RES 88015 - Laserfiche WebLink

Debt Service SchedUle Set forth below is the debt service schedule for the Bonds: Maturity September 2 Principal Interest Debt Service 1988 $-- $ (1) $ -- 1989 145,000 1990 155,000 1991 165,000 1992 175,000 1993 185,000 1994 200 000 1995 215 000 1996 230 000 1997 245 000 1998 265 000 1999 285 000 2000 310 000 2001 335 000 2002 365,000 2003 395,000 2004 425,000 2005 465,000 2006 505,000 2007 545,000 2008 590,000 Totals $6,200,000' $ -- $ -. (1) Interest from date of Bonds. SECURITY FOR THE BONDS Assessment Liens The Bonds are secured by unpaid assessments levied against private property within the Assessment District pursuant to the assessment proceedings. Such unpaid assessments, together with interest thereon and moneys in the Redemption Fund, constitute a trust fund for the redemption and payment of the principal of, premium, if any, and interest on the Bonds. Principal of, remium, if any, and interest on the Bonds are payable exclusively out of the Redemption Fund. The Reserve Fund is also a trust fund for the benefit of the registered owners of the Bonds. (See "SECURITY FOR THE BONDS - Reserve Fund" herein.) constitute a lien against the parcels of land on which they are Such liens are subordinate to all fixed special assessment liens previously imposed upon such property, but have priority over all existing and future private liens and over all fixed special assessment liens which may thereafter be created a ainst the property. Such lien is co-equal to and independent of the lien for several taxes. ~l~e table on the following page presents a listing of all prior outstanding bonds. Although the un aid assessments constitute liens assessed parcels, they do not constitute a personal in~P~btedness of the on respective owners. property There is no assurance