b'City of Dover Tuscarawas County, Ohio Notes to the Basic Financial Statements For the Year Ended December 31, 2019 Note 23Subsequent EventsCOVID-19 PandemicThe United States and the State of Ohio declared a state of emergency in March of 2020 due to the COVID-19pandemic.ThefinancialimpactofCOVID-19andtheensuingemergencymeasureswillimpact subsequent periods of the City. The Citys investment portfolio and the investments of the pension and other employee benefit plans in which the City participates fluctuate with market conditions, and due to market volatility, the amount of gains or losses that will be recognized in subsequent periods, if any, cannot be determined. In addition, the impact on the Citys future operating costs, revenues, and any recovery from emergency funding, either federal or state, cannot be estimated.Early Repayment of DebtOn January 9, 2020, the City paid off the remainder of the OPWC loans and the municipal electric system improvement bonds.On March 19, 2020, the City also paid off the remainder of the AMPGS payable.Principal payments for the OPWC loans totaling $40,688 werepaid from themaster capital fund.The payment for the early retirement of the municipal electric system improvement bonds included $465,000 principal and $425 for accrued interest and termination charges, paid from the electric fund.The electric fund also paid $465,620 for the remaining balance of the AMPGS payable.The early repayment of the electric debt will save the City more than $7,573 in debt service costs. - 78 78 -'