CITY OF RIVERSIDE
Fiscal Year 2022/2023 First Six Months
Summary of Outstanding Debt1
Debt Type By Funding Source
Principal
Balance as of
7/1/2022
Q1 & Q2 New
Debt Issued
Q1 & Q2
Principal
Payments
Q1 & Q2
Interest
Payments
Principal
Balance as of
1/1/2023
Projected
Principal
Balance
6/30/2023
General Fund/Measure Z
General Obligation Bonds 4,940,000 $ - $ 1,560,000$ 135,850 $ 3,380,000 $ 3,380,000 $ Pension Obligation Bonds 333,879,538 - - 6,069,700 333,879,538 317,279,231 Certificates of Participation 59,787,577 - - 895,859 59,787,577 56,717,969 Lease Revenue Bonds 47,848,478 - 2,648,831 1,138,788 45,199,648 45,199,648 Capital Leases 22,887,407 - 1,831,140 238,525 21,056,267 19,289,928 Interfund Loans 1,442,410 - 296,728 - 1,145,682 1,145,682 Total General Fund 470,785,410$ - $ 6,336,699$ 8,478,721 $ 464,448,712$ 443,012,458 $ Capital Projects Funds
Measure A Certificates of Participation 24,985,000 - - 619,369 24,985,000 23,225,000 Total Capital Projects Funds 24,985,000$ - $ - $ 619,369$ 24,985,000$ 23,225,000 $ Enterprise Funds
Pension Obligation Bonds 110,718,958 $ - $ - $ 1,743,752$ 110,718,958$ 103,708,515 $ Electric Fund Revenue Bonds 524,130,000 - 16,760,000 13,534,815 507,370,000 507,370,000 Electric Fund Capital Leases 363,637 - 273,846 2,487 89,791 - Water Fund Revenue Bonds 192,190,000 58,025,000 6,915,000 4,972,138 243,300,000 243,300,000 Water Fund Capital Lease 1,218,356 - 115,492 14,408 1,102,864 986,007 Sewer Fund Revenue Bonds 322,855,000 - 9,770,000 7,956,775 313,085,000 313,085,000 Lease Revenue Bonds 6,625,200 - 457,200 145,647 6,168,000 6,168,000 Certificates of Participation 25,912,423 - - 388,272 25,912,423 24,582,031 Civic Entertainment Fund Loan 6,509,317 - 287,005 125,304 6,222,312 5,929,782 Convention Center Expansion Loan 29,520,327 - 1,047,145 470,205 28,473,182 27,410,223 Parking Fund Loans 7,278,688 - 320,928 140,115 6,957,760 6,630,654 Total Enterprise Funds 1,227,321,906$ 58,025,000 $ 35,946,615 $ 29,493,918 $ 1,249,400,290$ 1,239,170,213 $ Internal Service Funds
Pension Obligation Bonds 4,576,504 $ - $ - $ 72,082$ 4,576,504$ 4,287,254 $ Total Internal Service Funds 4,576,504$ - $ - $ 72,082$ 4,576,504$ 4,287,254 $ RDA Successor Agency
Lease Revenue Bonds 9,201,322 - 2,398,969 226,566 6,802,353 6,802,353 Tax Allocation Bonds 147,795,000 - 4,710,000 3,469,608 143,085,000 143,085,000 Interfund Loans 2,454,346 - 426,370 - 2,027,976 2,027,976 Total RDA Successor Agency 159,450,668$ - $ 7,535,339$ 3,696,174 $ 151,915,329$ 151,915,329 $ Assessment Districts / Galleria Agreement / Community Facilities Districts Assessment Districts 16,315,000 $ - $ 1,570,000$ 425,947 $ 14,745,000$ 14,395,000 $ Galleria Mall Improvements District Certificates of Participation 5,000 - - 125 5,000 5,000 Lease Revenue Refunding Bonds (Galleria) Series 2019A 13,960,000 - 735,000 249,487 13,225,000 13,225,000 Community Facilities Districts 25,280,000 - 695,000 503,764 24,585,000 24,585,000 Total AD / Galleria / CFDs 55,560,000$ - $ 3,000,000$ 1,179,323 $ 52,560,000 $ 52,210,000 $ Total $1,942,679,488 $ 58,025,000 $ 52,818,653 $ 43,539,587 $ 1,947,885,835 $ 1,913,820,253 1 Excludes water stock acquisition rights, copier leases, development agreements, and amortization of premiums and discounts on outstanding debt, none of which are material.
