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

Schedule Seven – DETAIL
Long-Term Debt Service
$52,780,000
City of Glendale, Arizona
Municipal Property Corporation
Excise Tax Revenue Bonds, Series 2008B – H/Conv/Media (Taxable)
Date: June 1, 2008, maturing in 2033.
Interest: Semi‐annual each January and July, commencing January 1, 2009.
Interest accrues at rates ranging from 5.446% to 6.157%
Rating:
Purpose:
Moody’s “Aaa”
Standard and Poor’s “AAA”
The Series 2008B (taxable) 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 1,705,000 7,763,020 9,468,020
2012 470,000 3,076,071 3,546,071
2013 740,000 3,050,475 3,790,475
2014 1,030,000 3,010,174 4,040,174
2015 1,345,000 2,954,081 4,299,081
2016‐2020 7,905,000 13,577,360 21,482,360
2021‐2025 10,550,000 10,938,972 21,488,972
2026‐2030 14,225,000 7,291,426 21,516,426
2031‐2033 14,810,000 2,026,886 16,836,886
Total 52,780,000 53,688,465 106,468,465
588
Return to TOC