Page 319 - Watauga FY22-23 Budget

W/S Debt Service Fund 44

Annual Debt Service Requirement ‐ Utility (44)
Series 2017 ‐ Certificate of Obligation ( $7,325,000 )

DEBT
YEAR ENDING OUTSTANDING Interest
SEPT. 30 OCT. 1 PRINCIPAL Rate INTEREST TOTAL
2023 $5,905,000 $315,000 3.00% $172,425 $487,425
2024 $5,590,000 $325,000 3.00% $162,825 $487,825
2025 $5,265,000 $335,000 3.00% $152,925 $487,925
2026 $4,930,000 $345,000 3.00% $142,725 $487,725
2027 $4,585,000 $355,000 3.00% $132,225 $487,225
2028 $4,230,000 $370,000 3.00% $121,350 $491,350
2029 $3,860,000 $380,000 3.00% $110,100 $490,100
2030 $3,480,000 $390,000 3.00% $98,550 $488,550
2031 $3,090,000 $405,000 3.00% $86,625 $491,625
2032 $2,685,000 $415,000 3.00% $74,325 $489,325
2033 $2,270,000 $425,000 3.00% $61,725 $486,725
2034 $1,845,000 $440,000 3.00% $48,750 $488,750
2035 $1,405,000 $455,000 3.00% $35,325 $490,325
2036 $950,000 $470,000 3.00% $21,450 $491,450
2037 $480,000 $480,000 3.00% $7,200 $487,200

$5,905,000 $1,428,525 $7,333,525
Total Outstanding Bonds $5,905,000
Total Original Issue $7,325,000
Issue Date 6/1/2017

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 2023 $487,425 $315,000 $172,425

Maximum Requirement 2031 $491,625 $405,000 $86,625

PRINCIPAL INTEREST
$600,000
$500,000
$400,000
$300,000
$200,000

$100,000
$0

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