During the year ended December 31, 2010, the CTA issued $550 million in sales tax revenue bonds for the purpose of funding various capital projects. The revenue bonds will be repaid from 2014 through 2040. This principal along with interest over a period of thirty years will be repaid through future Federal Transit Administration (FTA) Section 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2014 through 2040 in the amount of the principal payment of the Series 2010 sales tax bonds. During the year ended December 31, 2025, the current year grant award for principal and interest payments amounted to $15,007,083 and $26,729,427 respectively, which is included in the Schedule under projects IL-2024-031 and IL-2025-028. During the year ended December 31, 2025, the CTA incurred $375,686 in expenditures related to these projects. Following is a schedule of the costs incurred on CTA fiscal year 2010 Capital Bond Issue funded projects. Cumulative Project 2025 Expenditures Number Description Expenditures Incurred to Date 10808 Perform Mid Life Overhaul $ 256,116 $ 5,629,292 10809 Perform Rail Car Overhaul - 9,000,000 10810 Oracle Upgrade ERP - 8,000,000 10866 ISRP Greenline Track - 1,605,786 10989 Rehab Rail Station – 95th - 825,718 17146 RPM CTA Bond Core - - 17156 RPM CTA Bond Non-Core 248,072 2,048,497 18229 Rail Car Rehabilitation - 41,145,092 18230 Purchase Rail Cars - 220,854,853 18231 Purchase Rail Cars (IDOT Matched) - 98,841,212 18232 Contingencies - - 18233 Support Services - 1,741,957 18236 Purchase Rail Cars - 353,314 18329 Bus Cam Auto Lane Enforce 85,554 85,554 18390 RLE Outside Counsel (268,704) 103,496 19502 Replace Buses - NOVA - 51,032,016 19503 Rehab North Red Station - 37,896,504 19623 Infrastructure Project Track - Milwaukee 54,648 2,349,241 19666 Infrastructure Project Track - Wilson - 4,744,148 19690 Infrastructure Project Track - RLC - 3,000,000 19580 Infrastructure Project Track - Station - 5,216,559 Total $ 375,686 $ 494,473,239 A reconciliation of projects funded by the 2010 Section 5307 and 5309 revenue bonds to the amount claimed on the schedule through principal payments is as follows as of December 31, 2025: Capital expenditures during previous years $ 494,097,553 Capital expenditures during 2025 375,686 Cumulative expenditures incurred through December 31, 2025 494,473,239 Less: Grant proceeds received for principal payments in previous years (109,041,873) Grant proceeds received for principal payments during 2025 (15,007,083) Capital expenditures to be recorded in future years in the schedule of expenditures of federal awards $ 370,424,283
During the year ended December 31, 2014, the CTA issued $550 million in sales tax revenue bonds for the purpose of funding various capital projects. The revenue bonds will be repaid from 2015 through 2049. Projects funded with the bond proceeds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in the amount of the principal payment of the Series 2014 sales tax bonds. During the year ended December 31, 2025, the current year grant award for principal and interest payments amounted to $0 and $0 respectively. During the year ended December 31, 2025, the CTA incurred $3,508,481 in expenditures related to these projects. Following is a schedule of the costs incurred on CTA fiscal year 2014 Capital Bond Issue funded projects. Cumulative Project 2025 Expenditures Number Description Expenditures