California Comprehensive Annual Financial Report - City of Temecula

More documents

Recommendations

Info

City of Temecula Notes to Financial Statements (Continued) Note 6: Long-Term Liabilities (Continued) Tax Allocation Bonds 2002 Tax Allocation Bonds: In April of 2002 the Redevelopment Agency of the City of Temecula issued $28,055,000 of 2002 Tax Allocation Bonds consisting entirely of current interest bonds. The proceeds from the bonds were used to refund the Agency's Redevelopment Project No. I 1993 Series A Tax Allocation Bonds; discharge an obligation pursuant to the County Pass-Through Agreement of the Agency to the County of Riverside, finance redevelopment activities within or of benefit to the Project Area and provide for the costs of issuing the 2002 Bonds, including the premium for the "financial guaranty insurance policy and Debt Service Reserve Surety Bond. A portion of the proceeds from the sale of the 2002 Bonds, together with certain funds made available through the defeasance of the refunded bonds, were deposited in trust with an escrow agent to provide the remaining debt service payments on the refunded debt. The trust invests solely in direct obligations of the United States Government. The advanced refunding met the requirements of an insubstance defeasance. The Project 1993 bonds were removed from the RDA's long-term debt. The defeased debt was called on June 10, 2002. The 2002 Tax Allocation Bonds consist of: (l) $9,030,000 of Serial Bonds with annual interest rates ranging from 3.0% to 5.0%, maturing on August 1 of each year beginning in 2003 through 2020 in amounts ranging from $95,000 to $755,000; (2) $6,485,000 of 5.125% Term Bonds due August 1, 2027 and (3) $12,540,000 of 5.250% Term Bonds due August 1, 2036. The bonds are payable solely from and secured by a pledge of a portion of tax increment revenues. The future debt service requirements on these bonds are as follows: Year Ending June 30, Principal Interest Total 2010 $ 465,000 $ 1,310,116 $ 1,775,116 2011 485,000 1,291,116 1,776,116 2012 505,000 1,271,064 1,776,064 2013 525,000 1,248,899 1,773,899 2014 545,000 1,225,096 1,770,096 2015-2019 3,130,000 5,713,806 8,843,806 2019-2024 3,980,000 4,839,684 8,819,684 2024-2029 5,105,000 3,682,981 8,787,981 2029-2034 6,580,000 2,168,250 8,748,250 2034-2039 4,835,000 389,419 5,224,419 $ 26,155,000 $ 23,140,431 $ 49,295,431 2006 Tax Allocation Bonds Series A and Series B Payable: In December 2006, the Redevelopment Agency of the City of Temecula issued $18,105,000 2006 Tax Allocation Bonds Series A and $3,040,000 2006 Tax Allocation Bonds Series B. The proceeds of the bonds will be used to finance redevelopment activities within or of benefit to the Project Area, provide for the costs of issuing the 2006 Bonds, including the premium for a financial guaranty insurance policy for the Series A Bonds and the Series A Debt Service Reserve Surety Bond and establish a reserve account for the Series B Bonds. 47
City of Temecula Notes to Financial Statements (Continued) Note 6: Long-Term Liabilities (Continued) The 2006 Series A Bonds consist of: 1) $6,345,000 of Serial Bonds with annual interest rates ranging from 4.0% to 4.2%, maturing on August 1 of each year beginning in 2007 through 2025 in amounts ranging from $235,000 to $460,000; 2) $2,600,000 of 4.25% Term Bonds due August 1, 2030, 3) $3,945,000 of 4.5% Term Bonds due August 1, 2036, and 4) $5,215,000 of4.5% Term Bonds due August 1, 2038. The outstanding balance of the Series A Bonds as of June 30, 2009, is $17,545,000. The 2006 Series B Bonds consist of: 1) $885,000 of Serial Bonds with annual interest rates ranging from 3.95% to 4.85%, maturing on December 15 of each