2017/01/10 City Council Resolution 2017-006RESOLUTION NO. 2017-006
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROHNERT PARK AS
SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF ROHNERT PARK AMENDING
THE REPAYMENT SCHEDULE FOR AMOUNTS OWED TO THE
CITY OF ROHNERT PARK BY THE FORMER
COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF ROHNERT PARK
WHEREAS, the Redevelopment Dissolution Law (ABlx 26, enacted June 28, 2013, as
amended by AB 1484, enacted June 26, 2013) provided for creation of the Successor Agency to
the Community Development Commission of the City of Rohnert Park ("Successor Agency")
and required the Successor Agency to expeditiously wind -down the affairs of the former
Community Development Commission as directed by the oversight board created pursuant to
Section 34179 of the California Health and Safety Code ("Oversight Board"); and
WHEREAS, pursuant to Health and Safety Code Section 34179.7, following the
successful completion of certain statutory prerequisites, the Successor Agency received a
Finding of Completion from the State of California Department of Finance by letter dated April
26, 2013; and
WHEREAS, Health and Safety Code Section 34191.4(b)(1) provides that following
issuance of a Finding of Completion, upon application by a successor agency, an oversight board
may make a finding that a loan from a city to a redevelopment agency was for legitimate
redevelopment purposes, and thereafter such loan shall be deemed an enforceable obligation of
the former redevelopment agency; and
WHEREAS, on September 16, 2013, the Oversight Board adopted its Resolution No.
OSB 2013-05 and made a finding that the City of Rohnert Park ("City") and the former
Community Development Commission entered into that certain Amended and Restated Loan
Agreement No. 2 dated February 27, 1990, as amended by Amendment No. 1 to the Amended
and Restated Loan Agreement No. 2 dated January 1, 1999, and Amendment No. 2 to the
Amended and Restated Loan Agreement No. 2 dated October 10, 2000 ("Loan Agreement") for
legitimate redevelopment purposes; and
WHEREAS, the Oversight Board found that the City loaned a total of Five Million Four
Hundred and Sixty Thousand Dollars ($5,460,000) ("Loan") to the Community Development
Commission, of which Two Million Seventy Five Thousand Dollars ($2,075,000) in principal
and interest prior to recalculation was outstanding as of June 30 2013); and
WHEREAS, Resolution No. OSB 2013-05 provided, in accordance with the provisions
of Health and Safety Code Section 34191.4(b)(2) then in effect, that the accumulated interest on
the remaining principal amount of the loan shall be recalculated from origination at the Local
Agency Investment Fund ("LAIF") rate, and that the loan shall be repaid to the city in
1
2017-006
accordance with a defined schedule over a reasonable term of years at an interest rate not to
exceed the LAIF rate; and
WHEREAS, effective September 22, 2015, Health and Safety Code Section
34191.4(b)(3) provides that any interest on the remaining principal amount of the Loan that was
previously unpaid after the original effective date of the loan shall be recalculated from the date
of origination of the loan as approved by the Community Development Commission on a
quarterly basis, at a simple interest rate of 3 percent; and
WHEREAS, the enactment of Health and Safety Code section 34191.4(b)(3) requires a
recalculation of the Loan; and
WHEREAS, the Loan Agreement provided for the City to loan funds to and advance
funds on behalf of the former Community Development Commission for costs and expenses
incurred in connection with the financing, acquisition and construction of a cultural arts facility;
and
WHEREAS, the Successor Agency desires to approve the recalculation of the Loan,
which will be considered for approval by the Oversight Board.
NOW, THEREFORE, THE SUCCESSOR AGENCY CITY OF ROHNERT PARK
DOES RESOLVE AS FOLLOWS:
Section 1. The Successor Agency determines that the Outstanding Balance of the Loan
shall be repaid to the City pursuant to the following terms and conditions:
A. Tenn. The term for repayment of the Outstanding Balance and interest
thereon ("Term") shall continue until the date on which the Outstanding Balance and
interest thereon have been paid in full, as provided in Section 113 below.
