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

Schedule Seven – DETAIL
Long-Term Debt Service
$13,585,000
City of Glendale, Arizona
Western Loop 101
Public Facilities Corp, Series 2008C
Date: October 1, 2008, maturing in 2017.
Interest: Semi‐annual each January and July, commencing July 1, 2009.
Interest accrues at rates of 7.500%
Rating:
Purpose:
Moody’s “A2”
Standard and Poor’s “AA”
Most of the proceeds were deposited into a revenue stabilization fund to be
used toward interest payments of Series A and B. The remainder was used
toward the design and construction of a new Major League Baseball spring
training stadium and related facilities, and for capitalized interest on 2008
bond issuance costs.
Debt Service:
Fiscal Year Principal Interest Total
Prior years ‐ 3,738,705 3,738,705
2012 ‐ ‐ ‐
2013 ‐ 1,018,875 1,018,875
2014 2,940,000 1,018,875 3,958,875
2015 4,975,000 798,375 5,773,375
2016‐2017 5,670,000 457,500 6,127,500
Total 13,585,000 7,032,330 20,617,330
611
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