Page 327 - City of Watauga FY22 Adopted Budget

W/S Debt Service Fund - 44

Annual Debt Service Requirement - Utility (44)

Series 2020 Certificate of Obligation (2011 REF) $7,365,000

DEBT
YEAR ENDING OUTSTANDING Interest
SEPT. 30 OCT. 1 PRINCIPAL Rate INTEREST TOTAL
2022 $1,140,000 $220,000 1.17% $12,051 $232,051
2023 $920,000 $225,000 1.17% $9,448 $234,448
2024 $695,000 $225,000 1.17% $6,815 $231,815
2025 $470,000 $235,000 1.17% $4,124 $239,124
2026 $235,000 $235,000 1.17% $1,375 $236,375
$1,140,000 $33,813 $1,173,813

Total Outstanding Bonds $1,140,000
Total Original Issue $2,780,000
Issue Date 7/27/2011
For the purpose of paying contractual obligations of the City to be incurred for making
permanent public improvements and for other public purposes, to wit: (1) constructing,
acquiring, purchasing, renovating, enlarging , and improving the System, (2)
constructing street improvements (including utility repair, replacement, and relocation),
curb, gutters, and sidewalk improvements, (3) constructing, renovating, and improving
various City facilities, (4) purchasing a new fire truck, public safety vehicles and
ambulance vehicles.
Year Total Principal Interest

This Year's Requirement 2022 $232,051 $220,000 $12,051

Maximum Requirement 2025 $239,124 $235,000 $4,124

PRINCIPAL INTEREST
$245,000
$240,000
$235,000
$230,000
$225,000
$220,000
$215,000
$210,000

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