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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2015
<br />
<br />
<br />NOTE 7 - LONG-TERM DEBT (Continued)
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<br />2012 Fire Truck Lease
<br />
<br />On November 9, 2011, the City entered into a Lease/Purchase Agreement with Oshkosh Capital to
<br />Lease/Purchase Equipment in the amount of $971,090. The Equipment was for the Fire Department’s
<br />2010 Triple Combination Pumper Truck. The interest is 2.20% payable over five years.
<br />
<br />At June 30, 2015, future debt service requirements for the 2012 Lease Purchase Agreement follows:
<br />
<br />For The Year
<br /> Ending June 30 Principal Interest Total
<br />2016 198,397$ 8,825$ 207,222$
<br />2017 202,762 4,461 207,223
<br />401,159$ 13,286$ 414,445$
<br /> 2014 PNC Equipment Lease
<br />
<br />On July 29, 2014, the City entered into a Lease/Purchase Agreement with PNC Equipment Finance, LLC to
<br />Lease/Purchase Equipment in the amount of $473,917. The Equipment was for ten Police SUV Ford
<br />Explorers. The interest is 1.38% payable over 3 years.
<br />
<br />At June 30, 2015, future debt service requirements for the 2014 equipment lease follows:
<br />
<br />For The Year
<br /> Ending June 30 Principal Interest Total
<br />2016 154,369$ 6,123$ 160,492$
<br />2017 159,914 578 160,492
<br />314,283$ 6,701$ 320,984$
<br /> HUD 108 Guarantee Loan – Senior Center
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<br />In 2011, the City received a $2,500,000 20-year federal loan from HUD, at an interest rate of 3% to finance
<br />the acquisition and construction of senior center facility within the City of San Leandro. The loan is secured
<br />and payable from the Community Development Block Grant Fund.
<br />
<br />At June 30, 2015future debt service requirements for the HUD 108 Guarantee loan follows:
<br />
<br />For The Year
<br /> Ending June 30 Principal Interest Total
<br />2016 1,210,000$ 708,124$ 1,918,124$
<br />2017 1,305,000 678,236 1,983,236
<br />2018 1,415,000 636,868 2,051,868
<br />2019 1,540,000 585,644 2,125,644
<br />2020 1,680,000 519,116 2,199,116
<br />2021-2024 8,405,000 1,171,523 9,576,523
<br />15,555,000$ 4,299,511$ 19,854,511$
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