Page 323 - Watauga FY22-23 Budget

General Obligation Debt Service Fund

Annual Debt Service Requirement
Series 2022 Certificates of Obligation ( $550,000) *EST

DEBT
YEAR ENDING OUTSTANDING Interest
SEPT. 30 OCT. 1 PRINCIPAL Rate INTEREST TOTAL
2023 $550,000 $100,000 4.500% $21,538 $121,538
2024 $450,000 $105,000 4.500% $17,888 $122,888
2025 $345,000 $110,000 4.500% $13,050 $123,050
2026 $235,000 $115,000 4.500% $7,988 $122,988
2027 $120,000 $120,000 4.500% $2,700 $122,700

$550,000 $63,163 $613,163
Year Total Principal Interest
This Year's Requirement 2023 $121,538 $100,000 $21,538
Maximum Requirement 2025 $123,050 $110,000 $13,050
Total Outstanding Bonds $550,000
Total Original Issue $550,000
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
$140,000 PRINCIPAL
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$0
2023 2024 2025 2026 2027

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