Page 182 - GFOA Draft 2

CITY OF SAGINAW
GENERAL LONG TERM DEBT REQUIREMENTS FUTURE YEARS
2022-2023

SEPTEMBER 30, PRINCIPAL INTEREST TOTAL

2023 3,425,000 2,810,005 6,235,005
2024 3,480,000 2,453,282 5,933,282
2025 3,580,000 2,358,603 5,938,603
2026 3,545,000 2,262,200 5,807,200
2027 3,290,000 2,162,051 5,450,051
2028 3,595,000 2,054,602 5,649,602
2029 3,670,000 1,921,870 5,591,870
2030 3,800,000 1,776,688 5,576,688
2031 3,840,000 1,623,076 5,463,076
2032 4,000,000 1,468,224 5,468,224
2033 4,150,000 1,313,649 5,463,649
2034 3,740,000 1,152,220 4,892,220
2035 3,885,000 1,007,650 4,892,650
2036 3,535,000 855,350 4,390,350
2037 3,670,000 714,300 4,384,300
2038 3,275,000 582,150 3,857,150
2039 3,400,000 460,850 3,860,850
2040 3,520,000 334,750 3,854,750
2041 2,245,000 187,550 2,432,550
2042 1,815,000 90,750 1,905,750
TOTALS $ 69,460,000 $ 27,587,821 $ 97,047,821

The debt of the General Fund re ects a twenty-year payout with interest costs primarily carried in the rst half of the
overall life of the debt. The major decline in debt service is evident and re ects 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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