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City of Louisville <br />Bond Debt <br />1994 Open Space Sales/Use Tax Revenue Bonds <br />The bonds were issued in 1994 at a face amount of $2,035,000 at 4.6% to 6.0% interest. <br />The bonds are to be used to acquire land for open space buffer zones, trails, wild life <br />habitats, wetland preservation and future parks. The source of payment for the bonds <br />comes from the City's 3/8% open space sales and use tax. <br />Year <br />Interest Principal Total Principal <br />Amount Amount Payment Balance <br />1996 $1,665,000 <br />1997 94,665 200,000 294,665 1,465,000 <br />1998 84,065 210,000 294,065 1,255,000 <br />1999 72,725 220,000 292,725 1,035,000 <br />2000 60,625 240,000 300,625 795,000 <br />2001 46,945 245,000 291,945 550,000 <br />2002 32,735 265,000 297,735 285,000 <br />2003 17,100 285,000 302,100 0 <br />TOTAL $408,860 $1,665,000 $2,073,860 $0 <br />30 <br />