FY 17 Annual Report

CITY OF SPENCER, IOWA Debt Service Fund

2017

2009 G.O. - LANDFILL CELL CLOSURE

#722

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BOND INFORMATION

Principal payable 6/1, beginning June 1, 2011. Interest payable 6/1 and 12/1, beginning December 1, 2009. Original Principal Amount: $426,645.18 These bonds were issued to provide funds for the closure of an existing portion of the City's landfill. The City borrowed money through the Iowa Finance Authority State Revolving Loan Fund. These bonds were called for ealy payment in FY17 and this bond has been repaid in full.

FY 2017 PAYMENTS

PRINCIPAL PAYMENT

INTEREST PAYMENT

OTHER FEES

TOTAL PAYMENT

308,000.00

9,240.00

-

317,240.00

PRINCIPAL AND INTEREST OUTSTANDING

Payments

Principal Outstanding Beginning of Fiscal Year

Coupon Rate

Paid from Property Tax Revenue

Fiscal Year

Principal

Total

Interest

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028

- - - - - - - - - - -

- - - - - - - - - - -

- - - - - - - - - - -

- - - - - - - - - - -

- - - - - - - - - - -

3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%

Totals as of 6/30/2017

-

-

-

-

Bonds MAY be subject to early redemption with prior approval of the Iowa Finance Authority.

DEBT SERVICE