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City of Roseville — 2015 Budget
<br />Debt Management Plan
<br />The City's Debt Policy was affirmed by formal Council action in 2012, and is included in Appendix A.
<br />A major highlight of this policy includes confining the city's borrowing to capital improvements. Those
<br />improvements must have a life that is greater than or equal to the length of debt service.
<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 facilities,
<br />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 five
<br />general obligation debt issues outstanding at the beginning of 2015. They are depicted below.
<br />Principal Net Interest Date of Final Eligible
<br />Descri tion Outstandin Rate Maturi Call Date
<br />Series 27 3,980,000 3.72 % 03/O1/2019 03/O1/2013
<br />Series 28 1,240,000 3.31 % 03/O1/2018 03/O1/2016
<br />Series 29 905,000 5.06 % 03/O1/2025 03/O1/2020
<br />Series 31 9,400,000 2.45 % 03/O1/2028 03/O1/2023
<br />Series 32 15,255,000 2.11 % 03/O1/2028 03/O1/2023
<br />Total $30,780,000
<br />The following tables depict the City's debt service payments by year.
<br />Year Principle Interest Total
<br />2015 $ 2,595,000 $ 817,533 $ 3,412,533
<br />2016 2,660,000 755,933 3,415,933
<br />2017 2,735,000 696,170 3,431,170
<br />2018 2,785,000 638,316 3,423,316
<br />2019 2,510,000 578,740 3,088,740
<br />2020 1,730,000 520,725 2,250,725
<br />2021 1,820,000 462,330 2,282,330
<br />2022 1,850,000 400,531 2,250,531
<br />2023 1,935,000 335,417 2,270,417
<br />2024 1,975,000 272,705 2,247,705
<br />2025 2,045,000 212,795 2,257,795
<br />2026 1,980,000 153,219 2,133,219
<br />2027 2,050,000 94,060 2,144,060
<br />2028 2,110,000 31,844 2,141,844
<br />$ 30,780,000 $ 5,970,318 $ 36,750,318
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