| DESCRIPTION | $15,745,000\nTax Allocation\nRevenue\nBond |
|---|---|
| Years | 30 |
| Bond Issue Date | 03/26/03 |
| Final Maturity Date | 08/01/33 |
| Highest Interest Rate | 5.00% |
| Bond Issue Amount | $ 15,745,000 |
| Outstanding Bond Amount | $ 13,960,000 |
| Call Premium | 1 - 2.00% |
| Bond Insurer | MBIA |
| Reserve Requirement (1) | 1,574,500 |
| Reserve Balance (1) | (1) |
| Called Bonds | - |
| Principal Due 25/26 | 1,340,000 |
| Interest Due 25/26 | 635,725 |
| Arbitrage Yield Rate | 4.9502% |
| Arbitrage-Amount Owed | - |
| Arbitrage Five Year Due Date: | 03/26/28 |
| DESCRIPTION | Non-Housing Tax Allocation Bond (Exempt)1 | Non-Housing Tax Allocation Bond (Taxable)2 |
|---|---|---|
| Years | 13 | 24 |
| Bond Issue Date | 01/31/17 | 01/31/17 |
| Final Maturity Date | 10/01/30 | 10/01/41 |
| Highest Interest Rate | 5.000% | 4.250% |
| Bond Issue Amount | 52,390,000 | 140,130,000 |
| Outstanding Bond Amount | 29,060,000 | 79,085,000 |
| Bond Insurer | BAM | BAM |
| Reserve Requirement (1) | 5,840,397 | 9,027,545 |
| Reserve Balance (1) | (1) | (1) |
| Principal Due 25/26 | 6,910,000 | 5,710,000 |
| Interest Due 25/26 | 1,280,250 | 2,979,956 |
| Arbitrage Yield Rate | 3.659% | 3.659% |
| Arbitrage Five Year Due Date: | 01/31/27 | 01/31/27 |
| DESCRIPTION | HousingTax AllocationBond Exempt^{3} | HousingTax AllocationBond Taxable^{4} |
|---|---|---|
| Years | 14 | 6 |
| Bond Issue Date | 01/31/17 | 01/31/17 |
| Final Maturity Date | 10/01/31 | 10/01/23 |
| Highest Interest Rate | 5.000% | |
| Bond Issue Amount | 7,365,000 | 45,815,000 |
| Outstanding Bond Amount | 4,095,000 | - |
| Bond Insurer | BAM | BAM |
| Reserve Requirement (1) | 687,519 | 0 |
| Reserve Balance (1) | (1) | (1) |
| Principal Due 25/26 | 505,000 | - |
| Interest Due 25/26 | 168,394 | - |
| Arbitrage Yield Rate | 2.907% | 2.907% |
| Arbitrage Five Year Due Date: | 01/31/27 | 01/31/27 |
(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