Page 156 - Saginaw FY22 Adopted Annual Budget
P. 156
CITY OF SAGINAW
SUMMARY OF DEBT SERVICE EXPENDITURES
2021-2022
BUDGET BUDGET
ACCOUNT DESCRIPTION 2020-2021 2021-2022
Bond Principal Payment $ 2,315,000 $ 2,935,000
Principal Payment - Tax Note 410,000 225,000
Bond Interest Payment 1,383,210 1,563,060
Interest Payment - Tax Note 19,110 14,665
Paying Agent Fees 6,000 6,000
Arbitrage Expense 7,000 10,000
Debt Issuance Cost - -
Other Financing Uses - -
TOTALS $ 4,140,320 $ 4,753,725
(1) This represents the scheduled bond principal payment for the fiscal year.
Outstanding principal balance at 9-30-22 $47,200,000
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