Incurred to Date 10767 Red/Purple Modernization $ - $ 8,750,000 10915 Upgrade Software - Loss Shunt Enhance. - 146,087 10916 Upgrade Software -Warning Sys. On Train - 42,402 10917 Upgrade Software - Red Signal Detection - 54,973 18398 Blue Line Austin Impr 18398 4,760 4,760 18399 Rail Station Kiosk Sec 18399 625 625 27228 Blue Line Traction Power Study - 390,000 28120 CTA Bus Priority Study 28120 132,491 132,491 60134 Perform Rail Car Overhaul 250,148 26,431,295 60135 Perform Rail Car Overhaul - 9,046,008 60136 Replace Buses up to 450- Base Order 300 - 1,339,963 60137 Purchase Rail Cars (5000 Series) - 199,937,992 60138 Purchase Rail Cars (7000 Series) 172,965 42,653,634 60141 Improve Facilities - Bus Hoists Phase II 148 844,063 60142 Purch Equip & Non Revenue Vehicles $18,370 $3,018,370 60143 Improve Facilities - Bus 103rd Garage - 11,954,585 60144 Imp Facil - Rpl Non-Rev 61st Rail Shop 19,346 2,448,005 60145 Improve Facilities - 4G Cellular - - 60146 Open Fare Lease Payment - - 60147 Rehab Blue Line-Upg Sig - 3,860,006 60148 Upgrade Power Dist - E Lake Substation - 12,929,616 60149 Upgrd Pwr Dist Milw Substation - 2,525,694 60150 Upgrade Power Distribution -Tact Traction - 1,136,683 60151 Upgrade Power Dist - Brdwy - 1,389,393 60152 Upgrade Power Distribution - Kimball.. - 28,688,053 60153 Upgrd Pwr Dist - Hubb S - 1,091,964 60154 Rehab Blue Line - ADD/C - 5,450,795 60155 Infrst Saf & Renl – BL 61,936 442,976 60156 Infrast Safety & Renewal-Ravenswood - 14,762,122 60157 Infrst Saf & Renl – Loop - 7,250,000 60158 Infrast Saf &Renl – Elv - 12,981,210 60159 Red/Purple Modernization 144 13,462,210 60160 95th St. Term Impr Pro - 28,047,790 60161 Imp Facilities - North Park - 321,163 60162 Imp Facilities - 98th Hoists & Spin Jacks - 215,907 Cumulative Project 2025 Expenditures Number Description Expenditures Incurred to Date 60163 Imp Facilities - Fire Alarms Bus & Rail $ 88,965 $ 3,962,386 60164 Imp Facilities-74th & Midway Tuckpointng - 218,837 60165 Imp Facilities - Des Plaines - - 60166 Imp Facilities - Harlem Washers - 284,775 60167 Imp Facilities - Des Plaines Roof - 895,423 60168 Imp Facilities - Harlem Roof - 1,293,362 60169 Imp Facilities - West Shop Elec Panels - 4,605,592 60170 Imp Facilities - Env 103 - - 60171 Imp Facilities- 77th Bus Garage Washers - 79,481 60172 Imp Facilities – Safety - 47,955 60173 Imp Facilities - Site Li - 1,266,771 60174 Imp Facilities - Bus Turn. - 1,557,865 60175 Imp Facilities - Roof Ma - 1,410,966 60176 Imp Facilities – Energy - 188,718 60177 Rehab Blue Line - GRD/C - 1,732,087 60178 Rehab Blue Line – Dear - 276,438 60179 Rehab Blue Line - Kimball 15,226 742,151 60181 Infra Saf Ren -Rav Loop Connector Track 53,405 1,184,835 60182 Infra Saf Ren -Rav Loop Connector Track - 1,000,000 60190 South Shops Hazardous Waste Building - - 60191 Kedzie Bus Garage-New High Speed Doors 6,528 742,278 60192 Forest Glen Garage - Site Improvements - 2,970 60193 Bus Turnarounds - Central & Roosevelt - 1,187,939 60194 Midway Rail Shop Wheel Truing Machine - 557,280 60205 NML Lawrence to Jarvis - Ballasted Track - 12,375,212 60206 Infra Saf Ren-Grn Line - 13,738,707 60207 Rehab Blue - Jeff Pk St - 640,193 60229 Mid Life Bus ovr Hyb 11,859 9,230,299 60230 Rehab Stat-Bel Board - - 60231 Rehab Stations (ASAP) - 227,946 60232 Infrst Lead Abate Sys - - 60241 Infrst Loss Of Shunt - 264,473 60242 Infrs Wrk Ahead Light - 150,000 60243 Infrs SCASA RTU Board - 387,054 60244 Infrs Small Scada Cab - 920,700 60245 Infrs Fire Jacket Rep - 105,295 60246 Infrs Electrical Hazard Signs - 32,049 60247 Infrs Subst Trans 602 - - 60248 Infrs Inver Repl 6024 - - 60249 Sup Ser Infrs Safe PR 194,744 473,494 60251 Infrst Safety Renewal - Track &Structure - 5,777,944 60272 Repl/Upgrade Power Distribution - 727,080 60273 Infrastructure Subway - 749,506 60274 Railcar Overhaul Material - 148,043 60275 Infr Linear Heat Dete - 65,972 60279 Rehab Rail Station Be - 60,149 Cumulative Project 2025 Expenditures Number Description Expenditures Incurred to Date 60281 Rehab Rail Station $ - $ 255,000 60332 Rehab Rail Station - 2,709,449 60350 P/I Rail Car Components 1,819,993 3,363,030 60353 Rehab Rail Station - 95th - 3,967,157 60358 Land Acquisition - Grn - 895,000 60368 Midwy Shop & 74th Garage - 1,149,116 60369 Elevated Track/Struct - 992,648 60382 Skokie Shops Clean Room Renovation 22,252 1,402,720 60448 Old Mannheim Replacement Footwalk - 250,001 60467 Cicero Grade Crossing 133,385 561,866 60493 New Control/Training (12,541) 73,620 60512 Farebox Vault Demo 62,431 601,673 60520 Forest Park Race/Morg/Herm 298,525 330,672 60546 Blue Line I-290 Planning 60546 152,776 152,776 Total $ 3,508,481 $ 527,767,788 A reconciliation of projects funded by the 2014 Sales Tax Receipts Revenue Refunding bonds to the amount claimed on the schedule through principal payments is as follows as of December 31, 2025: Capital expenditures during previous years $ 524,259,307 Capital expenditures during 2025 3,508,481 Cumulative expenditures incurred through December 31, 2025 527,767,788 Less: Grant proceeds received for principal payments in previous years - Grant proceeds received for principal payments during 2025 - Capital expenditures to be recorded in future years in the schedule of expenditures of federal awards $ 527,767,788
During the year ended December 31, 2015, the CTA issued $176 million in revenue bonds for the purpose of refunding a portion of the outstanding 5307 (Series 2004B and 2006A) and 5309 (Series 2008A) bonds. The revenue bonds will be repaid from 2018 through 2026. This principal along with interest over a period of eleven years will be repaid through future Federal Transit Administration (FTA) Section 5307 and 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2018 through 2026 in the amount of the principal payment of the Series 2015 refunding bonds. During the year ended December 31, 2025, the current year grant award for principal and interest payments amounted to $15,275,000 and $306,439, respectively, which is included in the Schedule under project IL-2025-028.
During the year ended December 31, 2018, the CTA issued $226 million in revenue bonds for the purpose of refunding a portion of the outstanding 5307 (Series 2008A) and 5309 (Series 2008 and Series 2008A) bonds. The revenue bonds will be repaid from 2019 through 2026. This principal along with interest over a period of nine years will be repaid through future Federal Transit Administration (FTA) Section 5307 and 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2019 through 2026 in the amount of the principal payment of the Series 2017 refunding bonds. During the year ended December 31, 2025, the current year grant award for principal and interest payments amounted to $31,080,000 and $620,922 respectively, which is included in the Schedule under project IL-2025-028.
