CITY OF RIVERSIDE
Fiscal Year 2024/2025 Quarterly
Summary of Outstanding Debt1
Debt Type By Funding Source
Outstanding
Beginning
Principal
Balance Q1
Outstanding
Beginning
Principal
Balance Q3
Q3 New Debt
Issued
Q3 Principal
Payments
Q3 Interest
Payments
Outstanding
Beginning
Principal
Balance Q4
Projected Ending
Principal Balance
Q4
General Fund/Measure Z
General Obligation Bonds 1,740,000$ -$ -$ -$ -$ -$ -$ Pension Obligation Bonds 310,004,808 310,004,808 - - - 310,004,808 300,551,250 Certificates of Participation 53,508,835 53,508,835 - 3,278,899 321,141 50,229,936 50,229,936 Lease Revenue Bonds 42,420,298 38,053,663 - - - 38,053,663 80,573,663 Capital Leases 15,701,019 13,878,047 - 1,299,938 57,454 12,578,110 12,035,793 Interfund Loans 824,873 517,868 - - - 517,868 517,868 Total General Fund 424,199,832$ 415,963,220$ -$ 4,578,836$ 378,595$ 411,384,384$ 443,908,509$ Capital Projects Funds
Measure A Certificates of Participation 19,360,000 19,360,000 - - - 19,360,000 17,605,000 Total Capital Projects Funds 19,360,000$ 19,360,000$ -$ -$ -$ 19,360,000$ 17,605,000$ Enterprise Funds
Pension Obligation Bonds 95,251,995$ 95,251,995$ -$ -$ -$ 95,251,995$ 85,887,166$ Electric Fund Revenue Bonds 600,680,000 582,675,000 - - - 582,675,000 582,675,000 Water Fund Revenue Bonds 235,350,000 226,890,000 - - 115,144 226,890,000 226,890,000 Water Fund Capital Lease 748,130 5,441,078 - 422,351 107,282 5,018,726 5,018,726 Sewer Fund Revenue Bonds 301,625,000 292,445,000 - - 7,124,775 292,445,000 292,445,000 Lease Revenue Bonds 5,688,000 4,680,000 - - - 4,680,000 4,680,000 Certificates of Participation 23,191,165 23,191,165 - 1,421,101 139,185 21,770,064 21,770,064 Civic Entertainment Fund Loan 5,327,720 5,017,969 - - - 5,017,969 4,702,256 Convention Center Expansion Loan 25,239,939 24,125,594 - 560,356 199,706 23,565,238 22,996,537 Parking Fund Loans 7,957,432 7,611,070 - - - 7,611,070 7,058,040 Airport Fund Loans - 2,000,000 - - - 2,000,000 2,000,000 Total Enterprise Funds 1,301,059,381$ 1,269,328,871$ -$ 2,403,809$ 7,686,092$ 1,266,925,062$ 1,256,122,789$ Internal Service Funds
Pension Obligation Bonds 3,938,197$ 3,938,197$ -$ -$ -$ 3,938,197$ 3,551,584$ Total Internal Service Funds 3,938,197$ 3,938,197$ -$ -$ -$ 3,938,197$ 3,551,584$ RDA Successor Agency
Lease Revenue Bonds 4,246,703 1,371,338 - - - 1,371,338 1,371,338 Tax Allocation Bonds 132,805,000 122,115,000 - - 2,831,028 122,115,000 122,115,000 Interfund Loans 1,562,987 1,125,506 - - - 1,125,506 1,125,506 Total RDA Successor Agency 138,614,690$ 124,611,844$ -$ -$ 2,831,028$ 124,611,844$ 124,611,844$ Assessment Districts / Galleria Agreement / Community Facilities Districts Assessment Districts 12,770,000$ 11,055,000$ -$ -$ 293,248$ 11,055,000$ 11,055,000$ Galleria Mall Improvements District Certificates of Participation 5,000 5,000 - - 125 5,000 5,000 Lease Revenue