CITY OF RIVERSIDE
Fiscal Year 2022/2023 First Six Months
Outstanding Debt1
Debt Type / Issuance
Year
Issued
(FY)
Final
Maturity
(FY)
Total Issue Size
Outstanding
Principal
Balance
7/1/2022
Q1 & Q2 New
Debt Issued
Q1 & Q2
Principal
Payments
Q1 & Q2
Interest
Payments
Outstanding
Principal
Balance 1/1/2023
Projected Principal
Balance 6/30/2023
General Obligation
Measure G Fire Facility Projects General Obligation Bonds 2004 2004 2025 20,000,000 $ 4,940,000 $ - $ 1,560,000$ 135,850 $ 3,380,000$ 3,380,000 $ 20,000,000$ 4,940,000 $ - $ 1,560,000$ 135,850 $ 3,380,000$ 3,380,000 $ Pension Obligation2
Pension Obligation Bonds Series 2004A 2004 2023 89,540,000 $ 10,715,000 $ - $ - $ 315,878$ 10,715,000$ - $ Pension Obligation Bonds Series 2017A 2017 2027 31,960,000 16,915,000 - - 245,856 16,915,000 13,715,000 Pension Obligation Bonds Series 2020A (Safety) 2020 2045 231,085,000 231,085,000 - - 4,304,160 231,085,000 231,085,000 Pension Obligation Bonds Series 2020A (Misc) 2020 2043 201,080,000 190,460,000 - - 3,019,639 190,460,000 180,475,000 553,665,000$ 449,175,000 $ - $ - $ 7,885,534$ 449,175,000$ 425,275,000 $ Certificates of Participation
Galleria Mall Improvements COPs Series 2006A 2006 2037 19,945,000 $ 5,000 $ - $ - $ 125$ 5,000$ 5,000 $ Riverside Renaissance Projects Refunding COPs Series 2008A 2008 2037 128,300,000 85,700,000 - - 1,284,131 85,700,000 81,300,000 Local Measure A Sales Tax Revenue COPs Series 2013A 2013 2033 35,235,000 24,985,000 - - 619,369 24,985,000 23,225,000 183,480,000$ 110,690,000 $ - $ - $ 1,903,625$ 110,690,000$ 104,530,000 $ Lease Revenue Bonds
California Tower Lease Revenue Bonds Series 2003A 2003 2024 26,255,000 $ 6,265,000 $ - $ 1,950,000$ 156,625 $ 4,315,000$ 4,315,000 $ California Tower Lease Revenue Bonds Series 2003B 2003 2024 4,810,000 995,000 - 315,000 27,263 680,000 680,000 Lease Revenue Refunding Bonds Series 2012A 2013 2034 41,240,000 27,605,000 - 1,905,000 606,863 25,700,000 25,700,000 Lease Revenue Refunding Bonds (Galleria) Series 2019A 2019 2037 15,980,000 13,960,000 - 735,000 249,487 13,225,000 13,225,000
Lease Revenue Bonds (Main Library Project) Series 2019B 2019 2037 33,505,000 28,810,000 - 1,335,000 720,250 27,475,000 27,475,000 121,790,000$ 77,635,000 $ - $ 6,240,000$ 1,760,488 $ 71,395,000 $ 71,395,000 $ Capital Leases
Pinnacle #2 - VOIP Phone System 2013 2023 1,650,000 $ 92,098 $ - $ 92,098$ 1,096 $ - $ - $ BofA #2 - Various Hardware and Software 2018 2028 7,955,000 3,154,988 - 510,498 37,311 2,644,490 2,127,954 BofA #3 - Fire, PW and Refuse Vehicles and Equipment 2017 2027 14,500,000 8,348,757 - 718,456 91,127 7,630,301 6,904,003 BofA #4 - Police Helicopters 2022 2032 11,291,564 11,291,564 - 510,087 108,991 10,781,477 10,257,971 BofA #2 - Water Fund Vehicles Capital Lease 2018 2028 2,305,000 1,218,356 - 115,492 14,408 1,102,864 986,007 Electric Fund Vehicles Capital Leases - Various Various Various Various 363,637 - 273,846 2,487 89,791 - 37,701,564$ 24,469,400 $ - $ 2,220,477$ 255,420 $ 22,248,923$ 20,275,935 $ Interfund Loans
