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City of Roseville — 2009 Budget <br />Debt Management Plan <br />By formal Council action, the City of Roseville affirmed its debt policy in 2008. The policy can be <br />found in Appendix A. A major highlight of this policy includes confining the city's borrowing to capital <br />improvements. Those improvements must have a life that is greater than or equal to the length of debt <br />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% from the special assessment of benefited properties <br />and 75% from property taxes. The city will have four general obligation debt issues outstanding at the <br />beginning of 2009. The following schedule depicts the City's outstanding debt as of 01/01/2009. <br />Description <br />Series 23 <br />Principal <br />Outstanding <br />$905,000 <br />Net Interest <br />Rate <br />4.90% <br />Date of Final <br />Maturity <br />03/01/2012 <br />Eligible <br />Call Date <br />3/01/2004 <br />Series 25 <br />192259000 <br />4.24% <br />03/01/2014 <br />3/01/2006 <br />Series 27 <br />798909000 <br />3.72% <br />3/01/2019 <br />3/01/2013 <br />Series 28 <br />295509000 <br />3.31 % <br />3/01/2018 <br />3/01/2016 <br />2014 <br />192209000 <br />2259135 <br />194459135 <br />2015 <br />Total <br />$ 1295709000 <br />192189006 <br />2016 <br />190759000 <br />The following table depicts the City's debt service payments by year. <br />Year <br />2009 <br />p. <br />$9859000 <br />Interest <br />$ <br />• . <br />$ 194249127 <br />2010 <br />192209000 <br />4079226 <br />196279226 <br />2011 <br />193209000 <br />3649339 <br />196849339 <br />2012 <br />193709000 <br />3169894 <br />196869894 <br />2013 <br />191709000 <br />2709323 <br />194409323 <br />2014 <br />192209000 <br />2259135 <br />194459135 <br />2015 <br />190359000 <br />1839006 <br />192189006 <br />2016 <br />190759000 <br />1449033 <br />192199033 <br />2017 <br />191209000 <br />1029896 <br />1,222, 896 <br />2018 <br />191709000 <br />599175 <br />192299175 <br />2019 <br />8859000 <br />189253 <br />9039253 <br />Total <br />$ 1295709000 <br />$295309406 <br />$ 1591009406 <br />76 <br />