Page 471 - FY 2021-22 Proposed Budget

General Obligation Bond Payments

Exhibit 10 lists the City’s General Obligation Bonds (GOB) debt service
requirements for principal and interest for 2021-22, which are estimated at
$119.3 million. GOBs are general obligations of the City payable from ad
valorem taxes levied upon all of the taxable property in the City. Taxes levied
for the GOB debt service requirement are separate from the General Fund
property tax revenue. The City issues GOB debt for capital improvement
projects, including the acquisition of property and the construction of new
facilities and improvements to existing facilities.

EXHIBIT 10

GENERAL OBLIGATION BONDS
DEBT SERVICE REQUIREMENTS
FOR FISCAL YEAR 2021-22

Total
Principal Interest Requirement
GOB - Series 2011-B 32,480,000 1,576,250 34,056,250
GOB - Series 2012-A 22,735,000 3,214,475 25,949,475
GOB - Series 2016-A 16,775,000 2,852,387 19,627,387
GOB - Series 2017-A 4,320,000 2,182,208 6,502,208
GOB - Series 2017-B 7,035,000 1,426,375 8,461,375
GOB - Series 2018-A 13,815,000 8,802,027 22,617,027
GOB - Series 2018-B - 1,733,250 1,733,250
GOB - Series 2018-C - 378,015 378,015

Total $ 97,160,000 $ 22,164,987 $ 119,324,987

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