The future debt service requirements on the 2003 Series Tax Allocation Revenue Bonds (Project Area No. 2) are as follows:
| Year Ending June 30, | Principal | Interest | Total |
|---|---|---|---|
| 2026 | $ 1,145,000 | $ 662,203 | $ 1,807,203 |
| 2027 | 1,340,000 | 604,738 | 1,944,738 |
| 2028 | 1,405,000 | 538,625 | 1,943,625 |
| 2029 | 1,475,000 | 466,625 | 1,941,625 |
| 2030 | 1,550,000 | 391,000 | 1,941,000 |
| 2031-2033 | 7,045,000 | 726,625 | 7,771,625 |
| Total | $ 13,960,000 | $ 3,389,816 | $ 17,349,816 |
On January 31, 2017, the Successor Agency issued the 2017A Bonds, in the principal amount of $52,390,000. The proceeds from the 2017A Bonds were utilized to refund the Project Area No. 1 2002A Bonds, Project Area No. 1 2003 Bond, Project Area No. 1 2004 Bonds, the Project Area No. 2 2002A Bonds, and the Project Area No. 4 1998 Bonds and pay certain costs associated with the issuance of the bonds.
Interest rates on the bonds vary from 2.00% to 5.00% per annum payable semi-annually on April 1 and October 1, commencing April 1, 2017, with principal maturing annually on October 1. As of June 30, 2024, the outstanding principal balance on the bonds $29,060,000.
The future debt service requirements on the 2017A Bonds are as follows:
| Year Ending June 30, | Principal | Interest | Total |
|---|---|---|---|
| 2026 | $ 6,910,000 | $ 1,280,250 | $ 8,190,250 |
| 2027 | 5,245,000 | 976,375 | 6,221,375 |
| 2028 | 5,495,000 | 707,875 | 6,202,875 |
| 2029 | 4,055,000 | 469,125 | 4,524,125 |
| 2030 | 3,590,000 | 278,000 | 3,868,000 |
| 2031 | 3,765,000 | 94,125 | 3,859,125 |
| Total | $ 29,060,000 | $ 3,805,750 | $ 32,865,750 |
On January 31, 2017, the Successor Agency issued the 2017B Bonds, in the principal amount of $140,130,000. The proceeds from the 2017B Bonds were utilized refund the Project Area No. 1 2006A Bonds, the Project Area No. 2 2006A Bonds, the Project Area No. 2 2006D Bonds, the Project Area No. 3 2003 Bonds, the Project Area No. 3 2006A Bonds, the Project Area No. 3 2006B Bonds, the Project Area No. 3 2006C Bonds, the Project Area No. 4 2001 Bonds, the Project Area No. 4 2006A Bonds, and the Project Area No. 4 2006B Bonds and pay certain costs associated with the issuance of the bonds.
Interest rates on the bonds vary from 1.25% to 4.25% per annum payable semi-annually on April 1 and October 1, commencing April 1, 2017, with principal maturing annually on October 1. As of June 30, 2025, the outstanding principal balance on the bonds is $79,085,000.