CITY OF RIVERSIDE
Fiscal Year 2023/2024 Quarterly
Summary of Outstanding Debt1
Debt Type By Funding Source
Principal
Balance as of
7/1/2023
Principal
Balance as of
1/1/2024
Q3 New Debt
Issued
Q3 Principal
Payments
Q3 Interest
Payments
Principal
Balance as of
4/1/2024
Projected
Principal
Balance
6/30/2024
General Fund/Measure Z
General Obligation Bonds 3,380,000$ 1,740,000$ -$ -$ 47,850$ 1,740,000$ 1,740,000$ Pension Obligation Bonds 317,279,231 317,279,231 - - - 317,279,231 310,004,808 Certificates of Participation 56,717,969 56,717,969 - 3,209,135 319,030 53,508,835 53,508,835 Lease Revenue Bonds 45,199,648 42,420,298 - - - 42,420,298 42,420,298 Capital Leases 19,289,928 17,504,912 - 1,271,064 86,328 16,233,847 15,701,019 Interfund Loans 1,130,945 824,873 - - - 824,873 824,873 Total General Fund 442,997,721$ 436,487,283$ -$ 4 ,480,199$ 4 53,207$ 4 32,007,084$ 4 24,199,832$ Capital Projects Funds
Measure A Certificates of Participation 23,225,000 21,190,000 - - - 21,190,000 19,360,000 Total Capital Projects Funds 23,225,000$ 21,190,000$ -$ -$ -$ 21,190,000$ 19,360,000$ Enterprise Funds
Pension Obligation Bonds 103,708,515$ 103,708,515$ -$ -$ -$ 103,708,515$ 95,251,995$ Electric Fund Revenue Bonds 507,370,000 486,875,000 213,295,000 99,490,000 4,197,653 600,680,000 600,680,000 Water Fund Revenue Bonds 243,300,000 235,350,000 - - 132,867 235,350,000 235,350,000 Water Fund Capital Lease 986,007 867,768 - 119,638 10,262 748,130 748,130 Sewer Fund Revenue Bonds 313,085,000 301,625,000 - - 7,426,025 301,625,000 301,625,000 Lease Revenue Bonds 6,168,000 5,688,000 - - - 5,688,000 5,688,000 Certificates of Participation 24,582,031 24,582,031 - 1,390,865 138,270 23,191,165 23,191,165 Civic Entertainment Fund Loan 5,929,782 5,631,621 - - - 5,631,621 5,327,720 Convention Center Expansion Loan 27,410,223 26,331,131 - 545,681 2 18,934 25,785,450 25,239,939 Parking Fund Loans 6,630,655 6,297,252 - - - 6,297,252 5,957,432 Total Enterprise Funds 1,239,170,213$ 1,196,956,318$ 213,295,000$ 101,546,184$ 12,124,012$ 1,308,705,134$ 1,299,059,382$ Internal Service Funds
Pension Obligation Bonds 4,287,254$ 4,287,254$ -$ -$ -$ 4,287,254$ 3,938,197$ Total Internal Service Funds 4,287,254$ 4,287,254$ -$ -$ -$ 4,287,254$ 3,938,197$ RDA Successor Agency
Lease Revenue Bonds 6,802,353 4,246,703 - - - 4,246,703 4,246,703 Tax Allocation Bonds 143,085,000 132
,805,000 - - 3,097,303 132,805,000 132,805,000 Interfund Loans 2,002,900 1,562,987 - - - 1,562,987 1,562,987 Total RDA Successor Agency 151,890,253$ 138,614,689$ -$ -$ 3,097,303$ 138,614,689$ 138,614,689$ Assessment Districts / Galleria Agreement / Community Facilities Districts Assessment Districts 14,395,000$ 12,770,000$ -$ -$ 337,501$ 12,770,000$ 12,770,000$ Galleria Mall Improvements District Certificates of Participation 5,000 5,000 - - 125 5,000 5,000 L
