2025 Bonds ranges between 5.00% and 5.25%, and the Bonds are payable semi-annually on June 1 and December 1, beginning on December 01, 2026. The Bonds mature on December 01, 2048.
In addition to obtaining a better interest rate on the District's debt, the District restructured the debt repayment so that the annual repayment amount is virtually the same each year - which causes the amount of property taxes homeowners pay to the District each year for debt repayment will be approximately the same each year regardless of whether the taxable value of homes within the District rise or fall each year.
The District’s repayment schedule for its Series 2025 Bonds is as follows:
| |
Year Ended
December 31 |
Principal |
Interest |
Total
Payment Due |
| |
2026 |
$ 220,000 |
$ 641,458 |
$ 861,458 |
| |
2027 |
205,000 |
656,413 |
861,413 |
| |
2028 |
215,000 |
646,163 |
861,163 |
| |
2029 |
225,000 |
635,413 |
860,413 |
| |
2030 |
235,000 |
624,163 |
859,163 |
| |
2031 |
250,000 |
612,000 |
862,413 |
| |
2032 |
260,000 |
599,913 |
859,913 |
| |
2033 |
275,000 |
586,913 |
861,913 |
| |
2034 |
285,000 |
573,163 |
858,163 |
| |
2035 |
300,000 |
558,913 |
858,913 |
| |
2036 |
315,000 |
543,913 |
858,913 |
| |
2037 |
335,000 |
528,163 |
863,163 |
| |
2038 |
350,000 |
511,413 |
861,413 |
| |
2039 |
365,000 |
493,913 |
858,913 |
| |
2040 |
385,000 |
475,663 |
860,663 |
| |
2041 |
405,000 |
456,413 |
861,163 |
| |
2042 |
425,000 |
436,163 |
861,163 |
| |
2043 |
445,000 |
414,913 |
859,913 |
| |
2044 |
470,000 |
392,663 |
862,663 |
| |
2045 |
490,000 |
369,163 |
859,163 |
| |
2046 |
515,000 |
344,663 |
859,663 |
| |
2047 |
545,000 |
317,625 |
862,625 |
| |
2048 |
570,000 |
289,013 |
859,013 |
| |
2049 |
600,000 |
259,088 |
859,013 |
| |
2050 |
635,000 |
227,588 |
862,588 |
| |
2051 |
665,000 |
194,250 |
859,250 |
| |
2052 |
700,000 |
159,338 |
859,338 |
| |
2053 |
740,000 |
122,588 |
862,588 |
| |
2054 |
775,000 |
83,738 |
858,738 |
| |
2055 |
820,000 |
43,050 |
863,050 |
| |
|
$ 13,020,000 |
$ 12,798,246 |
$ 25,818,246 |
|