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<br />Annual Calendar Year Debt Service Payments Including This Issue (Continued)
<br />
<br />Year
<br />
<br />Lease Purchase Obliqation
<br />Principal
<br />Principal & Interest
<br />
<br />1999 (at 9-2)
<br />2000
<br />2001
<br />2002
<br />2003
<br />2004
<br />2005
<br />2006
<br />2007
<br />2008
<br />2009
<br />2010
<br />2011
<br />
<br />(Paid)
<br />$ 135,000
<br />170,000
<br />175,000
<br />185,000
<br />195,000
<br />205,000
<br />220,000
<br />230,000
<br />245,000
<br />260,000
<br />280,000
<br />130,000
<br />
<br />$2,430,000 *
<br />
<br />(Paid)
<br />$ 267,463.75
<br />277,602.50
<br />274,408.75
<br />275,858.75
<br />276,833.75
<br />277,333.75
<br />282,185.00
<br />281,327.50
<br />284,625.00
<br />287,000.00
<br />293,500.00
<br />133.250.00
<br />
<br />$3,211,388.75
<br />
<br />Total
<br />
<br />*
<br />
<br />83% of this debt will be retired within ten years.
<br />
<br />Revenue Debt
<br />Principal
<br />Principal & Interest
<br />
<br />(Paid)
<br />$ 80,000
<br />80,000
<br />140,000
<br />145,000
<br />155,000
<br />165,000
<br />175,000
<br />140,000
<br />
<br />(Paid)
<br />$146,040.00
<br />140,960.00
<br />193,975.00
<br />189,926.25
<br />190,401.25
<br />190,241.25
<br />189,446.25
<br />144,445.00
<br />
<br />$1,080,000
<br />
<br />$1,385,435
<br />
<br />State Loan
<br />
<br />A State loan of $487,377 was received in 1981 for the repair of Orono Dam. This loan is
<br />payable over 20 years through March 1,2001, at an annual interest rate of 8.374% and is to be
<br />paid from special assessments against benefiting properties and ad valorem taxes. The
<br />outstanding balance as of September 2, 1999 is $90,536.40.
<br />
<br />
<br />Summary of Debt
<br />
<br />Gross
<br />Debt
<br />
<br />G.O.Debt:
<br />Supported by Taxes $ 655,175
<br />Supported by Special Assessments
<br />Supported by Tax Increment
<br />Supported by Revenues
<br />Lease Purchase Obligations
<br />Revenue Debt
<br />
<br />12,905,000
<br />896,500
<br />8,975,000
<br />2,430,000
<br />1,080,000
<br />
<br />Less: Debt
<br />Service Funds(a)
<br />
<br />Net
<br />Direct Debt
<br />
<br />$ (124,729 )$ 530,446
<br />(1,141,518)(d) 11,763,482
<br />(128,527) 767,973
<br />(b) 8,975,000
<br />(c) 2,430,000
<br />(b) 1,080,000
<br />
<br />(a) Debt service funds are as of August 31, 1999 and include money to pay both principal and interest.
<br />(b) Debt service funds are transferred immediately prior to payment date from the appropriate enterprise
<br />funds.
<br />(c) Payable from general revenues.
<br />(d) Excludes $2,700,000 being used to refund the Series 1994A Bonds and defease the Series 1994E
<br />Bonds.
<br />
<br />-13-
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