Debt service requirements to maturity are as follows:
| Year Ending June 30, | Principal | Interest | Total |
|---|---|---|---|
| 2026 | $ 850,000 | $ 547,000 | $ 1,397,000 |
| 2027 | 880,000 | 512,400 | 1,392,400 |
| 2028 | 920,000 | 476,400 | 1,396,400 |
| 2029 | 955,000 | 438,000 | 1,393,000 |
| 2030 | 990,000 | 399,100 | 1,389,100 |
| 2031-2035 | 3,230,000 | 950,200 | 4,180,200 |
| 2036-2038 | 4,718,169 | 599,200 | 5,317,369 |
| Total | $ 12,543,169 | $ 3,922,300 | $ 16,465,469 |
The City of Palm Desert Community Facilities District No. 2021-1 (University Park) Special Tax Bonds, Series 2021 (the “Bonds”) are being issued by the City of Palm Desert Community Facilities District No. 2021-1 (University Park) (the “District”) to: (i) pay and defense a pro rata portion of outstanding Series 2006A Special Tax Bonds (the “CFD 2005-1 Pro Rata Bonds”) issued by, and secured by the special taxes of existing City of Palm Desert Community Facilities District No. 2005-1 (University Park) (“CFD No. 2005-1”); (ii) finance the acquisition of certain public improvements needed with respect to the development of property located within the District, including public improvements to be owned by the City and water and sewer facilities to be owned and operated by the Coachella Valley Water District; (iii) fund a reserve account for the Bonds; and (iv) pay costs of issuance for the Bonds. Interest rates vary from 3.00% to 4.00% with interest payable semi-annually on March 1 and September 1, with principal maturing annually on September 1.
Debt service requirements to maturity are as follows:
Year Ending
| Year Ending June 30, | Principal | Interest | Total |
|---|---|---|---|
| 2026 | $ 325,000 | $ 543,675 | $ 868,675 |
| 2027 | 335,000 | 533,775 | 868,775 |
| 2028 | 345,000 | 523,575 | 868,575 |
| 2029 | 355,000 | 513,075 | 868,075 |
| 2030 | 365,000 | 502,275 | 867,275 |
| 2031-2035 | 1,575,000 | 1,886,650 | 3,461,650 |
| 2036-2040 | 2,335,000 | 1,980,900 | 4,315,900 |
| 2041-2045 | 2,835,000 | 1,465,100 | 4,300,100 |
| 2046-2050 | 3,445,000 | 839,500 | 4,284,500 |
| 2051-2052 | 1,884,999 | 147,800 | 2,032,799 |
| Total | $ 13,799,999 | $ 8,936,325 | $ 22,736,324 |