preliminary fy 2011-12 city of glendale, az annual budget book

Schedule Seven – DETAIL
Long-Term Debt Service
$32,315,000
City of Glendale, Arizona
Municipal Property Corporation
Excise Tax Revenue Bonds, Series 2008A – H/Conv/Media (Tax‐Exempt)
Date: June 1, 2008, maturing in 2032.
Interest: Semi‐annual each January and July, commencing January 1, 2009.
Interest accrues at rates ranging from 3.000% to 5.000%
Rating:
Purpose:
Moody’s “Aaa”
Standard and Poor’s “AAA”
The Series 2008A (tax‐exempt) bonds were issued to refund and redeem the
Corporation’s outstanding Subordinate Excise Tax Revenue Bonds, Series
2006B. The Series 2006B bonds were used to design, acquire, construct and
equip conference center and related media and parking garage facilities for the
City (Conference Center Project).
Debt Service:
Fiscal Year Principal Interest Total
Prior Years 95,000 3,662,765 3,757,765
2012 ‐ 1,462,256 1,462,256
2013 ‐ 1,462,256 1,462,256
2014 ‐ 1,462,256 1,462,256
2015 240,000 1,462,256
2016‐2020 7,340,000 6,700,280 14,040,280
2021‐2025 9,015,000 5,029,522 14,044,522
2026‐2030 11,410,000 2,603,580 14,013,580
2031‐2032 4,215,000 261,676 4,476,676
Total 32,315,000 24,106,847 54,719,591
587
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