Notes to SEFA
During the year ended June 30, 2021, the Authority issued fully registered bonds of $15,000,000. These bonds were issued to provide funds for the acquisition and improvement of low rent housing properties, debt service funding and other expenses incurred in connection with the issuance of the bonds. Payment of principal and interest on this obligation is made solely from funds received from the Public Housing Capital Fund Program (Assistance Listing No. 14.872). Debt service on the bonds is recorded as an expenditure of federal awards in the accounting period the debt payment is made.