General Obligation Bonds

Municipal Debt General Obligation Bonds for Fiscal Year 2015
The Village uses its bonding authority very judiciously, relying on specific revenue streams to service the outstanding debt. For example, water system improvements were undertaken to allow the sale of water to new customers. The revenue from the new customers is used to service the debt. Similarly, with TIF redevelopment bonds, the incremental taxes from redevelopment services the debt. Total outstanding general obligation debt at April 30, 2015 is $12,420,000, detailed as listed below.

Water Fund


Issue Date Expiration Date Description Int. Rate Opening Principal Balance Ending Principal Balance
2011 2019 Refunding series 2004 bonds Variable $1,603,250.00 $1,179,750.00
2014 2034 General Obligation Bonds Variable $0.00 $3,965,000.00
Fund total $1,603,250.00 $5,144,750.00


Milwaukee / Touhy TIF Fund


Issue Date Expiration Date Description Int. Rate Opening Principal Balance Ending Principal Balance
2011 2019 Refunding 2004 series Variable $655,875.00 $482,625.00
2013 2018 Refunding 2005 series 1.30 $3,780.000.00 $3,050,000.00
Fund total $4,435,875.00 $3,532,625.00

Debt Service Fund


Issue Date Expiration Date Description Int. Rate Opening Principal Balance Ending Principal Balance
2011 2019 Refunded series 2004 Variable $655,875.00 $482,625.00

Capital Projects Fund


Issue Date Expiration Date Description Int. Rate Opening Principal Balance Ending Principal Balance
2010 2017 Refunded Series 2002 Variable $990,000.00 $695,000.00
2010 2018 Refunded Series 2003 Variable $3,165,000.00 $2,565,000.00
Fund total $4,155,000.00 $3,260,000.00
Grand total $10,850,000.00 $12,420,000.00