3 Reid Park Acquisition Interfund Loan 2011 2028 720,000 $ 316,346 $ - $ 55,510$ - $ 260,836$ 260,836 $ Riverside Golf Course Acquisition Interfund Loan 2011 2028 4,837,500 2,138,000 - 370,860 - 1,767,140 1,767,140 Utilities Plaza Purchase Interfund Loan 2012 2027 4,469,221 1,442,410 - 296,728 - 1,145,682 1,145,682 10,026,721$ 3,896,756 $ - $ 723,098$ - $ 3,173,658$ 3,173,658 $ Private Placement Loans
Fox Entertainment Plaza Loan 2011 2032 25,000,000 $ 13,788,005 $ - $ 607,933$ 265,419 $ 13,180,072$ 12,560,436 $ Convention Center Expansion Loan
4 2013 2034 44,650,000 29,520,327 - 1,047,145 470,205 28,473,182 27,410,223 69,650,000$ 43,308,332 $ - $ 1,655,078$ 735,624 $ 41,653,254$ 39,970,660 $ Enterprise Revenue Bonds
Electric Revenue Refunding Bonds (2008) Series A 2008 2029 84,515,000 $ 34,465,000 $ - $ - $ 445,632$ 34,465,000$ 34,465,000 $ Electric Revenue Refunding Bonds (2008) Series C 2008 2036 57,325,000 32,150,000 - - 448,664 32,150,000 32,150,000 Electric Revenue Bonds (2010) Series A 2010 2041 133,290,000 128,600,000 - 2,490,000 4,840,177 126,110,000 126,110,000 Electric Revenue Bonds (2011) Series A 2011 2036 56,450,000 35,550,000 - 1,950,000 482,039 33,600,000 33,600,000 Total General Obligation Bonds
Total Pension Obligation Bonds
Total Certificates of Participation
Total Lease Revenue Bonds
Total Capital Leases
Total Interfund Loans
Total Private Placement Loans
CITY OF RIVERSIDE
Fiscal Year 2022/2023 First Six Months
Outstanding Debt1
Debt Type / Issuance
Year
Issued
(FY)
Final
Maturity
(FY)
Total Issue Size
Outstanding
Principal
Balance
7/1/2022
Q1 & Q2 New
Debt Issued
Q1 & Q2
Principal
Payments
Q1 & Q2
Interest
Payments
Outstanding
Principal
Balance 1/1/2023
Projected Principal
Balance 6/30/2023
Electric Revenue Refunding Bonds (2013) Series A 2014 2044 79,080,000 36,355,000 - 970,000 893,053 35,385,000 35,385,000 Electric Revenue Refunding Bonds (2019) Series A 2019 2049 283,325,000 257,010,000 - 11,350,000 6,425,250 245,660,000 245,660,000 Water Revenue Bonds (2009) Series B 2010 2040 67,790,000 65,315,000 - 2,555,000 2,026,868 62,760,000 62,760,000 Water Revenue Bonds (2011) Series A 2011 2036 59,000,000 24,050,000 - - 374,645 24,050,000 24,050,000 Water Revenue Refunding Bonds (2019) Series A 2019 2049 114,215,000 102,825,000 - 4,360,000 2,570,625 98,465,000 98,465,000 Water Revenue Bonds (2022) Series A 2022 2053 58,025,000 - 58,025,000 - - 58,025,000 58,025,000 Sewer Revenue Bonds (2015) Series A 2015 2041 200,030,000 179,430,000 - 5,820,000 4,427,450 173,610,000 173,610,000 Sewer Revenue Bonds (2018) Series A5 2019 2040 153,670,000 143,425,000 - 3,950,000 3,529,325 139,475,000 139,475,000 1,346,715,000$ 1,039,175,000 $ 58,025,000 $ 33,445,000 $ 26,463,728 $ 1,063,755,000$ 1,063,755,000 $ Tax Allocation Bonds
