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<br />REDEVELOPMENT AGENCY OF SAN LEANDRO
<br />NOTES TO THE FINANCIAL STATEM:ENTS
<br />FOR THE YEAR ENDED JUNE 30, 2006
<br />8. LONG-TERM OBUGATIONS
<br /> A summary of changes in long-term debt for the year ended June 30,2006, is as follows:
<br /> Bal ance Balance Current Long-Term
<br /> July 1,2005 Additions Rdirement June 30, 2006 Portion Portion
<br /> 2004 Tax Allocation Bonds $ 5,500,000 $ $ $ 5,500,000 $ $ 5,500,000
<br /> 2001 Certificates of Participation 4,635,000 ( 135,000) 4,.500,000 135,000 4,365,000
<br /> 2002 Tax Allocation Bonds 15,630,000 (315,000) 15,31.5,000 330,000 14,985,000
<br /> Buy Fair Mall Debt 2,150,000 (300,000) 1,850,000 300,000 1,550,000
<br /> HUD 108 Guarantee 937,000 (63,000) 874,000 63,000 811,000
<br /> Bay Fair Mall Tax Increment Repayment 345,024 (345,024)
<br /> Owner Participation Agreeme1Jls 3,699,287 (292,676) 3,406,611 305,145 3,101,466
<br /> Total 32,896,311 (1,450,700) 31,445,611 1,133,]45 30,3]2,466
<br /> Less unamortized:
<br /> Discount (94,464) 4,107 (90,357) (4,107) (86,2.50)
<br /> Premium 12,.506 (23,493) (10,987) 23,493 (34,480)
<br /> Total net of discount $ 32,814,353 $ $ (1,470,086) $ 31,344,267 $ 1,1.52,531 $ 30,191,736
<br />
<br />2004 Tax Allocation Bonds
<br />
<br />In 2006, the Agency issued $5,500,000 principal amount of2006 Tax Allocation Bonds (2004 TABs). The
<br />purpose of the 2004 TABs was to assist the Agency to finance redevelopment activities within the West San
<br />Lcandro/McArthur Boulevard Redevelopment Project Area of the City. The 2006 TABs bear interest rates
<br />ranging from 5.00% to 5.75% and are payable semiannually on each March I and September 1. Principal
<br />payments are payable annually on September 1. The debt is secured and payable from the tax increment
<br />revenues from the West San Leandro/MacArthur Boulevard Redevelopment Project area.
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