City of Port St . Lucie , Florida Community Redevelopment Agency
NOTE 5 . LONG-TERM LIABILITIES
A .
LONG-TERM LIABILITIES
Governmental Activities Debt
The following is a summary of the changes in long-term liabilities for the year ended September 30 , 2021 :
Beginning |
|
|
Balance |
Additions |
Reductions |
Ending Balance
Due within one year
Governmental Activities : |
|
|
|
|
|
|
CRA TIF Refunding Bonds , Series 2016 |
$ 27,655,000 |
$ |
- |
$ 3,585,000 |
$ 24,070,000 |
$ 3,770,000 |
Subtotal 27,655,000 - 3,585,000 24,070,000 3,770,000
Unamortized bond premium 2,470,802 - 753,301 1,717,501 - Subtotal 2,470,802 - 753,301 1,717,501 - Total bonds payable , net 30,125,802 - 4,338,301 25,787,501 3,770,000
Compensated Absences 16,049 25,355 18,727 22,677 2,041 Subtotal 16,049 25,355 18,727 22,677 2,041 Total $ 30,141,851 $ 25,355 $ 4,357,028 $ 25,810,178 $ 3,772,041
B . COMMUNITY REDEVELOPMENT AGENCY REDEVELOPMENT TRUST FUND REFUNDING BONDS , SERIES 2016
$ 38,260,000 Community Redevelopment Agency Redevelopment Trust Fund Refunding Revenue Bonds , Series 2016 - payable from and collateralized by a lien upon and pledge of the net tax increment revenues generated in the Community Redevelopment Area , due in annual principal installments ranging from $ 2,225,000 to $ 5,715,000 plus interest semiannually at a rate ranging from 2.0 % to 5.0 % through January 2026 . Proceeds were used to refund the remaining balances of the outstanding $ 11,870,000 CRA Bonds , Series 2004 , and the $ 46,450,000 CRA Bonds , Series 2006 .
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