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NOTE 5 — LONG -TERM DEBT (CONTINUED)
<br />C. Changes in Long -Term Debt
<br />Tax Increment Bonds
<br />Capital Improvement Refunding Bonds
<br />G.O. Improvement Bonds
<br />Capital Equipment Certificates
<br />Compensated absences
<br />OPEB
<br />D. Minimum Debt Payments
<br />Year Ending
<br />December 31,
<br />2014
<br />2015
<br />2016
<br />2017
<br />2018
<br />2019 -2023
<br />2024 -2028
<br />2029 -2032
<br />E. Revenue Pledged
<br />Bond Issue
<br />Tax increment bonds
<br />Series 2007B
<br />Series 2012B
<br />Use of
<br />Proceeds
<br />Street & Building
<br />improvements
<br />Principal
<br />Beginning
<br />of Year
<br />$ 7,820,000 $
<br />635,000
<br />27,890,000
<br />760,944
<br />279,642
<br />Governmental Activities
<br />4,475,000
<br />1,555,000
<br />2,280,000
<br />2,325,000
<br />2,255,000
<br />11,600,000
<br />7,180,000
<br />3,995,000
<br />$ 35,665,000 $
<br />Additions
<br />635,000
<br />490,800
<br />75,531
<br />$ 37,385,586 $ 1,201,331 $ 1,755,077 $ 36,831,840 $ 5,007,891
<br />Minimum annual principal and interest payments required to retire bonds and capital equipment certificates
<br />are as follows:
<br />Bonded and Capital Equipment Certificate Debt
<br />Interest
<br />1,055,384
<br />876,767
<br />834,333
<br />778,823
<br />720,892
<br />2,646,534
<br />1,221,971
<br />272,497
<br />8,407,201
<br />Future revenue pledged for the payment of long -term debt is as follows:
<br />Deletions
<br />$ 200,000
<br />120,000
<br />995,000
<br />431,911
<br />8,166
<br />Balance - Due Within
<br />End of Year One Year
<br />$ 7,620,000 $ 300,000
<br />515,000 125,000
<br />26,895,000 3,990,000
<br />635,000 60,000
<br />819,833 532,891
<br />347,007 -
<br />Revenue Pledged Current Year
<br />Percent of Remaining Principal
<br />Total Term of Principal and Interest
<br />Type Debt Service Pledge and Interest Paid
<br />Pledged
<br />Revenue
<br />Received
<br />Tax increment 100% $ 1,835,593
<br />financing
<br />78
<br />2007 -2014 $ 312,000 $ 220,495
<br />2012 -2024 $ 8,457,060 $ 154,920
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