Page 292 - CityofWataugaAdoptedBudgetFY24

General Obligation Debt Service Fund

Annual Debt Service Requirement
Series 2023 Certificates of Obligation ( $8,950,000) *EST

DEBT
YEAR ENDING OUTSTANDING Interest
SEPT. 30 OCT. 1 PRINCIPAL Rate INTEREST TOTAL
2024 $8,950,000 $1,390,000 4.5% $345,000 $1,735,000
2025 $7,560,000 $310,000 4.5% $333,225 $643,225
2026 $7,250,000 $325,000 4.5% $333,225 $658,225
2027 $6,925,000 $155,000 4.5% $200,000 $355,000
2028 $6,770,000 $345,000 4.5% $124,000 $469,000
2029 $6,425,000 $360,000 4.5% $168,000 $528,000
2030 $6,065,000 $380,000 4.5% $171,000 $551,000
2031 $5,685,000 $330,000 4.5% $100,000 $430,000
2032 $5,355,000 $345,000 4.5% $100,000 $445,000
2033 $5,010,000 $360,000 4.5% $100,000 $460,000
2034 $4,650,000 $375,000 4.5% $100,000 $475,000
2035 $4,275,000 $395,000 4.5% $250,000 $645,000
2036 $3,880,000 $415,000 4.5% $250,000 $665,000
2037 $3,465,000 $430,000 4.5% $250,000 $680,000
2038 $3,035,000 $450,000 4.5% $250,000 $700,000
2039 $2,585,000 $470,000 4.5% $250,000 $720,000
2040 $2,115,000 $495,000 4.5% $250,000 $745,000
2041 $1,620,000 $515,000 4.5% $175,000 $690,000
2042 $1,105,000 $540,000 4.5% $175,000 $715,000
2043 $565,000 $565,000 4.5% $175,000 $740,000
$8,950,000 $4,099,450 $13,049,450

Year Total Principal Interest
This Year's Requirement 2024 $1,735,000 $1,390,000 $345,000
Maximum Requirement 2024 $1,735,000 $1,390,000 $345,000
Total Outstanding Bonds $8,950,000
Total Original Issue $8,950,000
Issue Date 9/1/2023
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
$2,000,000
PRINCIPAL
$1,500,000

$1,000,000

$500,000

$0
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041

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