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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2014
<br />NOTE 7 - LONG-TERM DEBT
<br />A. Governmental Activities Long -Term Debt
<br />Summary of changes in governmental activities long-term debt for the year ended June 30, 2014, follows:
<br />Plus unamortized:
<br />Discount (2007 TAB)
<br />Balance
<br />2,264 $
<br />Balance
<br />Due within
<br />Due in more
<br />Governmental Activity Debt.
<br />June 30, 2013
<br />Retirements
<br />June 30, 2014
<br />one year
<br />than one year
<br />Certificates of Participation Bonds:
<br />293,343
<br />(19,888)
<br />273,455
<br />19,888
<br />253,567
<br />2007 Certificates of Participation
<br />$ 19,250,000
<br />$ (805,000)
<br />$ 18,445,000
<br />$ 840,000
<br />$ 17,605,000
<br />Lease Revenue Bonds:
<br />2013 Refunding Lease Revenue Bonds
<br />City portion
<br />8,883,000
<br />(140,000)
<br />8,743,000
<br />140,000
<br />8,603,000
<br />2012 Taxable Pension Obligation Bonds
<br />17,585,000
<br />(910,000)
<br />16,675,000
<br />1,120,000
<br />15,555,000
<br />Total Governmental Activity Debt
<br />45,718,000
<br />(1,855,000)
<br />43,863,000
<br />2,100,000
<br />41,763,000
<br />Capital Leases:
<br />2010 Pumper Truck
<br />195,588
<br />(95,881)
<br />99,707
<br />99,707
<br />2011 Fire Truck
<br />785,232
<br />(189,947)
<br />595,285
<br />194,126
<br />401,159
<br />Total Capital Leases
<br />980;820
<br />(285,828)
<br />694,992
<br />293,833
<br />401,159
<br />Other Debt
<br />HUD 108 Loan - Guarantee Loan -
<br />Senior Center
<br />2,238,000
<br />(131,000)
<br />2,107,000
<br />131,000
<br />1,976,000
<br />Total Other Debt
<br />2,238,000
<br />(131,000)
<br />2,107,000
<br />131,000
<br />1,976,000
<br />Total Government Activity Debt
<br />$ 48,936,820
<br />$ (2,271,828)
<br />$ 46,664,992
<br />$ 2,524,833
<br />$ 44,140,159
<br />Plus unamortized:
<br />Discount (2007 TAB)
<br />$ (36,219) $
<br />2,264 $
<br />(33,955) $
<br />(2,264) $
<br />(31,691)
<br />Discount (2012 POB)
<br />(110,039)
<br />10,119
<br />(99,920)
<br />(10,119)
<br />(89,801)
<br />Premium (2013 RLRB)
<br />293,343
<br />(19,888)
<br />273,455
<br />19,888
<br />253,567
<br />Total General Long-term Obligations
<br />$ 49,083,905 $
<br />(2,279,333) $
<br />46,804,572 $
<br />2,532,338 $
<br />44,272,234
<br />2007 Certificates of Participation
<br />In 2007, the City issued $23,435,000 principal amount of 2007 Certificates of Participation (2007 COPS).
<br />The purpose of the 2007 COPS was to provide funds to refund the outstanding 1999 Certificates of
<br />Participation (Library and Fire Stations Project) of the City of San Leandro and the San Leandro Public
<br />Financing Authority. Interest rates vary from 4.00% to a maximum of 4.375% and are payable
<br />semiannually on each May 1 and November 1. Principal payments are payable annually on November 1.
<br />The COPS evidence fractional interest of the owners in lease payments to be made by the City for use and
<br />occupancy of San Leandro Libraries and San Leandro Fire Stations.
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