Laserfiche WebLink
Debt Management <br />The City of Roseville has implemented a debt policy that is detailed within the policy section of <br />this document. A major highlight of this policy includes confining the city's borrowing to <br />capital improvements. Those improvements must have a life that is greater than or equal to the <br />length of debt retirement. The following information details the current debt position of the City <br />and provides for various summaries related to debt service. <br />Debt Service Summary <br />The city has issued only two types of debt, both of which are general obligations of the city: <br />public improvement debt and tax increment debt. Public improvement debt is issued for the <br />financing of the city's street improvement program. The debt service is supported by <br />approximately 25% special assessment of benefited properties and 75% from general taxes. <br />Tax increment debt is issued to finance the economic and recreational projects within the <br />community. The debt service for these issues are paid from tax increments received on new <br />development. The general obligation of the city is only required if the tax increments are <br />insufficient to cover the annual debt service. <br />The city will have seven general obligation improvement debt issues and one general obligation <br />tax increment debt issues outstanding in the beginning of 2002 and seven general obligation <br />improvement issues and no tax increment issue outstanding as of December 31, 2002. One <br />outstanding issue has been set to be called on its call date of March 1, 2002. <br />Summary data regarding the 2002 debt service payments are detailed below. <br />General Obligation <br />Public Improvement Bonds <br />Series 1994 <br />Series 1993 <br />Series 19 <br />Series 20 <br />Series 22 <br />Series 23 <br />Series 25 <br />Subtotal <br />Tax Increment Bonds <br />Series 1998 <br />Subtotal <br />Grand Total <br />Schedule of Debt Payments for 2002 <br />Principal Payments <br />1,050,000 <br />260,000 <br />155,000 <br />185,000 <br />125,000 <br />155,000 <br />130,000 <br />Interest Payments <br />118,310 <br />6,500 <br />21,129 <br />411315 <br />75,776 <br />103,809 <br />89,385 <br />Total Comments <br />1,168,310 <br />266,500 <br />176,129 <br />2261315 <br />200,776 <br />258,809 Called in 2002 <br />2191385 <br />210601000 <br />4561224 <br />215161224 <br />118151000 <br />3661395 <br />2,181, 395 Defeased in 2001 <br />118151000 <br />3661395 <br />211811395 <br />318751000 <br />8221619 <br />416971619 <br />III -49 <br />