Refunding Bonds (Galleria) Series 2019A 12,465,000 11,685,000 - - - 11,685,000 11,685,000 Community Facilities Districts 27,915,000 27,070,000 3,790,000 - 607,623 30,860,000 30,860,000 Total AD / Galleria / CFDs 53,155,000$ 49,815,000$ 3,790,000$ -$ 900,996$ 53,605,000$ 53,605,000$ Total $ 1,940,327,100 $ 1,883,017,133 $ 3,790,000 $ 6,982,645 $ 11,796,711 $ 1,879,824,488 $ 1,899,404,726 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 2024/2025 Quarterly
Outstanding Debt1
2024-2025
Debt Type / Issuance
Year
Issued
(FY)
Final
Maturity
(FY)
Total Issue Size
Outstanding
Beginning
Principal
Balance Q1
Outstanding
Beginning
Principal
Balance Q3
Q3 New Debt
Issued
Q3 Principal
Payments
Q3 Interest
Payments
Outstanding
Beginning
Principal
Balance Q4
Projected Ending
Principal Balance
Q4
General Obligation
Measure G Fire Facility Projects General Obligation Bonds 2004 2004 2025 20,000,000$ 1,740,000$ -$ -$ -$ -$ -$ -$ 20,000,000$ 1,740,000$ -$ -$ -$ -$ -$ -$ Pension Obligation2
Pension Obligation Bonds Series 2017A 2017 2027 31,960,000$ 10,430,000$ 10,430,000$ -$ -$ -$ 10,430,000$ 7,055,000$ Pension Obligation Bonds Series 2020A (Safety) 2020 2045 231,085,000 230,895,000 230,895,000 - - - 230,895,000 229,280,000 Pension Obligation Bonds Series 2020A (Misc) 2020 2043 201,080,000 167,870,000 167,870,000 - - - 167,870,000 153,655,000 464,125,000$ 409,195,000$ 409,195,000$ -$ -$ -$ 409,195,000$ 389,990,000$ 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 76,700,000 76,700,000 - 4,700,000 460,326 72,000,000 72,000,000 Local Measure A Sales Tax Revenue Refunding COPs Series 2023A 6 2024 2033 21,190,000 19,360,000 19,360,000 - - - 19,360,000 17,605,000 169,435,000$ 96,065,000$ 96,065,000$ -$ 4,700,000$ 460,451$ 91,365,000$ 89,610,000$ Lease Revenue Bonds
California Tower Lease Revenue Bonds Series 2003A 2003 2024 26,255,000$ 2,230,000$ -$ -$ -$ -$ -$ -$ California Tower Lease Revenue Bonds Series 2003B 2003 2024 4,810,000 350,000 - - - - - - Lease Revenue Refunding Bonds Series 2012A 2013 2034 41,240,000 23,700,000 - - - - - - Lease Revenue Refunding Bonds (Galleria) Series 2019A 2019 2037 15,980,000 12,465,000 11,685,000 - - - 11,685,000 11,685,000 Lease Revenue Bonds (Main Library Project) Series 2019B 2019 2037 33,505,000 26,075,000 24,605,000 - - - 24,605,000 24,605,000 Lease Revenue Refunding Bonds Series 2024A 2025 2034 19,500,000 - 19,500,000 - - - 19,500,000 19,500,000 Lease Revenue Bonds Series 2025A (Museum) 2025 2055 42,520,000 - - - - - - 42,520,000 183,810,000$ 64,820,000$ 55,790,000$ -$ -$ -$ 55,790,000$ 98,310,000$ Capital Leases