ease Revenue Refunding Bonds (Galleria) Series 2019A 13,225,000 12,465,000 - - - 12,465,000 12,465,000 Community Facilities Districts 24,585,000 23,775,000 - - 521,994 23,775,000 27,915,000 Total AD / Galleria / CFDs 52,210,000$ 49,015,000$ -$ -$ 859,620$ 49,015,000$ 53,155,000$ Total $ 1,913,780,440 $ 1,846,550,544 $ 213,295,000 $ 106,026,383 $ 16,534,142 $ 1,953,819,161 $ 1,938,327,101 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 2023/2024 Quarterly
Outstanding Debt1
Debt Type / Issuance
Year
Issued
(FY)
Final
Maturity
(FY)
Total Issue Size
Outstanding
Principal
Balance
7/1/2023
Outstanding
Principal
Balance 1/1/2024
Q3 New Debt
Issued
Q3 Principal
Payments
Q3 Interest
Payments
Outstanding
Principal
Balance 4/1/2024
Projected Principal
Balance 6/30/2024
General Obligation
Measure G Fire Facility Projects General Obligation Bonds 2004 2004 2025 20,000,000$ 3,380,000$ 1,740,000$ -$ -$ 47,850$ 1,740,000$ 1,740,000$ 20,000,000$ 3,380,000$ 1,740,000$ -$ -$ 47,850$ 1,740,000$ 1,740,000$ Pension Obligation2
Pension Obligation Bonds Series 2017A 2017 2027 31,960,000 13,715,000 13,715,000 - - - 13,715,000 10,430,000 Pension Obligation Bonds Series 2020A (Safety) 2020 2045 231,085,000 231,085,000 231,085,000 - - - 231,085,000 230,895,000 Pension Obligation Bonds Series 2020A (Misc) 2020 2043 201,080,000 180,475,000 180,475,000 - - - 180,475,000 167,870,000 464,125,000$ 425,275,000$ 425,275,000$ -$ -$ -$ 425,275,000$ 409,195,000$ Certificates of Participation
Galleria Mall Improvements COPs Series 2006A 2006 2037 19,945,000$ 5,000$ 5,000$ -$ -$ 125$ 5,000$ 5,000$ Riverside Renaissance Projects Refunding COPs Series 2008A 2008 2037 128,300,000 81,300,000 81,300,000 - 4,600,000 457,300 76,700,000 76,700,000 Local Measure A Sales Tax Revenue COPs Series 2023A (6) 2023 2033 21,190,000 23, 225,000 21, 190,000 - - - 21, 190,000 19, 360,000 169,435,000$ 104,530,000$ 102,495,000$ -$ 4,600,000$ 457,425$ 97,895,000$ 96,065,000$ Lease Revenue Bonds
California Tower Lease Revenue Bonds Series 2003A 2003 2024 26,255,000$ 4,315,000$ 2,230,000$ -$ -$ -$ 2,230,000$ 2,230,000$ California Tower Lease Revenue Bonds Series 2003B 2003 2024 4,810,000 680,000 350,000 - - - 350,000 350,000 Lease Revenue Refunding Bonds Series 2012A 2013 2034 41,240,000 25,700,000 23,700,000 - - - 23,700,000 23,700,000 Lease Revenue Refunding Bonds (Galleria) Series 2019A 2019 2037 15,980,000 13,225,000 12,465,000 - - - 12,465,000 12,465,000 Lease Revenue Bonds (Main Library Project) Series 2019B 2019 2037 33,505,000 27,475,000 26,075,000 - - - 26,075,000 26,075,000 121,790,000$ 71,395,000$ 64,820,000$ -$ -$ -$ 64,820,000$ 64,820,000$ Capital Leases
BofA #2 - Various Hardware and Software 2018 2028 7,955,000 2,127,954 1,605,310 - 528,825 18,984 1,076,485 1,076,485 BofA #3 - Fire, PW and Refuse Vehicles and Equipment 2017 2027 14,500,000 6,904,003 6,169,778 - 742, 239 67,343 5,427,538 5,427,538 BofA #4 - Police Helicopters 2022 2032 11,291,564 10,257,971 9,729,824 - - - 9,729,824 9,196,996 BofA #2 - Water Fund Vehicles Capital Lease 2018 2028 2,305,000 986,007 867,768 - 119,638 10,262 748,130 748,130 36,051,564$ 20,275,935$ 18,372,679$ -$ 1,390,702$ 96,590$ 16,981,977$ 16,449,149$ Interfund Loans3
