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City of San Leandro
<br />Notes to Basic Financial Statements
<br />For the year ended June 30, 2012
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<br />NOTE 18 – REDEVELOPMET AGENCY DISSOLUTION AND SUCCESSOR AGENCY
<br />ACTIVITIES, continued
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<br />H. Long-Term Debt Obligations, continued
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<br /> 2004 Tax Allocation Bonds
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<br />In 2004, the City issued $5,500,000 principal amount of 2004 Tax Allocation Bonds (2004 TABs). The purpose of the
<br />2004 TABs was to assist the Redevelopment Agency of the City finance redevelopment activities within the West San
<br />Leandro/MacArthur Boulevard Redevelopment Project Area of the City. The 2004 TABs bear interest rates ranging
<br />from 5.00% to 5.75% and are payable semiannually on each March 1 and September 1. Principal payments are payable
<br />annually on September 1. The debt is secured and payable from the tax increment revenues from the West San
<br />Leandro/MacArthur Boulevard Redevelopment Project area within the City.
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<br />At June 30, 2012, future debt service requirements for the 2004 Tax Allocation Bonds were as follows:
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<br />For the Year
<br />Ending
<br />June 30,Principal Interest Total
<br />2013 115,000$ 418,588$ 533,588$
<br />2014 125,000 274,650 399,650
<br />2015 130,000 263,888 393,888
<br />2016 140,000 256,638 396,638
<br />2017 145,000 249,338 394,338
<br />2018-2022 850,000 1,123,341 1,973,341
<br />2023-2027 1,090,000 867,143 1,957,143
<br />2028-2032 1,430,000 520,024 1,950,024
<br />2033-2035 1,065,000 94,156 1,159,156
<br />Total Debt Service 5,090,000$ 4,067,764$ 9,157,764$
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