B. Schedule of Payments. Within ten (10) days following the Successor
Agency's receipt of each semi-annual distribution of property taxes pursuant to Health
and Safety Code Section 34185 for the duration of the Term, the Successor Agency shall
make a payment to the City equal to the maximum amount allowed under Health and
Safety Code Section 34191.4(b)(2)(A). Moneys repaid shall be applied first to the
principal, and second to the interest.
C. Interest Rate. Interest on the remaining Outstanding Balance shall
continue to accrue at the simple interest rate of 3 percent.
D. Recalculated Outstanding_ Loan Balance. The outstanding principal and
interest balance ("Outstanding Balance") on the General Fund Loan was recalculated
through June 30, 2024 (Exhibit A - General Fund Loan recalculation spreadsheet). The
current Outstanding Balance as of December 31, 2016 is Two Million One Hundred
Seventy Five Thousand Eight Hundred Thirty One and 31/100 Dollars ($2,175,831.31).
2
2017-006
Section 2. The staff of the Successor Agency is hereby authorized and directed to include
as an enforceable obligation on future Recognized Obligation Payment Schedules
repayment of the Outstanding Balance of the Loan and interest as allowed pursuant to
State law and to carry out the purposes and intent of this Resolution.
DULY AND REGULARLY ADOPTED by the City Council of the City of Rohnert
Park as Successor Agency to the Community Development Commission of the City of Rohnert
Park this i 0th day of January 2017.
CITY OF ROHNERT PARK
ake Macke zie, Mayor
ATTEST:
(), (L t 1 (446Z1,11V,
Caitlin Saldanha, Deputy City Clerk
Attachments: Exhibit A Loan Schedule
AHANOTU: -
BELFORTE:
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STAFFORD: MACKENZIE: f
AYES: (
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2017-006
Exhibit A
General Fund Loan to Former Redevlopment Agency
Recalcuation at 3% Interest to Reset Balance
Interest
Start Date
End Date
Interest
Rate
Accrued
(Repaid)
Principal Balance
Loan Balance
06/15/00
06/30/00
3.000%
$2,558.22
$2,075,000.00
$2,077,558.22
06/30/00
09/30/00
3.000%
15,690.41
2,075,000.00
2,093,248.63
09/30/00
12/31/00
3.000%
15,690.41
2,075,000.00
2,108,939.04
12/31/00
03/31/01
3.000%
15,349.32
2,075,000.00
2,124,288.36
03/31/01
06/30/01
3.000%
15,519.86
2,075,000.00
2,139,808.22
06/30/01
09/30/01
3.000%
15,690.41
2,075,000.00
2,155,498.63
09/30/01
12/31/01
3.000%
15,690.41
2,075,000.00
2,171,189.04
12/31/01
03/31/02
3.000%
15,349.32
2,075,000.00
2,186,538.36
03/31/02
06/30/02
3.000%
15,519.86
2,075,000.00
2,202,058.22
06/30/02
09/30/02
3.000%
15,690.41
2,075,000.00
2,217,748.63
