Debt Service General Obligation Bonds The full faith, credit, and taxing power of the City are pledged for the payment of General Obligation Bonds. General Obligation Bonds have interest payable semi-annually on the first of October and April, as well as a principal lump sum payable on the first of April. Highlights of outstanding General Obligation Bonds include: Series 2008, outstanding principal in the amount of $2,015,000 for construction of a new fire station. Series 2011, outstanding principal in the amount of $10,120,000, was issued to fund the General Obligation debt portion for the construction of the City’s Operations Center. Series 2013A, outstanding principal in the amount of $1,720,000 was used for the expansion of the City’s Law Center. Series 2013B was a refinancing of two older General Obligation Bonds: 1997 and 2003. The 1997 Series, was issued to complete the first phase of the Fire Master Plan, including construction of a new fire station and various improvements to the three existing fire stations; The 2003 Series, was used for the construction of two new fire stations.
General Obligation Principal Debt Service Requirements
Principal Debt Service Requirements
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
35/36
34/35
33/34
32/33
31/32
30/31
29/30
28/29
27/28
26/27
25/26
24/25
23/24
22/23
21/22
20/21
19/20
18/19
17/18
16/17
15/16
14/15
$0
Fiscal Year
148
City of Rock Hill, South Carolina—Fiscal Year 2015/2016