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<br />REDEVELOPMENT AGENCY OF SAN LEAL~DRO
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<br />NOTES TO THE FINANCIAL STATEMENTS
<br />FOR THE YEAR ENDED JUNE 30, 2006
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<br />8. LONG-TERM OBLIGATIONS (Continued)
<br /> At June 30, 2006, future debt service requirement for the 200 I Certificates of Participation were as follows:
<br /> For The Year
<br /> Ending June 30, Principal Interest Total
<br /> 2007 $ 135,000 $ 209,054 $ 344,054
<br /> 2008 140,000 204,513 344,513
<br /> 2009 145,000 199,416 344,416
<br /> 2010 150,000 193,845 343,845
<br /> 201 I 155,000 187,857 342,857
<br /> 20]2-2016 895,000 831 ,710 1,726,710
<br /> 2017-2021 1,120,000 595,651 1,715,651
<br /> 2022-2026 1,430,000 273,615 1,703,615
<br /> 2027 330,000 8,415 338,415
<br /> Total debt service $ 4,500,000 $ 2,704,076 $ 7,204,076
<br /> 2002 Tax Allocation Bonds - (Plaza Project Area)
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<br />The Tax Allocation Bonds were issued by the Redevelopment Agency to refund 1993 Tax Allocation Bonds
<br />used to finance the redevelopment activities within the Plaza Project Area (which have been completed) and
<br />to finance new redevelopment activities within the Plaza Area (which have been completed) and to finance
<br />new redevelopment projects as set forth in the Redevelopment Plan. The bonds consist of serial bonds in the
<br />amount of $15,935,000 that mature annually though 2025 in amounts ranging from $305,000 to $5,860,000.
<br />Interest rates vary from 2.90% to maximum of 5.95% and arc payable semiannually on September 1 and
<br />March 1. The debt is secured and payable from the property tax increment revenues from the Plaza Area
<br />within the City.
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