Page 159 - Saginaw FY22 Adopted Annual Budget

CITY OF SAGINAW
GENERAL LONG TERM DEBT REQUIREMENTS FUTURE YEARS

2021-2022

SEPTEMBER 30, PRINCIPAL INTEREST TOTAL

2022 3,160,000 1,577,725 4,737,725
2023 3,010,000 1,480,943 4,490,943
2024 3,080,000 1,410,782 4,490,782
2025 3,180,000 1,336,103 4,516,103
2026 3,145,000 1,259,700 4,404,700
2027 2,890,000 1,173,551 4,063,551
2028 2,595,000 1,088,102 3,683,102
2029 2,670,000 1,005,370 3,675,370
2030 2,760,000 910,188 3,670,188
2031 2,745,000 808,576 3,553,576
2032 2,855,000 708,474 3,563,474
2033 2,945,000 611,149 3,556,149
2034 2,475,000 509,970 2,984,970
2035 2,555,000 428,650 2,983,650
2036 2,140,000 342,850 2,482,850
2037 2,205,000 271,550 2,476,550
2038 1,750,000 198,000 1,948,000
2039 1,815,000 137,700 1,952,700
2040 1,870,000 75,000 1,945,000
2041 515,000 10,300 525,300
TOTALS $ 50,360,000 $ 15,344,684 $ 65,704,684

The debt of the General Fund reflects a twenty-year payout with interest costs primarily
carried in the first half of the overall life of the debt. The major decline in debt service is
evident and reflects a point where a major issue is retired. The retirement may be looked
upon as an opportunity to issue new debt for the continuing infrastructure and capital needs
of the community while at the same time having little or no impact on the total tax rate.

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