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DEBT SERVICE
<br /> The Lease requires City to make Base Rental payments on January 1 and July 1 of each year, beginning
<br /> on January 1, 1995, and continuing until the end of the term of the Lease. Each Base Rental payment shall be
<br /> payable by wire transfer on the last Business Day immediately preceding its due date. The interest components
<br /> of the Base Rental payable by the City under the Lease shall be paid by the City as, and shall constitute interest
<br /> paid on the principal components of the Base Rental payable by the City under the Lease. Base Rental
<br /> payments have been calculated to be at least sufficient to meet debt service on the Bonds due on each Interest
<br /> • Payment Date.
<br /> The following is a schedule of debt service on the Bonds for each year until maturity:
<br /> Period
<br /> Ending Total Accreted
<br /> July 1 Principal Value Interest Total
<br /> 1995 $ -0- $ -0- $8,429,209 $8,429,209
<br /> 1996 -0- -0- 6,377,778 6,377,778
<br /> 1997 -0- -0- 6,377,778 6,377,778
<br /> 1998 -0- -0- 6,377,778 6,377,778
<br /> 1999 -0- -0- 6,377,778 6,377,778
<br /> 2000 -0- -0- 6,377,778 6,377,778
<br /> 2001 -0- 270,000 6,377,778 6,647,778
<br /> 2002 -0- 770,000 6,377,778 7,147,778
<br /> 2003 -0- 1,285,000 6,377,778 7,662,778
<br /> 2004 1,820,000 -0- 6,377,778 8,197,778
<br /> 2005 2,465,000 -0- 6,282,228 8,747,228
<br /> 2006 3,075,000 -0- 6,151,583 9,226,583
<br /> 2007 3,240,000 -0- 5,985,533 9,225,533
<br /> 2008 3,420,000 -0- 5,807,333 9,227,333
<br /> 2009 3,610,000 -0- 5,615,813 9,225,813
<br /> 2010 3,800,000 -0- 5,412,750 9,212,750
<br /> 2011 4,000,000 -0- 5,194,250 9,194,250
<br /> 2012 4,200,000 -0- 4,964,250 9,164,250
<br /> 2013 4,500,000 -0- 4,722,750 9,222,750
<br /> 2014 4,700,000 -0- 4,464,000 9,164,000
<br /> 2015 5,030,000 -0- 4,193,750 9,223,750
<br /> 2016 5,345,000 -0- 3,879,375 9,224,375
<br /> 2017 5,680,000 -0- 3,545,313 9,225,313
<br /> 2018 6,035,000 -0- 3,190,313 9,225,313
<br /> 2019 6,410,000 -0- 2,813,125 9,223,125
<br /> 2020 6,815,000 -0- 2,412,500 9,227,500
<br /> 2021 7,240,000 -0- 1,986,563 9,226,563
<br /> • 2022 7,690,000 -0- 1,534,063 9,224,063
<br /> 2023 8,170,000 -0- 1,053,438 9,223,438
<br /> 2024 8,685,000 -0- 542,813 9,227,813
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