FY 18 Annual Report

2010 SRF - WTP Build America Bonds

Principal payable 6/1, beginning June 1, 2013. Interest payable 6/1 and 12/1, beginning June 1, 2011. Original Principal Amount: $7,500,000

These bonds were issued through the Iowa Finance Authority's State Revolving Loan Fund, utilizing the Federal Build America Bond program. As part of the Build America Bond program, the City received an annual interest subsidy from the Federal Government. The proceeds of the bond were used to construct the Phase I of the Combined Sewer Separation project, which included a new equalization basin located at the Wastewater Treatment Plant, a new pumping station and new overflow collection system along the Little Sioux River.

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 2025 2025 2025 2028 2027 2026 2029

340,000 330,000 351,000 387,000 375,000 363,000 399,000 412,000 484,000 469,000 454,000 440,000 500,000 426,000

162,000 171,900 151,800 119,130 130,380 141,270 107,520 70,410 83,190 95,550 29,520 43,590 57,210 15,000

502,000 501,900 502,800 506,130 505,380 504,270 506,520 507,550 509,190 510,410 513,520 512,590 511,210 515,000

- - - - - - - - - - - - - -

5,400,000.00 5,730,000.00 5,060,000.00 3,971,000.00 4,346,000.00 4,709,000.00 3,584,000.00 3,185,000.00 2,773,000.00 2,347,000.00 984,000.00 1,453,000.00 1,907,000.00 500,000.00

3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25%

Totals as of 6/30/2018

5,730,000.00 1,378,470.00

7,108,470.00

-

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

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