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Comprehensive Plan Capital Improvements Element
<br />Projected Debt Capacity
<br />Debt Financing, which involves borrowing money using the county's assets as collateral, is one way
<br />that the county has provided for its capital facility needs. The primary rationale for providing capital
<br />facilities through indebtedness is that it spreads the cost of a facility over its useful life and thus is
<br />paid for by those who will use the facility.
<br />Table 6.14 provides a summary of the county's estimated ability to raise bonds without a public vote.
<br />The county's bonding capacity is identified for 10, 20, and 30 years. As table 6.14 indicates, the
<br />county's available bonding capacity for the next 10 years is $118,600,000, with an additional potential
<br />of $355,800,000.
<br />Table 6.14: Indian River County Estimated Ability to Raise Bonds Without A Public Vote
<br />Pledge Sources
<br />Half Cent Sales Tax
<br />Gas Taxes
<br />Tourist Tax
<br />First Guaranteed
<br />Entitlement
<br />Second Guaranteed
<br />Entitlement
<br />Sub -Total
<br />Possible Pledge Sources
<br />Franchise Fees
<br />Road Impact Fees
<br />Sub -Total
<br />TOTAL
<br />Ten Years
<br />(Bond Interest Rate @
<br />3.56°/x)
<br />$49,500,000
<br />$53,600,000
<br />$10,300,000
<br />$1,700,000
<br />$3,500,000
<br />$118,600,000
<br />$22,700,000
<br />$13,100,000
<br />$35,800,000
<br />$154,400,000 I
<br />Source: Indian River County Office of Management and Budget.
<br />Community Development Department
<br />Supplement #_; Ordinance 2005 -
<br />Twenty Years
<br />(Bond Interest Rate
<br />@4.24%)
<br />$88,300,000
<br />$93,200,000
<br />$18,200,000
<br />$2,700,000
<br />$5,700,000
<br />$208,100,000
<br />$40,000,000
<br />$21,300,000
<br />$61,300,000
<br />Thirty Years
<br />(Bond Interest Rate @
<br />4.42%)
<br />$118,700,000
<br />$122,400,000
<br />$24,800,000
<br />$3,400,000
<br />$7,000,000
<br />$276,300,000
<br />$53,000,000
<br />$26,500,000
<br />$79,500,000
<br />$269,400,0001 $355,800,000
<br />Indian River County
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