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<br />City of San Leandro
<br />Notes to Basic Financial Statements
<br />For the year ended June 30, 2006
<br />
<br />NOTE 7 - LONG- TERM DEBT, Continued
<br />
<br />B. Long-Term Debt of Business-Type and Proprietary Funds
<br />
<br />Summary of changes m long-term debt of busmess-type and propnetary funds for the year ended June 30, 2006
<br />
<br />Balance
<br />
<br />Balance
<br />
<br />Due within
<br />
<br />Due m more
<br />
<br />Debt Issue
<br />
<br />July 1,2005
<br />
<br />Relirements
<br />
<br />June 30. 2006
<br />
<br />one year
<br />
<br />than one year
<br />
<br />Manna Cal Boatmg Notes Payable
<br />
<br />);
<br />
<br />3,402, ] 77
<br />
<br />);
<br />
<br />(139,823) S
<br />
<br />3.262,354
<br />
<br />s
<br />
<br />146.115
<br />
<br />s
<br />
<br />3.1] 6,239
<br />
<br />Notes Payable
<br />
<br />Manna Cal BoatIng Notes Payable
<br />
<br />The CIty entered mto vanous constructIon loan agreements WIth the Cal1fomla Department of BoatIng and Waterways
<br />In the total pnnClpal amount of $5,331,032. The loans bear an average mterest rate of 4.50%. Pnnclpal and mterest
<br />payments are payable annually on each August I The debts are secured from ShorelIne Enterpnse Fund operatIng
<br />revenues.
<br />
<br />Manna Cal BoatIng Notes Payable. contmued
<br />
<br />At June 30, 2006, future debt servlce reqUJrements for the Manna Cal BoatIng Notes Payable were as follows:
<br />
<br />Forthe Year
<br />Ending
<br />June 30, Pnnclpal Interest Total
<br />2007 S 146,115 ); 146,895 S 293,010
<br />2008 152,690 140,319 293,009
<br />2009 159,561 133,449 293,0\0
<br />2010 166,741 126,268 293,009
<br />2011 ] 74,245 J ]8,764 293,009
<br />2012-2016 996.139 468,908 1,465,047
<br />2017-2021 1,24] ,360 223,677 J,465,037
<br />2022-2026 203,764 25,425 229,189
<br />2027 21,739 1,067 22.806
<br />Totals S 3,262,354 S 1,384,772 $ 4,647,126
<br />
<br />C. Debt Covenants and Restrictions
<br />
<br />For June 30, 2006, the City complied WIth all general and speclilc covenants regardIng debt proceeds usage and debt
<br />repayment. In accordance WIth bond offiCIal statements, the City also maIntaIned adequate reserves for all debt Issues.
<br />
<br />71
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