LARIMER COUNTY, COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 1999
NOTE 10 - NOTES PAYABLE:
The County's notes payable serviced by Open Lands (a special revenue fund) and collateralized by land is comprised of the following:
|
December 31 |
1999 |
|
|
$1,050,000; Ute property; annual interest rate 7.5%; with final payment in 2000 |
$ 258,334 |
|
|
$415,880; Spring Glade property; annual interest rate 5%; with final payment in 2001 |
283,959 |
|
|
$217,000; Hughey property; annual interest rate 5%; with final payment in 2002 |
160,040 |
|
|
$950,000; Blue Mountain property; annual interest rate 6.1% with final payment in 2002 |
950,000 |
|
|
$425,250; Devil's Backbone property; annual interest rate 6%; with final payment in 2003 |
349,800 |
|
|
Total |
$ 2,002,133 |
|
A summary of annual requirements to amortize the notes payable in the General Long-Term Obligations Account Group is as follows:
|
Year |
Principal |
Interest |
Total |
|
2000 |
$ 677,536 |
$ 75,776 |
$ 753,312 |
|
2001 |
733,519 |
65,778 |
799,297 |
|
2002 |
495,828 |
46,396 |
542,224 |
|
2003 |
95,250 |
5,715 |
100,965 |
|
Total |
$ 2,002,133 |
$ 193,665 |
$ 2,195,798 |
Back to 1999 Financial Report