09/30/02
12/31/02
3.000%
15,690.41
2,075,000.00
2,233,439.04
12/31/02
03/31/03
3.000%
15,349.32
2,075,000.00
2,248,788.36
03/31/03
06/30/03
3.000%
15,519.86
2,075,000.00
2,264,308.22
06/30/03
09/30/03
3.000%
15,690.41
2,075,000.00
2,279,998.63
09/30/03
12/31/03
3.000%
15,690.41
2,075,000.00
2,295,689.04
12/31/03
03/31/04
3.000%
15,519.86
2,075,000.00
2,311,208.90
03/31/04
06/30/04
3.000%
15,519.86
2,075,000.00
2,326,728.77
06/30/04
09/30/04
3.000%
15,690.41
2,075,000.00
2,342,419.18
09/30/04
12/31/04
3.000%
15,690.41
2,075,000.00
2,358,109.59
12/31/04
03/31/05
3.000%
15,349.32
2,075,000.00
2,373,458.90
03/31/05
06/30/05
3.000%
15,519.86
2,075,000.00
2,388,978.77
06/30/05
09/30/05
3.000%
15,690.41
2,075,000.00
2,404,669.18
09/30/05
12/31/05
3.000%
15,690.41
2,075,000.00
2,420,359.59
12/31/05
03/31/06
3.000%
15,349.32
2,075,000.00
2,435,708.90
03/31/06
06/30/06
3.000%
15,519.86
2,075,000.00
2,451,228.77
06/30/06
09/30/06
3.000%
15,690.41
2,075,000.00
2,466,919.18
09/30/06
12/31/06
3.000%
15,690.41
2,075,000.00
2,482,609.59
12/31/06
03/31/07
3.000%
15,349.32
2,075,000.00
2,497,958.90
03/31/07
06/30/07
3.000%
15,519.86
2,075,000.00
2,513,478.77
06/30/07
09/30/07
3.000%
15,690.41
2,075,000.00
2,529,169.18
09/30/07
12/31/07
3.000%
15,690.41
2,075,000.00
2,544,859.59
12/31/07
03/31/08
3.000%
15,519.86
2,075,000.00
2,560,379.45
03/31/08
06/30/08
3.000%
15,519.86
2,075,000.00
2,575,899.32
06/30/08
09/30/08
3.000%
15,690.41
2,075,000.00
2,591,589.73
09/30/08
12/31/08
3.000%
15,690.41
2,075,000.00
2,607,280.14
12/31/08
03/31/09
3.000%
15,349.32
2,075,000.00
2,622,629.45
03/31/09
06/30/09
3.000%
15,519.86
2,075,000.00
2,638,149.32
06/30/09
09/30/09
3.000%
15,690.41
2,075,000.00
2,653,839.73
09/30/09
12/31/09
3.000%
15,690.41
2,075,000.00
2,669,530.14
12/31/09
03/31/10
3.000%
15,349.32
2,075,000.00
2,684,879.45
03/31/10
06/30/10
3.000%
15,519.86
2,075,000.00
2,700,399.32
06/30/10
09/30/10
3.000%
15,690.41
2,075,000.00
2,716,089.73
09/30/10
12/31/10
3.000%
15,690.41
2,075,000.00
2,731,780.14
12/31/10
03/31/11
3.000%
15,349.32
2,075,000.00
2,747,129.45
03/31/11
06/30/11
3.000%
15,519.86
2,075,000.00
2,762,649.32
06/30/11
09/30/11
3.000%
15,690.41
2,075,000.00
2,778,339.73
09/30/11
12/31/11
3.000%
15,690.41
2,075,000.00
2,794,030.14
12/31/11
03/31/12
3.000%
15,519.86
2,075,000.00
2,809,550.00
03/31/12
06/30/12
3.000%
15,519.86
2,075,000.00
2,825,069.86
06/30/12
09/30/12
3.000%
15,690.41
2,075,000.00
2,840,760.27
09/30/12
12/31/12
3.000%
15,690.41
2,075,000.00
2,856,450.68
12/31/12
03/31/13
3.000%
15,349.32
2,075,000.00
2,871,800.00
03/31/13
06/30/13
3.000%
15,519.86
2,075,000.00
2,887,319.86
