AgdaPkt 2005-01-24 - Laserfiche WebLink

Browse Search

NOTE 7 - BUSINESS- TYPE ACTIVITIES LONG-TERM DEBT A. Description Revenue Bonds: Port of Redwood City 1999 Revenue Bonds due in annual installments of $170,000 to $690,000 through 2030. On April 1, 1999, the Port issued bonds in the amount of $10,945,000 to finance improvements to the Port, the majority of which will be expended on cleaning up hazardous waste remaining at the Port's liquid bulk terminal. Loans: Yacht Harbor Rehabilitation Loan from the State of California in the original principal amount of $880,000. The loan is payable in annual installments of principal and interest of $53,613 through the year 2024. Parking Fund Loan agreement with the civic center construction fund in the original principal amount of $1,300,000 to finance the construction of the parking fund's downtown parking structure. Payments are for interest only until funds are available to pay principal. All principal is to be repaid by July 1, 2013 if funds are available. In 2000/01, the civic center construction fund was closed, and the loan receivable was transferred to the capital outlay fund. B. Changes in Debt Interest Beginning Ending Current Rate Balance Addi ti ons Retirements Balance P orti on % $ $ $ $ $ Revenue Bonds: Port of Redwood City - 1999 Series 4.000-5.250 10,415,000 190,000 10,225,000 200,000 Loans: Yacht Harbor Rehabilitation Loan Parking Fund Loan 4.70 718,647 21,274 697,373 22,231 1,300,000 1,300,000 2,018,647 21,274 1,997,373 22,231 12,433,647 211,274 12,222,373 222,231 649,186 119,688 73,792 695,082 341,453 13.082.833 119.688 285.066 12.917.455 563.684 none Total Bonds and Loans Accrued Sick Leave and Vacation Total Business-type Activities Long-Term Debt 42