BofA #2 - Various Hardware and Software 2018 2028 7,955,000$ 1,076,485$ 541,406$ -$ 541,407$ 6,403$ (0)$ (0)$ BofA #3 - Fire, PW and Refuse Vehicles and Equipment 2017 2027 14,500,000 5,427,538 4,677,197 - 758,531 51,052 3,918,666 3,918,666 BofA #4 - Police Helicopters 2022 2032 11,291,564 9,196,996 8,659,444 - - - 8,659,444 8,117,127 BofA #2 - Water Fund Vehicles Capital Lease 2018 2028 2,305,000 748,130 627,078 - 122,484 7,416 504,593 504,593 JPM # 1000150621 - Water Fund Electric Vehicles 2025 2032 4,814,000 - 4,814,000 - 299,867 99,866 4,514,133 4,514,133 40,865,564$ 16,449,149$ 19,319,125$ -$ 1,722,289$ 164,737$ 17,596,836$ 17,054,519$ Interfund Loans3
Airport Interfund Loan 2025 2037 2,000,000$ -$ 2,000,000$ -$ -$ -$ 2,000,000$ 2,000,000$ Reid Park Acquisition Interfund Loan 2011 2028 720,000 200,332 143,345 - - - 143,345 143,345$ Riverside Golf Course Acquisition Interfund Loan 2011 2028 4,837,500 1,362,655 982,161 - - - 982,161 982,161 Parking Interfund Loan Outlay Garages 1 & 2 2024 2034 2,000,000 2,000,000 2,000,000 - - - 2,000,000 1,800,000 Solid Waste Truck Purchases Interfund Loan 2025 2028 2,870,000 - 2,870,000 - - - 2,870,000 2,870,000 Utilities Plaza Purchase Interfund Loan 2012 2027 4,469,221 824,873 517,868 - - - 517,868 517,868 16,896,721$ 4,387,860$ 8,513,374$ -$ -$ -$ 8,513,374$ 8,313,374$ Private Placement Loans
Fox Entertainment Plaza Loan 2011 2032 25,000,000$ 11,285,152$ 10,629,039$ -$ -$ -$ 10,629,039$ 9,960,296$ Convention Center Expansion Loan4
2013 2034 44,650,000 25,239,939 24,125,594 - 560,356 199,706 23,565,238 22,996,537 69,650,000$ 36,525,091$ 34,754,634$ -$ 560,356$ 199,706$ 34,194,277$ 32,956,833$ Enterprise Revenue Bonds
Electric Revenue Bonds (2010) Series A 2010 2041 133,290,000$ 123,515,000$ 120,805,000$ -$ -$ -$ 120,805,000$ 120,805,000$ Electric Revenue Refunding Bonds (2019) Series A 2019 2049 283,325,000 232,480,000 218,635,000 - - - 218,635,000 218,635,000
FISCAL YEAR
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 2024/2025 Quarterly
Outstanding Debt1
Debt Type / Issuance
Year
Issued
(FY)
Final
Maturity
(FY)
Total Issue Size
Outstanding
Beginning
Principal
Balance Q1
Outstanding
Beginning
Principal
Balance Q3
Q3 New Debt
Issued
Q3 Principal
Payments
Q3 Interest
Payments
Outstanding
Beginning
Principal
Balance Q4
Projected Ending
Principal Balance
Q4
Electric Revenue Refunding Bonds (2023) Series A 2024 2044 31,390,000 31,390,000 30,400,000 - - - 30,400,000 30,400,000 Electric Revenue Bonds (2024) Series A 2024 2050 213,295,000 213,295,000 212,835,000 - - - 212,835,000 212,835,000 Water Revenue Bonds (2009) Series B 2010 2040 67,790,000 60,115,000 57,365,000 - - - 57,365,000 57,365,000 Water Revenue Bonds (2011) Series A 2011 2036 59,000,000 24,050,000 24,050,000 - - 115,144 24,050,000 24,050,000 Water Revenue Refunding Bonds (2019) Series A 2019 2049 114,215,000 93,895,000 89,105,000 - - - 89,105,000 89,105,000 Water Revenue Bonds (2022) Series A 2022 2053 58,025,000 57,290,000 56,370,000 - - - 56,370,000 56,370,000 Sewer Revenue Bonds (2015) Series A 2015 2041 200,030,000 167,490,000 161,060,000 - - 3,968,200 161,060,000 161,060,000 Sewer Revenue Bonds (2018) Series A 2019 2040 153,670,000 134,135,000 128,515,000 - - 3,156,575 128,515,000 128,515,000 1,314,030,000$ 1,137,655,000$ 1,099,140,000$ -$ -$ 7,239,919$ 1,099,140,000$ 1,099,140,000$ Tax Allocation Bonds
