The future debt service requirements on the Highlands Undergrounding Assessment District No. 04-01, Limited Obligation Improvement Bonds, Series 2006 are as follows:
Year Ending
| June 30 | Principal | Interest | Total |
|---|---|---|---|
| 2026 | $ 58,000 | $ 46,099 | $ 104,099 |
| 2027 | 61,000 | 43,065 | 104,065 |
| 2028 | 64,000 | 39,861 | 103,861 |
| 2029 | 67,000 | 36,488 | 103,488 |
| 2030 | 70,000 | 32,959 | 102,959 |
| 2031-2035 | 410,000 | 105,055 | 515,055 |
| 2036-2037 | 195,000 | 10,171 | 205,171 |
| Totals | $ 925,000 | $ 313,698 | $ 1,238,698 |
On January 29, 2009, the City issued $2,015,000 Limited Obligation Improvement Bonds Series 2009A (Taxable). The proceeds of the Bonds were used to fund the City's Energy Independence Program. Concurrent with the issuance of the Bonds, the City entered into a bond purchase agreement with the Agency whereby the Agency agreed to purchase the Bonds equal to par value. The bonds bear interest at 3% payable semiannually on September 2 and March 2. Bond maturities commenced September 2, 2010, and continue annually through September 2, 2029.
The future debt service requirements on the Limited Obligation Improvement Bonds Series 2009A (Taxable) are as follows:
Year Ending
| June 30 | Principal | Interest | Total |
|---|---|---|---|
| 2026 | $ 7,000 | $ 1,140 | $ 8,140 |
| 2027 | $ 7,000 | $ 930 | $ 7,930 |
| 2028 | $ 8,000 | $ 720 | $ 8,720 |
| 2029 | $ 8,000 | $ 480 | $ 8,480 |
| 2030 | $ 8,000 | $ 240 | $ 8,240 |
| Totals | $ 38,000 | $ 3,510 | $ 41,510 |
On September 2, 2009, the City issued $1,136,000 Limited Obligation Improvement Bonds Series 2009B (Taxable). The proceeds of the Bonds were used to fund the City's Energy Independence Program. Concurrent with the issuance of the Bonds, the City entered into a bond purchase agreement with the Agency whereby the Agency agreed to purchase the Bonds equal to par value. The bonds bear interest at 3% payable semiannually on September 2 and March 2. Bond maturities commenced September 2, 2010, and continue annually through September 2, 2029.