25LINKBUDGET(FULL) - Flipbook - Page 91
City of Plymouth 2024 / 2025 Budget
Debt Retirement Schedule
General Debt Policy
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This Policy was adopted in early 2015 prior to the adoption of the 2016/17 City Budget
and is intended to provide guidance and direction to the City Commission and
Administration in the development of funding for long range capital improvement
projects which are of such size and scope that they cannot be funded through the
normal annual appropriation process. The Policy is intended to work in conjunction
with the already adopted policy on capital outlay planning described in the previous
section of this budget.
Table I. General and Special Bonded Debt - Schedule by Bond Issue
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This schedule shows the total annual principal and interest for each City bond issue
which has been issued directly by the City. It includes General Obligation (GO) debt
and Limited Tax General Obligation Debt (LTGO) for public improvements. Some
bond payments are shared by more than one activity in a fund, or by more than one
fund, in which case each percentage share is shown in Table II.
Table II. General and Special Bonded Debt - Schedule by Payment Source
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This schedule shows the annual grand total principal and interest for each City fund
for each fiscal year that has remaining debt to be paid. Beginning with the 2009/10
fiscal year, the City had no remaining debt obligations for either the Municipal
Building Authority (MBA) or the Downtown Development Authority (DDA). However,
the 2010 and part of the 2015 LTGO Bond payments, although direct obligations of the
City, are reimbursed by the DDA.
Table III. History of Total Annual Debt - Schedule by Payment Source
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This schedule shows the history of total annual debt, by payment source for paid and
outstanding debt service, beginning in fiscal year 1993/94.
Table IV. Equipment Loans and Land Contracts - Schedule by Loan Contract
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This schedule shows the annual payments which must be made for each land, lease,
and equipment loan contract held by the City. All remaining debt of this nature is
currently an obligation of the Equipment Fund.
25BDS-01-DRS.DOCX
TABLE OF CONTENTS
DEBT
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