06/30/13
09/30/13
3.000%
15,690.41
2,075,000.00
2,903,010.27
09/30/13
12/31/13
3.000%
15,690.41
2,075,000.00
2,918,700.68
12/31/13
03/31/14
3.000%
15,349.32
2,075,000.00
2,934,050.00
03/31/14
06/30/14
3.000%
15,519.86
2,075,000.00
2,949,569.86
06/30/14
09/30/14
3.000%
15,690.41
2,075,000.00
2,965,260.27
09/30/14
12/31/14
3.000%
15,690.41
2,075,000.00
2,980,950.68
01/01/15
01/01/15
Paym to Prin 1st
(295,812.43)
2,685,138.25
12/31/14
03/31/15
3.000%
13,161.11
1,779,187.57
2,698,299.37
03/31/15
06/30/15
3.000%
13,307.35
1,779,187.57
2,711,606.72
06/30/15
09/30/15
3.000%
13,453.58
1,779,187.57
2,725,060.30
09/30/15
12/31/15
3.000%
13,453.58
1,779,187.57
2,738,513.88
01/01/16
01/01/16
Paym to Prin 1st
(598,209.00)
2,140,304.88
12/31/15
03/31/16
3.000%
8,833.07
1,180,978.57
2,149,137.95
03/31/16
06/30/16
3.000%
8,833.07
1,180,978.57
2,157,971.03
06/30/16
09/30/16
3.000%
8,930.14
1,180,978.57
2,166,901.17
09/30/16
12/31/16
3.000%
8,930.14
1,180,978.57
2,175,831.31
12/31/16
03/31/17
3.000%
8,736.01
1,180,978.57
2,184,567.31
03/31/17
06/30/17
3.000%
8,833.07
1,180,978.57
2,193,400.38
06/30/17
09/30/17
3.000%
8,930.14
1,180,978.57
2,202,330.52
09/30/17
12/31/17
3.000%
8,930.14
1,180,978.57
2,211,260.66
12/31/17
03/31/18
3.000%
8,736.01
1,180,978.57
2,219,996.67
03/31/18
06/30/18
3.000%
8,833.07
1,180,978.57
2,228,829.74
06/30/18
09/30/18
3.000%
8,930.14
1,180,978.57
2,237,759.88
09/30/18
12/31/18
3.000%
8,930.14
1,180,978.57
2,246,690.02
12/31/18
03/31/19
3.000%
8,736.01
1,180,978.57
2,255,426.03
03/31/19
06/30/19
3.000%
8,833.07
1,180,978.57
2,264,259.10
06/30/19
09/30/19
3.000%
8,930.14
1,180,978.57
2,273,189.24
09/30/19
12/31/19
3.000%
8,930.14
1,180,978.57
2,282,119.38
12/31/19
03/31/20
3.000%
8,833.07
1,180,978.57
2,290,952.45
03/31/20
06/30/20
3.000%
8,833.07
1,180,978.57
2,299,785.52
06/30/20
09/30/20
3.000%
8,930.14
1,180,978.57
2,308,715.66
09/30/20
12/31/20
3.000%
8,930.14
1,180,978.57
2,317,645.80
12/31/20
03/31/21
3.000%
8,736.01
1,180,978.57
2,326,381.81
03/31/21
06/30/21
3.000%
8,833.07
1,180,978.57
2,335,214.88
06/30/21
09/30/21
3.000%
8,930.14
1,180,978.57
2,344,145.02
09/30/21
12/31/21
3.000%
8,930.14
1,180,978.57
2,353,075.16
12/31/21
03/31/22
3.000%
8,736.01
1,180,978.57
2,361,811.16
03/31/22
06/30/22
3.000%
8,833.07
1,180,978.57
2,370,644.24
06/30/22
09/30/22
3.000%
8,930.14
1,180,978.57
2,379,574.38
09/30/22
12/31/22
3.000%
8,930.14
1,180,978.57
2,388,504.52
12/31/22
03/31/23
3.000%
8,736.01
1,180,978.57
2,397,240.52
03/31/23
06/30/23
3.000%
8,833.07
1,180,978.57
2,406,073.59
06/30/23
09/30/23
3.000%
8,930.14
1,180,978.57
2,415,003.73
09/30/23
12/31/23
3.000%
8,930.14
