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City of Roseville — 2010 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 three types of debt; 1) general obligation improvement debt, 2) general obligation <br />facility debt, and 3) General Obligation Taxable Housing debt. Improvement debt is used for financing <br />the city's street improvement program. Facility debt accounts for the debt service on City Campus <br />facilities, and the Housing debt accounts for debt issued to finance a public /private partnership with a <br />local townhome association's improvements. The city will have five general obligation debt issues <br />outstanding at the beginning of 2010. The following schedule depicts the City's outstanding debt as of <br />01/01/2010. <br />Description <br />Series 23 <br />Principal <br />Outstanding <br />$6809000 <br />Net Interest <br />Rate <br />4.90 % <br />Date of Final <br />Maturity <br />03/01/2012 <br />Eligible <br />Call Date <br />Bi- annually <br />Series 25 <br />190709000 <br />4.24% <br />03/01/2014 <br />Bi- annually <br />Series 27 <br />793109000 <br />3.72% <br />3/01/2019 <br />3/01/2013 <br />Series 28 <br />295509000 <br />3.31 % <br />3/01/2018 <br />3/01/2016 <br />Series 29 <br />191559000 <br />5.06%- <br />3/01/2025 <br />3/01/2020 <br />191459000 <br />1859158 <br />193309158 <br />2017 <br />191909000 <br />Total <br />$ 1297659000 <br />2018 <br />192459000 <br />949144 <br />The following table depicts the City's debt service payments by year. <br />Year <br />2010 <br />p. <br />$ 192459000 <br />Interest <br />$4469911 <br />• . <br />$ 196919911 <br />2011 <br />193859000 <br />4009936 <br />197859936 <br />2012 <br />194359000 <br />3569656 <br />197919656 <br />2013 <br />192309000 <br />3129830 <br />195429830 <br />2014 <br />192809000 <br />2699435 <br />195499435 <br />2015 <br />191009000 <br />2269750 <br />193269750 <br />2016 <br />191459000 <br />1859158 <br />193309158 <br />2017 <br />191909000 <br />1419134 <br />193319134 <br />2018 <br />192459000 <br />949144 <br />193399144 <br />2019 <br />9609000 <br />499659 <br />190099659 <br />2020 <br />809000 <br />279625 <br />1079625 <br />2021 <br />859000 <br />239500 <br />1089500 <br />2022 <br />909000 <br />189900 <br />1089900 <br />2023 <br />959000 <br />139813 <br />1089813 <br />2024 <br />959000 <br />89540 <br />1039540 <br />2025 <br />1059000 <br />29940 <br />1079940 <br />Total <br />$ 1297659000 <br />$295789931 <br />$ 1593439931 <br />76 <br />