2014 Subordinate Tax Allocation Refunding Bonds Series 2014A 2014 2034 61,250,000$ 23,425,000$ 18,890,000$ -$ -$ 464,750$ 18,890,000$ 18,890,000$ 2014 Subordinate Tax Allocation Refunding Bonds Series 2014B 2014 2024 1,730,000 195,000 - - - - - - 2018 Tax Allocation Refunding Bonds Series 2018A 2018 2034 74,435,000 68,805,000 62,845,000 - - 1,568,641 62,845,000 62,845,000 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$ 132,805,000$ 122,115,000$ -$ -$ 2,831,028$ 122,115,000$ 122,115,000$ Mello Roos and Assessment District Bonds
Riverwalk Business Center Assessment District Bonds 2004 2029 3,755,000$ 1,430,000$ 1,225,000$ -$ -$ 38,281$ 1,225,000$ 1,225,000$ Sycamore Canyon Business Park CFD 92-1 Bonds 2005 2034 9,700,000 5,310,000 4,945,000 - - 130,701 4,945,000 4,945,000 Hunter Park Assessment District Bonds 2006 2036 15,269,906 8,985,000 8,485,000 - - 220,070 8,485,000 8,485,000
Riverwalk Assessment District Refunding Bonds 2011 2026 7,805,000 1,970,000 1,345,000 - - 34,897 1,345,000 1,345,000 Auto Center Assessment District Refunding Bonds5
2012 2024 4,050,000 385,000 - - - - - - Riverwalk Vista CFD 2006-1 Bonds 2013 2043 4,415,000 3,555,000 3,445,000 - - 87,841 3,445,000 3,445,000 Riverwalk Vista CFD 2006-1 Improv Area No.2 2016 Series A 2016 2046 5,505,000 4,970,000 4,880,000 - - 85,997 4,880,000 4,880,000 Riverwalk Vista CFD 2006-1 Improv Area No.2 2016 Series B 2016 2031 1,275,000 715,000 640,000 - - 14,581 640,000 640,000 Highlands CFD 2014-2 2016 Series A 2016 2046 1,800,000 1,730,000 1,715,000 - - 28,188 1,715,000 1,715,000 Highlands CFD 2014-2 2016 Series B 2016 2031 810,000 480,000 430,000 - - 9,600 430,000 430,000 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 365,000 220,000 170,000 - - 2,890 170,000 170,000 Pomelo CFD 2015-2 Bonds Series 2022A 2022 2053 4,805,000 4,720,000 4,630,000 - - 102,825 4,630,000 4,630,000 Kunny Ranch CFD 2013-1 Series 2024 2024 2054 4,140,000 4,140,000 4,140,000 - - 103,500 4,140,000 4,140,000 Riverpointe/Park Place CFD 2021-2 Series 2025A 2025 2055 3,790,000 - - 3,790,000 - - 3,790,000 3,790,000 69,559,906$ 40,685,000$ 38,125,000$ 3,790,000$ -$ 900,871$ 41,915,000$ 41,915,000$ Total $ 2,526,167,191 $ 1,940,327,100 $ 1,883,017,133 $ 3,790,000 $ 6,982,645 $ 11,796,711 $ 1,879,824,488 $ 1,899,404,726 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 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. 6 The Measure A bonds were refinanced in July 2023 for debt service savings, same final maturity.
Total Mello Roos and Assessment District Bonds
Total Enterprise Revenue Bonds
Total Tax Allocation Bonds