[cherylncliff]

I'm sure others will reply more knowledgeably than I, but the short answer is that the bond is payed over 30 years at an interest rate of about 6%. The bond payment is made annually with the bills going out in May (I think) with an option to payoff or just make the annual payment. There are lots of discussions in TOTV about whether to pay off right away or payoff over time.