Delaware County, Indiana
Notes to Financial Statements
December 31, 2025
Loans Payable
The County has pledged future economic development income tax revenues to repay Certificates of Participation issued in 2019. Proceeds from the certificates provided financing for the construction, acquisition, renovation, installation and equipping the County's Jail project. The certificates are payable from the County's distributive share of the economic development income tax, including the distributive shares from Albany, Daleville, Eaton, Selma and Yorktown and are payable through 2038. The total principal and interest remaining to be paid on the certificates is $44,698,654. Principal and interest paid for the current year was $3,289,755.
Details of the loan payable at December 31, 2025 is as follows:
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|
Governmental Activities Loans Payable |
Date of Issue |
Final Maturity |
Interest Rates |
Original Indebtedness |
Balance December 31, 2025 |
|---|---|---|---|---|---|
| Certificates of Participation | 04/16/2019 | 12/15/2038 | 3.54% | $44,455,000 | $35,365,000 |
| Total governmental activities loans payable | $35,365,000 | ||||
Debt service requirements to maturity are as follows:
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| Years |
Governmental Activities Loans Payable |
|
|---|---|---|
| Principal | Interest | |
| 2026 | $2,050,000 | $1,233,955 |
| 2027 | 2,125,000 | 1,160,677 |
| 2028 | 2,205,000 | 1,084,833 |
| 2029 | 2,285,000 | 1,005,979 |
| 2030 | 2,370,000 | 924,383 |
| 2031-2035 | 13,950,000 | 3,271,491 |
| 2036-2038 | 10,380,000 | 652,336 |
| Total | $35,365,000 | $9,333,654 |
Lease Disclosures
Lessee - Lease Liabilities
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|
Governmental Activities Lease Liabilities Description |
Date of Issue |
Final Maturity |
Interest Rates |
Original Indebtedness |
Balance December 31, 2025 |
|---|---|---|---|---|---|
| LEAP Office Equipment | 09/04/25 | 09/04/31 | 3.00% | $508,395 | $475,407 |
| Total governmental activities, lease liabilities | $475,407 | ||||