Page 6 - Moreno Valley City 2022 Bonded Debt Summary

private placement refunding lease
refunding revenue bonds
1997 lease revenue bonds 2011 2013

description description
The 2011 Private Placement Refunding of the 1997 The 2013 Refunding Lease Revenue Bonds were issued
Lease Revenue Bond was issued in February 2011. The in December 2013 to refund a portion of the 2005 Lease
1997 Lease Revenue Bonds funded the construction of Revenue Bonds. The 2005 Lease Revenue Bonds were
the Public Safety building. Private placements are debt Original Issue Original Issue issued to fund the construction of improvements to
instruments that are not offered through a public offering various roadways, expansion of the Public Safety Building,
and are generally purchased by institutional issuers such AMOUNT AMOUNT construction of electric utility infrastructure and construction
as banks, insurance companies and pension funds. Private of Fire Station 58 (Moreno Beach).
placements are generally a lower cost alternative to public
offerings. These bonds were purchased by Banc of America $3,272,000 $11,695,000 repayment source
Public Capital Corp. The repayment source for these bonds is the General
Fund. The General Fund may seek reimbursement from
repayment source Issuance Issuance the Development Impact Fee Funds and the Moreno Valley
The repayment sources for these bonds are the General DATE DATE Utility as funds are available.
Fund and the Successor Agency. Tax increment payable
from the Redevelopment Property Tax Trust Fund (RPTTF) is prepayment provisions
subject to approval on the Recognized Obligation Payment 02/01/2011 12/17/2013 No prepayment options.
Schedule (ROPS) by the California Department of Finance.
security
prepayment provisions Maturity Maturity These bonds are secured by City-owned property. This
DATE DATE asset pool consists of the City Hall, Public Safety Building/
No prepayment options.
Emergency Operations Center, Fire Station 99 (Morrison
security Park), Sunnymead Park and John F. Kennedy Park. This
These bonds are secured by City-owned property. This 11/01/2022 11/01/2022 asset pool is shared by the 2013 Refunding Bonds and the
asset pool consists of the City Hall Annex and Fire Station 2014 Refunding Bonds.
65 (John F. Kennedy Park).
Interest Interest debt service schedule
debt service schedule RATES RATES The annual debt service requirements for the 2013 Refunding
The annual debt service requirements for the 2011 Private Lease Revenue Bonds outstanding at June 30, 2022, are
as follows:
Placement Refunding, 1997 Lease Revenue Bonds payable
outstanding at June 30, 2022, are as follows: 3.98% 3% - 5%

2011 PRIVATE PLACEMENT 2013 REFUNDING LEASE
REFUNDING BONDS (1997 LRB) REVENUE BONDS

YEAR ENDING PRINCIPAL INTEREST INTEREST RATE YEAR ENDING GOVERNMENTAL ACTIVITIES MORENO VALLEY UTILITY TOTAL DEBT SERVICE INTEREST
JUNE 30, JUNE 30, RATE
Note: The City
2023 331,000 6,587 3.98% refunded the PRINCIPAL INTEREST PRINCIPAL INTEREST PRINCIPAL INTEREST
2013 Total Road
Improvement
2023 Program COPs on 1,453,000 36,233 172,000 4,392 1,625,000 40,625 5%
October 8, 2020
with the issuance
of the 2020 Total
Road Improvement
Program Certificates
of Participation.