Resolutions-2018-005

CITY OF TIFFIN, IOWA GENERAL OBLIGATION DEBT PAYABLE FROM ANNUAL APPROPRIATIONS (As of March 2, 2018, Plus This Issue) <table> <tr> <th rowspan="2">Purpose:</th> <th colspan="2">This Issue</th> <th colspan="2"></th> </tr> <tr> <th>G.O. Annual Appropriation Corporate Purpose Bonds, Series 2015A</th> <th>G.O. Annual Appropriation Fire Truck Acquisition Bonds, Series 2018A</th> <th>TOTAL PRINCIPAL:</th> <th>TOTAL PRIN & INT:</th> </tr> <tr> <td>Dated:</td> <td>04/01/15</td> <td>04/04/18</td> <td></td> <td></td> </tr> <tr> <td>Original Amount:</td> <td>$4,430,000</td> <td>$1,000,000</td> <td></td> <td></td> </tr> <tr> <td>Maturity:</td> <td>1-Jun</td> <td>1-Jun</td> <td></td> <td></td> </tr> <tr> <td>Interest Rates:</td> <td>2.00-3.55%</td> <td></td> <td></td> <td></td> </tr> <tr> <td>2018</td> <td>$310,000</td> <td>$0</td> <td>$310,000</td> <td>$438,779</td> <td>2018</td> </tr> <tr> <td>2019</td> <td>315,000</td> <td>30,000</td> <td>345,000</td> <td>479,528</td> <td>2019</td> </tr> <tr> <td>2020</td> <td>325,000</td> <td>40,000</td> <td>365,000</td> <td>491,665</td> <td>2020</td> </tr> <tr> <td>2021</td> <td>330,000</td> <td>40,000</td> <td>370,000</td> <td>487,813</td> <td>2021</td> </tr> <tr> <td>2022</td> <td>340,000</td> <td>40,000</td> <td>380,000</td> <td>488,218</td> <td>2022</td> </tr> <tr> <td>2023</td> <td>345,000</td> <td>40,000</td> <td>385,000</td> <td>482,858</td> <td>2023</td> </tr> <tr> <td>2024</td> <td>355,000</td> <td>40,000</td> <td>395,000</td> <td>481,533</td> <td>2024</td> </tr> <tr> <td>2025</td> <td>365,000</td> <td>45,000</td> <td>410,000</td> <td>484,241</td> <td>2025</td> </tr> <tr> <td>2026</td> <td>380,000</td> <td>45,000</td> <td>425,000</td> <td>486,053</td> <td>2026</td> </tr> <tr> <td>2027</td> <td>390,000</td> <td>45,000</td> <td>435,000</td> <td>482,030</td> <td>2027</td> </tr> <tr> <td>2028</td> <td>405,000</td> <td>45,000</td> <td>450,000</td> <td>482,146</td> <td>2028</td> </tr> <tr> <td>2029</td> <td>0</td> <td>50,000</td> <td>50,000</td> <td>73,538</td> <td>2029</td> </tr> <tr> <td>2030</td> <td>0</td> <td>50,000</td> <td>50,000</td> <td>71,650</td> <td>2030</td> </tr> <tr> <td>2031</td> <td>0</td> <td>55,000</td> <td>55,000</td> <td>74,601</td> <td>2031</td> </tr> <tr> <td>2032</td> <td>0</td> <td>55,000</td> <td>55,000</td> <td>72,415</td> <td>2032</td> </tr> <tr> <td>2033</td> <td>0</td> <td>55,000</td> <td>55,000</td> <td>70,188</td> <td>2033</td> </tr> <tr> <td>2034</td> <td>0</td> <td>60,000</td> <td>60,000</td> <td>72,800</td> <td>2034</td> </tr> <tr> <td>2035</td> <td>0</td> <td>60,000</td> <td>60,000</td> <td>70,265</td> <td>2035</td> </tr> <tr> <td>2036</td> <td>0</td> <td>65,000</td> <td>65,000</td> <td>72,593</td> <td>2036</td> </tr> <tr> <td>2037</td> <td>0</td> <td>70,000</td> <td>70,000</td> <td>74,655</td> <td>2037</td> </tr> <tr> <td>2038</td> <td>0</td> <td>70,000</td> <td>70,000</td> <td>71,558</td> <td>2038</td> </tr> <tr> <td colspan="4">$3,860,000 $1,000,000</td> <td>$4,860,000</td> <td>$6,009,122</td> </tr> </table> NOTE: 79% OF GENERAL OBLIGATION ANNUAL APPROPRIATION DEBT PAYABLE FROM TAXES WILL BE RETIRED WITHIN TEN YEARS. (1) These bonds are subject to an annual determination by the City Council and are a general obligation of the City only in the current fiscal year for which an annual appropriation has been made. The bonds count against the City's statutory debt limit to the extent of the current fiscal year principal amount.