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CITY OF EUGENE, OREGON <br />Notes to Basic Financial Statements <br />(4) Detailed Notes on All Funds, continued <br />(I) Noncurrent Liabilities, continued <br />Certificates of Participation <br />The City issues certificates of participation (COPs) to finance major construction projects in governmental <br />activities. The Library Obligations are backed by the full faith and credit of the City, although the debt <br />payments are serviced from Urban Renewal Agency tax increment revenues under an intergovernmental <br />agreement. Pursuant to the intergovernmental agreement between the City and the Urban Renewal Agency, <br />the tax increment revenues provided by the Urban Renewal Agency are recorded as a transfer into the Library <br />Debt Service Fund. The Atrium Obligations are also backed by the full faith and credit of the City, although the <br />debt payments are to be paid from rental payments made by property occupants, including City departments. <br />The Santa Clara Fire Obligations are also backed by the full faith and credit of the City and the debt payments <br />are made by the General Fund. <br /> Original Ending <br />Governmental activities issuance Interest rates (%) balance <br />Certificates of participation serviced <br />by tax increment revenues: <br />Library Obligations, Series 2000 $ 18,500,000 5.000% 4,550,000 <br />Certificates of participation serviced <br />by general property taxes: <br />Santa Clara Fire Station, Series 2003 2,090,000 2.750% to 4.000% 1,275,000 <br />Certificates of participation serviced <br />by specific fund revenues: <br />Atrium Obligations, Series 1998A (tax-exempt) 1,200,000 4.400% to 4.900% 750,000 <br />Atrium Obligations, Series 19988 (taxable) 1,200,000 6:200% to 6.200% 790,000 <br />Total certificates of participation $ 22,990,000 7,365,000 <br />Annual debt service requirements to maturity for certificates of participation are as follows: <br /> Governmental activities <br />Fiscal year <br />ending June 30 Princi al Interest <br />2009 $ 2,525,000 300,823 <br />2010 2,680,000 175,247 <br />2011 340,000 103,463 <br />2012 355,000 89,230 <br />2013 360,000 73,823 <br />2014-2018 1,105,000 163;220 <br />$ 7,365,000 905,806 <br />continued <br />62 <br />