Page 330 - City of Watauga FY22 Adopted Budget

W/S Debt Service Fund 44

Annual Debt Service Requirement ‐ Utility (44)

Series 2012 ‐ Certificate of Obligation ( $7,730,000 )
DEBT
YEAR ENDING OUTSTANDING Interest
SEPT. 30 OCT. 1 PRINCIPAL Rate INTEREST TOTAL
2022 $4,810,000 $370,000 3.00% $147,900 $517,900
2023 $4,440,000 $385,000 3.00% $136,575 $521,575
2024 $4,055,000 $395,000 3.00% $124,875 $519,875
2025 $3,660,000 $405,000 3.25% $112,369 $517,369
2026 $3,255,000 $420,000 3.25% $98,963 $518,963
2027 $2,835,000 $435,000 3.25% $85,069 $520,069
2028 $2,400,000 $450,000 3.25% $70,688 $520,688
2029 $1,950,000 $465,000 3.25% $55,819 $520,819
2030 $1,485,000 $480,000 3.25% $40,463 $520,463
2031 $1,005,000 $495,000 3.25% $24,619 $519,619
2032 $510,000 $510,000 3.25% $8,288 $518,288

$4,810,000 $905,628 $5,715,628
Total Outstanding Bonds $4,810,000
Total Original Issue $7,730,000
Issue Date 8/27/2012

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, acquiring,
purchasing, renovating, enlarging and improving the storm water and drainage system.
Year Total Principal Interest

This Year's Requirement 2022 $517,900 $370,000 $147,900

Maximum Requirement 2023 $521,575 $385,000 $136,575

PRINCIPAL INTEREST
$600,000
$500,000

$400,000
$300,000

$200,000
$100,000
$0

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