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CITY OF SOUTH BEND, INDIANA
<br />NOTES TOGENERAL-PURPOSE FINANCIAL STATEMENTS
<br />Continued}
<br />Loans Payable
<br />The City has received loans from the Federal Government under Section 108 of the Housing and
<br />Community Development Act of 1974 for the Block Grant Pragram. The City pledged as security for
<br />repayment: ~a}All block grants approved for the City, and ~b}Program income received from sale or
<br />lease of real property purchased ar rehabilitated with loan funds. Also, the City pledged Tax Incre-
<br />mental Financing revenues generated in the downtown area and County Economic Developmen#
<br />Income Tax revenues towards the $1,800,000 loan received for downtown acquisitionlrelocation
<br />project. During 2001, the City received an Indiana Development Finance Authority loan to finance
<br />remediation of environmental conditions at a local industry. As of December 31, 2001, the unpaid
<br />balance due on these loans payable from governmental funds was $3,040,400.
<br />The City's Century Center, a proprietary fund, received a loan for renovations. The principal balance
<br />on this loan at December 31, 2001 was $142,400. This loan agreement does not include provisions
<br />for interest. The City's Water Utility and Wastewater Utility each are receiving loans from the Indiana
<br />State Revolving Loan Fund to finance improvements at the utilities. The approved amounts of #hese
<br />loans are $2,600,044 and $24,095,000. As of December 31, 2001, the unpaid balance due on these
<br />loans payable from proprietary funds was $22,411,951.
<br />If the total approved amounts of the loans are received, annual debt service requirements to maturity
<br />for these loans payable from governmental funds and from proprietary funds, including interest of
<br />$95fi,474 and $6,176,745, respectively will be as follows;
<br /> Governmental Proprietary
<br /> Funds
<br />. Funds
<br />,
<br />
<br />2402 $ 366, 985 $ 1, 828,949
<br />2443 37fi,590 1, 894, 577
<br />2404 365,590 1,949,442
<br />2005 354,434 1,981,624
<br />2406 307, 550 1, 919, 788
<br />Thereafter 2,224,925 23,439,365
<br />Totals
<br />Changes,in Long-Term Debt
<br />$ 3,996,470 $ 33,013,745
<br />During the year ended December 31, 2001, the following changes occurred in Fong-term debt pay-
<br />able from proprietary funds;
<br />33
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