Outstanding Bond Debt

As of June 30, 2019, the the annual cash flow requirements of all bonded debt to retirement were as follows:

Fiscal Year Ending June 30, Principal Interest Total
2020 $7,155,000 $1,759,035 $8,914,035
2021 7,500,000 1,355,960 8,855,960
2022 7,855,000 987,110 8,842,110
2023 8,230,000 685,303 8,915,303
2024 8,455,000 465,432 8,920,432
2025 8,675,000 244,259 8,919,259
2026 5,095,000 64,961 5,159,961
Total $52,965,000 $5,562,060 $58,527,060

The following general obligation school building and refunding bonds are currently payable:

  • General Obligation School Building Bonds dated June 15, 2010 were issued in the amount of $2,870,000. Principal payments are due January 1. Interest payments at rates from 2.4% to 3.1% are due on January 1 and July 1, through the fiscal year ending June 30, 2019.
  • General Obligation Refunding Bonds dated July 23, 2012 were issued in the amount of $10,000,000. Principal payments are due January 1. Interest payments at rates from 2.00% to 3.00% are due on July 1 and January 1, through the fiscal year ending June 30, 2025.
  • General Obligation Refunding Bonds dated February 20, 2013 were issued in the amount of $9,995,000. Principal payments are due January 1. Interest payments at rates from 2.00% to 2.25% are due on July 1 and January 1, through the fiscal year ending June 30, 2024.
  • General Obligation Refunding Bonds dated March 3, 2014 were issued in the amount of $26,470,000. Principal payments are due January 1. Interest payments at rates from 3.00% to 5.00% are due on July 1 and January 1, through the fiscal year ending June 30, 2023.
  • General Obligation Refunding Bonds dated March 17, 2015 were issued in the amount of $9,965,000. Principal payments are due January 1. Interest payments at rates from 2.00% to 2.55% are due on July 1 and January 1, through the fiscal year ending June 30, 2026.
  • General Obligation Refunding Bonds dated March 1, 2016 were issued in the amount of $16,165,000. Principal payments are due January 1. Interest payments at rates from 2.00% to 4.00% are due on July 1 and January 1, through the fiscal year ending June 30, 2025.

As of June 30, 2019, the outstanding debt considered defeased is $39,000,000.  A full accounting of the District’s long-term debt is provided in the Comprehensive Annual Financial Report (CAFR).