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City of San Leandro
<br />Notes to Basic Financial Statements
<br />For the year ended June 30, 2013
<br />NOTE 7 - LONG-TERM DEBT (Continued)
<br />At June 30, 2013 future debt service requirements for the HUD 108 Guarantee loan follows:
<br />For The Year
<br />Ending June 30 Principal
<br />2014
<br />$131,000
<br />2015
<br />131,000
<br />2016
<br />131,000
<br />2017
<br />131,000
<br />2018
<br />131,000
<br />2019-2023
<br />659,000
<br />2024-2028
<br />660,000
<br />2029-2030
<br />264,000
<br />$2,238,000
<br />Interest Total
<br />$75,093
<br />$206,093
<br />73,037
<br />204,037
<br />70,417
<br />201,417
<br />67,233
<br />198,233
<br />63,584
<br />194,584
<br />253,523
<br />912,523
<br />126,892
<br />786,892
<br />11,604
<br />275,604
<br />$741,383
<br />$2,979,383
<br />B. Long -Term Debt of Business -Type and Proprietary Funds
<br />Summary of changes in long-term debt of business -type and proprietary funds for the year ended June 30,
<br />2013:
<br />Balance
<br />June 30, 2012
<br />Additions
<br />Balance Due within Due in more than
<br />Retirements June 30, 2013 one year one year
<br />Marina Note $2,280,876 $190,280 $2,090,596 $207,791 $1,882,805
<br />State Water Resources
<br />Control Board 6,698,278 $14,637,777 21,336,055 21,336,055
<br />Total $8,979,154 $14,637,777 $190,280 $23,426,651 $207,791 $23,218,860
<br />State Water Resources Control Board
<br />On August 4, 2011, the City entered into a Finance Agreement with the State Water Resources Control
<br />Board in the total principal amount of $43,000,000, for the purpose of financing the Wastewater System
<br />Expansion and Improvement Project. The loan bears an interest rate of 2.6%. Principal and interest
<br />payments are payable annually on July 1. The debt is secured by the WPCP Enterprise Fund operating
<br />revenues.
<br />At June 30, 2013, the City has drawn down $21.3 million from the State Water Resource Control Board
<br />and the remaining balance of $21.7 million is expected to be drawn down in fiscal year 2013-14. There
<br />was no debt service payment in fiscal year 2012-13, with the first debt service payment of $4.2 million
<br />due in fiscal year ending 2015-16. Future debt service is expected to average $3 million per year through
<br />fiscal year 2034-35 for a total $58.8 million.
<br />Marina Cal Boating Notes Payable
<br />The City entered into various construction loan agreements with the California Department of Boating
<br />and Waterways in the total principal amount of $5,331,032. The loans bear an average interest rate of
<br />4.50%. Principal and interest payments are payable annually on each August 1. The debt is secured by
<br />Shoreline Enterprise Fund operating revenues.
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