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CITY OF EUGENE, OREGON <br />Notes to Basic Financial Statements <br />(4) Detailed Notes on All Funds, continued <br /> (I) Noncurrent Liabilities, continued <br /> Certificates of Participation, continued <br />OriginalEnding <br />issuanceInterest rates (%)balance <br />Governmental activities <br />Certificates of participation serviced <br />by general property taxes: <br />Santa Clara Fire Station, Series 2003$2,090,0002.000% to 4.000%645,000 <br />Certificates of participation serviced <br />by specific fund revenues: <br />Atrium Obligations, Series 1998A (tax-exempt)1,200,0003.700% to 4.900%565,000 <br />Atrium Obligations, Series 1998B (taxable)1,200,0006.125% to 6.200%610,000 <br />Total certificates of participation$4,490,0001,820,000 <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 />2012$355,00089,230 <br />2013360,00073,823 <br />2014370,00057,855 <br />2015165,00040,770 <br />2016180,00031,700 <br />2017-2018390,00032,895 <br />$1,820,000326,273 <br />Limited Tax Bonds <br />The City issues limited tax bonds in governmental and business-type activities. Limited tax bonds in <br />governmental activities include limited tax improvement bonds and limited tax pension bonds. Limited tax <br />improvement bonds finance public improvements that benefit private parties. Improvement bonds are secured <br />by the benefited properties and are to be repaid in installments from property owners. Limited tax pension <br />bonds finance a portion of the estimated unfunded actuarial liability with the Oregon Public Employees <br />Retirement System. The pension bonds are to be repaid from existing revenue sources. All limited tax bonds <br />are backed by the full faith and credit of the City, within the limitations of Article XI of the Oregon Constitution. <br />continued <br />62 <br />