Reid Park Acquisition Interfund Loan 2011 2028 720,000$ 257,604$ 200,332$ - - - 200,332$ 200,332$ Riverside Golf Course Acquisition Interfund Loan 2011 2028 4,837,500 1,745,296 1,362,655 - - - 1,362,655 1,362,655 Utilities Plaza Purchase Interfund Loan 2012 2027 4,469,221 1,130,945 824,873 - - - 824,873 824,873 10,026,721$ 3,133,845$ 2,387,860$ -$ -$ -$ 2,387,860$ 2,387,860$ Private Placement Loans
Fox Entertainment Plaza Loan 2011 2032 25,000,000$ 12,560,437$ 11,928,873$ -$ -$ -$ 11,928,873$ 11,285,152$ Convention Center Expansion Loan4 2013 2034 44,650,000 27, 410,223 26, 331,131 - 545, 681 218, 934 25, 785,450 25, 239,939 69,650,000$ 39,970,660$ 38,260,004$ -$ 545,681$ 218,934$ 37,714,323$ 36,525,092$ Enterprise Revenue Bonds
Electric Revenue Refunding Bonds (2008) Series A 2008 2029 84,515,000$ 34,465,000$ 34,465,000$ -$ 34,465,000$ 709,607$ -$ -$ Electric Revenue Refunding Bonds (2008) Series C 2008 2036 57,325,000 32,150,000 32,150,000 - 32,150,000$ 1,747,715 - - Electric Revenue Bonds (2010) Series A 2010 2041 133,290,000 126,110,000 123,515,000 - - - 123,515,000 123,515,000 Electric Revenue Bonds (2011) Series A 2011 2036 56,450,000 33,600,000 32,875,000 - 32,875,000$ 1,740,331 - - Electric Revenue Refunding Bonds (2013) Series A 2014 2044 79,080,000 35,385,000 - - - - - - Electric Revenue Refunding Bonds (2019) Series A 2019 2049 283,325,000 245, 660,000 232, 480,000 - - - 232, 480,000 232, 480,000 Total Interfund Loans
Total Private Placement Loans
Total General Obligation Bonds
Total Pension Obligation Bonds
Total Certificates of Participation
Total Lease Revenue Bonds
Total Capital Leases
CITY OF RIVERSIDE
Fiscal Year 2023/2024 Quarterly
Outstanding Debt1
Debt Type / Issuance
Year
Issued
(FY)
Final
Ma
turity
(FY)
Total Issue Size
Outstanding
Principal
Balance
7/1/2023
Outstanding
Pr
incipal
Balance 1/1/2024
Q3 New Debt
Issu
ed
Q3 Principal
Payments
Q3 Interest
Payments
Outstanding
Pr
incipal
Balance 4/1/2024
Projected Principal
Balance 6/30/2024
Electric Revenue Refunding Bonds (2023) Series A 2024 2044 31,390,000 - 31,390,000 - - - 31,390,000 31,390,000 Electric Revenue Refunding Bonds (2024) Series A 2024 2050 213,295,000 - - 213,295,000 - - 213,295,000 213,295,000 Water Revenue Bonds (2009) Series B 2010 2040 67,790,000 62,760,000 60,115,000 - - - 60,115,000 60,115,000 Water Revenue Bonds (2011) Series A 2011 2036 59,000,000 24,050,000 24,050,000 - - 132,867 24,050,000 24,050,000
