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

Schedule Seven – DETAIL
Long-Term Debt Service
$65,500,000
City of Glendale, Arizona
Subordinate Lien Water & Sewer Revenue Obligations, Series 2008
Date: February 1, 2008, maturing in 2028.
Interest: Semi‐annual each January and July, commencing July 1, 2008.
Interest accrues at rates ranging from 3.000% to 5.000%
Rating:
Purpose:
Moody’s “Aaa”
Standard and Poor’s “AAA”
The proceeds of the obligations were used to pay for the City’s share of
upgrades to, and expansion of, the 91 st Avenue Regional Wastewater
Treatment Plant, replacement and rehabilitation of water lines throughout
the system, water resource master plan and water treatment plant design,
design and construction of upgrades at the Cholla Water Treatment Plant to
meet federal regulations, construction of water treatment plants and
associated transmission lines and design and construction of upgrades at the
wastewater treatment plants to meet federal regulations.
Debt Service:
Fiscal Year Principal Interest Total
Prior years 6,945,000 8,233,014 15,178,014
2012 2,455,000 2,604,038 5,059,038
2013 2,540,000 2,518,113 5,058,113
2014 2,630,000 2,429,213 5,059,213
2015 2,730,000 2,330,588 5,060,588
2016‐2020 19,535,000 9,921,350 29,456,350
2021‐2025 14,885,000 6,254,775 21,139,775
2026‐2028 13,780,000 1,400,500 15,180,500
Total 65,500,000 35,691,589 101,191,589
603
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