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

Schedule Seven – DETAIL
Long-Term Debt Service
$38,300,000
City of Glendale, Arizona
General Obligation Refunding Bonds, Series 2010
Date: Nov 30, 2010, maturing in 2022.
Interest: Semi‐annual each January and July, commencing July 1, 2011.
Interest accrues at rates ranging from 2.000% to 5.000%
Rating:
Purpose:
Moody’s “Aa1”
Standard and Poor’s “AA”
The bond proceeds were used to advance refund the 2012‐2022maturities of the
City of Glendale General Obligation Refunding Bonds Series 2002 and the 2014‐
2017 maturities of General Obligation Bonds Series 2003. The proceeds were also
used to pay for the issuance costs of the refunding project.
Debt Service:
Fiscal Year Principal Interest Total
Prior years ‐ 977,399 977,399
2012 ‐ 1,667,600 1,667,600
2013 ‐ 1,667,600 1,667,600
2014 2,475,000 1,667,600 4,142,600
2015 5,645,000 1,568,600 7,213,600
2016‐2020 23,600,000 4,439,000 28,039,000
2021‐2022 6,580,000 430,100 7,010,100
Total 38,300,000 12,417,899 50,717,899
599
Return to TOC