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Year <br />2009 <br />2010 <br />2011 <br />2012 <br />2013 <br />Total <br />Debt Service and Financial Obligations <br />Description of Bonds and Notes <br />2003 Sales Tax Revenue Refunding Bonds <br />These bonds were issued in 2003 at a face amount of $3,830,000 at 2.0 % to 3.5° o interest. The bonds were used for <br />refunding the City's 1993 Sales Tax Revenue Bonds which were issued to finance certain capital improvements for the City <br />including a library facility, a City recreation center, and various other capital projects. The source of payment for the <br />bonds comes from one -cent of the City's three and three - eigths cents sales tax. <br />Interest Amount Principal Amount <br />54,938 <br />43,088 <br />29,925 <br />15,225 <br />$143,176 <br />395,000 <br />405,000 <br />420,000 <br />435,000 <br />$1,655,000 <br />9 <br />Total Payment Principal Balance <br />449,938 <br />448,088 <br />449,925 <br />450,225 <br />$1,798,176 <br />1,655,000 <br />1,260,000 <br />855,000 <br />435,000 <br />