1,180,978.57
2,423,933.87
12/31/23
03/31/24
3.000%
8,833.07
1,180,978.57
2,432,766.94
03/31/24
06/30/24
3.000%
8,833.07
1,180,978.57
2,441,600.02
Balances
1,260,621.45
1,180,978.57
2,441,600.02
EXHIBIT A TO RESO #OSB2013-05
General Fund Loan
6-30-13 Balance
LAIF Historical Interest Rate
Start Date
End Date
Interest
Rate
Interest
Accrued
(Repaid)
Principal Balance
Loan Balance
06/15/00
06/30/00
6.349% $
5,414.04
$ 2,075,000.00 $
2,080,414.04
06/30/00
07/31/00
6.443%
11,354.68
2,075,000.00
2,091,768.73
07/31/00
08/31/00
6.505%
11,463.95
2,075,000.00
2,103,232.68
08/31/00
09/30/00
6.502%
11,089.03
2,075,000.00
2,114,321.70
09/30/00
10/31/00
6.517%
11,485.10
2,075,000.00
2,125,806.80
10/31/00
11/30/00
6.538%
11,150.42
2,075,000.00
2,136,957.23
11/30/00
12/31/00
6.535%
11,516.82
2,075,000.00
2,148,474.04
12/31/00
01/31/01
6.372%
11,229.56
2,075,000.00
2,159,703.60
01/31/01
02/28/01
6.169%
9,819.70
2,075,000.00
2,169,523.30
02/28/01
03/31/01
5.976%
10,531.68
2,075,000.00
2,180,054.98
03/31/01
04/30/01
5.760%
9,823.56
2,075,000.00
2,189,878.54
04/30/01
05/31/01
5.328%
9,389.69
2,075,000.00
2,199,268.23
05/31/01
06/30/01
4.958%
8,455.77
2,075,000.00
2,207,723.99
06/30/01
07/31/01
4.635%
8,168.39
2,075,000.00
2,215,892.39
07/31/01
08/31/01
4.502%
7,934.00
2,075,000.00
2,223,826.39
08/31/01
09/30/01
4.288%
7,313.10
2,075,000.00
2,231,139.49
09/30/01
10/31/01
3.785%
6,670.41
2,075,000.00
2,237,809.90
10/31/01
11/30/01
3.526%
6,013.52
2,075,000.00
2,243,823.42
11/30/01
12/31/01
3.261%
5,746.95
2,075,000.00
2,249,570.38
12/31/01
01/31/02
3.068%
5,406.82
2,075,000.00
2,254,977.20
01/31/02
02/28/02
2.967%
4,722.81
2,075,000.00
2,259,700.01
02/28/02
03/31/02
2.861%
5,042.02
2,075,000.00
2,264,742.04
03/31/02
04/30/02
2.845%
4,852.09
2,075,000.00
2,269,594.13
04/30/02
05/31/02
2.740%
4,828.78
2,075,000.00
2,274,422.91
05/31/02
06/30/02
2.687%
4,582.62
2,075,000.00
2,279,005.53
06/30/02
07/31/02
2.714%
4,782.96
2,075,000.00
2,283,788.49
07/31/02
08/31/02
2.594%
4,571.48
2,075,000.00
2,288,359.97
08/31/02
09/30/02
2.604%
4,441.07
2,075,000.00
2,292,801.04
09/30/02
10/31/02
2.487%
4,382.91
2,075,000.00
2,297,183.95
10/31/02
11/30/02
2.301%
3,924.31
2,075,000.00
2,301,108.26
11/30/02
12/31/02
2.201%
3,878.89
2,075,000.00
2,304,987.14
12/31/02
01/31/03
2.103%
3,706.18
2,075,000.00
2,308,693.32
01/31/03
02/28/03
1.945%
3,096.01
2,075,000.00
2,311,789.34
02/28/03
03/31/03
1.904%
3,355.47
2,075,000.00
2,315,144.81
03/31/03
04/30/03
1.858%
3,168.78
2,075,000.00
2,318,313.59
04/30/03
05/31/03
1.769%
3,117.56
2,075,000.00
2,321,431.15
05/31/03
06/30/03
1.697%
2,894.20
2,075,000.00
2,324,325.35
06/30/03
