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6.1 B - Attachment No. 4
<br /> NOTE 7—BUSINESS-TYPE ACTIVITIES LONG-TERM DEBT(CONTINUED�
<br /> February 2034, with total principal and interest remaining of$53,768,489. The bonds are payable out of
<br /> net revenues which are expected to equal at least 120%of the annual debt service requirement.
<br /> Water Revenue Bonds Series 2006A - In February 2006, Redwood City Public Financing Authority
<br /> issued $26,000,000 of bonds to finance a portion of the City's recycled water project. Principal and
<br /> interest is payable in 29 annual installments of $520,000 to $1,505,000 from February 2007 through
<br /> February 2035, with total principal and interest remaining of$40,852,938. The bonds are payable out of
<br /> net revenues which are expected to equal at least 120%of the annual debt service requirement.
<br /> Water Revenue Bonds Series 2007A — In February 2007, Redwood City Public Financing Authority
<br /> issued $15,150,000 of bonds to finance a portion of the City's recycled water project. Principal and
<br /> interest is payable in 28 annual installments of $285,000 to $910,000 from February 2008 through
<br /> February 2035, with total principal and interest remaining of$24,652,538. The bonds are payable out of
<br /> net revenues which are expected to equal at least 120%of the annual debt service requirement.
<br /> Loans:
<br /> Yacht Harbor Rehabilitation Loan from the State of California in the original principal amount of
<br /> $880,000. The loan is payable in annual installments of principal and interest of$53,648 through the year
<br /> 2024, with total principal and interest remaining of$804,702. The loan is payable out of net revenues of
<br /> the Port , but subordinated to the Port 1999 Revenue Bonds. At June 30, 2009, the ratio of net revenues
<br /> to the debt service payment due during FY 2008/09 was 84.47 (8447%).
<br /> Parking Fund Loan agreement with the civic center construction fund in the original principal amount of
<br /> $1,300,000 to finance the construction of the parking fund's downtown parking structure. Payments are
<br /> for interest only until funds are available to pay principal. All principal is to be repaid by July 1, 2013 if
<br /> funds are available. In 2000/O1, the civic center construction fund was closed, and the loan receivable
<br /> was transferred to the capital outlay fund.
<br /> B. Changes in Debt
<br /> Interest Beginning Ending Due Within
<br /> Rate Balance Additions Retirements Balance One Yeaz
<br /> Business-tvpe Activities: % $ $ $ $ $
<br /> Revenue Bonds:
<br /> Port of Redwood City- 1999 Series 4.00-5.25 9,375,000 240,000 9,135,000 250,000
<br /> Water Revenue Bonds Series 2005A 2.75-4.25 33,470,000 780,000 32,690,000 805,000
<br /> Water Revenue Bonds Series 2006A 3.50-4.50 24,890,000 540,000 24,350,000 555,000
<br /> Water Revenue Bonds Series 2007A 4.00-4.50 14,865,000 300,000 14,565,000 315,000
<br /> Unamortized Premium 17,018 630 16,388 630
<br /> Unamortized Discount (635,753) (20,212) (615,541) (20,557)
<br /> 81,981,265 1,840,418 80,140,847 1,905,073
<br /> Loans:
<br /> Yacht Harbor Rehabilitation Loan 4.70 602,673 26,528 576,145 27,721
<br /> Parking Fund Loan variable 1,300,000 1,300,000
<br /> 1,902,673 26,528 1,876,145 27,721
<br /> Total Bonds and Loans 83,883,938 1,866,946 82,016,992 1,932,794
<br /> Accrued Sick Leave and Vacation 904,549 502,410 451,688 955,271 460,994
<br /> Total Business-type Activities Long-Term Debt 84,788,487 502,410 2,318,634 82,972,263 2,393,788
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