2001 Approved Budget - Laserfiche WebLink

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Debt Management I The City of Roseville has implemented a debt policy that is detailed within the policy section of this document. A major highlight of this policy includes confining the city’s borrowing to capital improvements. Those improvements must have a life that is greater than or equal to the length of debt retirement. The following information details the current debt position of the City and provides for various summaries related to debt service. Debt Service Summary The city has issued only two types of debt, both of which are general obligations of the city: public improvement debt and tax increment debt. Public improvement debt is issued for the financing of the city’s street improvement program. The debt service is supported by approximately 25% special assessment of benefited properties and 75% from general taxes. Tax increment debt is issued to finance the economic and recreational projects within the community. The debt service for these issues are paid from tax increments received on new development. The general obligation of the city is only required if the tax increments are insufficient to cover the annual debt service. The city will have nine general obligation improvement debt issues and two general obligation tax increment debt issues outstanding in the beginning of 2001 and seven general obligation improvement issues and one tax increment issue outstanding as of December 3 Three outstanding issues have been set to be called on their call dates of March Summary data regarding the 2001 debt service payments and calls are detailed below. General Obliaation Public Bonds Principal Pavments Interest PavmentsTotalComments 160,509 Series 1994995,000 475,00013,565488,585Calledin2001 Series 18 250,000269,063 Series 199319,063 150,00028,643178,643 Series 19 48,845228,845 Series 20180,000 49,226Calledin 2001 Series 21 120,00081,290201,290 Series 22 145,000110,225255,225 Series 23 120,00093,670213,670 Series 25 605,054 Subtotal Tax Increment Bonds Series 1998437,595 128,024Calledin2001 Series 1995 565,619 Subtotal Grand Total III-50