Popular Annual Financial Report - 2017 For fiscal year ending June 30, 2017 | Page 14

BOND ACTIVITY/
LONG-TERM DEBT
The Town of Garner continued construction of the projects approved in the 2013 bond
referendums but did not issue any further general obligation bonds during FY 16-17.
Completed bond projects in FY 16-17 included the new Town
Hall at 900 7th Ave., the Lake Benson Dog Park (in Lake Benson
Park) and sidewalks along Buffaloe Road and along Main Street
and Benson Road.
The Town entered into a $6,229,000 installment loan for
refinancing, for the purchase of a parcel of property and for the
purchase of vehicles and equipment in FY 16-17. Overall, total
debt increased by $1.8 million during the fiscal year.
Debt per capita increased by 4.23 percent to $1,273 in FY 16-17.
The increase was due to the issuance of the installment loan.
LONG-TERM DEBT
FY 16-17
General obligation
bonds
Installment financing
agreements
FY 15-16
$28,345,000 $29,335,000
8,577,324 5,800,674
$36,922,324 $35,135,674
TOTAL
DEBT PER CAPITA
$1,383
$1,221
$1,273
$865
$499
FY 12-13
13
FY 13-14
FY 14-15
FY 15-16
FY 16-17
2017 POPUL AR ANNUAL FINANCIAL REPORT