During the year ended December 31, 2017, the CTA issued $296 million in sales tax revenue bonds for the purpose of funding various capital projects. The revenue bonds will be repaid from 2018 through 2051. Projects funded with the bond proceeds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in the amount of the principal payment of the Series 2017 sales tax bonds. During the year ended December 31, 2025, the current year grant award for principal and interest payments amounted to $0 and $14,560,802 respectively, which is included in the Schedule under projects IL-90-X646, IL-2024-031 and IL-2025-028. During the year ended December 31, 2025, the CTA incurred $28,952,253 in expenditures related to these projects. Following is a schedule of the costs incurred on CTA fiscal year 2017 Capital Bond Issue funded projects. Cumulative Project 2025 Expenditures Number Description Expenditures Incurred to Date 10853 Replace Buses Up to 2 buses $ 2,230 $ 99,247 10912 Red/Purple Modernization (RPM) (22,216) 32,236,652 10913 Replace Buses 4 Elec - 11,627 10924 Rehab Rail Stations- Garfield Gateway - 6,250,000 17026 Red Line Extension Planning - Prelim Engr - 363,644 17027 Support Service - 6,355 17028 Wilson Station Intermodl - 310,243 17149 CTA Third Rail Isolation Demonstration Project 5,898 5,898 60301 Purchase up to 5 Elec - 2,200,000 60323 Replace Buses - Purch 1 Electric Bus (EPA) - 488,889 60423 Purchase up to 3 Electric Buses 111,972 196,810 60253 Perf Rail Car Overhaul - 976,590 60254 Bus/Rail Facilities - 895,304 60255 CTA Open Fare Paymt - - 60256 Purch Equip & Non Rev - 2,008,786 60257 Rehab Sign Systwde - BR 5,144 18,693,904 60258 Upgrade Pow Dist-Broa - - 60259 Upgrade Pow Dist- ILL - 4,500,000 60260 Purchase RailCar - 700 5,644,229 25,968,178 Cumulative Project 2025 Expenditures Number Description Expenditures Incurred to Date 60261 Rehab Rail St-Quincy $ - $ 863,887 60262 Rehab Rail Station - WI 148,391 5,551,344 60263 Rehab Rail St 95th TE - 19,779,186 60264 Infrastr Green Line L - - 60265 Infrast & Safety Renewal-Track&Structure - 5,025,189 60266 Infrastr North Main L - - 60267 Rehab Blue L Sign & 44,615 66,738,713 60268 Upgrade Power Dist Mi 3,425 8,621,653 60269 Upgrade Power Dist Eas - 3,103,584 60270 Red Line Extens - PLA 18,783,668 35,164,674 60271 Red/Purple Modernization (RPM) 90,871 3,475,949 60283 Equipment & Non-Revenue - 515,659 60295 Parking Lots Improvement (360) 3,675,607 60296 Tower 12 Replacement 296 1,070,299 60299 Improve Facilities - 98th - 406,989 60304 Rail Station - Green (90) 10,218,117 60306 Rail Station - Green - 682,070 60308 Rehab Green Line Garfield 35,000 270,870 60322 Rehab Rail St 95th - 93,027 60370 South Shops Gas Controls Update - 800,000 60420 Purchase Ebus Chargers - 106,233 60424 Perf. Rail Car Maint - Rail Car Sumulator - 534,907 60442 Rehab Rail Stations- Evanston 5,126 1,983,004 60443 Rehab Rail Stations - Quincy Loop Upgrade - 731,332 60444 Perf. Rail Car Maint - Rail Car Sumulator - 648,988 60445 North Park Garage - 5323 Kedzie Demo - - 60446 Rehab Rail Stations - 95th Terminal - - 60447 Improve Facilities - Critical Needs - 625,384 60466 Design Cicero Grd Crossing 156,321 288,674 60497 Facilities Critical Needs 230,590 230,590 60510 Blu Ln-Grand/Chgo/Divsn 8,685 9,095 60522 Tech - Cad Avl Upgrs 904,272 4,145,832 60547 Systemwide Legal/Art 207 207 60551 RLE – Outside Counsel 938,273 2,318,176 60549 RLE-Ineligible Cost - 4,659,568 60552 RLE Office 1,795,464 1,795,464 60553 West Shops North Wall 60,152 346,826 Total $ 28,952,253 $ 279,692,924 A reconciliation of projects funded by the 2017 Sales Tax Receipts Revenue Refunding bonds to the amount claimed on the schedule through principal payments is as follows as of December 31, 2025: Capital expenditures during previous years $ 250,740,671 Capital expenditures during 2025 28,952,253 Cumulative expenditures incurred through December 31, 2025 279,692,924 Less: Grant proceeds received for principal payments in previous years - Grant proceeds received for principal payments during 2025 - Capital expenditures to be recorded in future years in the schedule of expenditures of federal awards $ 279,692,924
During the year ended December 31, 2020, the CTA issued $368 million in revenue bonds to pay for projects included in the Capital Improvement Plan and repay a portion of CTA’s Second Lien Sales Tax Receipts Capital Improvement Notes. The revenue bonds will be repaid from 2023 through 2055.This principal along with interest over a period of thirty-two years will be repaid through future Federal Transit Administration (FTA) Section 5307 and 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2023 through 2055 in the amount of the principal payment of the Series 2020A refunding bonds. During the year ended December 31, 2025, the current year grant award for principal and interest payments amounted to $0 and $16,112,644, respectively, which is included in the Schedule under projects IL-2024-031 and IL-2025-028.
