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CITY OF EUGENE, OREGON
<br />Notes to Basic Financial Statements
<br />(4) Detailed Notes on All Funds, continued
<br /> (J) Noncurrent Liabilities, continued
<br />Certificates of Participation
<br />The City issues certificates of participation (COPs) to finance major construction projects in governmental
<br />activities. The Library Obligations are backed by the full faith and credit of the City, although the debt
<br />payments are serviced from Urban Renewal Agency tax increment revenues under an intergovernmental
<br />agreement. Pursuant to the intergovernmental agreement between the City and the Urban Renewal Agency,
<br />the tax increment revenues provided by the Urban Renewal Agency are recorded as a transfer into the Library
<br />Debt Service Fund. The Atrium Obligations are also backed by the full faith and credit of the City, although the
<br />debt payments are to be paid from rental payments made by property occupants, including City departments.
<br />The Santa Clara Fire Obligations are also backed by the full faith and credit of the City and the debt payments
<br />are made by the General Fund.
<br />OriginalEnding
<br />Governmental activitiesissuanceInterest rates (%)balance
<br />Certificates of participation serviced
<br />by tax increment revenues:
<br />Library Obligations, Series 2000$18,500,0005.000%6,650,000
<br />Certificates of participation serviced
<br />by general property taxes:
<br />Santa Clara Fire Station, Series 20032,090,0002.000% to 4.000%1,485,000
<br />Certificates of participation serviced
<br />by specific fund revenues:
<br />Atrium Obligations, Series 1998A (tax-exempt)1,200,0004.300% to 4.900%805,000
<br />Atrium Obligations, Series 1998B (taxable)1,200,0006.125% to 6.200%845,000
<br />Total certificates of participation$22,990,0009,785,000
<br /> Annual debt service requirements to maturity for certificates of participation are as follows:
<br />Governmental activities
<br />Fiscal year
<br />ending June 30PrincipalInterest
<br />2008$2,420,000419,375
<br />20092,525,000300,823
<br />20102,680,000175,247
<br />2011340,000103,463
<br />2012355,00089,230
<br />2013-20171,265,000225,878
<br />2018200,00011,165
<br />$9,785,0001,325,181
<br />continued
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