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REDEVELOPMENT AGENCY OF SAN LEANDRO
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />FOR THE YEAR ENDED JUNE 30, 2010
<br />8. LONG -TERM OBLIGATIONS (Continued)
<br />2004 Tax Allocation Bonds
<br />In 2004, the Agency issued $5,500,000 principal amount of 2005 Tax Allocation Bonds (2004 TABS). The
<br />purpose of the 2004 TABS was to assist the Agency to finance redevelopment activities within the West San
<br />Leandro /McArthur Boulevard Redevelopment Project Area of the City. The 2004 TABS bear interest rates
<br />ranging from 5.00% to 5.75% and are payable semiannually on March 1 and September 1. Principal
<br />payments are payable annually on September 1. The debt is secured and payable from the tax increment
<br />revenues from the West San Leandro /MacArthur Boulevard Redevelopment Project area.
<br />At June 30, 2010, future debt service requirements for the 2004 Tax Allocation Bonds were as follows:
<br />For The Year
<br />Ending June 30, Principal Interest Total
<br />2011
<br />$ 105,000 $
<br />290,606 $
<br />395,606
<br />2012
<br />110,000
<br />284,425
<br />394,425
<br />2013
<br />115,000
<br />277,956
<br />392,956
<br />2014
<br />125,000
<br />271,056
<br />396,056
<br />2015
<br />130,000
<br />263,888
<br />393,888
<br />2016 -2020
<br />770,000
<br />1,206,690
<br />1,976,690
<br />2021 -225
<br />985,000
<br />978,804
<br />1,963,804
<br />2026 -2030
<br />1,280,000
<br />672,289
<br />1,952,289
<br />2031 -2035
<br />1,685,000
<br />252,856
<br />1,937,856
<br />Total debt service
<br />$ 5,305,000 $
<br />4,498,570 $
<br />9,803,570
<br />30
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