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Debt Service and Financial Obligations
<br />Description of Bonds and Notes
<br />2002 General Obligation Refunding Bonds - Golf Course
<br />These bonds were issued in 2002 at a face amount of $2,215,000 at 2.5 / to 3.6' o interest. The bonds were used
<br />for refunding the City's 1992 General Obligation Bonds, which were issued to refund the original 1988 Certificates
<br />of Participation use to construct the City's eighteen hole municipal golf course. Golf course user fees are the
<br />source of payment.
<br />Year
<br />2003
<br />2004
<br />2005
<br />2006
<br />2007
<br />2008
<br />2009
<br />2010
<br />2011
<br />2012
<br />Total
<br />Balance
<br />Interest Amount Principal Amount Total Payment Outstanding
<br />2,020,000
<br />61,713 200,000 261,713 1,820,000
<br />56,713 205,000 261,713 1,615,000
<br />51,075 210,000 261,075 1,405,000
<br />44,775 215,000 259,775 1,190,000
<br />39,185 220,000 259,185 970,000
<br />32,805 230,000 262,805 740,000
<br />25,675 240,000 265,675 500,000
<br />17,755 245,000 262,755 255,000
<br />9,180 255,000 264,180 -
<br />$338,875 S2,020,000 $2,358,875
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