2012 Budget - South Suburban Parks and Recreation

South Suburban Park and Recreation District
Debt Service Fund Budget Overview
The principal and interest payment budgets are calculated using the debt service schedules on
the outstanding bonds. Below is a listing of the current outstanding general obligation bonds
and the payments due for 2012. Other expenditures are budgeted using historical
information.
Current outstanding General Obligation debt is as follows:
Balance as of
December 31, Moody's
Description 2011 Debt Type Rating
(2006) - $19,805,000 General Obligation $ 18,925,000 GO Debt Aaa, Aa3
Refunding Bonds
(2008) - $10,000,000 General Obligation
Refunding Bonds
Total General Obligation Bonds Outstanding $ 23,505,000
4,580,000 GO Debt not rated,
private sale
General Obligation Bond Payments
Debt Issuance
Total
2006 General Obligation Refunding Bonds - Principal $ 225,000
2008 General Obligation Refunding Bonds - Principal 2,255,000
Total General Obligation Principal Payments $ 2,480,000
2006 General Obligation Refunding Bonds - Interest $ 889,487
2008 General Obligation Refunding Bonds - Interest 142,896
Total General Obligation Interest Payments $ 1,032,383
Total General Obligation Bond Payments $ 3,512,383
253