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6.1 B
<br /> Page 69
<br /> NOTE 6- GOVERNMENTAL ACTIVITIES LONG-TERM DEBT �CONTINUED�
<br /> Loans:
<br /> Redwood City School District Loan entered into by the Redevelopment Agency in 1998 to finance a
<br /> portion of the land and buildings located at 2107 Broadway that were acquired for the purpose of
<br /> eventually being resold to a developer; original amount of $634,815 at 0% interest due in 15 annual
<br /> installments of $42,321 through 2013 payable out of the redevelopment agency fund.
<br /> 8. Changes in Long-Term Obligations
<br /> , As of June 30, 2010, the City had the following long-term obligations outstanding:
<br /> Interest Beginning Ending Due Within
<br /> Rate Balance Additions Retirements Balance One Year
<br /> Governmental Activities: / $ g $ � $
<br /> Revenue Bonds
<br /> 1998 Lease Revenue Refunding Bonds 4.00-5.00 3,805,000 1,040,000 2,765,000 1,095,000
<br /> 1998 City Hall Lease Revenue C.O.P.'s variable 8,585,000 8,585,000
<br /> 2003 PFA Refunding Bonds 2.50-438 7,835,000 795,000 7,040,000 820,000
<br /> Unamortized premiums 2,857 286 2,571 286
<br /> Subtotal 20,227,857 10,420,286 9,807,571 1,915,286
<br /> Tax Increment Bonds
<br /> 1997 Tax Allocation Refunding Bonds 3.80-5.15 4,195,000 4,195,000
<br /> 2003 Tax Allocation Bonds 3.50-5.80 33,997,448 33,997,448 1,225,000
<br /> Accreted interest payable 7,202,364 1,515,545 8,717,909
<br /> Unamortized premiums 738,514 30,771 707,743 30,771
<br /> Subtotal 46,133,326 1,515,545 4,225,771 43,423,100 1,255,771
<br /> Loans
<br /> Redwood City School District Loan 169,284 42,321 126,963 42,321
<br /> Total Bonds and Loans 66,530,467 1,515,545 14,688,378 53,357,634 3,213,378
<br /> Accrued Sick Leave and Vacation 9,692,581 _ 291,909 340,302 9,644,188 350,539
<br /> Total Governmental Activities Long-Term Debt 76,223,048 1,807,454 15,028,680 63,001,822 3,563,917
<br /> At year-end, $874,791 of internal service fund compensated absences is included in the above amounts.
<br /> For the governmental activities, compensated absences are generally liquidated by the general fund.
<br /> C. Annual Repayment Requirements for Long-Term Debt
<br /> Governmental Activities:
<br /> Year End Revenue Bonds Tax Increment Bonds Loans Total
<br /> June 30 Principal Interest Principal Interest Principal Interest Principal Interest
<br /> $ $ $ $ $ $ $ $
<br /> 2011 1,915,000 367,928 1,225,000 632,713 42,321 3,182,321 1,000,641
<br /> 2012 2,010,000 281,063 1,265,000 585,975 42,321 3,317,321 867,038
<br /> 2013 750,000 220,748 2,480,000 511,075 42,321 3,272,321 731,823
<br /> 2014 775,000 193,091 2,895,000 385,481 3,670,000 578,572
<br /> 2015 805,000 163,265 3,045,000 229,556 3,850,000 392,821
<br /> 2016-2020 3,550,000 309,450 10,027,996 7,426,817 13,577,996 7,736,267
<br /> 2021-2025 6,322,518 11,207,482 6,322,518 11,207,482
<br /> 2026-2030 4,574,936 12,950,064 4,574,936 12,950,064
<br /> 2031-2035 2,161,998 8,358,002 2,161,998 8,358,002
<br /> 9,805,000 1,535,545 33,997,448 42,287,165 126,963 43,929,411 43,822,710
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