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Little Thompson Water District
<br /> Notes to Financial Statements
<br /> December 31, 2009
<br /> Note 6 -Long-Term Debt(Continued)
<br /> A summary of changes in debt is as follows:
<br /> Beginning Ending Due Within
<br /> Balance Additions Retirements Balance One Year
<br /> Revenue Bonds
<br /> 1999 3,255,000 - 235,000 3,020,000 245,000
<br /> 2002 2,810,000 - 110,000 2,700,000 115,000
<br /> 2004 4,265,000 - 650,000 3,615,000 675,000
<br /> 2004B 4,985,000 - 25,000 4,960,000 25,000 -
<br /> Loans Payable
<br /> 2004 CWCB 3,805,956 - 136,871 3,669,085 142,414
<br /> 2006 CWCB 4,820,135 - 181,113 4,639,022 187,633
<br /> 2006 CWR and PDA 5,790,322 - 257,902 5,532,420 263,449
<br /> Total 29,731,413 - 1,595,886 28,135,527 1,653,496
<br /> Current portion of long term debt (1,653,496)
<br /> Net bond premuims 45,136
<br /> Unamortized deferred loss on refunding bonds (963,487)
<br /> Noncurrent portion of long term debt 25,563,680
<br /> Defeased Bond Issues-As a result of in-substance defeasance transactions,the following outstanding
<br /> revenue bond issues are not shown on the Statement of Net Assets at December 31, 2009:
<br /> Series 1995 Water Revenue Bonds 3,606,000
<br /> Series 2000 Water Revenue Bonds 5,000,000
<br /> Total 8,606,000
<br /> Note 7- Rate Maintenance
<br /> The 1999, 2002 and 2004 bond resolutions require the District to establish, maintain, enforce, and collect
<br /> rates,fees, plant investment fees, availability fees,tolls,and charges for services furnished by or the use of
<br /> the system to generate gross revenue each fiscal year sufficient to pay Operation and Maintenance
<br /> Expenses and to create Net Revenue in an amount equal to not less than 125%of the amount necessary to
<br /> pay when due, the principal of and interest on the First Lien Bond, the Bonds, and any Parity Lien Bonds
<br /> coming due during such fiscal year.
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