year beginning in 2010 through 2022 in amounts ranging from $50,000 to $90,000; 2) $390,000 of 5.0% Term Bonds due December 15, 2026, and 3) $1,765,000 of 5.0% Term Bonds due December 15, 2038. The outstanding balance of the Series B Bonds as of June 30, 2009, is $3,040,000. The bonds are payable solely from and secured by a pledge of a portion of tax increment revenues. The future debt service requirements on the 2006 Tax Allocation Bonds Series A are as follows: Year Ending June 30, Principal Interest Total 2010 $ 245,000 $ 751,936 $ 996,936 2011 250,000 742,036 992,036 2012 260,000 731,836 991,836 2013 275,000 721,136 996,136 2014 285,000 709,936 994,936 2015-2019 1,615,000 3,364,681 4,979,681 2019-2024 1,955,000 3,008,208 4,963,208 2024-2029 2,395,000 2,558,326 4,953,326 2029-2034 2,945,000 1,986,769 4,931,769 2034-2039 7,320,000 1,086,300 8,406,300 $ 17,545,000 $ 15,661,164 $ 33,206,164 The bonds are payable solely from and secured by a pledge of a portion of tax increment revenues. The future debt service requirements on the 2006 Tax Allocation Bonds Series B are as follows: Year Ending June 30, Principal Interest Total 2010 $ - $ 147,681 $ 147,681 2011 50,000 146,694 196,694 2012 55,000 144,606 199,606 2013 55,000 142,372 197,372 2014 60,000 139,963 199,963 2015-2019 335,000 657,601 992,601 2019-2024 420,000 569,440 989,440 2024-2029 525,000 453,125 978,125 2029-2034 680,000 303,000 983,000 2034-2039 860,000 111,750 971,750 $ 3,040,000 $ 2,816,232 $ 5,856,232 48
Page 1 and 2:
City of Te m e c u California Compr
Page 4 and 5:
CITY OF TEMECULA COMPREHENSIVE ANNU
Page 6:
STATISTICAL SECTION CITY OF TEMECUL
Page 9 and 10:
City of Temecula Letter of Transmit
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20: City of Temecula Letter of Transmit
Page 21 and 22: City of Temecula CITY ORGANIZATIONA
Page 24 and 25: Brandon W. Burrows, C.P.A Donald L.
Page 26 and 27: City of Temecula Management’s Dis
Page 38 and 39: CITYOF TEMECULA COMPREHENSIVE ANNUA
Page 40 and 41: CITY OF TEMECULA STATEMENT OF ACTIV
Page 42: CITY OF TEMECULA BALANCE SHEET GOVE
Page 45 and 46: CITY OF TEMECULA STATEMENT OF REVEN
Page 47 and 48: CITY OF TEMECULA RECONCILIATION OF
Page 49 and 50: CITY OF TEMECULA BUDGETARY COMPARIS
Page 51 and 52: CITY OF TEMECULA STATEMENT OF NET A
Page 53 and 54: CITY OF TEMECULA STATEMENT OF CASH
Page 56 and 57: CITY OF TEMECULA NOTES TO FINANCIAL
Page 58 and 59: City of Temecula Notes to Financial
Page 86: City of Temecula Notes to Financial
Page 89 and 90: CITY OF TEMECULA NON-MAJOR GOVERNME
Page 91 and 92: CITY OF TEMECULA COMBINING BALANCE
Page 99 and 100: CITY OF TEMECULA COMBINING STATEMEN
Page 121 and 122:
CITY OF TEMECULA COMBINING STATEMEN
Page 123 and 124:
CITY OF TEMECULA COMBINING STATEMEN
Page 125 and 126:
102
Page 127 and 128:
CITY OF TEMECULA COMBINING BALANCE
Page 129 and 130:
106
Page 131 and 132:
108
Page 133 and 134:
CITY OF TEMECULA NET ASSETS BY COMP
Page 135 and 136:
CITY OF TEMECULA FUND BALANCES OF G
Page 137 and 138:
CITY OF TEMECULA GOVERNMENT-WIDE RE
Page 139 and 140:
CITY OF TEMECULA GENERAL GOVERNMENT
Page 141 and 142:
118
Page 143 and 144:
CITY OF TEMECULA PRINCIPAL SECURED
Page 145 and 146:
CITY OF TEMECULA PROPERTY TAX LEVIE
Page 147 and 148:
124
Page 149 and 150:
CITY OF TEMECULA RATIO OF OUTSTANDI
Page 151 and 152:
CITY OF TEMECULA LEGAL DEBT MARGIN
Page 153 and 154:
CITY OF TEMECULA PLEDGED REVENUE CO
Page 155 and 156:
CITY OF TEMECULA LARGEST EMPLOYERS
Page 157 and 158:
CITY OF TEMECULA FULL-TIME CITY EMP
Page 159 and 160:
CITY OF TEMECULA COMPARATIVE CITY I
Page 161:
138
show all

California Comprehensive Annual Financial Report - City of Temecula

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?