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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2018
<br />I NOTE 6 -LONG-TERM DEBT (Continued)
<br />2016 Refunding Lease Revenue Bonds
<br />In fiscal year 2016-17, the San Leandro Public Financing Authority issued $14,125,000 principal amount of
<br />2016 Refunding Lease Revenue Bonds (2016 RLRB). The purpose of the 2016 RLRBs was to refinance the
<br />City's 2007 COPs. The 2016 RLRBs bear interest rates ranging from 2.0% to 5.0% and are payable
<br />semiannually on each May 1 and November 1. Principal payments are payable annually on November 1.
<br />At June 30, 2018, future debt service requirements for the 2016 RLRBs follows:
<br />For The Year
<br />Ending June 30 Principal
<br />2019 $ 875,000
<br />2020 895,000
<br />2021 930,000
<br />2022 970,000
<br />2023 1,015,000
<br />2024-2028 5,840,000
<br />2029-2030 2,695,000
<br />$ 13,220,000
<br />2015 PNC Egui:gment Lease
<br />Interest
<br />$ 569,975
<br />538,950
<br />502,450
<br />459,600
<br />409,975
<br />1,296,825
<br />136,375
<br />$ 3,914,150
<br />Total
<br />$ 1,444,975
<br />1,433,950
<br />1,432,450
<br />1,429,600
<br />1,424,975
<br />7,136,825
<br />2,831,375
<br />$ 17,134,150
<br />On September 18, 2015, the City entered into a Lease/Purchase Agreement with PNC Equipment Finance,
<br />LLC to Lease/Purchase Equipment in the amount of $720,000. The Equipment was for eleven Police SUV
<br />Ford Explorers, two Police Interceptors and two Police Ford Fusions. The interest is 1.91 % payable over 3
<br />years.
<br />During fiscal year 2018, the City repaid the final installment of the 2015 PNC Equipment Lease.
<br />65 530
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