07/31/03
1.653%
2,913.13
2,075,000.00
2,327,238.48
07/31/03
08/31/03
1.632%
2,876.12
2,075,000.00
2,330,114.60
R:\CDC\CDCoan Documents\6-15-00 Loan to GF - LAIF rate 1 of 4
General Fund Loan
6-30-13 Balance
LAIF Historical Interest Rate
Start Date
End Date
Interest
Rate
Interest
Accrued
(Repaid)
Principal Balance
Loan Balance
08/31/03
09/30/03
1.635%
2,788.46
2,075,000.00
2,332,903.06
09/30/03
10/31/03
1.596%
2,812.68
2,075,000.00
2,335,715.73
10/31/03
11/30/03
1.572%
2,681.01
2,075,000.00
2,338,396.75
11/30/03
12/31/03
1.545%
2,722.80
2,075,000.00
2,341,119.55
12/31/03
01/31/04
1.528%
2,692.84
2,075,000.00
2,343,812.38
01/31/04
02/29/04
1.440%
2,374.03
2,075,000.00
2,346,186.41
02/29/04
03/31/04
1.474%
2,597.67
2,075,000.00
2,348,784.08
03/31/04
04/30/04
1.445%
2,464.42
2,075,000.00
2,351,248.50
04/30/04
05/31/04
1.426%
2,513.08
2,075,000.00
2,353,761.58
05/31/04
06/30/04
1.469%
2,505.35
2,075,000.00
2,356,266.93
06/30/04
07/31/04
1.604%
2,826.78
2,075,000.00
2,359,093.71
07/31/04
08/31/04
1.672%
2,946.61
2,075,000.00
2,362,040.32
08/31/04
09/30/04
1.771%
3,020.40
2,075,000.00
2,365,060.73
09/30/04
10/31/04
1.890%
3,330.80
2,075,000.00
2,368,391.53
10/31/04
11/30/04
2.003%
3,416.08
2,075,000.00
2,371,807.60
11/30/04
12/31/04
2.134%
3,760.81
2,075,000.00
2,375,568.41
12/31/04
01/31/05
2.264%
3,989.91
2,075,000.00
2,379,558.32
01/31/05
02/28/05
2.368%
3,769.34
2,075,000.00
2,383,327.66
02/28/05
03/31/05
2.542%
4,479.84
2,075,000.00
2,387,807.50
03/31/05
04/30/05
2.724%
4,645.73
2,075,000.00
2,392,453.23
04/30/05
05/31/05
2.856%
5,033.21
2,075,000.00
2,397,486.44
05/31/05
06/30/05
2.967%
5,060.16
2,075,000.00
2,402,546.60
06/30/05
07/31/05
3.083%
5,433.26
2,075,000.00
2,407,979.85
07/31/05
08/31/05
3.179%
5,602.44
2,075,000.00
2,413,582.30
08/31/05
09/30/05
3.324%
5,669.01
2,075,000.00
2,419,251.31
09/30/05
10/31/05
3.458%
6,094.13
2,075,000.00
2,425,345.44
10/31/05
11/30/05
3.636%
6,201.12
2,075,000.00
2,431,546.57
11/30/05
12/31/05
3.808%
6,710.95
2,075,000.00
2,438,257.52
12/31/05
01/31/06
3.955%
6,970.01
2,075,000.00
2,445,227.53
01/31/06
02/28/06
4.043%
6,435.57
2,075,000.00
2,451,663.10
02/28/06
03/31/06
4.142%
7,299.57
2,075,000.00
2,458,962.66
03/31/06
04/30/06
4.305%
7,342.09
2,075,000.00
2,466,304.75
04/30/06
05/31/06
4.563%
8,041.51
2,075,000.00
2,474,346.26
05/31/06
06/30/06
4.700%
8,015.75
2,075,000.00
2,482,362.01
06/30/06
07/31/06
4.849%
8,545.53
2,075,000.00
2,490,907.54
07/31/06
08/31/06
4.946%
8,716.48
2,075,000.00
2,499,624.02
08/31/06
09/30/06
5.023%
8,566.62
2,075,000.00
2,508,190.64
09/30/06
10/31/06
5.098%
8,984.35
2,075,000.00
2,517,175.00
10/31/06
11/30/06
