Riverside City Council
April 16, 2024

12 years (2)
Issue Title: Airport Fund - 100% Financed
Debt Category: Interfund Loan
Issue Date: 7/1/2024
First Payment Date: 6/30/2025 & 7/1/2025
Loan Amount $2,000,000.00
Day Count 360
Annual Interest Rate see schedule -->
Years 12
Payments per Year 1
Insurance: None
Reserve Account: None
Notes: 12 Year Term - City Pool Rate, reset annually
Lender General Fund
Borrower Airport
Fiscal Year Ending
Date
Fiscal Year
Beginning Date
Total Loan
Payment Principal Due Interest Due Loan Balance
Interest
Accrual
Rate
Number of
Days in
period
2025 7/1/2024 (2,000,000)$ 2,000,000$
2026 7/1/2025 250,000$ 170,000$ 80,000$ 1,830,000$ 4.00% 360 2027 7/1/2026 243,200$ 170,000$ 73,200$ 1,660,000$ 4.00% 360 2028 7/1/2027 236,400$ 170,000$ 66,400$ 1,490,000$ 4.00% 360 2029 7/1/2028 229,600$ 170,000$ 59,600$ 1,320,000$ 4.00% 360 2030 7/1/2029 222,800$ 170,000$ 52,800$ 1,150,000$ 4.00% 360 2031 7/1/2030 216,000$ 170,000$ 46,000$ 980,000$ 4.00% 360 2032 7/1/2031 209,200$ 170,000$ 39,200$ 810,000$ 4.00% 360 2033 7/1/2032 202,400$ 170,000$ 32,400$ 640,000$ 4.00% 360 2034 7/1/2033 195,600$ 170,000$ 25,600$ 470,000$ 4.00% 360 2035 7/1/2034 188,800$ 170,000$ 18,800$ 300,000$ 4.00% 360 2036 7/1/2035 182,000$ 170,000$ 12,000$ 130,000$ 4.00% 360 2037 7/1/2036 135,200$ 130,000$ 5,200$ -$ 4.00% 360 511,200$ 2,000,000$ 511,200$ 4.00% Total Fiscal Impact 2,511,200$
Net Savings to CalTRANS 504,571$
Debt schedule can be supported with current net income average of approximately ~$200k