LARIMER COUNTY, COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 2000
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 |
2000 |
|
|
$415,880; Spring Glade property; annual interest rate 5%; with final payment in 2001 |
$ 145,443 |
|
|
$217,000; Hughey property; annual interest rate 5%; with final payment in 2002 |
109,274 |
|
|
$425,250; Devil's Backbone property; annual interest rate 6%; with final payment in 2003 |
269,880 |
|
|
Total |
$ 524,597 |
|
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 |
|
2001 |
$ 283,519 |
$ 28,929 |
$ 312,448 |
|
2002 |
145,828 |
13,905 |
159,733 |
|
2003 |
95,250 |
5,715 |
100,965 |
|
Total |
$ 524,597 |
$ 48,549 |
$ 573,146 |
Back to 2000 Financial Report