Riverside City Council
September 17, 2024

Interfund Loan (Revised I) (2)
Issue Title: Solid Waste Fund - 100% Financed
Debt Category: Interfund Loan
Issue Date: 9/17/2024
First Payment Date: 7/1/2025
Loan Amount $2,870,000.00
Day Count 360
Annual Interest Rate 3.00%
Years 3
Payments per Year 1
Insurance: None
Reserve Account: None
Notes: 3 Year Term - City Pool Rate, reset annually
Lender General Fund
Borrower Solid Waste Fund
Fiscal Year Ending Date
Fiscal Year /
Transaction
Date
Total Loan
Payment Principal Due 7/1 Interest Due 6/30 Loan Balance Interest Accrual
Rate
Number
of Days in
period
2025 9/17/2024 (2,870,000.00) 2,870,000.00
2025 6/30/2025 67,684.17 0.00 67,684.17 2,870,000.00 3.00% 283 2026* 7/1/2025 786,100.00 700,000.00 86,100.00 2,170,000.00 3.00% 360 2027 7/1/2026 1,135,100.00 1,070,000.00 65,100.00 1,100,000.00 3.00% 360 2028 7/1/2027 1,133,000.00 1,100,000.00 33,000.00 0.00 3.00% 360 3,121,884.17 2,870,000.00 251,884.17 3.00%
*Estimated projections - replace with actuals after fiscal year has closed and city pool rate has been finalized