During the year ended December 31, 2020, the CTA issued the Taxable Sales Tax Receipts Revenue Bonds, Series 2020B, in the amount of issued $534 million. The bonds were issued to refund the outstanding Sales Tax Receipts Revenue Bonds Series 2011 and repay a portion of CTA’s Second Lien Sales Tax Receipts Capital Improvement Notes. The revenue bonds will be repaid from 2021 through 2040. This principal along with interest over a period of nineteen years will be repaid through future Federal Transit Administration (FTA) Section 5307 and 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2021 through 2040 in the amount of the principal payment of the Series 2020B refunding bonds. During the year ended December 31, 2025, the current year grant award for principal and interest payments amounted to $14,415,250 and $9,714,261, respectively, which is included in the Schedule under projects IL-2024-031 and IL-2025-028. During the year ended December 31, 2025, the CTA incurred $56,995,571 in expenditures related to these projects. Following is a schedule of the costs incurred on CTA fiscal year 2020B Capital Bond Issue funded projects. Cumulative Project 2025 Expenditures Number Description Expenditures Incurred to Date 17079 Support Services - RPM Core Capacity $ 245,302 $ 1,152,075 17080 Support Services - RPM CMAQ 6,305 68,333 17083 RPM Core/CTA Bond RPM (Local) 28,529,583 144,742,023 17084 RPM CMAQ/CTA 2020 Bond(Local) - 6,372,900 17085 RPM CMAQ Non-Core/CTA2020Bond - 163,818 Cumulative Project 2025 Expenditures Number Description Expenditures Incurred to Date 60410 Perform Artic Mid-Life Bus Overhaul $ 4,699,090 $ 15,069,736 60411 Replace Buses - Base Order of 100 (239,955) 6,981,464 60412 Purch Rail Cars - 7000 Series (Base 400) 8,330,524 44,190,427 60413 Perf Rail Car Overhaul - 5000 Series(714) 3,433,808 6,324,466 60414 Rehab Blue Line-Upgrade Signals & Track - 10,989,035 60415 Repl&Upgrade Power Distrib & Signals (102,091) 1 60416 Facilities Maintenance (1,785) 721,913 60417 Red Line Extension Planning 24,458 22,500,127 60418 Support Services - 25,250 60419 Support Services 14,362 189,976 60421 Red/Purple Modernization (RPM) 7,195,332 8,694,917 60434 Skokie Shops Clean Room Renovation 228,132 4,190,287 60523 TECH - CAD AVL UPGRS 327,509 2,887,738 60556 IMPROVE FACILITIES 296,934 1,370,556 60554 Subway Exit Door Replace 338,874 338,874 60583 3200/2600 Propulsion Kits 60583 3,669,189 3,669,189 Total $ 56,995,571 $ 280,643,105 A reconciliation of projects funded by the 2020B Sales Tax Receipts Revenue Refunding bonds to the amount claimed on the schedule through principal payments is as follows as of December 31, 2025: Capital expenditures during previous years $ 223,647,534 Capital expenditures during 2025 56,995,571 Cumulative expenditures incurred through December 31, 2025 280,643,105 Less: Grant proceeds received for principal payments in previous years (66,998,105) Grant proceeds received for principal payments during 2025 (14,415,250) Capital expenditures to be recorded in future years in the schedule of expenditures of federal awards $ 199,229,750
During the year ended December 31, 2021, the CTA issued $121 million in revenue bonds for the purpose of refunding a portion of the outstanding 5307 (Series 2010 and Series 2011) and 5309 (Series 2009) bonds. The revenue bonds will be repaid from 2021 through 2029. This principal along with interest over a period of nine years will be repaid through future Federal Transit Administration (FTA) Section 5307 and 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2021 through 2029 in the amount of the principal payment of the Series 2021 refunding bonds. During the year ended December 31, 2025, the current year grant award for principal and interest payments amounted to $315,000 and $4,677,840, respectively, which is included in the Schedule under project IL-2025-028.
