Page 294 - CityofWataugaAdoptedBudgetFY24

General Obligation Debt Service Fund

Annual Debt Service Requirement
Series 2021 Certificates of Obligation ( $4,540,000)

DEBT
YEAR ENDING OUTSTANDING Interest
SEPT. 30 OCT. 1 PRINCIPAL Rate INTEREST TOTAL
2024 $4,000,000 $285,000 4.000% $89,050 $374,050
2025 $3,715,000 $295,000 2.000% $80,400 $375,400
2026 $3,420,000 $295,000 2.000% $74,500 $369,500
2027 $3,125,000 $225,000 3.000% $68,175 $293,175
2028 $2,900,000 $230,000 3.000% $61,350 $291,350
2029 $2,670,000 $235,000 3.000% $54,375 $289,375
2030 $2,435,000 $215,000 3.000% $47,625 $262,625
2031 $2,220,000 $220,000 2.000% $42,200 $262,200
2032 $2,000,000 $185,000 2.000% $38,150 $223,150
2033 $1,815,000 $185,000 2.000% $34,450 $219,450
2034 $1,630,000 $190,000 2.000% $30,700 $220,700
2035 $1,440,000 $195,000 2.000% $26,850 $221,850
2036 $1,245,000 $200,000 2.000% $22,900 $222,900
2037 $1,045,000 $200,000 2.000% $18,900 $218,900
2038 $845,000 $205,000 2.000% $14,850 $219,850
2039 $640,000 $210,000 2.000% $10,700 $220,700
2040 $430,000 $215,000 2.000% $6,450 $221,450
2041 $215,000 $215,000 2.000% $2,150 $217,150
$4,000,000 $723,775 $4,723,775

Year Total Principal Interest
This Year's Requirement 2024 $374,050 $285,000 $89,050
Maximum Requirement 2025 $375,400 $295,000 $80,400

Total Outstanding Bonds $4,000,000
Total Original Issue $4,540,000
Issue Date 8/1/2021
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.

$400,000 INTEREST
$350,000 PRINCIPAL
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041

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