Item 3C: Adoption of Resolution Acknowledging Receipt of the FY10 CAFR

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CITY OF EUGENE, OREGON Notes to Basic Financial Statements (4) Detailed Notes on All Funds, continued (J) Noncurrent Liabilities, continued Certificates of Participation, continued OriginalEnding Governmental activitiesissuanceInterest rates (%)balance Certificates of participation serviced by general property taxes: Santa Clara Fire Station, Series 20032,090,0002.000% to 4.000%855,000 Certificates of participation serviced by specific fund revenues: Atrium Obligations, Series 1998A (tax-exempt)1,200,0003.700% to 4.900%630,000 Atrium Obligations, Series 1998B (taxable)1,200,0006.125% to 6.200%675,000 Total certificates of participation$4,490,0002,160,000 Annual debt service requirements to maturity for certificates of participation are as follows: Governmental activities Fiscal year ending June 30PrincipalInterest 2011$340,000103,463 2012355,00089,230 2013360,00073,823 2014370,00057,855 2015165,00040,770 2016-2018570,00064,595 $2,160,000429,736 Limited Tax Bonds The City issues limited tax bonds in governmental and business-type activities. Limited tax bonds in governmental activities include limited tax improvement bonds and limited tax pension bonds. Limited tax improvement bonds finance public improvements that benefit private parties. Improvement bonds are secured by the benefited properties and are to be repaid in installments from property owners. Limited tax pension bonds finance a portion of the estimated unfunded actuarial liability with the Oregon Public Employees Retirement System. The pension bonds are to be repaid from existing revenue sources. Limited tax bonds in business-type activities financed the Broadway Garages construction project and are serviced from available parking revenues. All limited tax bonds are backed by the full faith and credit of the City, within the limitations of Article XI of the Oregon Constitution. continued