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Appendix D
2025 School Bond Qualification and Loan Program Annual Report
Appendix D
History of State Debt Issued
The State/Michigan Finance Authority issued bonds whose proceeds were used for qualified loans to school districts, refunding debt, debt service payments, and issuance costs. As of September 30, 2025, general obligation (GO) debt has outstanding balances of $3.23 million on the Series 2009B Refunding issue and $132.0 million on the Series 2013A Bonds and the School Loan Revolving Fund (SLRF) has outstanding balances of $200.0 million on the Series 2015A SLRF Bonds and $100.39 million on the Series 2019B SLRF Bonds.
|
Debt Title |
Type of Debt |
Issue Date |
Amount |
Debt Outstanding as of 9-30-25 |
|---|---|---|---|---|
|
Series 2009B Refunding |
GO Debt |
5/26/2009 |
$189,442,697 |
$3,230,000 |
|
Series 2013A Bonds |
GO Debt |
4/18/2013 |
$200,000,000 |
$131,955,000 |
|
Series 2015A SLRF |
SLRF BONDS |
4/22/2015 |
$200,000,000 |
$200,000,000 |
|
Series 2019B SLRF |
SLRF Bonds |
11/20/2019 |
$100,390,000 |
$100,390,000 |