FY 17 Annual Report

CITY OF SPENCER, IOWA Debt Service Fund

2017

2010 G.O. - GREEN INDUSTRIAL PAVING

#711

1

BOND INFORMATION

Principal payable 6/1, beginning June 1, 2012. Interest payable 6/1 and 12/1, beginning June 1, 2011. Original Principal Amount: $575,000

These bonds were issued for the purpose of paying the cost, to that extent, of planning, undertaking and carrying out urban renewal projects within the Spencer Urban Renewal Area #3, consisting of constructing street and sewer improvements and to refund the outstanding principal amount of a General Obligation Urban Renewal Street Improvement Bond Anticipation Project Note issued to pay a portion of the costs of the project. The improvements were made in the Green Industrial Park.

FY 2017 PAYMENTS

PRINCIPAL PAYMENT

INTEREST PAYMENT

OTHER FEES

TOTAL PAYMENT

85,000.00

4,505.00

-

89,505.00

PRINCIPAL AND INTEREST OUTSTANDING

Payments

Principal Outstanding Beginning of Fiscal Year

Fiscal Year

Coupon Rate

Paid from Property Tax Revenue

Principal

Total

Interest

2018

85,000

2,380

87,380

-

85,000

2.80%

Totals as of 6/30/2017

85,000.00

2,380.00

87,380.00

-

The bonds are NOT subject to early redemption.

DEBT SERVICE