|
Debt Service and Financial Obligations
<br />Description of Bonds and Notes
<br />Limited Tax General Obligation Library Bonds Series 2004
<br />On January 21, 2004, the City issued Limited Tax General Obligation Library Bonds Series 2004 in the amount
<br />of $7,405,000 at 2.0% to 4.25% to finance the construction of a new Li brary. The bonds are limited tax
<br />general obligation bonds of the City payable from the Limited Tax Levy le vied on the taxable property located
<br />within the City and other available City funds. The current levy rate is 1.526 mills, not to exceed 1.581 mills
<br />Year Interest Amount Principal Amount Total Payment Principal Balance
<br />2011 5,020,000
<br />2012 188,783 335,000 523,783 4,685,000
<br />2013 178,733 350,000 528,733 4,335,000
<br />2014 167 ,533 360 ,000 527 ,533 3 ,975 ,000 ,,,,,
<br />2015 155,653 375,000 530,653 3,600,000
<br />2016 142,715 390,000 532,715 3,210,000
<br />2017 128,675 405,000 533,675 2,805,000
<br />2018 113,690 425,000 538,690 2,380,000
<br />2019 97,540 435,000 532,540 1,945,000
<br />2020 80,575 450,000 530,575 1,495,000
<br />2021 62,575 475,000 537,575 1,020,000
<br />2022 43100 500000 543100 520000 2022 43 ,100 500 ,000 543 ,100 520 ,000
<br />2023 22,100 520,000 542,100 -
<br />Total 1,381,672 5,020,000 6,401,672
<br />8
|