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05-26-2020-R
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05-26-2020-R
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<br />-36- <br />NOTE 4 – LONG-TERM LIABILITIES (CONTINUED) <br /> <br />D. Minimum Debt Payments <br /> <br />Minimum annual payments required to retire bonds are as follows: <br /> <br />Year Ending <br />December 31,Principal Interest <br />2020 200,000$ 87,000$ <br />2021 210,000 78,800 <br />2022 220,000 70,200 <br />2023 225,000 61,300 <br />2024 235,000 52,100 <br />2025–2029 1,325,000 114,050 <br />2,415,000$ 463,450$ <br />Business-Type Activities <br />Utility Revenue Bonds <br /> <br />E. Revenue Pledged <br /> <br />Future revenue pledged for the payment of long-term debt is as follows: <br /> <br />Percent of Remaining Principal Pledged <br />Use of Total Term of Principal and Interest Revenue <br />Debt Issue Proceeds Type Debt Service Pledge and Interest Paid Received <br />Utility Revenue Bonds of 2018A Utility improvements Utility charges 100%2018–2029 2,878,450$ 94,288$ 4,446,842$ <br />Revenue Pledged Current Year <br />
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