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Water and Sewer Projects Debt Service (Article 46 Sales T - RecomMended f REVISED 6123,
<br />Fiscal Years 2013 -18
<br />Current Total Available Funds
<br />Fiscal Year Fiscal Year fiscal Year Fiscal Year Fiscal Year Fiscal Year Dedicated to
<br />Debt Service 2012 -1 2013 -14 2014-15 2DIS46 20116 -17 2017-18 lDebtService(FYI2 -1
<br />Article 46 sales Tax Budget (for Debi Service)
<br />;Annual Debt Service as e % of Economic
<br />De velopmenVs Sham ofArfldle 45 Sales Tax'
<br />Proceeds
<br />750,000 769,500 789,293° 809,382 829773 850,469 1 $
<br />60.00% 60.0011/0 60.00% 60.00% 60.110%
<br />4,798,417
<br />Buc horn EDD Phase - $4,256,045 3401484 340,484 340,481 340,484 340,484 $ 1,702,418
<br />201,3-2014- $275,000
<br />fland Beyer ITlowto l ebaree 160,000r 12,3113, 12,E 12,800 12,860 51,21)9
<br />Eno X13 811 9,2 , 9 200 t# 200' 9 266 3 36.8110
<br />2014- 2015.- $5;186,000
<br />Buckhorn E10 - (Efland Sever to Mebane) - $3,436,000 274,880
<br />274,880
<br />274,880
<br />$
<br />Eno ED - $1,750,000 140,000
<br />140,0917
<br />14133000
<br />8'
<br />2015 -2016 - $2,504,000
<br />Bu crrr- Eebane EDD Prase 3 & 4 _ $2,500,000
<br />200,000
<br />2011;00
<br />$
<br />2016-2017- $0
<br />2017'2018 - $0
<br />Projected Annual Debt Service - 340,464 362,484 777,364
<br />977,$6
<br />977,364
<br />Available Article 46 Sales Tax Proceeds for
<br />Debt Service 750,400 429,016, 426,809 32,018
<br />(147,599)
<br />(126,895)
<br />Note the obligation for the Article 46 Sales Tax runs .o, 10 years, without renewal, he General Fund would be obligated to paythe debt serve.
<br />Assumptions:
<br />$ 960,000 or annual debt service = $10,000;000 of debt Issued at current interest rates for 15 years
<br />800,080 of annual utility debt servica = $10,000,000 of debt issued at current interest rates of 20 yearn
<br />824,640
<br />420,000
<br />1/
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