manitou springs city council regular meeting agenda city council

Manitou Springs Park Authority
Tab 16
This budget accounts for the debt service related to the El Paso/Beckers Lane Park facility.
The Manitou Springs Park Authority was established in 1998 for the purposes of issuing bonds
for the acquisition and development of the El Paso Blvd/Beckers Lane Park facility. The Manitou
Springs Park Authority Fund is an Enterprise Fund of the City of Manitou Springs, whose
budgetary purpose is to convey payment for the debt service related to the El Paso / Beckers
Lane Park facility. The sales tax associated with this debt is received into the El Paso Beckers
fund and then dispensed in the form of a lease payment to the Manitou Springs Park Authority.
The bonds, in the amount of $765,000, were issued 12/01/98 for a term of 15 years. Final
payment will be made 6/1/2013.
2010 2011 Original Final 2013
ACCOUNT DESCRIPTION ACTUAL ACTUAL Budget BUDGET BUDGET
------------------ -------------------------------------------- ---------------------------- ------------ -------------- -------------
Revenues:
61-361-828 LEASE REVENUE-from El Paso/Beckers 73,086 76,156 76,454 71,227 72,785
prior fund balance:
Total Funds available: 73,086 75,936 76,454 71,227 72,785
2012
Total Operating Expenses:
61-498-573 PAYING AGENT FEES--98A EL 1,356 2,613 1,000 1,000 1,000
61-498-815 BOND INTEREST EXP--98A EL 12,442 8,323 5,227 5,227 1,785
Total Expenses: 13,798 10,936 6,227.00 6,227 2,785
ENDING NET POSITION 59,288 65,000 70,227 65,000 70,000
Current portion of Long Term Debt
61-225-812 BOND PRINCIPAL--98A EL PASO 65,000 65,000 70,227 65,000 70,000
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