Page 186 - CityofSaginawFY25Budget

CITY OF SAGINAW
GENERAL LONG TERM DEBT SERVICE REQUIREMENTS
2024-2025

DISBURSEMENT AMOUNT DISBURSEMENT AMOUNT

2020 General Obligation Refunding Bonds 2016 General Obligation Refunding Bonds
Principal $ 115,000 Principal $ 465,000
Interest 7,826 Interest 22,224
Total $ 122,826 Total $ 487,224

2013 General Obligation & Refunding Bonds 2017 General Obligation Bonds
Principal $ 395,000 Principal $ 360,000
Interest 171,206 Interest 168,750
Total $ 566,206 Total $ 528,750

2019 Tax Note
Principal 235,000
Interest 5,005
Total $ 240,005

2015 General Obligation Bonds 2019 General Obligation Refunding Bonds
Principal $ 370,000 Principal 110,000
Interest 138,900 Interest 1,793
Total $ 508,900 Total $ 111,793
2020 Certificates of Obligation 2021 General Obligation Bonds
Principal $ 800,000 Principal 330,000
Interest 626,200 Interest 194,200
Total $ 1,426,200 Total $ 524,200

2022 General Obligation Bonds 2023 General Obligation Bonds
Principal $ 400,000 Principal 300,000
Interest 1,022,500 Interest 738,300
Total $ 1,422,500 Total $ 1,038,300

TOTAL REQUIREMENTS
Principal $ 3,880,000
Interest 3,096,903
Fees 20,600
TOTAL $ 6,997,503

Explanation of Use for Debt Obligations

2015 GO Bonds - Bailey Boswell Overpass Project
2017 GO Bonds - Next phase of Bailey Boswell Overpass Project
2019 Tax Note - Land purchase for Fire Station, Library, and Senior Center; these funds are also for
playground and Police Department parking lot
2020 Certificates of Obligation - Sidewalk improvements, design of Knowles Dr., Fire Station design,
and miscellaneous roadway design
2021 GO Bonds - Design of Library and Senior Center, also funds construction of the 1st phase of
Knowles Dr.
2022 GO Bonds - Construction of Library/Senior Center facility.
2023 GO Bonds - Construction of Knowles Dr. phase 2&3 and park improvments

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