|
City of Eugene's Capital Assets, Net of Accumulated Depreciation
<br />Governmental ActivitiesBusiness-type ActivitiesTotal
<br />200720062007200620072006
<br />Land$55,116,10552,826,59114,249,57314,195,48069,365,67867,022,071
<br />Construction in progress14,583,68217,672,1417,131,1679,387,71221,714,84927,059,853
<br />Buildings and equipment146,040,698145,482,65937,994,17035,110,852184,034,868180,593,511
<br />Improvements other than buildings31,016,27125,772,12944,928,05242,824,23875,944,32368,596,367
<br />Storm sewers and trunk sewers00126,411,436122,407,965126,411,436122,407,965
<br />Infrastructure121,403,727110,506,84300121,403,727110,506,843
<br />$368,160,483352,260,363230,714,398223,926,247598,874,881576,186,610
<br />Major capital asset additions during the current fiscal year included the following:
<br /> Road and other infrastructure-type public improvements
<br /> Various municipal airport construction projects
<br />Additional information on the City’s capital assets can be found in the note 4(E) to the basic financial statements.
<br />Bonded Debt.
<br /> At the end of the current fiscal year, the City had total liabilities of $161.2 million. Of this amount,
<br />$119.3 million represented outstanding bonded indebtedness. Outstanding bonded debt included $37.8 million in
<br />general obligation bonds to be serviced by general property taxes, $1.5 million in certificates of participation to be
<br />serviced by general property taxes, $6.6 million in certificates of participation to be serviced by tax increment revenues,
<br />$0.9 million in limited tax improvement bonds to be serviced by property owners subject to the improvements, and $64.0
<br />million in limited tax pension bonds to be repaid from existing revenue sources, all backed by the full faith and credit of
<br />the City. The remainder of the City’s bonded debt includes $0.4 million in general obligation bonds, $5.8 million in
<br />limited tax bonds, $0.6 million in revenue bonds, and $1.7 million in certificates of participation, all serviced by specific
<br />fund revenues.
<br />City of Eugene's Bonded Debt
<br />Governmental ActivitiesBusiness-type ActivitiesTotal
<br />200720062007200620072006
<br />General obligation bonds$37,820,00040,385,000415,000810,00038,235,00041,195,000
<br />Certificates of participation 9,785,00012,075,000009,785,00012,075,000
<br />Limited tax bonds 64,869,25472,251,9895,790,0006,040,00070,659,25478,291,989
<br />Revenue bonds00590,0001,145,000590,0001,145,000
<br />Deferred amounts42,34365,223(19,018)(22,198)23,32543,025
<br /> $112,516,597124,777,2126,775,9827,972,802119,292,579132,750,014
<br />The City’s total bonded debt decreased by $13.5 million (10.1%) during the current fiscal year, due to $6.8 million in
<br />scheduled debt payments and a $7.7 million early call on limited tax pension bonds, less $1.0 million in accretion of
<br />deep discounts on limited tax pension bonds.
<br />Moody’s Investors Service rates most of the City’s bond issues. The City’s most recent ratings from Moody’s are as
<br />follows:
<br /> Aa2 for general obligation bonds (February 2006).
<br /> Baa1 for municipal airport revenue refunding bonds (October 2006).
<br /> Aa3 for full faith and credit obligations, which includes the Library Obligations, the Atrium Obligations, the Santa
<br />Clara Fire Station Obligations, and the Broadway Garages Limited Tax Bonds (October 2003).
<br /> A3 underlying and Aaa insured for the pension obligations: The pension obligations were issued as one offering for
<br />certain Oregon cities, counties, and special districts. The City of Eugene’s share of the total pension obligations on
<br />which the rating was based is 29.7%.
<br />ïç
<br />
|