FY2023_PDF_Debt_Service_outstanding.pdf

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Attached to
Independent Registered Municipal Advisor
Solicitation number
2024-RFP-0186
Issued by
Los Angeles County, California

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The document is a financial table titled "Long Term Obligations Payable from City General Fund" prepared by the City of Pasadena's Department of Finance, dated June 30, 2023. The table comprehensively details the city's long-term financial obligations, categorized into three main sections: Pension Obligation Bonds, City Leases, and Self-Supporting Obligations. The total general fund obligations stand at $528,982,000, with the original par amount being $611,369,000.

The obligations include various bond types with different characteristics, such as fixed and variable rate instruments. Notable entries include 2020 Taxable Pension Obligation Bonds totaling $126,985,000, City Leases including 2015A Certificates of Participations at $44,570,000, and Self-Supporting Obligations like the 2008 Paseo Colorado Taxable Revenue Bonds at $19,500,000. Some obligations have associated Letters of Credit from banks like Bank of America and Bank of the West, with expiration dates ranging from 2025-2026. The final maturities for these obligations span from 2026 to 2043, indicating a diverse and complex debt portfolio for the City of Pasadena.

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TABLE A-29

LONG TERM OBLIGATIONS PAYABLE FROM CITY GENERAL FUND

AS OF June 30, 2023 ($ in Thousands)

City Issues Original Par Outstanding Final

Maturity Variable/Fixed

Synthetic Fixed (SWAP)

Letter of Credit Expiration

Date Letter of

Credit Bank

Pension Obligation Bonds

2020 AB Taxable POBs 131,805 126,985

2015 B Taxable POBs(unrefunded) 7,555 3,540 2045 Fixed – –

Sub-Total Pension Obligation Bonds $139,360 $130,525

City Leases

2015A Certificate of Participations 55,350 44,570 2038 Fixed

2020 A Equip Lease Financing-Motorola Radio Equipment 6,800 3,982 2026 Fixed – –

Sub-Total City Leases $62,263 $48,552

Self-Supporting Obligations

2006 A CAB COPs (Conference Center) 27,140 - 2023 Fixed – – 2008 A COPs (Conference Center) 134,720 134,720 2035 Variable/SWAP(Synthetic Fixed) 3/31/2025 Bank of

America 2008 Paseo Colorado Taxable Revenue Bonds 28,800 19,500 2038 Variable 9/16/2025 Bank of the

West 2010 A PPA Lease Revenue Bonds (Rose Bowl Renovation Project) Tax-Exempt 36,808 26,557 2033 Fixed – – 2010 B PPA Lease Revenue Bonds (Rose Bowl Renovation Project) Tax-BABS 106,660 106,660 2043 Fixed – – 2010 D PPA Lease Revenue Bonds (Rose Bowl Renovation Project) Tax-RZEDBS 7,400 7,400 2043 Fixed – – 2016 A Rose Bowl Lease Revenue Bonds Refunding (Tax-Exempt) 21,865 17,630 2027 Fixed – – 2018 A Rose Bowl Lease Revenue Refunding Bonds (Tax-Exempt) 30,585 30,585 2042 Fixed 2018 B Rose Bowl Lease Revenue Refunding Bonds (Taxable) 12,515 5,385 2027 Fixed 2019 A Equip Lease Financing-PACS Equipment 3,253 1,468 2026 Fixed – –

Sub-Total Self-Supporting $409,746 $349,905

Total General Fund Obligations $611,369 $528,982

Source: City of Pasadena, Department of Finance.

File details come from the government source that posted it. Updated .