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City of Paris, Texas
<br />Notes to Financial Statements
<br />September 30, 2007
<br />IV, Detailed Notes on All Funds and Component Unit (Continued)
<br />G. Long-Term Debt (Continued)
<br />General:
<br />Certificates of Obligation were originally issued for construction or improvements in various areas
<br />including streets, buildings, parks, and airport. Water and Sewer Revenue Bonds were originally
<br />issued for extending and improving the waterworks and sewer systems. Federal arbitrage
<br />regulations apply to bonds and certificates of obligation issued by the City.
<br />Long-term debt service requirements for the next five years and after in five year increments
<br />are as follows:
<br />Year Ending General Obligation Water and Sewer
<br />September 30, Principal Interest Principal Interest
<br />2008 $ 799,961 $ 551,767 $ 2,843,000 $ 1,106,797
<br />2009 832,560 516,099 2,975,800 973,077
<br />2010 872,578 478,753 3,116,200 832,401
<br />2011 910,016 440,720 3,259,200 680,904
<br />2012 950,200 400,765 3,424,800 525,643
<br />2013-2017 4,455,600 1,367,085 5,744,400 1,453,136
<br />2018-2022 3,510,000 371,518 2,370,000 263,337
<br /> $ 12,330,915 $ 4,]26,707 $ 23,733,400 $ 5,835,295
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