HomeMy WebLinkAbout1991-04-08 91-149 ORDERDate April,8 "'99 Item No. 91-149
Item/Subpa: Approval of FAA Building transfer from the General Fund
Responsible Dato the lAirport Fund
Pimace
Commentary:
The action to be taken by the City Council is to ratify the transfer of the
PAA Building from the General Fund to the Airport Fund effective June 30, 1990
with the repayment of $845,912.51 to the General Fund.
The City Council authorised the general Fund to finance the project them
Council Orders 85-21 $ 50,000 and 85-221 (Appropriation Resolve) $ 750,000.
The close out of the project returned $ 2,705.26. and $109.000 of excess
funding was restored to the General Fund 6/30/86. The net financing therefore
s $697,294.74 at 7.2% (1986 coupon rate). The repayment of $845,912.51
compensates the Cartel Fund for foregone interest at/ the city's borrowing rate.
This item was reviewed by the Finance Ca®Ittee April 1, 1991 and referred to
the City Council for adoption.
OeProamERMd
Manager's Comments: � IA:Am s. _._IM 1.wY.uw
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❑ Referral
91-149
Amigned Be Councilor Sawyer, April 8, 1991
CITY OF BANGOR
(TITLE.) 1O1berF-Transfer, of - the -FAA, Baddling 4rosethe General Fund! -to-the--Airport Fund
By the Cap Council of W City o(Banpor:
ORURRRUt
TMT the FAA Building he tre nefered from the General Fund to the Airport
Fund effective June 30, 1990, and
that the Airport Fund repay the augpt of $845.912.51 which represents
principal of $69],294.]4 plus interest at 7.2Z APR from 7/1/86 leas a payment
of $71,898.91 recorded 9/30/89.
In City Council April 8, 1991
Moved to New Business
TAAbled
4qf,
C ark
In City Cowen April M, 1991
Passed
'u"e C/Y .,.
SY C1
R."A R
Title,
Transfer of the PAA Building from the
Genere}, Mud to, Mn Airport, AW .....
......................................
g'
A iped to
..........-lel'YK . .........
Councilman
fM FLIGHT SEMICE 3R90X 01-18-1991 15:68:12 P9 L
..
...
. -----
____CoAPoundln9
Co Asia undinginterval: Annual
Annual Percentage rate......:
].MCA
Effective annual rate.......;
7.2000
_
f
Rete Per wgqunding Farina.:
7.20000
Equivalent daily rate.......:
U.019]P
. .
f
Valuation date: 07.01-194
Value: t
69]1296.]6
CAM FLOW DATA
-
----------------
----- ____-----------------
ABYHool---
SmGqPt
Ftrrt date ------t
.
Interval Last note
f�
------
0-1987 1 .W
..
2 Annual 0741-194
09-009-M-1989 $ 71.8908.91
1
_
07-01-1990 $ .00
1
01-01-1991 S I70,566.09
6 Annual 07-Ot-1996
AFORTUATION SCHEDULE - Her08l amortization
- Jun 00 year-eem
Pet Date Payment
Interest
Principal
Balance
..
..
Belentt at 0]-01-1906
697,291.74
1 0]-%-198] 0.00
30,205.22
50,206.22-
717,199.96
2 07-01-194 0.00
58,820.00
53,820.00.
801,319.96
3 09-80.1989 ]1,890.91
75,116.96
1,216.03-
802.535.99
6 07-01-1990 0.00
13.376.52
631376.52-
015,913.51
L —��1 yAp�
`— VV_\�d� Alpft-
5 07-01-1991 1]8,566.09
60,905.70
117,660.39
728,25212
6 07-01-1992 170.666.09
%434.15
126,131.91
602,12418
-
7 0]-01-1995 178,566.09
13,552.65
155,213.1(
466.906.]{
8.0]-01-1996 08,566.09
33.617.29
111, 968.W
321,957.96
9 07-01-1995 178.566.09
23,180.9]
1551505.12
166,572.02
10 07-01-1996 1]8,566.09
11,993.27
166,572.82
0.00
Grand tattle 1.113,295.15
116,000.71
69],291.71