Page 11 - Moreno Valley Citizen's Guide to the Budget

t o t al r o ad impr o vement pr ogram

revenue bonds

2020

Original Issue
AMOUNT
description
The 2020 Total Road Improvement Program Certificates of
$20,970,000 Participation (COPs) were issued in August 2020 to refund
the 2013 Total Road Improvement Program Certificates
of Participation (COPs). The original bonds funded the
construction of certain roadway improvements, including
Issuance the extension of Nason Street between Cactus Avenue
and Fir Avenue and the Perris Boulevard widening between
DATE Ironwood Avenue and Manzanita Avenue.
repayment source
10/08/2020 The repayment source for these bonds is the Measure A Fund.

prepayment provisions
Maturity Optional prepayment continuously after 6/1/30.
DATE
security
The bonds are secured by the pledge of future
06/01/2039 Measure A revenues.

debt service schedule
Interest The annual debt service requirements for the 2020 Total
RATES Road Improvement Program COPs outstanding at June 30, 2023,
are as follows:
0.435% - 3.238%

2020 TOTAL ROAD IMPROVEMENT
CERTIFICATES OF PARTICIPATION

YEAR ENDING PRINCIPAL INTEREST INTEREST RATE
JUNE 30,
2024 970,000 424,415 0.961%
2025 980,000 415,093 1.061%
2026 990,000 404,695 1.402%
2027 1,005,000 390,815 1.602%
2028 1,015,000 374,715 1.919%
2029-2033* 5,425,000 1,548,951 2.019%-2.569%
2034-2038* 6,165,000 812,223 2.669%-3.238%
2039 1,355,000 43,875 3.238%
$17,905,000 $4,414,782

*Represents the total amount due during the specified period.
*Represents the total amount due during the specified period.