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

Schedule Seven – DETAIL
Long-Term Debt Service
$14,655,000
City of Glendale, Arizona
Street and Highway User Revenue and Refunding Bonds, Series 2004
Date: June 1, 2004, maturing in 2014.
Interest: Semi‐annual each January and July, commencing January 1, 2005.
Interest accrues at rates ranging from 2.500% to 4.000%
Rating:
Purpose:
Moody’s “Aaa”
Standard and Poor’s “AAA”
The bonds were used to finance the improvement, construction,
reconstruction, acquisition of right‐of‐way or maintenance of streets and
highways of the City including certain traffic control devices and to refund
portions of the City’s outstanding highway revenue bonds.
Debt Service:
Fiscal Year Principal Interest Total
Prior years 7,075,000 3,011,109 10,086,109
2012 2,435,000 290,913 2,725,913
2013 2,525,000 202,644 2,727,644
2014 2,620,000 104,800 2,724,800
Total 14,655,000 3,609,465 18,264,465
607
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