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REDEVELOPMENT AGENCY OF SAN LEANDRO
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />FOR THE YEAR. ENDED JUNE 30, 2008
<br />8. LONGTERM OBLIGATIONS (Continued)
<br />2002 Tax AQocation 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 fnance 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 $5,860,000.
<br />Interest rates vary from 2.90% to maximum of 5.95% and are payable semiannually on September 1 and
<br />March 1. The debt is secured and payable from the property tax increment revenues from the Plaza Area
<br />within the City.
<br />At June 30, 2008, future debt service requirement for the 2002 Tax Allocation Bonds were as follows:
<br />For The Year
<br />Ending June 30,
<br />2009
<br />2010
<br />20]1
<br />2012
<br />2013
<br />2014-2018
<br />2019-2023
<br />2024-2028
<br />2029-2033
<br />Principal Interest Total
<br />$ 525,000 $ 807,700 $ 1,332,700
<br />550,000 783,500 1,333,500
<br />575,000 757,194 1,332,194
<br />605,000 728,412 1,333,412
<br />635,000 697,095 1,332,095
<br />3,745,000 2,926,223 6,671,223
<br />2,970,000 1,881,080 4,851,080
<br />2,465,000 1,146,554 3,611,554
<br />2,570,000 376,200 2,946,200
<br />Total debt service
<br />$14,640,000 $10,103,958 $ 24,743,958
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