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The 2017 certificates of obligation are paid 79% through ad valorem tax revenue and 21%
through golf course revenue. The original issue was $1,743,000, payable through the Bank of
New York Mellon Trust Company, and are callable beginning August 15, 2024.
The 2019 general obligation bonds are paid 100% through ad valorem tax revenue. The
original issue was $3,625,000, payable through the Bank of New York Mellon Trust Company,
and are callable beginning August 15, 2028.
The 2022 general obligation bonds are paid 78% through utility revenue and 22% through golf
course revenue. The original issue was $3,230,000, payable through the Bank of New York
Mellon Trust Company, and are callable beginning August 15, 2031.
Debt Service Fund Detail
Budget Projected Projected
ACCT 2026 2027 2028
Debt Service Revenue
Ad Valorem Tax
05-500-555000 Ad Valorem Tax transfer $ 891,020 $ 895,240 $ 898,532
Total Ad Valorem Tax $ 891,020 $ 895,240 $ 898,532
Miscellaneous Revenue
05-500-565120 Water Fund Payments $ 25,424 $ 25,382 $ 25,662
05-500-565125 HCGC Payments $ 109,865 $ 109,705 $ 110,542
Total Miscellaneous Revenue $ 135,289 $ 135,087 $ 136,204
Total Debt Service Revenue $ 1,026,309 $ 1,030,327 $ 1,034,736
Debt Service Expenses
Debt Service
05-650-655001 Principal $ 805,010 $ 821,120 $ 836,766
05-650-655002 Interest $ 86,010 $ 74,120 $ 61,766
05-650-655003 Bank Fees $ 2,000 $ 2,000 $ 2,000
Total Debt Service $ 893,020 $ 897,240 $ 900,532
Total Debt Service Expenses $ 893,020 $ 897,240 $ 900,532
Net Total Debt Service $ 133,289 $ 133,087 $ 134,204
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