Debt


Atyear-end,theCityhad$11,610,000ínoutstandingbondscomparedto$14,910,000¡astyear. Thatisadecreaseof $3,300,000 or 22.13%.


Gity of Cedar Falls Outstanding Debt General Obligation Debt


Govem rnental activities 2013


General obligation bonds


Tax increment financing Capital loan notes


Total $


575,000 8,075,000


$


1,125,000 10,210,000


$ 8,650,000 $ 11,335,000 $ 2,335,000 $ 2,755,000 $ 2,æ5,000 $ 2,755,000 625,000 920,000 $ 2,960,000 $ 3,575,000


575,000 8,700,000


1,125,000 11,030,000


$ 11,610,000 $ 14,910,000


The City of Cedar Falls was upgraded to a Aa1 rating from Moody's lnvestor Services for all general obligation issuances. This was a result of Moody's recalibrating their U.S. municipal rating scale.


State statutes limit the amount of general obligation debt a government entity may issue to 5% of its total assessed valuation. As of June 30, 2013, the City's legal debt margin was $1 19,762,511 .


More detailed information about the City's long-term debt is presented in Note 3 to the financial statements.


Gity of Cedar Falls Outstanding Debt FY13


2012


Business-type activities 2012


2013 Total 2013 2012


CapitalLoan Notes 75o/o


GO Bonds 20To


TIF Bonds 5%


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