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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
<br />Development Portion)1,011,335 994,835 766,822 838,804 912,213 821,136 761,472
<br />Assumptions:
<br />20 year Borrowings with Interest Rates ranging from 4.25% to 4.50%.
<br />Water and Sewer Projects Debt Service (Article 46 Sales Tax) - RECOMMENDED
<br />Fiscal Years 2019-24
<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.
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