CITY OF CONCORD DEBT SERVICE FUNDS FOR THE YEARS ENDING JUNE 30, 2018 AND 2019

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1 DEBT SERVICE FUNDS FOR THE YEARS ENDING JUNE 30, 2018 AND 2019 Debt Service Funds are used to account for accumulation of resources for payment of interest and principal on the City's general bond debt. Debt Service Funds include: REVENUE BONDS Performing Arts Revenue Bonds To account for the accumulation of revenue provided by Live Nation for payment of interest and principal on the Pavilion lease revenue bonds issued in Lease Revenue Financing Agreement To account for the accumulation of resources for payment of interest and principal for a lease financing agreement entered into by the City in 2015 to fund street and infrastructure improvements. LEASE AGREEMENTS Lease Purchase To account for the accumulation of resources for payment of interest and principal for a lease issued to fund various energy efficiency improvements in ENTERPRISE FUNDS DEBT Longterm debt associated with the Enterprise funds are accounted for in the Enterprise funds themselves. The Sewer fund has the following debt: 2012 Wastewater Revenue Refunding Bonds Debt issued to provide for a refunding of the City s outstanding 2004 Certificates of Participation Wastewater System Improvement Bonds. Repayment of these bonds is from a pledge of revenue from the Sewer Enterprise Fund Certificates of Participation Debt issued to fund a phase of the wastewater system improvement project. The City has pledged Wastewater System Net Revenues to be used to make required payment installments. The Golf fund has the following debt: 1998 Certificates of Participation Debt issued to fund Diablo Creek Golf Course improvements and to refund $810,000 of outstanding ABAG 23 Certificates of Participation. 277

2 DEBT SERVICE FUNDS Annual debt service requirements to maturity for longterm debt, including interest payments, are as follow: YEAR ENDING JUNE 30 Revenue Bonds Lease Agreements Certificates of Participation Concord Lease Revenue 2012 Sewer Lease 1998 Golf 2007 Sewer Pavilion Financing Refunding Purchase COPS COPS Total ,314 2,496, , , , ,665 5,496, ,122 2,499, , , , ,790 5,475, ,196 2,497, , , ,190 5,221, ,124 2,498, , , ,790 5,212, ,499, , , ,590 4,966, ,498, , , ,065 4,994, ,497, , , ,175 5,024, ,495, , , ,163 5,062, ,175 1,014, ,088 2,601, , , ,950 2,104,459 Thereafter $ $ $ 1,499,950 $ $ $ 4,180,000 $ 1,499,950 Total $ 1,410,756 $ 19,984,372 $ 9,029,480 $ 8,417,983 $ 452,000 $ 12,546,466 $ 47,661,057 Funding Sources: Concord Pavilion Revenue Bonds will continue to be paid from operating revenues as part of the management agreement between the City of Concord and Live Nation. Lease Revenue Financing Bonds are paid by Measure Q revenues Sewer Refunding Bonds are paid by revenues from the Sewer fund. Lease Purchase Agreement is paid by the General, Building Maintenance and Street Lighting Maintenance Districts funds Golf COPs is paid from the Golf fund Sewer COPs are paid by net revenues of the Sewer fund. 278

3 Performing Arts Center Lease Revenue Bonds Performing Arts Center Lease Revenue Bonds were issued in 1995 to finance a portion of the renovation and expansion of Concord Pavilion leased by the City. A portion of these bonds were called in September, Series 1995 due 8/1/2020 $ 18,700,000 Series 1995, FY $ 345,000 $ 86,314 $ 431,314 Series 1995, FY ,000 59, ,122 Series 1995 $ 560,000 Lease Revenue Financing Agreement The City entered into a lease financing agreeement in 2015 to provide for street and infrastructure improvements in the city. Lease Revenue Agreement, due 3/01/25 $ 22,635,000 Lease Revenue Agreement, FY $ 2,150,000 $ 346,579 $ 2,496,579 Lease Revenue Agreement, FY ,195, ,703 2,499,703 Lease Revenue Agreement $ 14,085, Wastewater Revenue Refunding Bonds CITY OF CONCORD REVENUE BONDS The City issued revenue refunding bonds in 2012 to provide for a refunding of the City's outstanding 2004 Certificates of Participation Wastewater System Improvement Bonds. Revenue Refunding Bonds, due 2/01/29 $ 10,080,000 Revenue Refunding Bonds, FY $ 540,000 $ 213,581 $ 753,581 Revenue Refunding Bonds, FY , , ,981 Revenue Refunding Bonds $ 6,490,

4 LEASE AGREEMENTS Lease Purchase Agreement The City entered into a Lease Purchase Agreement in 2011 to finance various energy efficiency improvements. Lease Purchase Agreement due 12/1/2026 $ 8,384,040 Lease Purchase Agreement, FY $ 445,376 $ 309,634 $ 755,010 Lease Purchase Agreement, FY $ 494,626 $ 287,908 $ 782,534 Lease Purchase Agreement $ 5,685,

5 CERTIFICATES OF PARTICIPATION City of Concord Certificates of Participation ABAG 41 Certificates of Participation were issued in 1998 to fund Diablo Creek Golf Course improvements (Enterprise Fund) and to defease outstanding ABAG 23 Certificates of Participation (Debt Service Fund) for renovation of Centre Concord. ABAG 41 Centre Concord due 8/1/2011 $ 810,000 ABAG 41 Diablo Creek Golf Course due 8/1/2018 2,750,000 Total ABAG 41 $ 3,560,000 ABAG 41 Centre Concord $ $ $ ABAG 41 Diablo Creek Golf Course, FY ,000 16, ,375 ABAG 41 Diablo Creek Golf Course, FY ,000 5, ,625 Total $ 430,000 $ 22,000 $ 452,000 ABAG 41 Centre Concord $ ABAG 41 Diablo Creek Golf Course Total principal outstanding ABAG 41 $ 2007 Sewer Certificates of Participation 2007 Certificates of Participation Wastewater System Improvement were issued in 2007 to fund a wastewater sysem improvement project to install pipelines from the Concord pump station to the intersection of Meridian Park Boulevard and Galaxy Way Sewer COPs 12,820, Sewer COPs, FY $ 450,000 $ 388,665 $ 838, Sewer COPs, FY , , ,790 Total $ 915,000 $ 760,455 $ 1,675, Sewer COPs $ 8,140,

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