TOWNSHIP OF JACKSON
NOTES TO FINANCIAL STATEMENTS (continued):
FOR THE YEAR ENDED DECEMBER 31, 2014
| 3 1/2% of Equalized Valuation Bases (Municipal) | $ 229,769,787 |
|---|
| Net Debt | 21,327,347 |
|---|
| Remaining Borrowing Power | $ 208,442,440 |
|---|
During the year ended December 31, 2014, the following changes occurred in issued Bonds, Loans and Notes:
| Balance
December 31, 2013 | Issued | Retired | Balance
December 31, 2014 | Due
Within
One Year |
|---|
| General Capital Fund: | | | | | |
|---|
| Serial Bonds | $ 22,492,000 | $ 5,485,000 | $ 3,501,000 | $ 24,476,000 | $ 3,600,000 |
|---|
| BAN's | 5,485,337 | 1,891,241 | 5,485,337 | 1,891,241 | 1,891,241 |
|---|
| Current Fund: | | | | | |
|---|
| SEN's | 1,524,000 | - | 621,287 | 902,713 | 381,000 |
|---|
| Total | $ 29,501,337 | $ 7,376,241 | $ 9,607,624 | $ 27,269,954 | $ 5,872,241 |
|---|
As of December 31, 2014, the Township’s Long-Term Debt is as follows:
$5,918,000 2003 Open Space Bonds due in annual installments of $400,000 to $500,000 through 2020 at interest rates ranging from 3.00% to 4.00%. $16,102,000 2008 Bonds due in annual installments ranging from $100,000 to $2,132,000 through 2020 at interest rates ranging from 3.50% to 4.125%. $3,739,000 2008 Open Space Bonds due in annual installments of $75,000 to $334,000 through 2028 at interest rates ranging from 3.50% to 4.75%. $8,010,000 2009 Refunding Bonds due in annual installments ranging from $760,000 to $1,905,000 through 2016 at interest rates ranging from 2.00% to 4.00%. $5,485,000 2014 General Obligation Bonds due in annual installments ranging from $300,000 to $600,000 through 2025 at interest rates ranging from 2.00% to 3.00%. $1,975,000 2022 At interest rates ranging from $1,975,000 to $1,975,000.
2023
Total
$24,476,000
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