In June 2020, the County issued $5,130,000 of unlimited tax road bonds with an interest rate of 4%. These bonds were also issued for the construction, maintenance, and operation of roads and turnpikes and professional services. Principal payments began February 15, 2024 and are payable in annual installments of $215,000 to $410,000 through February 15, 2040.
Fiscal
Year |
Principal
Due 2/1 |
Interest
Rate |
Interest
Due 2/1 |
Interest
Due 8/1 |
Total |
| 2026 |
235,000.00 |
4.00% |
93,800.00 |
89,100.00 |
417,900.00 |
| 2027 |
240,000.00 |
4.00% |
89,100.00 |
84,300.00 |
413,400.00 |
| 2028 |
250,000.00 |
4.00% |
84,300.00
|
79,300.00 |
413,600.00
|
| 2029 |
265,000.00 |
4.00% |
79,300.00 |
74,000.00 |
418,300.00 |
| 2030 |
275,000.00 |
4.00% |
74,000.00 |
68,500.00 |
417,500.00 |
| 2031 |
285,000.00 |
4.00% |
68,500.00 |
62,800.00 |
416,300.00 |
| 2032 |
295,000.00 |
4.00% |
62,800.00 |
56,900.00 |
414,700.00 |
| 2033 |
310,000.00 |
4.00% |
56,900.00 |
50,700.00 |
417,600.00 |
| 2034 |
320,000.00 |
4.00% |
50,700.00 |
44,300.00 |
415,000.00 |
| 2035 |
335,000.00 |
4.00% |
44,300.00 |
37,600.00 |
416,900.00 |
| 2036 |
345,000.00 |
4.00% |
37,600.00 |
30,700.00 |
413,300.00 |
| 2037 |
360,000.00 |
4.00% |
30,700.00 |
23,500.00 |
414,200.00 |
| 2038 |
375,000.00 |
4.00% |
23,500.00 |
16,000.00 |
414,500.00 |
| 2039 |
390,000.00 |
4.00% |
16,000.00 |
8,200.00 |
414,200.00 |
| 2040 |
410,000.00 |
4.00% |
8,200.00 |
- |
418,200.00 |
|
$ 4,690,000.00 |
|
$ 819,700.00 |
$ 725,900.00 |
$ 6,235,600.00 |