City of Palm Desert Redevelopment Agency Tax Allocation Bond Issue Information June 30, 2025
DESCRIPTION$15,745,000\nTax Allocation\nRevenue\nBond
Years30
Bond Issue Date03/26/03
Final Maturity Date08/01/33
Highest Interest Rate5.00%
Bond Issue Amount$ 15,745,000
Outstanding Bond Amount$ 13,960,000
Call Premium1 - 2.00%
Bond InsurerMBIA
Reserve Requirement (1)1,574,500
Reserve Balance (1)(1)
Called Bonds-
Principal Due 25/261,340,000
Interest Due 25/26635,725
Arbitrage Yield Rate4.9502%
Arbitrage-Amount Owed-
Arbitrage Five Year Due Date:03/26/28
DESCRIPTIONNon-Housing Tax Allocation Bond (Exempt)1Non-Housing Tax Allocation Bond (Taxable)2
Years1324
Bond Issue Date01/31/1701/31/17
Final Maturity Date10/01/3010/01/41
Highest Interest Rate5.000%4.250%
Bond Issue Amount52,390,000140,130,000
Outstanding Bond Amount29,060,00079,085,000
Bond InsurerBAMBAM
Reserve Requirement (1)5,840,3979,027,545
Reserve Balance (1)(1)(1)
Principal Due 25/266,910,0005,710,000
Interest Due 25/261,280,2502,979,956
Arbitrage Yield Rate3.659%3.659%
Arbitrage Five Year Due Date:01/31/2701/31/27
DESCRIPTIONHousingTax AllocationBond Exempt^{3}HousingTax AllocationBond Taxable^{4}
Years146
Bond Issue Date01/31/1701/31/17
Final Maturity Date10/01/3110/01/23
Highest Interest Rate5.000%
Bond Issue Amount7,365,00045,815,000
Outstanding Bond Amount4,095,000-
Bond InsurerBAMBAM
Reserve Requirement (1)687,5190
Reserve Balance (1)(1)(1)
Principal Due 25/26505,000-
Interest Due 25/26168,394-
Arbitrage Yield Rate2.907%2.907%
Arbitrage Five Year Due Date:01/31/2701/31/27
(1) A surety bond was issued by MBIA Insurance, future reserve balance's will be zero.
1 Refunded PA 1-4 tax exempt portion of bonds ($22.07M, $19M, $24.945M, $62.3M, $17.31M, $67.6M, $4.745M, $15.05M, $11.02M, $15.695M, and $19.2M) 2 Refunded PA 1-4 taxable portion of bonds ($22.07M, $19M, $24.945M, $62.3M, $17.31M, $67.6M, $4.745M, $15.05M, $11.02M, $15.695M, and $19.2M) 3 Refunded Housing tax exempt portion of bonds (12.1M and $86.155M)
Source: CITY Finance Department Source: City of Palm Desert and Successor Agency to the Palm Desert Role development Agency