In February 2017, the County issued $6,450,000 of unlimited tax road bonds with an interest rate of 4%. These bonds were issued for the construction, maintenance, and operation of roads and turnpikes and professional services. Principal payments begin February 15, 2024 and are payable in annual installments of $350,000 to $590,000 through February 15, 2037.
Fiscal
Year |
Principal
Due 2/1 |
Interest
Rate |
Interest
Due 2/1 |
Interest
Due 8/1 |
Total |
| 2024 |
350,000.00 |
4.00% |
129,000.00 |
122,000.00 |
601,000.00 |
| 2025 |
365,000.00 |
4.00% |
122,000.00 |
114,700.00 |
601,700.00 |
| 2026 |
380,000.00 |
4.00% |
114,700.00 |
107,100.00 |
601,800.00 |
| 2027 |
395,000.00 |
4.00% |
107,100.00 |
99,200.00 |
601,300.00 |
| 2028 |
410,000.00 |
4.00% |
99,200.00 |
91,000.00 |
600,200.00 |
| 2029 |
430,000.00 |
4.00% |
91,000.00 |
82,400.00 |
603,400.00 |
| 2030 |
445,000.00 |
4.00% |
82,400.00 |
73,500.00 |
600,900.00 |
| 2031 |
465,000.00 |
4.00% |
73,500.00 |
64,200.00 |
602,700.00 |
| 2032 |
485,000.00 |
4.00% |
64,200.00 |
54,500.00 |
603,700.00 |
| 2033 |
500,000.00 |
4.00% |
54,500.00 |
44,500.00 |
599,000.00 |
| 2034 |
525,000.00 |
4.00% |
44,500.00 |
34,000.00 |
603,500.00 |
| 2035 |
545,000.00 |
4.00% |
34,000.00 |
23,100.00 |
602,100.00 |
| 2036 |
565,000.00 |
4.00% |
23,100.00 |
11,800.00 |
599,900.00 |
| 2037 |
590,000.00 |
4.00% |
11,800.00 |
- |
601,800.00 |
|
$ 6,450,000.00 |
|
$ 1,051,000.00 |
$ 922,000.00 |
$ 8,423,000.00 |