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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2015
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<br />NOTE 7 - LONG-TERM DEBT
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<br />A. Governmental Activities Long-Term Debt
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<br />Summary of changes in governmental activities long-term debt for the year ended June 30, 2015, follows:
<br />
<br />Balance Balance Due within Due in more
<br />Governmental Activity Debt:June 30, 2014 Additions Retirements June 30, 2015 one year than one year
<br />Certificates of Participation Bonds:
<br />2007 Certificates of Participation 18,445,000$ $(840,000)$ 17,605,000$ 870,000$ 16,735,000$
<br />Lease Revenue Bonds:
<br />2013 Refunding Lease Revenue Bonds
<br />City portion 8,743,000 (140,000) 8,603,000 140,000 8,463,000
<br />2012 Taxable Pension Obligation Bonds 16,675,000 (1,120,000) 15,555,000 1,210,000 14,345,000
<br />Total Governmental Activity Debt 43,863,000 (2,100,000) 41,763,000 2,220,000 39,543,000
<br />Capital Leases:
<br />2010 Pumper Truck 99,707 (99,707)
<br />2012 Fire Truck 595,285 (194,126) 401,159 198,397 202,762
<br />2014 PNC Lease 473,917 (159,635) 314,282 154,369 159,913
<br />Total Capital Leases 694,992 473,917 (453,468) 715,441 352,766 362,675
<br />Other Debt
<br />HUD 108 Loan - Guarantee Loan -
<br />Senior Center 2,107,000 (131,000) 1,976,000 131,000 1,845,000
<br />Total Other Debt 2,107,000 (131,000) 1,976,000 131,000 1,845,000
<br /> Total Government Activity Debt 46,664,992$ 473,917$ (2,684,468)$ 44,454,441$ 2,703,766$ 41,750,675$
<br />Plus unamortized:
<br />Discount (2007 TAB)(33,955)$ $2,264$ (31,691)$ (2,264)$ (29,427)$
<br />Discount (2012 POB)(99,920)10,119 (89,801) (10,119) (79,682)
<br />Premium (2013 RLRB)273,455 (19,888) 253,567 19,888 233,679
<br />Total General Long-term Obligations 46,804,572$ 473,917$ (2,691,973)$ 44,586,516$ 2,711,271$ 41,875,245$
<br /> 2007 Certificates of Participation
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<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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