5.125%
8,740.58
2,075,000.00
2,525,915.58
11/30/06
12/31/06
5.129%
9,038.98
2,075,000.00
2,534,954.56
R:\CI)C\C DC Loan Documentrs\6 15-00 Loan to GF - LAIF rate 2 of 4
General Fund Loan
6-30-13 Balance
LAIF Historical Interest Rate
Start Date
End Date
Interest
Rate
Interest
Accrued
(Repaid)
Principal Balance
Loan Balance
12/31/06
01/31/07
5.156%
9,086.57
2,075,000.00
2,544,041.13
01/31/07
02/28/07
5.181%
8,247.02
2,075,000.00
2,552,288.15
02/28/07
03/31/07
5.214%
9,188.78
2,075,000.00
2,561,476.93
03/31/07
04/30/07
5.222%
8,906.01
2,075,000.00
2,570,382.94
04/30/07
05/31/07
5.248%
9,248.70
2,075,000.00
2,579,631.64
05/31/07
06/30/07
5.250%
8,953.77
2,075,000.00
2,588,585.41
06/30/07
07/31/07
5.255%
9,261.04
2,075,000.00
2,597,846.45
07/31/07
08/31/07
5.253%
9,257.51
2,075,000.00
2,607,103.96
08/31/07
09/30/07
5.231%
8,921.36
2,075,000.00
2,616,025.32
09/30/07
10/31/07
5.137%
9,053.08
2,075,000.00
2,625,078.41
10/31/07
11/30/07
4.962%
8,462.59
2,075,000.00
2,633,541.00
11/30/07
12/31/07
4.801%
8,460.94
2,075,000.00
2,642,001.94
12/31/07
01/31/08
4.620%
8,141.96
2,075,000.00
2,650,143.90
01/31/08
02/29/08
4.161%
6,859.95
2,075,000.00
2,657,003.85
02/29/08
03/31/08
3.777%
6,656.32
2,075,000.00
2,663,660.16
03/31/08
04/30/08
3.400%
5,798.63
2,075,000.00
2,669,458.79
04/30/08
05/31/08
3.072%
5,413.87
2,075,000.00
2,674,872.67
05/31/08
06/30/08
2.894%
4,935.66
2,075,000.00
2,679,808.32
06/30/08
07/31/08
2.787%
4,911.61
2,075,000.00
2,684,719.93
07/31/08
08/31/08
2.779%
4,897.51
2,075,000.00
2,689,617.44
08/31/08
09/30/08
2.774%
4,731.00
2,075,000.00
2,694,348.44
09/30/08
10/31/08
2.709%
4,774.15
2,075,000.00
2,699,122.59
10/31/08
11/30/08
2.568%
4,379.67
2,075,000.00
2,703,502.26
11/30/08
12/31/08
2.353%
4,146.76
2,075,000.00
2,707,649.02
12/31/08
01/31/09
2.046%
3,605.72
2,075,000.00
2,711,254.75
01/31/09
02/28/09
1.869%
2,975.04
2,075,000.00
2,714,229.79
02/28/09
03/31/09
1.822%
3,210.96
2,075,000.00
2,717,440.75
03/31/09
04/30/09
1.607%
2,740.71
2,075,000.00
2,720,181.46
04/30/09
05/31/09
1.530%
2,696.36
2,075,000.00
2,722,877.82
05/31/09
06/30/09
1.377%
2,348.45
2,075,000.00
2,725,226.26
06/30/09
07/31/09
1.035%
1,824.01
2,075,000.00
2,727,050.27
07/31/09
08/31/09
0.925%
1,630.15
2,075,000.00
2,728,680.43
08/31/09
09/30/09
0.750%
1,279.11
2,075,000.00
2,729,959.54
09/30/09
10/31/09
0.646%
1,138.46
2,075,000.00
2,731,098.00
10/31/09
11/30/09
0.611%
1,042.05
2,075,000.00
2,732,140.05
11/30/09
12/31/09
0.569%
1,002.77
2,075,000.00
2,733,142.82
12/31/09
01/31/10
0.558%
983.38
2,075,000.00
2,734,126.19
01/31/10
02/28/10
0.577%
918.46
2,075,000.00
2,735,044.65
02/28/10
03/31/10
0.547%
