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City of Roseville — 2005 Budget
<br />Debt Management Plan
<br />The City of Roseville revised its debt policy in 1998. A major highlight of this policy includes
<br />confining the city's borrowing to capital improvements. Those improvements must have a life that is
<br />greater than or equal to the length of debt retirement.
<br />The City currently has two types of debt; 1) general obligation improvement debt, and 2) general
<br />obligation facility debt. Improvement debt is used for financing the city's street improvement program.
<br />The debt service is supported by approximately 25% special assessment of benefited properties and 75%
<br />from general taxes. The city will have five general obligation debt issues outstanding in the beginning
<br />of 2005. The following schedule depicts the City's outstanding debt as of 01/01/2005.
<br />Description
<br />Series 1994
<br />Principle
<br />Outstanding
<br />$ 44500
<br />Net Interest
<br />Rate
<br />4.21%
<br />Date of Final
<br />Maturity
<br />03/01/2006
<br />Eligible
<br />Call Date
<br />3/01/2001
<br />Series 20
<br />44000
<br />4.55%
<br />03/01/2009
<br />3/01/2001
<br />Series 23
<br />1,715,000
<br />4.90%
<br />03/01/2012
<br />3/01/2004
<br />Series 25
<br />1,865,000
<br />4.24%
<br />03/01/2014
<br />3/01/2006
<br />Series 27
<br />9,700,000
<br />3.72%
<br />3/01/2019
<br />3/01/2013
<br />1,070,000
<br />298,955
<br />1,368,955
<br />2012
<br />1,115,000
<br />Total
<br />$ 14,16500
<br />2013
<br />89500
<br />215,364
<br />The following table depicts the City's debt service payments by year.
<br />Year
<br />2005
<br />,-
<br />1,030,000
<br />Interest
<br />594,489
<br />Total
<br />1,624,489
<br />2006
<br />1,225,000
<br />480,928
<br />1,705,928
<br />2007
<br />90500
<br />443,412
<br />1,348,412
<br />2008
<br />94000
<br />411,678
<br />L351fi78
<br />2009
<br />98000
<br />377,484
<br />1,357,484
<br />2010
<br />1,025,000
<br />339,993
<br />1,364,993
<br />2011
<br />1,070,000
<br />298,955
<br />1,368,955
<br />2012
<br />1,115,000
<br />254,176
<br />L369J76
<br />2013
<br />89500
<br />215,364
<br />1,110,364
<br />2014
<br />93500
<br />177,490
<br />1,112,490
<br />2015
<br />74000
<br />145,221
<br />885,221
<br />2016
<br />77000
<br />116,524
<br />886,524
<br />2017
<br />80500
<br />8604
<br />891,004
<br />2018
<br />84500
<br />53,406
<br />898,406
<br />2019
<br />88500
<br />18,253
<br />903,253
<br />Total
<br />$ 14,16500
<br />$ 3,940,987
<br />$ 18,105,987
<br />73
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