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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 /> General Obligation Bonds, continued
<br />OriginalEnding
<br />Governmental activitiesissuanceInterest rates (%)balance
<br />General obligation bonds serviced by
<br />general property taxes:
<br />Fire Projects Bonds, Series 2002$8,680,0003.000% to 4.650%5,805,000
<br />Parks and Open Spaces Bonds, Series 20046,305,0002.500% to 4.650%4,295,000
<br />General Obligation Refunding Bonds, Series 200624,990,0003.500% to 4.125%19,425,000
<br />Parks and Open Spaces Bonds, Series 20085,600,0005.100%5,180,000
<br />Total general obligation bonds$45,575,00034,705,000
<br />In prior years, the City defeased certain general obligation bonds by placing the proceeds of new bonds in an
<br />irrevocable trust to provide for all future debt service payments on the old bonds. Accordingly, the trust account
<br />assets and the liability for the defeased bonds are not included in the City’s financial statements. At June 30,
<br />2010, $19.3 million of bonds outstanding are considered defeased.
<br />Annual debt service requirements to maturity for general obligation bonds are as follows:
<br />Governmental activities
<br />Fiscal year
<br />PrincipalInterest
<br />ending June 30
<br />2011$3,435,0001,458,808
<br />20123,560,0001,315,527
<br />20133,705,0001,169,051
<br />20143,855,0001,015,856
<br />20154,015,000855,660
<br />2016-202013,940,0001,965,279
<br />2021-20232,195,000175,285
<br />$34,705,0007,955,466
<br />Certificates of Participation
<br />The City issues certificates of participation (COPs) to finance major construction projects in governmental
<br />activities. The Atrium Obligations are backed by the full faith and credit of the City, and debt payments are to
<br />be paid from rental payments made by property occupants, including City departments. The Santa Clara Fire
<br />Obligations are backed by the full faith and credit of the City and the debt payments are made by the General
<br />Fund.
<br />continued
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