Water Revenue Refunding Bonds (2019) Series A 2019 2049 114,215,000 98,465,000 93,895,000 - - - 93,895,000 93,895,000 Water Revenue Bonds (2022) Series A 2022 2053 58,025,000 58,025,000 57,290,000 - - - 57,290,000 57,290,000 Sewer Revenue Bonds (2015) Series A 2015 2041 200,030,000 173,610,000 167,490,000 - - 4,128,950 167,490,000 167,490,000 Sewer Revenue Bonds (2018) Series A 2019 2040 153,670,000 139,475,000 134,135,000 - - 3,297,075 134,135,000 134,135,000 1,591,400,000$ 1,063,755,000$ 1,023,850,000$ 213,295,000$ 99, 490,000$ 11,756,545$ 1,137,655,000$ 1,137,655,000$ T
ax Allocation Bonds
2014 Subordinate Tax Allocation Refunding Bonds Series 2014A 2014 2034 61,250,000$ 28, 025,000$ 23,
425,000$ -$ -$ 578,125$ 23,
425,000$ 23,
425,000$
2014 S
ubordinate Tax Allocation Refunding Bonds Series 2014B 2014 2024 1,730,000 385,000 195,000 - - 3,900 195,000 195,000 2018 Tax Allocation Refunding Bonds Series 2018A 2018 2034 74,435,000 74,295,000 68,805,000 - - 1,717,641 68,805,000 68,805,000 2018 Tax Allocation Refunding Bonds, Taxable Series 2018B 2018 2033 40,380,000 40,380,000 40,380,000 - - 797,638
40,380,000 40,380,000
177,795,000$ 143,
085,000$ 132,
805,000$ -$ -$ 3,
097,303$ 132,
805,000$ 132,
805,000$
M
ello Roos and Assessment District Bonds
Riverwalk Business Center Assessment District Bonds 2004 2029 3,755,000$ 1, 620,000$ 1,
430,000$ -$ -$ 44,534$ 1,
430,000$ 1,
430,000$
Sycamore Canyon Business Park CFD 92-1 Bonds 2005 2034 9,700,000 5,660,000 5,310,000 - - 140,054 5,310,000 5,310,000 Hunter Park Assessment District Bonds 2006 2036 15,269,906 9,460,000 8,985,000 - - 232,820 8,985, 000 8,985,000 Riverwalk Assessment District Refunding Bonds 2011 2026 7,805,000 2,565,000 1,970,000 - - 50,522 1,970,000 1,970,000 Auto Center Assessment District Refunding Bonds5 2012 2024 4,050, 000 750,000 385,000 - - 9,625 385,000 385,000 Riverwalk Vista CFD 2006-1 Bonds 2013 2043 4,415,000 3,660,000 3,555,000 - - 90,316 3,555,000 3,555,000 Riverwalk Vista CFD 2006-1 Improv Area No.2 2016 Series A 2016 2046 5,505,000 5,055,000 4,970,000 - - 87,347 4,970,000 4,970,000 Riverwalk Vista CFD 2006-1 Improv Area No.2 2016 Series B 2016 2031 1,275,000 790,000 715,000 - - 15,988 715,000 715,000 Highlands CFD 2014-2 2016 Series A 2016 2046 1,800,000 1,740,000 1,730,000 - - 28,338 1,730,000 1,730,000 Highlands CFD 2014-2 2016 Series B 2016 2031 810,000 530,000 480,000 - - 10,538 480,000 480,000 Orangecrest CFD 2015-1 Bonds Series 2020 Series A 2020 2050 2,075,000 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 365,000 270,000 220,000 - - 3,740 220,000 220,000 Pomelo CFD 2015-2 Bonds Series 2022 2022 2053 4,805,000 4,805,000 4,720,000 - - 104,175 4,720,000 4,720,000 Kunny Ranch CFD 2013-1 Series 2024 2024 2054 4,1 40,000 - - - - - - 4,140,000 $ 38,980,000 65,769,906 $ 36,
545,000$ -$ -$ 859,495$ 36,
545,000$ 40,
685,000$
T
otal $ 1,913,780,440 $ 1,846, 550,544 $ 213,295, 000 $ 106,026, 383 $ 16,534, 142 $ 1,953, 819,161 $ 1,938, 327,101 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 2018 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
CITY OF RIVERSIDE
Fiscal Year 2023/2024 Quarterly
Outstanding Debt1
1