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Budgets, Levies, & Debt

Bond Disclosure - 2007

Attached is the complete report of the 2007 Bond Issue.  The original request was for $85.8 million dollars.  Through what is called a "premium bond," the District received $112.1 million dollars.  By offering a higher than normal coupon rate (5% & 9%) the District was able to receive the incremental revenue.  The revenue breakout is explained on page 11.

What is the benefit of a premium bond?  The premium revenue received is not included in the maximum debt allowed. The District's maximum debt is 13.8% of the Operating Revenue.  Operating Revenue is defined as all revenue except for revenue for debt repayment.

Attachments:
Download this file (2007 Bond Issue.pdf)2007 Bond Issue

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Parent Category: ROOT