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C1tyt)f , FINANCE COMMITTEE
<br />Louisville COMMUNICATION
<br />COLORADO -SINCE 1878
<br />SUBJECT: DEBT SERVICE LEVY FOR RECREATION CENTER BONDS
<br />DATE: SEPTEMBER 27, 2021
<br />PRESENTED BY: KEVIN WATSON, FINANCE DIRECTOR
<br />SUMMARY:
<br />On November 15, 2016, City of Louisville voters approved the issuance of up to $28.6
<br />million of general obligation bonds for the purpose of funding improvements to the
<br />Recreation/Senior Center and the Memory Square Pool facilities. Voters approved a mill
<br />levy of up to 3.35 mills to pay debt service on the bonds and approved a new sales tax of
<br />0.15% to pay for operating and maintenance costs of the Recreation & Senior Center and
<br />the Memory Square Pool facility.
<br />On May 23, 2017, the City of Louisville issued $27,215,000 of Limited Tax General
<br />Obligation Bonds. The bond coupons range from 2.0%-4.0%, which resulted in an
<br />issuance premium of $1,846,241. The bonds mature annually beginning on December
<br />1, 2018 through December 2042. The bonds can be called on December 1, 2026, or on
<br />any date thereafter. Remaining debt service at December 31, 2020 was $38,311,200.
<br />Principal
<br />Year Interest Amount Principal Amount Total Pavment Balance
<br />2020
<br />25.165.000
<br />2021
<br />1.006.600
<br />735,000
<br />1,741.600
<br />24.430,000
<br />2022
<br />977,200
<br />765,000
<br />1.742,200
<br />23,665.000
<br />2023
<br />946,600
<br />795,000
<br />1.741.600
<br />22,870.000
<br />2024
<br />914.800
<br />825,000
<br />1,739.800
<br />22.045,000
<br />2025
<br />881,800
<br />860.000
<br />1,741.800
<br />21,185.000
<br />2026
<br />847.400
<br />895.000
<br />1,742.400
<br />20,290,000
<br />2027
<br />811,600
<br />930.000
<br />1,741,600
<br />19,360.000
<br />2028
<br />774,400
<br />965.000
<br />1.739,400
<br />18,395.000
<br />2029
<br />735.800
<br />1,005.000
<br />1.740,800
<br />17,390,000
<br />2030
<br />695,600
<br />1.045.000
<br />1.740,600
<br />16,345.000
<br />2031
<br />653.800
<br />1.090.000
<br />1.743, 800
<br />15, 255.000
<br />2032
<br />610.200
<br />1.130.000
<br />1.740,200
<br />14,125.000
<br />2033
<br />665.000
<br />1.176.000
<br />1,740,000
<br />12.950.000
<br />2034
<br />518.000
<br />1.226.000
<br />1,743,000
<br />11.725,000
<br />2035
<br />469.000
<br />1.270.000
<br />1,739,000
<br />10.455.000
<br />2036
<br />418.200
<br />1,325,000
<br />1.743,200
<br />9,130.000
<br />2037
<br />365.200
<br />1.375.000
<br />1.740,200
<br />7,755.000
<br />2038
<br />310.200
<br />1.430.000
<br />1.740,200
<br />6,325.000
<br />2039
<br />253.000
<br />1.490,000
<br />1.743,000
<br />4,835.000
<br />2040
<br />193.400
<br />1,550.000
<br />1.743,400
<br />3.285.000
<br />2041
<br />131.400
<br />1.610.000
<br />1.741,400
<br />1,675.000
<br />2042
<br />67.000
<br />1.675.000
<br />1.742.000
<br />-
<br />Total
<br />13,146.200
<br />25.165.000
<br />38.311,200
<br />FINANCE COMMITTEE COMMUNICATION
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