Laserfiche WebLink
<br />41 <br />a maximum of 5.54%. Debt service is payable from any available City resources. The principal <br />balance outstanding as of June 30, 2016 was $14,345,000. <br /> <br />2013 Refunding Lease Revenue Bonds. In 2013, the City issued $8,883,000 principal <br />amount of 3013 Refunding Lease Revenue Bonds (the “2013 RLRB”). The purpose of the 2013 <br />RLRBs was to refund and retire the City’s 2003 COPs and 2001 COPs. The 2013 RLRBs bear <br />interest rates ranging from 2.0% to 5.00% and are payable semiannually on each June 1 and <br />December 1. Principal payments are payable annually on December 1. The principal balance <br />outstanding as of June 30, 2016 was $8,463,000. <br /> <br />2015 PNC Lease for Police Vehicles. On September 18, 2015, the City entered into a <br />Lease/Purchase Agreement with PNC Equipment Finance, LLC to for the purpose of <br />leasing/purchasing certain equipment in the amount of $720,000. The equipment was for <br />eleven Police SUV Ford Explorers, two Police Ford Interceptors, and two Police Ford <br />Fusions. The interest rate is 1.91%, payable over 3 years. The principal balance outstanding <br />as of June 30, 2016 was $476,181.49. <br /> <br />2016 Equipment Lease/Purchase Agreement. In 2016, the City entered into an <br />Equipment Lease/Purchase Agreement with Bank of America, National Association in the <br />amount of $5,409,044.94. The equipment financed was generally for energy efficiency <br />improvements to public buildings throughout the City. The interest rate is 2.10% payable semi– <br />annually on January 21 and July 21, commencing January 21, 2017, through July 21, 2032. <br /> <br /> <br /> <br />