Page 8 - 2017 Bonded Debt Summary
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2011 PRIVATE PLACEMENT REFUNDING,
                1997 CERTIFICATES OF PARTICIPATION

                Original Issue Amount:  $4,353,500
                Issuance Date:            6/01/2011
                Maturity Date:            11/1/2016
                Interest Rate:            2.78%

                Description: The  2011  Private    Placement  Refunding  of  the  1997    Certificates  of
                Participation was issued in June 2011. The 1997 Certificates of Participation (Variable
                Rate) funded the refinancing of the 1995 Certificates of Participation which funded
                the purchase and improvement of the City Hall building. Private placements are debt
                instruments that are not offered through a public offering and are generally purchased
                by institutional issuers such as banks, insurance companies and pension funds. Private
                placements are generally a cheaper alternative to public offerings. These bonds were
                purchased by Banc of America Public Capital Corp.

                Repayment Source:  The  repayment  source  for  these  bonds  is  the  City’s  Facilities
                Internal Service Fund.

                Security: These bonds are secured by city-owned property. This asset pool consists of
                the City Corporation Yard and the Senior Center.

                Debt Service Schedule: The annual debt service requirements for the 2011 Private
                Placement Refunding, 1997 Certificates of Participation payable outstanding  at June 30,
                2016, are as follows:




                 YEAR ENDING JUNE 30,         PRINCIPAL             INTEREST          INTEREST RATE
                 2017                         $ 776,000             $11,330              2.78%
                                               $776,000             $11,330
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