Page 306 - Watauga FY22-23 Budget

General Obligation Debt Service Fund

Annual Debt Service Requirement ‐ GF (03)

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

DEBT
YEAR ENDING OUTSTANDING Interest
SEPT. 30 OCT. 1 PRINCIPAL Rate INTEREST TOTAL
2023 $460,000 $115,000 1.17% $4,709 $119,709
2024 $345,000 $115,000 1.17% $3,364 $118,364
2025 $230,000 $115,000 1.17% $2,018 $117,018
2026 $115,000 $115,000 1.17% $673 $115,673
$460,000 $10,764 $470,764

Total Outstanding Bonds $460,000
Total Original Issue $4,585,000
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 2023 $119,709 $115,000 $4,709

Maximum Requirement 2023 $119,709 $115,000 $4,709

$121,000
$120,000 PRINCIPAL INTEREST
$119,000
$118,000
$117,000
$116,000
$115,000
$114,000
$113,000
$112,000

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