E. Long-term Debt General Obligation Bonds


Unmatured general obligation bonds totaling $2,320,626, net of unamortized discount of $14,374, are outstanding as of June 30, 2013. These bonds bear interest with rates ranging from 2.30o/o to 3.70%; mature in varying annual amounts through June 30,2018; and were originally issued for $4,310,000. Annual debt service requirements to maturity for general obligation bonds are as follows:


Year Ending June 30,


2014 2015 2016 2017


2018 Total


$ Busine Principal $ 2,335,000


435,000 450,000 465,000 485,000 s00,000


Tax lncrement Financing Bonds


Unmatured tax increment financing bonds totaling $597,880 net of unamortized deferred amount on refunding of $22,880, are outstanding as of June 30, 2013. These bonds bear an interest rate of 3.00%; mature June 30, 2014; and were originally issued for 92,865,000. Annual debt service requirements to maturity for tax increment financing bonds are as follows:


Year E nding June 30


2014 Total


$ $


Governm ental Activities P rincip al


5 75,000 575,00 0


$ $


lnte rest


17,250 17,250


$ Activities lnterest $ 253,785


80,972 66,835 51,760 35,718 18,500


State Revolving Loan


ln July 2011, the City entered into a loan and disbursement agreement with the lowa Finance Authority for the issuance of $21 million in sewer revenue capital loan notes under the State Revolving Fund Program. These notes will finance the major renovation project at the City's water treatment facility related to disinfection compliance. As of June 30, 2013, only $2f 0,640 has been issued relating to the loan's administrative fees.


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