Page 304 - Watauga FY22-23 Budget

General Obligation Debt Service Fund

Annual Debt Service Requirement
Series 2022 Certificates of Obligation ( $4,450,000) *EST

DEBT
YEAR ENDING OUTSTANDING Interest
SEPT. 30 OCT. 1 PRINCIPAL Rate INTEREST TOTAL
2023 $4,450,000 $1,005,000 4.500% $213,915 $1,218,915
2024 $3,445,000 $200,000 4.500% $150,525 $350,525
2025 $3,245,000 $210,000 4.500% $141,300 $351,300
2026 $3,035,000 $215,000 4.500% $131,738 $346,738
2027 $2,820,000 $225,000 4.500% $121,838 $346,838
2028 $2,595,000 $125,000 4.500% $113,963 $238,963
2029 $2,470,000 $130,000 4.500% $108,225 $238,225
2030 $2,340,000 $135,000 4.500% $102,263 $237,263
2031 $2,205,000 $140,000 4.500% $96,075 $236,075
2032 $2,065,000 $150,000 4.500% $89,550 $239,550
2033 $1,915,000 $155,000 4.500% $82,688 $237,688
2034 $1,760,000 $160,000 4.500% $75,600 $235,600
2035 $1,600,000 $170,000 4.500% $68,175 $238,175
2036 $1,430,000 $180,000 4.500% $60,300 $240,300
2037 $1,250,000 $185,000 4.500% $52,088 $237,088
2038 $1,065,000 $195,000 4.500% $43,538 $238,538
2039 $870,000 $205,000 4.500% $34,538 $239,538
2040 $665,000 $215,000 4.500% $25,088 $240,088
2041 $450,000 $220,000 4.500% $15,300 $235,300
2042 $230,000 $230,000 4.500% $5,175 $235,175
$4,450,000 $1,731,878 $6,181,878

Year Total Principal Interest
This Year's Requirement 2023 $1,218,915 $1,005,000 $213,915
Maximum Requirement 2023 $1,218,915 $1,005,000 $213,915
Total Outstanding Bonds $4,450,000
Total Original Issue $4,450,000
Issue Date 8/15/2022
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 signalization and 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
$1,400,000
$1,200,000 PRINCIPAL
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041

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