During the year ended December 31, 2022, the CTA issued $350 million in sales tax revenue bonds for the purpose of funding various capital projects and to repay a portion of CTA’s Second Lien Sales Tax Receipts Capital Improvement Notes. The revenue bonds will be repaid from 2024 through 2057. Projects funded with the bond proceeds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in the amount of the principal payment of the Series 2022A sales tax bonds. During the year ended December 31, 2025, the current year grant award for principal and interest payments amounted to $0 and $13,929,757, respectively, which is included in the Schedule under project IL-2024-031 and IL-2025-028. During the year ended December 31, 2025, the CTA incurred $356,597 in expenditures related to these projects. Following is a schedule of the costs incurred on CTA fiscal year 2022A Capital Bond Issue funded projects. Cumulative Project 2025 Expenditures Number Description Expenditures Incurred to Date 17159 RPM Core/CTA Bond RPM (Local) $ (4,447,570) $ 49,380,017 17160 RPM CMAQ/CTA 2022 Bond (Local) 357,510 13,049,799 17161 Support Service Core / CTABondFY2022 115,028 486,151 60468 Perform Rail Car Overhaul (5000Series) - - 60469 Non-Revenue Veh. - Diesel Locomotives 31,111 31,111 60470 Purch Rail Cars-000 Series(Base order 400) 2,452,451 15,135,766 60471 Replace Upgrade Power Distribution & Signals 30,029 1,553,501 60472 Red Line Ext. Planning, Prelim. Engineering 160,348 56,874,293 60473 Systemwide Security Camera Improvements - 17,820,000 60474 South Main Line (Green) Track Gang - 3,982,745 60475 Congress Line (Blue) Track Gang - 6,450,846 60476 Dearborn & State Subway In-House Work - 6,911,612 60477 System Wide Station Enhancements 375,729 8,676,948 60478 South Main & Lake Line Track Improvements - 56,574,737 60479 Ravenswood (Brown) Track Improvements - 10,563,032 60480 Dearborn Subway Improve Mid-Con - 10,966,879 60481 State (Red) Subway Improvements - 3,777,393 60482 Blue Line O'Hare-Nagle Curve Work Fast Trk - 1,353,171 60483 Blue Line Traction Power Imp.(Fast Tracks) - 9,182,252 60484 Imp. Canal Substation & New Barry & Damen 79,808 5,386,650 60485 Ravenswood (Brown) Track Improvements - 6,859,661 60486 Congress Line Track Repairs (LaSalle) - 7,024,058 60487 DC Breakers (Sacramental, Franklin & Nagle) - - 60488 Tactical Traction Power (Fast Tracks) - 9,365,701 60489 Support for FTT Short Term (Fast Trks) - 640,773 60490 Red/Purple Modernization (RPM) 413,881 996,381 60491 Red Line Extension Planning-Prelim Engr 176,139 4,912,221 60511 Rehab Blue Line-Kimball Substation 51,365 51,365 60555 Elevated Track & Structure 292,064 708,521 60591 RLE - OUTSIDE COUNSEL 60591 268,704 268,704 Total $ 356,597 $ 308,984,288 A reconciliation of projects funded by the 2022A Sales Tax Receipts Revenue Refunding bonds to the amount claimed on the schedule through principal payments is as follows as of December 31, 2025: Capital expenditures during previous years $ 308,627,691 Capital expenditures during 2025 356,597 Cumulative expenditures incurred through December 31, 2025 308,984,288 Less: Grant proceeds received for principal payments in previous years - Grant proceeds received for principal payments during 2025 - Capital expenditures to be recorded in future years in the schedule of expenditures of federal awards $ 308,984,288
During the year ended December 31, 2025, the CTA issued $659 million in sales tax revenue bonds. The bonds were issued to refund the outstanding Sales Tax Receipts Revenue Bonds, Series 2014 and to fund the purchase price of certain outstanding Sales Tax Receipts Revenue Refunding Bonds, Series 2020B via the tender option in addition to pay the costs of issuance related to the issued bonds. The revenue bonds will be repaid from 2025 through 2049. Projects funded with the bond proceeds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in the amount of the principal payment of the Series 2024A sales tax bonds. During the year ended December 31, 2025, the current year grant award for principal and interest payments amounted to $6,678,333 and $31,319,747 respectively, which is included in the Schedule under projects IL-2024-031 and IL-2025-028.
There were no non-cash awards or Federal Insurance maintained in the current year.