LARIMER COUNTY, COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 2000
NOTE 11 - REVENUE BONDS:
The Revenue Bonds represent debt in Open Lands (a special revenue fund) and are not general obligations of the County. On July 1, 2000, the County issued revenue bonds secured and payable by a .25% Open Space sales and use tax. The bonds were issued to acquire, protect, improve, and maintain open space, natural areas, wildlife habitat, parks, and trails. $15,065,000, Series 2000, revenue bonds due in varying installments through December 15, 2018; interest ranges from 5% to 5.75% payable each June 15 and December 15.
A summary of annual requirements to repay these bonds is as follows:
|
Year |
Principal |
Interest |
Total |
|
2001 |
$ 460,000 |
$ 765,981 |
$ 1,225,981 |
|
2002 |
500,000 |
741,831 |
1,241,831 |
|
2003 |
540,000 |
716,831 |
1,256,831 |
|
2004 |
585,000 |
689,831 |
1,274,831 |
|
2005 |
615,000 |
660,581 |
1,275,581 |
|
2006 - 2010 |
3,555,000 |
2,810,656 |
6,365,656 |
|
2011 - 2015 |
4,585,000 |
1,776,569 |
6,361,569 |
|
2016 - 2018 |
3,425,000 |
392,345 |
3,817,345 |
|
Total |
$ 14,265,000 |
$ 8,554,625 |
$ 22,819,625 |
A reserve fund of $1,275,000 is required and is included in the Open Lands fund.
Back to 2000 Financial Report