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Capital Debt Service Funds

This category is comprised of

General, Public Utilities, Solid Waste, Parking and Convention Center Funds

debt service payments (principal and interest payments on bond issues and installment-purchase payments) for

large capital improvement projects financed on a long-term basis. While current revenues provide funding for some

capital projects, a portion of the City’s capital program is funded through the issuance of general obligation bonds,

revenue bonds, certificates of participation or other installment financing. This type of long-term borrowing must be

repaid annually with principal and interest payments.

The City of Raleigh has issued long-term debt for a variety of purposes in recent years. Since 2000, the following

debt has been approved for issuance either through voter referendum or other authorization allowed by state

statutes:

Nov 2000

$45,000,000 Street Improvements, $16,000,000 Parks, and $14,000,000 Housing General

Obligation Bonds (voter approved)

Nov 2000

$10,445,000 Parking Facility Certificates of Participation (Council approved)

Jan 2001

$22,670,000 Water and Sewer Revenue Bonds (Council approved)

Apr 2001

$15,000,000 Equipment Acquisition Fund Certificates of Participation (Council approved)

May 2002

$9,700,000 Public Improvement General Obligation Bonds (two-thirds authorization)

Dec 2002

$2,900,000 Public Improvement General Obligation Bonds (two-thirds authorization)

Apr 2003

$16,000,000 Equipment Acquisition Fund Certificates of Participation (Council approved)

Aug 2003

$47,250,000 Parks & Recreation General Obligation Bonds (voter approved)

Feb 2004

$55,000,000 Downtown Improvement—Convention Center Phase 1 Certificates of

Participation (Council approved)

Apr 2004

$108,980,000 Water and Sewer Revenue Bonds (Council approved)

Aug 2004

$23,530,000 Downtown Improvement—Fayetteville Street, Progress Energy Deck, & CTV

Equipment Certificates of Participation (Council approved)

Aug 2004

$10,140,000 Downtown Improvement—One Exchange Plaza Certificates of Participation

(Council approved)

Jan 2005

$28,515,000 Downtown Improvement—Hotel Underground Parking Deck Certificates of

Participation (Council approved)

Jan 2005

$188,425,000 Downtown Improvement—Convention Center Phase 1 Certificates of

Participation (Council approved)

Aug 2005

$10,600,000 Street Improvements General Obligation Bonds (two-thirds authorization)

Oct 2005

$34,850,000 Capital Improvements Project – Equipment Acquisition Fund; Barwell

Road/Brier Creek Park Sites; Utilities Operation Center Certificates of Participation (Council

approved)

Oct 2005

$60,000,000 Street Improvements and $20,000,000 Housing General Obligation Bonds

(voter approved)

Sep 2006

$241,175,000 Water and Sewer Revenue Bonds (Council approved)

Jun 2007

$39,634,215 Equipment Installment Financing (Council approved)

Sep 2007

$28,930,000 Downtown Improvement COPS (Council approved)

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