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City of Roseville — 2012 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 six general obligation debt issues
<br />outstanding at the beginning of 2012. They are depicted below.
<br />Description
<br />Series 23
<br />Principal
<br />Outstanding
<br />$ 24000
<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 />65000
<br />4.24%
<br />03/01/2014
<br />Bi- annually
<br />Series 27
<br />60000
<br />3.72%
<br />03/01/2019
<br />03/01/2013
<br />Series 28
<br />2,07000
<br />3.31 %
<br />03/01/2018
<br />03/01/2016
<br />Series 29
<br />1,095,000
<br />5.06%
<br />03/01/2025
<br />03/01/2020
<br />Series 31
<br />10000
<br />2.45%
<br />03/01/2028
<br />03/01/2023
<br />217,057
<br />1,812,057
<br />2020
<br />72000
<br />184,545
<br />Total
<br />$ 20,135,000
<br />74000
<br />168,580
<br />908,580
<br />The following tables depict the City's debt service payments by year.
<br />Year
<br />2012
<br />..
<br />$ 1,435,000
<br />Interest
<br />$ 356,656
<br />.
<br />$1,791,656
<br />2013
<br />1,230,000
<br />56605
<br />1,796,805
<br />,2014
<br />1,880,000
<br />472,615
<br />2,352,615
<br />2015
<br />1,700,000
<br />424,830
<br />2,124,830
<br />2016
<br />1,750,000
<br />376,937
<br />2,126,937
<br />2017
<br />1,810,000
<br />325,653
<br />2,135,653
<br />2018
<br />1,870,000
<br />27003
<br />2,140,603
<br />2019
<br />1,595,000
<br />217,057
<br />1,812,057
<br />2020
<br />72000
<br />184,545
<br />904,545
<br />2021
<br />74000
<br />168,580
<br />908,580
<br />2022
<br />75500
<br />15000
<br />90500
<br />2023
<br />78000
<br />131,495
<br />911,495
<br />2024
<br />79000
<br />110,467
<br />900,467
<br />2025
<br />82000
<br />87,493
<br />907,493
<br />2026
<br />73000
<br />6506
<br />79506
<br />2027
<br />75500
<br />45,533
<br />800,533
<br />2028
<br />77500
<br />23,63 8
<br />798,63 8
<br />Total
<br />$ 20,13500
<br />$ 3,979,392
<br />$ 24,114,392
<br />77
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