Page 322 - Watauga FY22-23 Budget
P. 322
W/S Debt Service Fund ‐ 44
Annual Debt Service Requirement ‐ Utility (44)
Series 2020 Certificate of Obligation (2011 REF) $7,365,000
DEBT
YEAR ENDING OUTSTANDING Interest
SEPT. 30 OCT. 1 PRINCIPAL Rate INTEREST TOTAL
2023 $920,000 $225,000 1.17% $9,448 $234,448
2024 $695,000 $225,000 1.17% $6,815 $231,815
2025 $470,000 $235,000 1.17% $4,124 $239,124
2026 $235,000 $235,000 1.17% $1,375 $236,375
$920,000 $21,762 $941,762
Total Outstanding Bonds $920,000
Total Original Issue $7,365,000
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 $234,448 $225,000 $9,448
Maximum Requirement 2025 $239,124 $235,000 $4,124
PRINCIPAL INTEREST
$245,000
$240,000
$235,000
$230,000
$225,000
$220,000
$215,000
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