Analyses of GARVEE Bonding Capacity 2008

IX. Conclusion

As the analyses show, the ultimate capacity existing for the State’s future GARVEE financings will depend on a wide range of circumstances over time, including market conditions, maturity structures, revenues, and other factors that may be considered by the Commission in the future.

We hope these analyses will prove useful in light of some of the structuring options available for GARVEE financing, in addition to meeting the immediate goal of assisting the Commission in preparing its annual report.