| |
Series 2017 Bonds
@ 2.77% Interest |
|
Year Ended
December.31 |
Principal |
Interest |
Total
Payment Due |
| 2018 |
$ 315,000 |
$ 199,440 |
$ 514,440 |
| 2019 |
325,000 |
190,715 |
515,715 |
| 2020 |
330,000 |
181,712 |
511,712 |
| 2021 |
340,000 |
172,571 |
512,571 |
| 2022 |
350,000 |
163,153 |
513,153 |
| 2023 |
360,000 |
153,458 |
513,458 |
| 2024 |
370,000 |
143,486 |
513,486 |
| 2025 |
380,000 |
133,237 |
513,237 |
| 2026 |
390,000 |
122,711 |
512,711 |
| 2027 |
400,000 |
111,908 |
511,908 |
| 2028 |
410,000 |
100,828 |
510,828 |
| 2029 |
425,000 |
89,471 |
514,471 |
| 2030 |
435,000 |
77,699 |
512,699 |
| 2031 |
450,000 |
65,649 |
515,649 |
| 2032 |
460,000 |
53,184 |
513,184 |
| 2033 |
475,000 |
40,442 |
515,442 |
| 2034 |
485,000 |
27,284 |
512,284 |
| 2035 |
500,000 |
13,850 |
513,850 |
|
$ 7,200,000 |
$ 2,040,798 |
$ 9,240,798 |
|
.... |
In 2004 and 2006, the District issued bonds totaling approximately $6.9 million and used the net cash proceeds to subsidize the Developer's costs to develop its private land prior to the start of homebuilding activities. In 2017, the District refinanced those bonds to a lower interest rate (from 5.00% on the old bonds to 2.77% on the new bonds).
The repayment schedule for the District's Bonds is provided on the left follows:
|