FY 18 Annual Report

2008 SRF - WTP Improvements Principal payable 6/1, beginning June 1, 2010. Interest payable 6/1 and 12/1, beginning December 1, 2009. Original Principal Amount: $1,520,000

These bonds were issued to provide funds to pay a portion of the cost of constructing improvements at the wastewater treatment plant for the City of Spencer. The specific improvements made were the rehabilitation of the secondary digester and cover.

Principal and Interest Outstanding

Principal Outstanding Beginning of Fiscal Year

Payments

Paid from Property Tax Revenue

FISCAL YEAR

Coupon Rate

Principal

Interest

Total

2020 2019 2021 2024 2023 2022 2025 2029 2028 2027 2026

76,000 73,000 78,000 86,000 83,000 81,000 89,000 101,000 98,000 95,000 92,000

28,568 30,940 28,106 18,233 20,930 23,563 15,438 12,545

104,568 103,940 106,106 104,233 103,930 104,563 104,438 104,555 104,545 104,283 104,468

- - - - - - - - - - -

879,000.00 952,000.00 803,000.00 561,000.00 644,000.00 725,000.00 475,000.00 294,000.00 386,000.00 101,000.00 199,000.00

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

3,283 6,468 9,555

Totals as of 6/30/2018

952,000.00

197,629.00

1,149,629.00

-

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

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