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Water and Sewer Projects Debt Service (Article 46 Sales Tax) - RECOMMENDED
<br /> Fiscal Years 2019-24
<br /> Current
<br /> Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year
<br /> Debt Service 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
<br /> Projected Article 46 Sales Tax Proceeds(Economic
<br /> Development Portion) 1,825,976 1,899,015 1,974,976 2,053,975 2,136,134 2,136,134 2,221,579
<br /> Article 46 Sales Tax Existing Debt Service Obligation 814,641 809,260 807,502 805,137 797,166 794,838 793,882
<br /> Projected Debt Financing
<br /> 2018-2019-$1,290,000
<br /> Hillsborough EDD-$1,290,000 94,920 94,920 94,920 94,920 94,920 94,920
<br /> 2019-20-$4,155,000
<br /> Eno EDD-$1,490,000 109,637 109,637 109,637 109,637 109,637
<br /> Hiillsborough EDD-$1,060,000 77,997 77,997 77,997 77,997 77,997
<br /> Buckhorn-Mebane EDD Phase 3 Sewer-$1,510,000 111,108 111,108 111,108 111,108 111,108
<br /> Lake Orange Dam Rehabilitation- $95,000 6,990 6,990 6,990 6,990 6,990
<br /> 2020-21-$127,500
<br /> Lake Orange Dam Rehabilitation-$127,500 9,382 9,382 9,382 9,382
<br /> 2021-22-$217,500
<br /> Buckhorn-Mebane EDD Phase 4-$115,000 8,841 8,841 8,841
<br /> Lake Orange Dam Rehabilitation-$102,500 7,880 7,880 7,880
<br /> 2022-23-$1,215,000
<br /> Buckhorn-Mebane EDD Phase 4-$945,000 72,648 72,648
<br /> Lake Orange Dam Rehabilitation-$270,000 20,757 20,757
<br /> 2023-24-$1,900,000
<br /> Lake Orange Dam Rehabilitation-$1,900,000 146,065
<br /> Projected Additional Annual Debt Service - 94,920 400,652 410,034 426,755 520,160 666,225
<br /> Total Article 46 Sales Tax Debt Service 814,641 904,180 1,208,154 1,215,171 1,223,921 1,314,998 1,460,107
<br /> Available Article 46 Sales Tax Proceeds(Economic 1,011,335 994,835 766,822 838,804 912,213 821,136 761,472
<br /> Development Portion)
<br /> Note: Since the obligation for the Article 46 Sales Tax runs for 10 years,without renewal,the General Fund would be obligated to pay the debt service.
<br /> Assumptions:
<br /> 20 year Borrowings with Interest Rates ranging from 4.25%to 4.50%.
<br /> 201
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