Loading...
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 $845,912.51 compensates the Cartel Fund for foregone interest at/ the city's borrowing rate. This item was reviewed by the Finance Ca®Ittee April 1, 1991 and referred to the City Council for adoption. OeProamERMd Manager's Comments: � IA:Am s. _._IM 1.wY.uw &� ',:f Yena'rM"� GILwt,t.wae' I f (itAil�' Y W.M1A`J�At' Ft$.Ltd fu...tkf,�awJ u Cneo-dM. aAetR' �.t:si ow w,11,aAa.fl.Qf.r.e �et �""Y"' �` Ciry Mannyer Ated Information: Z9 pJ Budget Appr al:yVA, FiemocD ,r Legal ApprorvakoxCC JisisseQ 4 �.a kat- (t •, FN Im'%.oy'sb wf+ cirysainm. Iaced For ntrpassage El Firm Reading Pope _of— ❑ 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