Pima County’s Long Term Debt Profile May 2018

A. Outstanding Debt Assuming No New Issuances

As of July 1, 2018, Pima County’s combined long term debt will total $1.08 billion. This is down $200 million from July 1, 2015. The debt will be reduced by 70 percent within five years, and within 10 years will decrease to $50 million.

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Combined Debt Outstanding Principal(In Millions by Fiscal Year)

Street & Highway Debt

Certificates of Participation Debt

General Obligation Debt

Sewer Revenue Debt

Pima County sold the remainder of the voter-authorized general obligation bonds in early 2017. As of July 1, 2018, Pima County’s outstanding general obligation bond debt will total $276 million. This is down $108 million from July 1, 2015. The debt will be reduced by 75 percent within five years, within 10 years will decrease to $985,000, and will be completely paid off within 11 years.

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General Obligation Bonds Outstanding Principal(In Millions by Fiscal Year)

As of July 1, 2018, Pima County’s outstanding HURF bond debt will total $80 million. This is down $34 million from July 1, 2015. The debt will be reduced by 70 percent within five years, within 10 years will decrease to $4 million, and will be completely paid off within 15 years.

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Street & Highway Bonds Outstanding Principal(In Millions by Fiscal Year)

As of July 1, 2018, Pima County’s outstanding sewer revenue debt will total $515 million. This is down $94 million from July 1, 2015. The debt will be reduced by 55 percent within five years, within 10 years will decrease to $37 million, and will be completely paid off within 15 years.

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Sewer Revenue Debt Outstanding Principal(In Millions by Fiscal Year)

As of July 1, 2018, Pima County’s outstanding certificates of participation debt will total $161 million. This is down $5 million from July 1, 2015. The debt will be reduced by 80 percent within five years, within 10 years will decrease to $9 million, and will be completely paid off within 13 years.

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Certificates of Participation Outstanding Principal(In Millions by Fiscal Year)

B. Historical and Future Debt Issuances and Payments

Assumes future planned issuances of remaining HURF bond authorization, sewer revenue debt, and COPs, as described below the following graphs.

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Combined Debt Outstanding Assuming Future Planned Issuances1997 to 2029

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Total Sewer Debt Outstanding Total GO Debt Outstanding

Total COPS Debt Outstanding Total HURF Outstanding

The above graph assumes no new issuances of general obligation bonds as the final voter-authorized bonds from the 1997, 2004 and 2014 elections were sold in early 2017.

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Pima County General Obligation Debt1997 to 2029

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Total Existing GO Debt Issued By Year Total GO Debt Paid By Year

The above graph assumes the sale of $25 million in HURF bonds in 2019, $15.5 million in 2020, $11 million in 2021 and the final $11 million in 2022, which will then exhaust all of the 1997 HURF bond authorization.

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Pima County Street and Highway Debt1997 to 2029

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Total Existing HURF Debt Issued By YearTotal HURF Debt Paid By Year

The above graph assumes the sale of $45 million of sewer revenue debt in 2019, $40 million in 2020, $35 million in 2021, $35 million in 2022, $35 million in 2023, and $45 million in 2024.

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Pima County Sewer Debt1997 to 2039

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Total Existing Sewer Debt Issued By YearTotal Sewer Debt Paid By Year

The above graph assumes the sale of $35 million of certificates of participation in 2019.

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Pima County Certificates of Participation Debt1997 to 2029

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Total Existing COPs Debt Issued By YearTotal COPs Debt Paid By Year