Reso 2011-053 Attachment - Laserfiche WebLink

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City of San Leandro Notes to Basic Financial Statements For the year ended June 30, 2010 NOTE 7 - LONG-TERM DEBT, Continued A. Governmental Activities Long -Term Debt, Continued 2005 Master Equipment Lease/Purchase Agreement In 2005, the City entered into a Lease/Purchase Agreement with Bank of America to Lease/Purchase Equipment in the amount of $3,048,260. The Equipment was for the Police Departments computer upgrades for servers, mobile laptops, and computer aided dispatch and records management system. The interest rates range from 3.40% to 3.70% payable in seven (7) years. At June 30, 2010, future debt service requirements for the 2005 Master Equipment Lease Purchase Agreement were as follows: For the Year Ending June 30, Principal Interest Total 2011 $ 380,095 $ 23,447 $ 403,542 2012 396,429 9J72 405,601 Total debt service $ 776,524 $ 32,619 $ 809,143 2010 Master Equipment Lease/Purchase Agreement In 2010, the City entered into a Lease/Purchase Agreement with Oshkosh Capital to Lease/Purchase Equipment in the amount of $461,717. The Equipment was for the Fire Departments 2010 Triple Combination Pumper Truck. The interest rates range from 3.80% payable in five (5) years. At June 30, 2010, future debt service requirements for the 2009 Master Equipment Lease Purchase Agreement were as follows: For the Year Ending June 30, Principal Interest Total 2011 $ 85,263 $ 18,423 $ 103,686 2012 88,664. 15,021 103,685 2013 92,202 11,483 103,685 2014 95,881 7,804 103,685 2015 99,707 3,978 103,685 Total debt service $ 461,717 $ 56,709 $ 518,426 68