FY 18 Annual Report

2016 SRF - WTP Improvements

Principal payable 6/1, beginning June 1, 2018. Interest payable 6/1 and 12/1, beginning December 1, 2016. Original Principal Amount: Estimated to be $3,942,000

These bonds were issued through the Iowa Finance Authority's State Revolving Loan Fund to finance the improvements made at the Wastewater Treatment Plant. The City also utilized the State's Sponsored Project program wherein the City increased the principal and reduced the interest and will utilize the one for water quality projects. The final amortization schedule is awaiting final acceptance of the project by the Iowa DNR And Iowa Finance Authority. It is anticipated that this schedule will be completed in the fall of 2018.

Principal and Interest Outstanding (Estimated)

Principal Outstanding Beginning of Fiscal Year

Payments

Paid from Property Tax Revenue

FISCAL YEAR

Coupon Rate

Principal

Interest

Total

2020 2019 2021 2023 2022 2032 2033 2030 2031 2024 2025 2026 2027 2028 2029 2035 2034 2036 2037

182,000 181,000 184,000 190,000 192,000 188,000 186,000 194,000 196,000 206,000 208,000 201,000 204,000 198,000 199,000 212,000 210,000 214,000 217,000

28,424 29,879 26,979 24,040 25,517 10,049 22,547 21,038 19,513 17,973 16,416 14,844 13,264 11,668

210,424 210,879 210,979 212,040 211,517 216,049 216,414 214,264 215,668 212,547 213,038 213,513 213,973 214,416 213,844 217,096 216,762 217,413 218,714

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

3,762,000.00 3,581,000.00 3,399,000.00 3,029,000.00 3,215,000.00 1,267,000.00 1,061,000.00 2,841,000.00 2,651,000.00 2,459,000.00 2,265,000.00 2,069,000.00 1,871,000.00 1,672,000.00 1,471,000.00 643,000.00 853,000.00 431,000.00 217,000.00

1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75% 1.75%

5,096 6,762 8,414 3,413 1,714

Totals as of 6/30/2018

3,762,000.00

307,547.80

4,069,547.80

-

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

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