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<br />Water and Sewer Projects Debt Service (Article 46 Sales Tax)
<br />Fiscal Years 2012 -19 (REVISED from 5/8/14 BOCC Actions)
<br />Debt Service
<br />Current
<br />Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Total Available Funds
<br />Dedicated to
<br />2012 -13 2013 -14 2014 -15 2015 -16 2016 -17
<br />2017 -18
<br />2018 -19
<br />Debt Service (FY 12 -19
<br />Article 46 Sales Tax Budget (for Debt Service)
<br />750 000 816 000 836 490 857 287 878,398
<br />899 824
<br />921,572
<br />$ 5,959 571
<br />Annual Debt Service as a % of Economic
<br />Development's Share of Article 46 Sales Tax
<br />Proceeds
<br />6000% 6000% 6000% 60.00% 6000%
<br />6000%
<br />6000%
<br />Projected Debt Financing
<br />2012 -13 - $4,256,046
<br />Buckhorn EDD Phase 2 - $4 256 046
<br />340,484 340 484 340 484 340 484
<br />340 484
<br />340 484
<br />$ 2 042 902
<br />2013 -2014 - $281,400
<br />Buckhorn EDD(Efland Sewer to Mebane) - $281,400
<br />22,512 22 512 22 512
<br />22 512
<br />22,512
<br />$ 112,560
<br />2014 -2015 - $4,300,000
<br />Buckhorn EDD- (Efland Sewer to Mebane) - $4,300,000
<br />Eno EDD - $0
<br />344,000 344 000
<br />344 000
<br />344 000
<br />$ 1 376 000
<br />2015 -2016 - $1,000,000
<br />Hillsborough EDD - $1 000 000
<br />80,000
<br />80,000
<br />80 000
<br />$ 240,000
<br />2016 -2017 - $2,500,000
<br />Buckhorn- Mebane EDD Phase 3 & 4 - $2,500,000
<br />Eno EDD - $0
<br />200,000
<br />200 000
<br />$ 400,000
<br />2017 -2018 - $0
<br />2018 19 - $1,750,000
<br />Eno EDD - $1,750,000
<br />Projected Annual Debt Service
<br />- 340,484 362,996 706 996 786 996
<br />986 996
<br />986 996
<br />$ 4 171 462
<br />Available Article 46 Sales Tax Proceeds for Debt
<br />Service
<br />750,000 475,516 473,494 150,291 91,402
<br />87,172
<br />( )
<br />(65,424)
<br />$ 1,788,109
<br />Note. Since the obligation for the Article 46 Sales Tax runs
<br />for 10 years, without renewal, the General Fund would be obligated to pay the
<br />debt service.
<br />Assumptions.
<br />$ 960 000 of annual debt service = $ 10,000,000 of debt
<br />issued at current interest rates for 15 years
<br />$ 800,000 of annual utility debt service = $10,000 000
<br />of debt issued at current interest rates of 20 years
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