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47

City of Raleigh

Financial Section

Annual maturities are as follows:   

Fiscal Year

Ending June 30

Principal

Interest

Principal

Interest

2017

5,800,937

$     

190,457

$       

7,495,219

$               

223,431

$               

2018

5,593,027

125,099

7,202,259

141,325

2019

3,083,119

72,774

3,360,180

79,313

2020

3,176,830

31,387

3,352,848

34,207

17,653,913

$   

419,717

$       

21,410,506

$             

478,276

$               

Governmental Activities

Business‐type Activities

State Revolving Loans

During the current fiscal year, the City’s Water and Sewer Utility enterprise received 

$8,096,049 in proceeds from state revolving fund loans.  These loans carry fixed interest rates of 0.0% to 2.00% and 

are payable over 20 years.  Final amounts for these loans will be determined when the associated projects close.  

Repayment will begin six months after respective project completion.   

The City has previously entered into state revolving loans to finance various water and sewer capital projects.  

These debt issues carry fixed interest rates of 2.00% to 2.95% (water/sewer system improvements), 2.66% (water 

improvements to Rolesville merged utilities), and 0.0% (spray irrigation).  Principal and interest requirements for 

these debt issues will be provided by appropriation in the year they become due.  The City’s participation in the 

state revolving fund loan program is summarized below:  

Balance

Date

Amount of

Outstanding

Interest

Date

Series

Original

June 30,

State Revolving Loans

Rates

Issued

Matures

Issue

2016

Water and Sewer:

Neuse River Nitrogen Removal 

2.95%

7/31/1998

5/1/2018

7,972,965

$         

796,101

$          

Crabtree Creek Interceptor Phase 3

2.60%

1/7/2000

5/1/2020

3,300,000

660,000

Rolesville Projects (F‐97‐0931)

2.66% 11/14/2005

5/1/2025

2,316,247

1,042,311

Rolesville Projects (F‐98‐0931)

2.66% 11/14/2005

5/1/2025

683,753

307,689

Spray Irrigation

0.00%

9/1/2010

5/1/2030

625,694

393,899

Crabtree Creek North Bank Interceptor

2.45%

7/5/2011

5/1/2033

11,094,556

8,254,331

Centennial Reuse Pipeline Segment 4

0.00%

5/1/2012

5/1/2033

5,125,312

2,225,791

NRWWTP 15MGD Expansion

2.00%

4/18/2013

5/1/2037

27,638,450

22,049,849

DE Benton Backwash Waste Facility

0.00%

5/18/2013

5/1/2034

7,075,847

6,608,823

Sodium Permanganate Facility 

0.00%

3/26/2015

5/1/2036

3,678,800

1,662,151

Crabtree Creek Improvement Phase II

2.00%

7/13/2015

5/1/2037

37,500,000

9,460,652

Water and Sewer Total

53,461,597

Stormwater:

Upper Longview Restoration

0.00%

1/16/2013

5/1/2035

2,034,751

1,831,276

Stormwater Total

1,831,276

Total Loan Amount

55,292,873

$     

47