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The Certificates <br /> <br /> The following schedule shows the yearly principal and interest components of the Base Rentals <br />payable by the City under the Lease with respect to the Certificates, assuming an average annual interest rate <br />of %: <br /> <br /> Base Rentals Reauired For Payment of the Certificates <br /> <br />Fiscal Year Principal Interest <br />Ending June 30 Comoonent Comoonent <br /> <br />1997 <br />1998 <br />1999 <br />2000 <br />2001 <br />2002 <br />2003 <br />2004 <br />2005 <br />2006 <br />2007 <br />2008 <br />2009 <br />2010 <br />2011 <br />2012 <br />2013 <br />2014 <br />2015 <br />2016 <br />2017 <br /> <br />$ $ <br /> <br /> Total <br /> <br />$ <br /> <br />TOTAL $ <br /> <br />$ $ <br /> <br />Other Obligations <br /> <br />The City has the following notes payable: <br /> <br /> 1. A bank note of the Olive Central TIF District in the original principal amount of <br />$190,000, with an outstanding balance of $ as of January 1, 1997. The note is to be repaid <br />in eight equal annual installments of $35,614, including principal and interest at 10%, with the note <br />maturing on April 30, 1999. The note is to be repaid from payments in lieu of taxes received by the <br />TIF District. <br /> <br /> 2. A note and agreement of the Olive Central TIF District with a financial institution <br />whereby the TIF District would receive a total of $412,500 in two installments. The TIF District <br />received the first installment of $200,000 in January 1992 with the balance to be received in the <br />future. The outstanding balance of the note was $ as of January 1, 1997. The note proceeds <br />are designated for the purpose of property within the TIF District, and the note is required to be repaid <br />from payments in lieu of taxes received by the TIF District. The initial note is to be repaid in 16 equal <br /> <br />-28- <br /> <br /> <br />