|
City of San Leandro
<br />Notes to Basic Financial Statements
<br />For the year ended June 30, 2013
<br />NOTE 17 — SUCCESSOR AGENCY ACTIVITIES (Continued)
<br />E. Long -Term Debt Obligations
<br />At June 30, 2013, future debt service requirements for the Successor Agency were as follows:
<br />2001 Certificates of Participation
<br />2002 TaxAllocation Bonds
<br />2004 TaxAllocation Bonds
<br />2008 TaxAllocation Bonds
<br />2013 Refunding Lease Revenue Bonds
<br />Successor Agency Portion
<br />Bayfair Mall Debt
<br />Owner Participation Agreements
<br />San Leandro USD - 9th Grade
<br />King Property Settlement
<br />HUD 108 Guarantee Notes
<br />Affordable Housing
<br />Total
<br />Plus (Less) unamortized:
<br />Discount (2002 TAB)
<br />Premium (2008 TAB)
<br />Premium (2013 LRRB)
<br />Balance
<br />Debt assumed
<br />Balance
<br />Current
<br />June 30, 2012
<br />From City
<br />Additions
<br />Retirements
<br />June 30, 2013
<br />Portion
<br />$3,610,000
<br />($3,610,000)
<br />12,385,000
<br />(635,000)
<br />$11,750,000
<br />$670,000
<br />5,090,000
<br />(115,000)
<br />4,975,000
<br />125,000
<br />26,235,000
<br />(510,000)
<br />25,725,000
<br />530,000
<br />$3,112,000
<br />3,112,000
<br />175,000
<br />200,000
<br />(200,000)
<br />2,008,746
<br />(123,730)
<br />1,885,016
<br />95,000
<br />988,288
<br />(327,072)
<br />661,216
<br />327,072
<br />7,750,000
<br />(1,000,000)
<br />6,750,000
<br />1,000,000
<br />$496,000
<br />(63,000)
<br />433,000
<br />63,000
<br />$50,517,034
<br />$496,000
<br />$10,862,000
<br />($6,583,802)
<br />$55,291,232
<br />$2,985,072
<br />($69,822)
<br />$4,107
<br />($65,715)
<br />($4,107)
<br />182,612
<br />(6,522)
<br />176,090
<br />6,522
<br />$119,874
<br />(2,141)
<br />117,733
<br />8,562
<br />Total Government Activity Debt $50,629,824 $496,000 $10,981,874 ($6,588,358) $55,519,340 $2,996,049
<br />2001 Certificates of Participation
<br />In 2001, principal amount of $5,020,000 was issued for the Certificates of Participation (2001 COPS). The
<br />purpose of the 2001 COPS was to assist the Successor Agency of the City finance redevelopment activities
<br />within the Joint Project Area. The 2001 COPs bear interest rates ranging from 2.10% to 5.10% and are
<br />payable semiannually on each June 1 and December 1. Principal payments are payable annually on
<br />December 1.
<br />The 2001 Certificates of Participation were defeased with the issuance of the 2013 Refunding Lease
<br />Revenue Bonds.
<br />2002 Tax Allocation Bonds
<br />In fiscal year 2004, the former Redevelopment Agency issued $15,935,000 principal amount of Tax
<br />Allocation Bonds (2002 TABS) to refund the 1993 Tax Allocation Bonds (1993 TABs) used to finance
<br />the redevelopment activities within the Plaza Project Area (which have been completed) and to finance
<br />new redevelopment projects as set forth in the former Redevelopment Plan. The bonds consist of serial
<br />bonds that mature annually through 2018 in amounts ranging from $305,000 to $860,000 and term bonds
<br />maturing in 2020 in the amount of $1,200,000, 2025 in the amount of $2,355,000 and 2033 in the amount
<br />of $3,520,000. Interest rates vary from 2.90% to a maximum of 6% and are payable semiannually on
<br />September 1 and March 1.
<br />83
<br />
|