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<br />~ <br />~HILLS <br /> <br />2008 PROPOSED BUDGET - SUMMARY BY DEPT. <br /> <br />Fund: G.O. Tax Increment Bonds of 1998A - 325 <br />Department Name: Debt Service-G.O. TI Bonds 1998A - 47010 <br /> <br />2007 Budeet: $281,175 <br /> <br />2008 Proposed Budeet: $280,150 <br /> <br />Departmental Dverview/Summarv: <br />Issuance of $:], 100;000 General Obligation Tax Increment Bonds dated March 1, 1998 <br />were to nnance various public improvements within TIF District No.2. The <br />improvements were generally the relocated 14th Street project-and the Round Lake Road <br />intersection itnprQvements project. The bond issue was rated"A+ by Standard and Poor's <br />Corporation. The seventeen year bonds mature on February 1, 2015. The City <br />completed the refunding process in February, 2005. This will significantly reduce the <br />interest cost Dver the life. <br /> <br />Financial Overview - 2008 <br /> <br />2008 <br />GO Tax Increment Bonds of 1998A <br /> <br />Personai <br />Services. $0, <br />0% <br /> <br />Other <br />Services & <br />Charges, $0. <br />0% <br /> <br />Materials & <br />Supplies, $0, <br />0% <br /> <br /> <br />Debt Service, <br />$280,150, <br />100% <br /> <br />Sil!nificant Chanl!es from Prior Year: <br />None_ <br /> <br />102 <br />