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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 />2004 Tax Allocation Bonds
<br />1n 2004, the Agency issued $5,500,000 principal amount of 2005 Tax Allocation Bonds (2004 TABs). The
<br />purpose of the 2004 TABS was to assist the Agency to finance redevelopment activities within the West San
<br />Leandro/McArthur Boulevard Redevelopment Project Area of the City. The 2004 TABs bear interest rates
<br />ranging from 5.00% to 5.75% and are payable semiannually on each March 1 and September 1. Principal
<br />payments are payable annually on September 1. The debt is secured and payable from the tax increment
<br />revenues from the West San Leandro/MacArthur Boulevard Redevelopment Project area.
<br />At June 30, 2008, future debt service requirements for the 2004 Tax Allocation Bonds were as follows:
<br />For The Year
<br />Ending June 30, Principal Interest Total
<br />2009 $ 95,000 $ 302,033 $ 397,033
<br />2010 100,000 296,475 396,475
<br />2011 105,000 290,606 395,606
<br />2012 110,000 284,425 394,425
<br />2013 115,000 277,956 392,956
<br />2014-2018 695,000 1,282,679 1,977,679
<br />2019-2023 890,000 1,077,915 1,967,915
<br />2024-2028 1,150,000 806,216 1,956,216
<br />2029-2033 1,510,000 436,223 1,946,223
<br />2034-2035 730,000 42,550 772,550
<br />
<br />Total debt service $ 5,500,000 $ 5,097,078 $ 10,597,078
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