Page 188 - CityofSaginawFY25Budget

CITY OF SAGINAW
GENERAL LONG TERM DEBT REQUIREMENTS FUTURE YEARS

2024-2025

SEPTEMBER 30, PRINCIPAL INTEREST TOTAL

2025 3,880,000 3,096,903 6,976,903

2026 3,645,000 2,985,500 6,630,500

2027 3,875,000 2,878,351 6,753,351

2028 4,210,000 2,743,652 6,953,652

2029 4,315,000 2,580,170 6,895,170

2030 4,475,000 2,402,738 6,877,738
2031 4,550,000 2,215,376 6,765,376
2032 4,745,000 2,025,024 6,770,024
2033 4,935,000 1,833,199 6,768,199

2034 4,565,000 1,632,520 6,197,520

2035 4,750,000 1,446,700 6,196,700
2036 4,445,000 1,251,150 5,696,150
2037 4,625,000 1,064,600 5,689,600

2038 4,275,000 884,700 5,159,700

2039 4,450,000 713,400 5,163,400
2040 4,625,000 534,800 5,159,800

2041 3,405,000 332,350 3,737,350

2042 3,020,000 189,150 3,209,150

2043 1,255,000 50,200 1,305,200

TOTALS $ 78,045,000 $ 30,860,484 $ 108,905,484

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.

181