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Debt Service Information

The three General Obligation Economic Development Incentive Bonds were issued to fund incentives for commercial development. The obligations funded include incentives for Bass Pro, Prattville Town Center, High Point, the conference facilities at The Legends and the infrastructure improvements necessary to support these improvements. Please click the link to see amortization schedules for each of these three bond issues.

pdf Economic Development

The City also has general obligation debts for various capital improvements and general governmental purposes. Some of these include: the 2009 General Obligation Refunding Bonds were used to refund the 2001 and 2002 General Obligation Warrants (this was a refunding, the City did not borrow any additional funds or extend the term of the bonds, rather the City used it’s A credit rating to reduce the interest paid on the warrants); the 2009A Chevron General Obligation Bond was used to fund a citywide energy efficiency project (this project must be paid for from energy savings); the 1996 and 2006 SRF, or State Revolving Fund, loans were used for Sewer improvements; funds from the loan titled Banktrust Roofing Project were utilized to reroof city hall; the proceeds of the Fire Training Facility loan were used to pay for the construction of the fire training facility, and; the AMfund loan and Pumper Truck Loan were used to purchase fire trucks (due to their extended useful life, the fire trucks were financed through a loan rather than a lease purchase). Please click the links for an amortization schedule of each capital improvement general obligation.

pdf General Obligation

The equipment leases were utilized to purchase capital equipment. Though the City does not file a tax return, there is a financial benefit to the City to acquire certain types of equipment through lease purchases. These lease purchases typically amortize over three to five years. Please click the links to see amortization schedules for the City’s lease purchases.

pdf Leases

The link below provides the annual total principal balance, total principal payment and total interest payment by category, as well as the aggregate total for all of the City’s outstanding debt.

pdf Totals



Character Trait for August

IACC Eagle LogoPunctuality
Showing esteem for others by doing the right thing at the right time.

Click the trait to see this month's Character newsletter (and a list of previous editions). For a list of all traits, or to view past newsletters, please visit the Prattville-Autauga Character Coalition website. To subscribe, please use our E-newsletter subscriber feature and be sure to "check" Character Coalition when completing the brief form.

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