Page 321 - Watauga FY22-23 Budget

W/S Debt Service Fund 44

Annual Debt Service Requirement ‐ Utility (44)
Series 2019 ‐ Certificate of Obligation ( $8,065,000 )

DEBT
YEAR ENDING OUTSTANDING Interest
SEPT. 30 OCT. 1 PRINCIPAL Rate INTEREST TOTAL
2023 $7,580,000 $275,000 5.00% $207,023 $482,023
2024 $7,305,000 $285,000 5.00% $193,023 $478,023
2025 $7,020,000 $295,000 2.00% $182,948 $477,948
2026 $6,725,000 $310,000 5.00% $172,248 $482,248
2027 $6,415,000 $465,000 5.00% $152,873 $617,873
2028 $5,950,000 $435,000 5.00% $130,373 $565,373
2029 $5,515,000 $450,000 2.00% $114,998 $564,998
2030 $5,065,000 $460,000 2.00% $105,898 $565,898
2031 $4,605,000 $470,000 2.00% $96,598 $566,598
2032 $4,135,000 $480,000 2.00% $87,098 $567,098
2033 $3,655,000 $490,000 2.00% $77,398 $567,398
2034 $3,165,000 $500,000 2.13% $67,185 $567,185
2035 $2,665,000 $510,000 2.25% $56,135 $566,135
2036 $2,155,000 $520,000 2.25% $44,548 $564,548
2037 $1,635,000 $535,000 2.35% $32,411 $567,411
2038 $1,100,000 $545,000 2.38% $19,653 $564,653
2039 $555,000 $555,000 2.38% $6,591 $561,591
$7,580,000 $1,746,995 $9,326,995

Total Outstanding Bonds $7,580,000
Total Original Issue $8,065,000
Issue Date 8/1/2019
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 $482,023 $275,000 $207,023

Maximum Requirement 2027 $617,873 $465,000 $152,873

$700,000 PRINCIPAL INTEREST
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0

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