10A Action 2014 0203 - Laserfiche WebLink

Home

City of San Leandro Notes to Basic Financial Statements For the year ended June 30, 2013 NOTE 7 - LONG-TERM DEBT (Continued) At June 30, 2013, future debt service requirements for the 2010 Master Equipment Lease Purchase Agreement follows: For The Year Ending June 30 Principal 2011 Fire Truck Lease Interest Total 2014 $95,881 $7,804 $103,685 2015 99,707 3,978 103,685 $195,588 $11,782 $207,370 On November 9, 2011, the City entered into a Lease/Purchase Agreement with Oshkosh Capital to Lease/Purchase Equipment in the amount of $971,090. The Equipment was for the Fire Department's 2010 Triple Combination Pumper Truck. The interest is 2.20% payable in five (5) years. At June 30, 2013, future debt service requirements for the 2012 Lease Purchase Agreement follows: For The Year Ending June 30 Principal 2014 2015 2016 2017 HUD 108 Guarantee Loan Interest Total $189,947 $17,275 $207,222 194,126 13,096 207,222 198,397 8,825 207,222 202,762 4,461 207,223 $785,232 $43,657 $828,889 In 2000, the City received a $1,000,000 20 -year federal loan from Housing and Urban Development (HUD), at an interest rate of 5.6% to finance the acquisition and construction of affordable housing for seniors within the City of San Leandro. The loan is secured and payable from the Agency's 20% Housing Set -Aside Fund. As of June 30, 2013 the outstanding loan balance of $496,000 and debt was assumed by the Successor Agency. Future debt service repayments will be made by the Successor Agency from the former Redevelopment Property Tax Trust Fund allocation (See Note 17). HUD 108 Guarantee Loan In 2011, the City received a $2,500,000 20 -year federal loan from HUD, at an interest rate of 3% to finance the acquisition and construction of senior center facility within the City of San Leandro. The loan is secured and payable from the Community Development Block Grant Fund. 65