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City of Roseville — 2014 Budget
<br />Debt Management Plan
<br />By formal Council action, the City of Roseville affirmed its debt policy in 2012. 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 the
<br />city's street improvement program. Facility debt accounts for the debt service on City Campus
<br />facilities, as well as a park renewal program and the Housing debt accounts for debt issued to finance a
<br />public /private partnership with a local townhome association's improvements. The city will have six
<br />general obligation debt issues outstanding at the beginning of 2014. They are depicted below.
<br />Description
<br />Principal
<br />Outstanding
<br />Net Interest
<br />Rate
<br />Date of Final
<br />Maturity
<br />Eligible
<br />Call Date
<br />Series 25
<br />22500
<br />4.24%
<br />03/01/2014
<br />Bi- annually
<br />Series 27
<br />3,98000
<br />3.72%
<br />03/01/2019
<br />03/01/2013
<br />Series 28
<br />1,525,000
<br />3.31 %
<br />03/01/2018
<br />03/01/2016
<br />Series 29
<br />97000
<br />5.06%
<br />03/01/2025
<br />03/01/2020
<br />Series 31
<br />10,000,000
<br />2.45%
<br />03/01/2028
<br />03/01/2023
<br />Series 32
<br />150500
<br />2.11%
<br />03/01/2028
<br />03/01/2023
<br />2,270,417
<br />2024
<br />1,975,000
<br />272,705
<br />2,247,705
<br />Total
<br />$ 32,3 85,000
<br />212,795
<br />2,257,795
<br />2026
<br />The following tables depict the City's debt service payments by year.
<br />Year Principle Interest Total
<br />2014 $ 10500 $ 896,916 $ 2,501,916
<br />2015
<br />2,59500
<br />817,533
<br />3,412,533
<br />2016
<br />20000
<br />755,933
<br />3,415,933
<br />2017
<br />2,73500
<br />696,170
<br />3,431,170
<br />2018
<br />2,78500
<br />638,316
<br />3,423,316
<br />2019
<br />2,510,000
<br />578,740
<br />3,088,740
<br />2020
<br />1,730,000
<br />520,725
<br />2,250,725
<br />2021
<br />1,820,000
<br />462,330
<br />2,282,330
<br />2022
<br />1,850,000
<br />400,531
<br />2,250,531
<br />2023
<br />L93500
<br />335,417
<br />2,270,417
<br />2024
<br />1,975,000
<br />272,705
<br />2,247,705
<br />2025
<br />2,04500
<br />212,795
<br />2,257,795
<br />2026
<br />1,980,000
<br />153,219
<br />2,133,219
<br />2027
<br />2,05000
<br />94,060
<br />2,144,060
<br />2028
<br />2,110,000
<br />31,844
<br />2,141,844
<br />$ 32,38500 $ 6,867,234 $ 39,252,234
<br />W
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