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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2016
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<br />NOTE 6 - 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, 2016, follows:
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<br />Balance Balance Due within Due in more
<br />Governmental Activity Debt:June 30, 2015 Additions Retirements June 30, 2016 one year than one year
<br />Certificates of Participation Bonds:
<br />2007 Certificates of Participation 17,605,000$ $(870,000)$ 16,735,000$ 910,000 $ 15,825,000$
<br />Lease Revenue Bonds:
<br />2013 Refunding Lease Revenue Bonds
<br />City portion 8,603,000 (140,000) 8,463,000 587,000 7,876,000
<br />2012 Taxable Pension Obligation Bonds 15,555,000 (1,210,000) 14,345,000 1,305,000 13,040,000
<br />Total Governmental Activity Debt 41,763,000 (2,220,000) 39,543,000 2,802,000 36,741,000
<br />Capital Leases:
<br />2012 Fire Truck 401,159 (198,397) 202,762 202,762
<br />2014 PNC Lease 314,282 (314,282)
<br />2015 PNC Lease 720,000 (243,818) 476,182 235,829 240,353
<br />Total Capital Leases 715,441 720,000 (756,497) 678,944 438,591 240,353
<br />Other Debt
<br />HUD 108 Loan - Guarantee Loan -
<br />Senior Center 1,976,000 (131,000) 1,845,000 131,000 1,714,000
<br />Total Other Debt 1,976,000 (131,000) 1,845,000 131,000 1,714,000
<br /> Total Government Activity Debt 44,454,441$ 720,000$ (3,107,497)$ 42,066,944$ 3,371,591$ 38,695,353$
<br />Plus unamortized:
<br />Discount (2007 TAB)(31,691)$ $2,264$ (29,427)$ (2,264)$ (27,163)$
<br />Discount (2012 POB)(89,801)10,119 (79,682) (10,119) (69,563)
<br />Premium (2013 RLRB)253,567 (19,888) 233,679 19,888 213,791
<br />Total General Long-term Obligations 44,586,516$ 720,000$ (3,115,002)$ 42,191,514$ 3,379,096$ 38,812,418$
<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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