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<br />CITY OF SAN LEANDRO <br /> <br />MEMOR"'NDUM <br /> <br />Date: <br /> <br />July 9,2007 <br /> <br />To: <br /> <br />Jo1m Jennanis, City Manager <br /> <br />Subject: <br /> <br />Jesse Baloca, Finance Direc~ . <br /> <br />Christine Galvin, Senior Accountant c.~o}O~ <br /> <br />Marina Debt <br /> <br />Via: <br /> <br />By: <br /> <br />Attached is a slllnmary schedule of the Shoreline Enterprise Fund debt issued between 1973 and <br />2006. The cunent outstanding balance of all debt totals $12,138,633 at June 30, 2007. <br /> <br />The debt consists of various General Fund loans issued to support capital improvement projects <br />in the Marina and Golf Course area and the dredging ofthe Marina totaling $9,661,284. The <br />loans were issued at an interest rate of 5% and 6%. The current outstanding principal balances <br />total $9,022,394. <br /> <br />The City also entered into various construction loan agreements with the California Department <br />of Boating and Waterways in the total principal amount of $5,331,032. The loans bear an average <br />interest rate of 4.Y%. The current outstanding balance is $3,116,239. <br /> <br />During the closing of Fiscal Year 2006-07 the Shoreline Enterprise Fund will pay off two loans <br />issued in 2002 for $450,000 and $250,000. The current principal balance to pay the loans is <br />$553,913. <br />