CITY OF SUFFOLK, VIRGINIA NOTES TO FINANCIAL STATEMENTS June 30, 2016
Note 9.
Long-Term Liabilities (Continued) Amortization requirements for governmental activities: The annual requirements to amortize long-term debt and related interest as follows: Governmental Activities Year Ending June 30, 2017 2018 2019 2020 2021 2022-2026 2027-2031 2032-2036
General Obligations Bonds Principal Interest
Section 108 Loan Payable Principal Interest
16,693,132 18,563,915 16,931,146 16,903,161 16,867,316 72,291,666 57,355,000 23,660,000
10,336,499 9,534,220 8,776,677 8,096,106 7,475,360 26,764,634 11,880,475 1,808,938
193,000 193,000 193,000 193,000 193,000 965,000 178,000 -
$ 239,265,335
$ 84,672,909
$ 2,108,000
$
Capital Lease Obligations Principal Interest
111,567 101,521 91,215 80,764 70,187 188,663 5,135 -
3,020,009 2,619,219 1,486,016 591,082 193,972 760,816 512,093 -
649,052
$ 9,183,208
83,217 47,347 19,101 3,238 $
152,903
Business-type Activities Year Ending June 30, 2017 2018 2019 2020 2021 2022-2026 2027-2031 2032-2036 2037-2041 2042-2046
General Obligations Bonds Principal Interest
Taxable GO BAN Principal Interest
2,146,272 4,901,085 5,721,854 5,986,839 8,425,684 48,233,334 49,670,000 56,720,000 47,780,000 5,075,000
10,521,644 10,440,998 10,214,654 9,994,354 9,752,127 42,726,660 31,212,076 20,313,617 7,574,728 229,325
4,541,000 -
$ 234,660,069
$ 152,980,181
$ 4,541,000
$
Revenue Bonds Principal Interest
Capital Lease Obligations Principal Interest
92,747 82,646 41,323 -
575,000 1,150,000 1,200,000 1,260,000 3,855,000 22,065,000 28,325,000 24,290,000 18,320,000 7,660,000
4,752,702 4,723,443 4,667,243 4,610,476 4,512,543 19,733,613 13,984,079 8,486,922 3,404,090 955,300
353,223 304,452 196,069 137,817 79,067 65,752 30,279 -
216,716
$ 108,700,000
$ 69,830,410
$ 1,166,659
$
The Governmental Activities’ capital lease obligations are collateralized by equipment with a book value of $9,112,628, which is net of accumulated depreciation of $3,063,961 at June 30, 2016. The Business-type Activities’ capital Lease obligations are collateralized by equipment with a book value of $1,218,370, which is net of accumulated depreciation of $2,477,908 at June 30, 2016.
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