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REDEVELOPMENT AGENCY OF SAN LEANDRO
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />FOR THE YEAR ENDED JUNE 30, 2007
<br />8. LONGTERM OBLIGATIONS (Continued)
<br />2002 Tax Allocation Bonds -(Plaza Project Area)
<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 are 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.
<br />At June 30, 2007, future debt service requirement for the 2002 Tax Allocation Bonds were as follows:
<br />For The Year
<br />Ending June 30, Principal
<br />2008 $ 345,000
<br />2009 525,000
<br />2010 550,000
<br />2011 575,000
<br />2012 605,000
<br />2013-2017 3,545,000
<br />2018-2022 3,345,000
<br />2023-2027 2,410,000
<br />2028-2032 2,605,000
<br />2033 480,000
<br />Total debt service
<br />lnterest Total
<br />$ 826,581 $ 1,171,581
<br />807,700 1,332,700
<br />783,500 1,333,500
<br />757,194 1,332,194
<br />728,413 1,333,413
<br />3,122,888 6,667,888
<br />2,066,448 5,411,448
<br />1,291,966 3,701,966
<br />531,450 3,136,450
<br />14,400 494,400
<br />$14,985,000 $10,930,540 $ 25,915,540
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