Page 313 - City of Watauga FY22 Adopted Budget

General Obligation Debt Service Fund

Annual Debt Service Requirement
Series 2021 Certificates of Obligation ( $4,700,000) *EST

DEBT
YEAR ENDING OUTSTANDING Interest
SEPT. 30 OCT. 1 PRINCIPAL Rate INTEREST TOTAL

2022 $4,700,000 $265,000 2.500% $114,188 $379,188
2023 $4,435,000 $285,000 2.500% $107,313 $392,313
2024 $4,150,000 $300,000 2.500% $100,000 $400,000
2025 $3,850,000 $300,000 2.500% $92,500 $392,500
2026 $3,550,000 $310,000 2.500% $84,875 $394,875
2027 $3,240,000 $230,000 2.500% $78,125 $308,125
2028 $3,010,000 $240,000 2.500% $72,250 $312,250
2029 $2,770,000 $245,000 2.500% $66,188 $311,188
2030 $2,525,000 $220,000 2.500% $60,375 $280,375
2031 $2,305,000 $225,000 2.500% $54,813 $279,813
2032 $2,080,000 $185,000 2.500% $49,688 $234,688
2033 $1,895,000 $190,000 2.500% $45,000 $235,000
2034 $1,705,000 $195,000 2.500% $40,188 $235,188
2035 $1,510,000 $200,000 2.500% $35,250 $235,250
2036 $1,310,000 $205,000 2.500% $30,188 $235,188
2037 $1,105,000 $210,000 2.500% $25,000 $235,000
2038 $895,000 $215,000 2.500% $19,688 $234,688
2039 $680,000 $220,000 2.500% $14,250 $234,250
2040 $460,000 $225,000 2.500% $8,688 $233,688
2041 $235,000 $235,000 2.500% $2,938 $237,938
$4,700,000 $1,101,500 $5,801,500

Year Total Principal Interest
This Year's Requirement 2022 $379,188 $265,000 $114,188
Maximum Requirement 2024 $400,000 $300,000 $100,000

Total Outstanding Bonds $4,700,000
Total Original Issue $4,700,000
Issue Date 8/1/2021
Proceeds for contractual obligations of the City to be incurred for making permanent public improvements and purposes, to-wit: (1)
constructing street improvements, curbs, gutters, and sidewalk improvements, including drainage and traffic safety signalizationand
signage incidental thereto; (2) constructing, acquiring, purchasing, renovating, enlarging, and improving the City’s utility system and public
works facilities; (3) designing, constructing, renovating, improving, and equipping the City’s parks and recreational facilities, including
playground equipment; (4) the purchase of materials, supplies, equipment, digital signage, machinery, landscaping, land, and rights-of-way
for authorized needs and purposes relating to the aforementioned capital improvements; (5) the purchase of fleet vehicles, technology
improvements, HVAC improvements, public safety equipment, and a motorcycle; and (6) payment for professional and employee services
relating to the design, construction, project management, inspection, consultant services, and financing of the aforementioned projects.
INTEREST
$450,000
$400,000 PRINCIPAL
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041

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