General Information on Districts Current Debt

The following is a collection of general information about the district’s current debt as well as costs related to retiring the proposed bond;

Current Debt:

Principal Balance as of August 31, 2013:       $  7,395,000

Original Bond Amount:                                  $13,000,000

Maturity of Current Debt:                              August 2023

Approximate Annual Debt Payment:             $910,000

Interest Rate on Existing Debt:                      4.0%

Current I & S portion of Tax Rate:                 $0.22

Approximate Current State Assistance:          $450,000/Year

            Source:  Financial Audit Report, available on District Website