Page 145 - Saginaw FY21 Annual Budget
P. 145
CITY OF SAGINAW
SUMMARY OF DEBT SERVICE EXPENDITURES
2020-2021
BUDGET BUDGET
ACCOUNT DESCRIPTION 2019-2020 2020-2021
Bond Principal Payment $ 2,585,000 $ 2,315,000 (1)
Principal Payment - Tax Note 430,000 410,000
Bond Interest Payment 830,045 1,383,210
Interest Payment - Tax Note 23,750 19,110
Paying Agent Fees 6,000 6,000
Arbitrage Expense - 7,000
Debt Issuance Cost 114,085 -
Other Financing Uses 2,924,415 -
TOTALS $ 6,913,295 $ 4,140,320
(1) This represents the scheduled bond principal payment for the fiscal year.
Outstanding principal balance at 9-30-20 $41,925,000
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