2014 Subordinate Tax Allocation Refunding Bonds Series 2014A 2014 2034 61,250,000$ 32,415,000 $ - $ 4,390,000$ 802,875 $ 28,025,000$ 28,025,000 $ 2014 Subordinate Tax Allocation Refunding Bonds Series 2014B 2014 2024 1,730,000 565,000 - 180,000 10,705 385,000 385,000 2018 Tax Allocation Refunding Bonds Series 2018A 2018 2034 74,435,000 74,435,000 - 140,000 1,858,391 74,295,000 74,295,000 2018 Tax Allocation Refunding Bonds, Taxable Series 2018B 2018 2033 40,380,000 40,380,000 - - 797,638 40,380,000 40,380,000 177,795,000$ 147,795,000 $ - $ 4,710,000$ 3,469,608 $ 143,085,000$ 143,085,000 $ Mello Roos and Assessment District Bonds
Riverwalk Business Center Assessment District Bonds 2004 2029 3,755,000 $ 1,800,000 $ - $ 180,000$ 55,729 $ 1,620,000$ 1,620,000 $ Sycamore Canyon Business Park CFD 92-1 Bonds 2005 2034 9,700,000 5,990,000 - 330,000 157,479 5,660,000 5,660,000 Hunter Park Assessment District Bonds 2006 2036 15,269,906 10,280,000 - 470,000 265,978 9,810,000 9,460,000 Riverwalk Assessment District Refunding Bonds 2011 2026 7,805,000 3,135,000 - 570,000 77,834 2,565,000 2,565,000 Auto Center Assessment District Refunding Bonds 2012 2024 4,050,000 1,100,000 - 350,000 26,406 750,000 750,000 Riverwalk Vista CFD 2006-1 Bonds 2013 2043 4,415,000 3,760,000 - 100,000 94,547 3,660,000 3,660,000
Riverwalk Vista CFD 2006-1 Improv Area No.2 2016 Series A 2016 2046 5,505,000 5,140,000 - 85,000 89,897 5,055,000 5,055,000 Riverwalk Vista CFD 2006-1 Improv Area No.2 2016 Series B 2016 2031 1,275,000 860,000 - 70,000 18,484 790,000 790,000 Highlands CFD 2014-2 2016 Series A 2016 2046 1,800,000 1,750,000 - 10,000 28,538 1,740,000 1,740,000 Highlands CFD 2014-2 2016 Series B 2016 2031 810,000 580,000 - 50,000 12,225 530,000 530,000 Orangecrest CFD 2015-1 Bonds Series 2020 Series A 2020 2050 2,075,000 2,075,000 - - 41,500 2,075,000 2,075,000 Orangecrest CFD 2015-1 Bonds Series 2020 Series B 2020 2028 365,000 320,000 - 50,000 5,440 270,000 270,000 Pomelo CFD 2015-2 Bonds Series 2022 2022 2053 4,805,000 4,805,000 - - 55,654 4,805,000 4,805,000 61,629,906$ 41,595,000 $ - $ 2,265,000$ 929,711 $ 39,330,000$ 38,980,000 $ Total $ 1,942,679,488 $ 58,025,000 $ 52,818,653 $ 43,539,587 $ 1,947,885,835 $ 1,913,820,253 1 Excludes water stock acquisition rights, copier leases, development agreements, and amortization of premiums and discounts on outstanding debt, none of which are material. 2 Debt service for these bonds is allocated based on the percentage of CalPERS plan employees budgeted in those Funds. Payments sent to trustee 8/1 annually, but are actually paid to bondholders in Dec & June 3 Beginning outstanding principal balance on interfund loans may be less than prior year projected ending balance due to actual FY 2022 pooled interest rate adjustment at end of FY 4 Debt service for this loan is primarily funded from a voter-approved increase in the transient occupancy tax rate from 11% to 13%. 5 Under the terms of an existing development agreement, increased incremental sales tax resulting from the expansion of the Auto Center funds the debt service on these bonds.
Total Mello Roos and Assessment District Bonds
Total Enterprise Revenue Bonds
Total Tax Allocation Bonds