Comprehensive Annual Financial Report - Cobb County

COBB COUNTY, GEORGIA
NOTES TO FINANCIAL STATEMENTS
September 30, 2007
Note 8. Long-Term Debt (Continued)
Business-type Activities:
Revenue Bonds:
2004 Water & Sewer Refunding $ 13,405,000 $ - $ (6,480,000) $ 6,925,000 $ 6,925,000
2003 Water & Sewer Serial Bond 100,000,000 - - 100,000,000 -
2003 Water & Sewer Refunding 18,875,000 - (9,470,000) 9,405,000 9,405,000
2004 Solid Waste Management
Authority Refunding 17,565,000 - (1,800,000) 15,765,000 1,855,000
1997 Refunding Recreation Authority 3,880,000 - (410,000) 3,470,000 430,000
Total Bonds before discounts and premiums $ 153,725,000 $ - $ (18,160,000) $ 135,565,000 $ 18,615,000
Add: Bond premiums 5,626,531 - (1,466,030) 4,160,501 -
Less:
Original issuance discount $ (13,443) $ - $ 1,697 $ (11,746) $ -
Deferred amount on refunding (1,995,556) - 838,256 (1,157,300) -
Total bonds payable $ 157,342,532 $ - $ (18,786,076) $ 138,556,456 $ 18,615,000
Capital leases $ 144,381 $ - $ (35,612) $ 108,769 $ 37,026
Closure and postclosure 27,085,218 - (25,982) 27,059,236 129,000
Note payable 27,978 - (27,978) - -
Compensated absences 1,446,653 1,550,537 (1,446,653) 1,550,537 1,062,298
Total other liabilities $ 28,704,230 $ 1,550,537 $ (1,536,225) $ 28,718,542 $ 1,228,324
Business-type Activities Long-term Liabilities $ 186,046,762 $ 1,550,537 $ (20,322,301) $ 167,274,998 $ 19,843,324
Component Units
Cobb-Marietta Coliseum and Exhibit Hall Authority
Amounts
Beginning Ending Due Within
Governmental Activities: Balance Additions Reductions Balance One Year
Bonds payable:
Revenue Bonds: $ 82,830,000 $ - $ (2,240,000) $ 80,590,000 $ 2,360,000
Add: Uamortized issuance premium 1,919,710 - (127,900) 1,791,810 -
Less deferred amounts:
On refunding (4,078,663) - 312,838 (3,765,825) -
For issuance discount (352,947) - 29,542 (323,405) -
Total bonds payable 80,318,100 - (2,025,520) 78,292,580 2,360,000
Line of credit - 8,400,000 - 8,400,000 -
Compensated absences 135,540 182,432 (165,035) 152,937 152,937
Governmental Activities Long-term Liabilities $ 80,453,640 $ 8,582,432 $ (2,190,555) $ 86,845,517 $ 2,512,937
Business-type Activities:
Bonds payable:
Revenue bonds $ 55,255,000 $ 10,000,000 $ (975,000) $ 64,280,000 $ 1,045,000
Add: Unamortized issuance premium 1,274,570 - (88,376) 1,186,194 -
Total bonds payable 56,529,570 10,000,000 (1,063,376) 65,466,194 1,045,000
Compensated absences - 31,591 (7,141) 24,450 24,450
Unearned revenue 5,200,000 9,316,806 (204,039) 14,312,767 1,106,139
Business-type Activities Long-term Liabilities $ 61,729,570 $ 19,348,397 $ (1,274,556) $ 79,803,411 $ 2,175,589
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