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6. Bonds Payable<br />
Bonds payable consisted of the following at June 30:<br />
2008 Series A General Obligation Bonds (original principal of $7,732,622) Serial<br />
bonds maturing through 2027 with annual principal payments<br />
2018 2017<br />
from $309,305 to $463,960 and interest rates from 3.375% to 4.00%. $ - $ 463,957<br />
2008 Series C General Obligation Bonds (original principal of $2,141,678)<br />
Serial bonds maturing through 2028 with annual principal payments<br />
from $0 to $128,504 and interest rates from 4.00% to 5.00%. - 128,504<br />
2009 Series A General Obligation Bonds (original principal of $5,000,000)<br />
Serial bonds maturing through 2029 with annual principal payments<br />
from $200,000 to $300,000 and interest rates from 4.00% to 5.50%. 2,600,000 2,900,000<br />
2010 Series A General Obligation Bonds (original principal of $1,996,995)<br />
Serial bonds maturing through 2025 with annual principal payments<br />
from $0 to $666,111 and coupon interest rates from 2.00% to 5.00%. 1,730,748 1,790,892<br />
2010 Series B General Obligation Bonds (original principal of $1,055,090)<br />
Serial bonds maturing through 2020 with annual principal payments<br />
from $115,501 to $150,526 and interest rates from 3.00% to 4.00%. 295,312 434,476<br />
2012 Series B General Obligation Bonds (original principal of $6,000,000)<br />
Serial bonds maturing through 2032 with annual principal payments<br />
from $160,000 to $240,000 and interest rates from 2.64% to 4.15%. A<br />
portion of these bonds were refunded as part of the issuance of the<br />
2017 Series A General Obligation bonds.* 2,553,722 4,320,000<br />
2013 Series B General Obligation Bonds (original principal of $2,000,000)<br />
Serial bonds maturing through 2033 with annual principal payments<br />
from $79,763 to $133,446 and interest rates from 4.00% to 4.68%. A<br />
portion of these bonds were refunded as part of the issuance of the<br />
2017 Series A General Obligation bonds. 1,306,012 1,439,458<br />
2014 Series A General Obligation Refunding Bonds (original principal of<br />
$2,762,813) maturing through 2028 with annual principal payments beginning in<br />
2018 ranging from $34,564 to $102,325 and interest<br />
rates from 1.50% to 5.00%. 2,652,823 2,762,813<br />
2016 Series A General Obligation Refunding Bonds (original principal of<br />
$921,602) maturing through 2028 with annual principal payments beginning in<br />
2018 ranging from $36,734 to $192,626 and interest<br />
236 | P a g e
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