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In July 2005, the City merged fire operation with Rural Fire District #14 located in eastern Guilford County and assumed
an outstanding obligation of $422,898 at a fixed rate of 5.75% maturing in August 2019 which is collateralized by the
District’s real property. The outstanding amount as of June 30, 2016 is $120,297.
Lease Purchase and Other Financing Agreements Debt Service Requirements to Maturity are:
Fiscal Year
Principal
Interest
Principal
(1)
Interest
Total
2016-17
2,342,834
$
410,659
$
302,618
$
430,333
$
3,486,444
$
2017-18
2,126,748
333,116
12,471,703
161,097
15,092,664
2018-19
2,000,584
257,485
347,308
19,962
2,625,339
2019-20
1,495,590
189,400
182,904
3,443
1,871,337
2020-21
1,374,060
134,423
1,508,483
2021-26
2,792,430
98,004
2,890,434
12,132,246
$
1,423,087
$
13,304,533
$
614,835
$
27,474,701
$
(1)
Installment financing agreement of $12,147,306 included is scheduled to mature in Fiscal 2018.
Governmental Activities
Business-Type Activities
Annual Requirements
Annual Requirements