963.99
2,075,000.00
2,736,008.65
03/31/10
04/30/10
0.588%
1,002.82
2,075,000.00
2,737,011.47
RACDC\CDC Loan Documents\6-15-00 Loan to GF - LAIF rate 3 of 4
General Fund Loan
6-30-13 Balance
LAIF Historical Interest Rate
Start Date
End Date
Interest
Rate
Interest
Accrued
(Repaid)
Principal Balance
Loan Balance
04/30/10
05/31/10
0.560%
986.90
2,075,000.00
2,737,998.37
05/31/10
06/30/10
0.528%
900.49
2,075,000.00
2,738,898.87
06/30/10
07/31/10
0.531%
935.80
2,075,000.00
2,739,834.66
07/31/10
08/31/10
0.513%
904.07
2,075,000.00
2,740,738.74
08/31/10
09/30/10
0.500%
852.74
2,075,000.00
2,741,591.48
09/30/10
10/31/10
0.480%
845.92
2,075,000.00
2,742,437.39
10/31/10
11/30/10
0.454%
774.29
2,075,000.00
2,743,211.68
11/30/10
12/31/10
0.462%
814.20
2,075,000.00
2,744,025.88
12/31/10
01/31/11
0.538%
948.13
2,075,000.00
2,744,974.01
01/31/11
02/28/11
0.512%
814.99
2,075,000.00
2,745,789.00
02/28/11
03/31/11
0.500%
881.16
2,075,000.00
2,746,670.17
03/31/11
04/30/11
0.588%
1,002.82
2,075,000.00
2,747,672.99
04/30/11
05/31/11
0.413%
727.84
2,075,000.00
2,748,400.83
05/31/11
06/30/11
0.448%
764.05
2,075,000.00
2,749,164.88
06/30/11
07/31/11
0.381%
671.45
2,075,000.00
2,749,836.33
07/31/11
08/31/11
0.408%
719.03
2,075,000.00
2,750,555.36
08/31/11
09/30/11
0.378%
644.67
2,075,000.00
2,751,200.03
09/30/11
10/31/11
0.385%
678.50
2,075,000.00
2,751,878.53
10/31/11
11/30/11
0.401%
683.90
2,075,000.00
2,752,562.43
11/30/11
12/31/11
0.382%
673.21
2,075,000.00
2,753,235.64
12/31/11
01/31/12
0.385%
678.50
2,075,000.00
2,753,914.13
01/31/12
02/29/12
0.389%
641.32
2,075,000.00
2,754,555.45
02/29/12
03/31/12
0.383%
674.97
2,075,000.00
2,755,230.42
03/31/12
04/30/12
0.367%
625.91
2,075,000.00
2,755,856.33
04/30/12
05/31/12
0.363%
639.73
2,075,000.00
2,756,496.06
05/31/12
06/30/12
0.358%
610.56
2,075,000.00
2,757,106.62
06/30/12
07/31/12
0.363%
639.73
2,075,000.00
2,757,746.35
07/31/12
08/31/12
0.377%
664.40
2,075,000.00
2,758,410.74
08/31/12
09/30/12
0.348%
593.51
2,075,000.00
2,759,004.25
09/30/12
10/31/12
0.340%
599.19
2,075,000.00
2,759,603.44
10/31/12
11/30/12
0.324%
552.58
2,075,000.00
2,760,156.02
11/30/12
12/31/12
0.326%
574.52
2,075,000.00
2,760,730.54
12/31/12
01/31/13
0.300%
528.70
2,075,000.00
2,761,259.24
01/31/13
02/28/13
0.286%
455.25
2,075,000.00
2,761,714.48
02/28/13
03/31/13
0.285%
502.26
2,075,000.00
2,762,216.75
03/31/13
04/30/13
0.264%
450.25
2,075,000.00
2,762,667.00
04/30/13
05/31/13
0.245%
431.77
2,075,000.00
2,763,098.77
05/31/13
06/30/13
0.244%
416.14
2,075,000.00
2,763,514.90
Total
$ 688,514.90
$ 2,075,000.00 $
2,763,514.90
R:\CDC\CDC Loan Documents\6-15-00 Loan to GF - LAIF rate 4 of 4