Below is a table showing the cash flow savings and debt service coverage provided from the Local Obligations to the proposed 2023 Bonds:
Local Obligations Prior (3/1/23) Series 2023 Total Property Owner DS Date Revenue Debt Service Debt Service Debt Service Savings Coverage 3/1/2023
9/1/2023 5,309,449 1,638,756 3,662,698 5,301,454 7,995 1.002 9/1/2024 5,379,654 - 5,022,750 5,022,750 356,904 1.071
9/1/2025 5,451,505 - 5,090,000 5,090,000 361,505 1.071
9/1/2026 5,489,860 - 5,123,250 5,123,250 366,610 1.072
9/1/2027 5,495,740 - 5,128,750 5,128,750 366,990 1.072
9/1/2028 5,489,678 - 5,127,500 5,127,500 362,178 1.071
9/1/2029 5,486,509 - 5,124,500 5,124,500 362,009 1.071
9/1/2030 5,493,699 - 5,129,500 5,129,500 364,199 1.071
9/1/2031 5,515,360 - 5,146,750 5,146,750 368,610 1.072
9/1/2032 5,561,828 - 5,190,250 5,190,250 371,578 1.072
9/1/2033 5,310,323 - 4,958,250 4,958,250 352,073 1.071
9/1/2034 5,041,949 - 4,709,000 4,709,000 332,949 1.071
9/1/2035 5,393,485 - 5,033,500 5,033,500 359,985 1.072
9/1/2036 5,478,188 - 5,113,250 5,113,250 364,938 1.071
9/1/2037 5,598,260 - 5,224,250 5,224,250 374,010 1.072
9/1/2038 5,669,076 - 5,294,250 5,294,250 374,826 1.071
9/1/2039 5,839,593 - 5,449,500 5,449,500 390,093 1.072
Totals $93,004,156 $1,638,756 $85,527,948 $87,166,704 $5,837,452 Avg. Annual Savings (*) $364,341
Total Properties 2,339
Avg. Annual Property Owner Savings $156
Note
(*) Excludes Bond Year 2023 Already on the Tax Roll
The table below shows the estimated sources and uses of funds for the 2023 Bonds:
Sources: New Money Refunding Total
Bond Proceeds:
4,585,000.00 54,310,000.00 58,895,000.00
517,638.35 5,693,372.30 6,211,010.65
5,102,638.35 60,003,372.30 65,106,010.65
Other Sources of Funds:
408,020.66 408,020.66
914,909.02 914,909.02
1,322,929.68 1,322,929.68
5,102,638.35 61,326,301.98 66,428,940.33
Uses: New Money Refunding Total
Project Fund Deposits:
5,000,000.00 5,000,000.00
Refunding Escrow Deposits:
0.88 0.88
60,137,496.00 60,137,496.00
60,137,496.88 60,137,496.88
Delivery Date Expenses:
31,140.16 368,859.84 400,000.00
22,925.00 271,550.00 294,475.00
33,291.93 394,347.81 427,639.74
12,727.37 150,757.63 163,485.00
100,084.46 1,185,515.28 1,285,599.74
Other Uses of Funds:
2,553.89 3,289.82 5,843.71
5,102,638.35 61,326,301.98 66,428,940.33
Prior DSR
Par Amount
Premium
Surety Bond (3%)
Prior Fund Balances
Project Fund
Cash Deposit
SLGS Purchases
Cost of Issuance
Underwriter's Discount
Bond Insurance (50bps)
Additional Proceeds