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Bond Debt

In July 2018, the District issued bonds totaling approximately $20.6 million at interest rates ranging between 5.25% and 7.625% and used the net cash proceeds to construct the infrastructure in and around the Buffalo Highlands neighborhood.

Interest is payable each year on June 1^st and December 1^st, and principal payments are due each year on December 1^st. The District may redeem the outstanding bond balance without paying penalties beginning on December 01, 2025.

The District’s repayment schedule for its bonds is as follows:

Year Ended December 31	Principal	Interest	Total Payment Due
2019	$ -	$ 967,331	$ 967,331
2020	-	967,331	967,331
2021	-	967,331	967,331
2022	-	967,331	967,331
2023	5,000	967,331	972,331
2024	165,000	967,069	1,132,069
2025	235,000	958,406	1,193,406
2026	270,000	946,069	1,216,069
2027	285,000	931,894	1,216,894
2028	325,000	916,931	1,241,931
2029	340,000	899,869	1,239,869
2030	385,000	882,019	1,267,019
2031	405,000	861,806	1,266,806
2032	450,000	840,544	1,290,544
2033	475,000	816,919	1,291,919
2034	525,000	791,981	1,316,981
2035	555,000	764,419	1,319,419
2036	610,000	735,281	1,345,281
2037	640,000	703,256	1,343,256
2038	700,000	669,656	1,369,656
2039	740,000	632,906	1,372,906
2040	805,000	593,131	1,398,131
2041	850,000	549,863	1,399,863
2042	925,000	504,175	1,429,175
2043	975,000	454,456	1,429,456
2044	1,055,000	402,050	1,457,050
2045	1,110,000	345,344	1,455,344
2046	1,200,000	285,681	1,485,681
2047	1,265,000	221,181	1,486,181
2048	2,850,000	153,188	3,003,188
	$ 18,145,000	$ 21,664,749	$ 39,809,749