CAFR 2016

In July 2005, the City merged fire operation with Rural Fire District #14 located in eastern Guilford County and assumed an outstanding obligation of $422,898 at a fixed rate of 5.75% maturing in August 2019 which is collateralized by the District’s real property. The outstanding amount as of June 30, 2016 is $120,297.

Lease Purchase and Other Financing Agreements Debt Service Requirements to Maturity are:

Governmental Activities Annual Requirements

Business-Type Activities Annual Requirements

Principal (1)

Fiscal Year

Principal

Interest

Interest

Total

2016-17 2017-18 2018-19 2019-20 2020-21 2021-26

$

2,342,834 2,126,748 2,000,584 1,495,590 1,374,060 2,792,430 12,132,246

$

410,659 333,116 257,485 189,400 134,423 98,004

$

302,618

$

430,333 161,097 19,962

$

3,486,444 15,092,664 2,625,339 1,871,337 1,508,483 2,890,434

12,471,703

347,308 182,904

3,443

$ 27,474,701 $ (1) Installment financing agreement of $12,147,306 included is scheduled to mature in Fiscal 2018. 1,423,087 $ 13,304,533 $ 614,835 $

38ee