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City of Laramie Biennial Budget 2013-2014 Page 59 DEBT ---PAGE BREAK--- City of Laramie Biennial Budget 2013-2014 Page 60 CITY OF LARAMIE LONG-TERM DEBT AT START OF 2013-2014 BIENNIUM Governmental Activities Long-term Obligations at June 30, 2011 Additions Deletions Long-term Obligations at June 30, 2012 Loans Payable: WTP note payable $ 10,000,000 $ - $ - $ 10,000,000 Pension Buy Back $ 38,509 $ - $ 38,509 $ - Capital Leases: VOIP Telephone System $ 49,191 $ - $ 24,279 $ 24,912 Police Cars $ 182,102 $ - $ 182,102 $ - Central Irrigation Project $ 205,238 $ - $ 102,610 $ 102,628 WAM Energy Lease (City Hall) $ 17,500 $ - $ 5,000 $ 12,500 Animal Shelter Building $ 107,955 $ - $ 107,955 $ - Long Building Technologies $ - $ 1,178,035 $ - $ 1,178,035 E911 Consoles $ 412,616 $ - $ 160,496 $ 252,120 WAM Energy Lease II $ 100,000 $ - $ 10,000 $ 90,000 General Obligation Bonds: SPT 2010 GO Bonds $ 22,300,000 $ - $ 1,500,000 $ 20,800,000 Government Activities Total: $ 33,413,111 $ 1,178,035 $ 2,130,951 $ 32,460,195 Business-Type Activities Long-term Obligations at June 30, 2011 Additions Deletions Long-term Obligations at June 30, 2012 Revenue Bonds: 2001 Water refunding bonds $ 2,025,000 $ - $ 300,000 $ 1,725,000 2008 Water refunding bonds $ 1,825,000 $ - $ 100,000 $ 1,725,000 Loans Payable: WWDC Spur Well loan $ 615,425 $ - $ 51,259 $ 564,166 WWDC Water Projects loan $ 1,191,977 $ - $ 87,968 $ 1,104,009 WWDC Soldier Springs Well loan $ 422,971 $ - $ 39,968 $ 383,003 WWDC Raw Water Pipeline $ 1,814,049 $ 43,171 $ - $ 1,857,220 WSLIB Main Lift Station Project $ 697,526 $ - $ 30,130 $ 667,396 WSLIB Wastewater Treatment Facility loan I $ 5,206,768 $ - $ 690,286 $ 4,511,056 WSLIB Wastewater Treatment Facility loan II $ 545,920 $ - $ 44,245 $ 501,675 Capital Leases: ---PAGE BREAK--- City of Laramie Biennial Budget 2013-2014 Page 61 Business-Type Activities Long-term Obligations at June 30, 2011 Additions Deletions Long-term Obligations at June 30, 2012 Landfill Dozer and Ripper $ 133,082 $ - $ 87,807 $ 45,275 Recycling Program Equipment $ - $ 452,452 $ 75,823 $ 376,629 Business-Type Activities Total: $ 14,477,718 $495,623 $1,507,486 $13,465,855 Grand Total: $47,890,829 $1,673,658 $3,638,437 $45,926,050 ---PAGE BREAK--- City of Laramie Biennial Budget 2013-2014 Page 62 CITY OF LARAMIE LEGAL DEBT LIMITS The City is subject to debt margin limits stemming from general obligation (GO) bonds. These limits are based upon the City’s assessed value of $214,438,007. Limits on GO Bonds related to General Projects: 4.0% of the City’s total assessed value ($8,577,520) (W.S. 16-5) Limits on GO Bonds related to Wastewater Projects: 8.0% of the City’s total assessed value ($17,155,041) (W.S. 16-5) Limits on GO Bonds related to Water Projects: Per Wyoming Statute Article 16, Section 5: water projects intended to supply water to cities or towns are exempt from debt limitations. Legal Debt Margins at End of Biennium FY 2011-2012 Type of Bond Debt Limit Total Debt Amount Applicable to Debt Limit Legal Debt Margin Total Net Debt Applicable to Limit (as a Percentage of Debt Limit) General Obligation Bonds $ 8,577,520 $ 7,563,636 $ 1,013,884 88.2% Sewer Bonds $ 17,155,041 $ 5,534,368 $ 11,620,673 32.3% DEBT PAYMENTS: BIENNIUM FY 2013-2014 Principal and Interest Payments by Fund Biennium FY 2013-2014 FY 2013 FY 2014 General Fund Principal $563,370 $392,827 General Fund Interest $194,760 $176,356 Emergency E911 Principal $166,412 $85,763 Emergency E911 Interest $8,760 $1,822 Specific Purpose Tax 350 Fund Principal $1,650,000 $1,825,000 Specific Purpose Tax 350 Fund Interest $499,375 $465,375 Water Fund Principal $699,615 $864,612 Water Fund Interest $420,005 $415,780 Wastewater Fund Principal $926,070 $950,289 Wastewater Fund Interest $210,966 $186,803 Solid Waste Fund Principal $261,038 $314,751 Solid Waste Fund Interest $55,226 $75,403 TOTAL: $5,655,597 $5,754,781