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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 6.16 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 6.16 indicates, the
<br />county s available bonding capacity for the next 10 years is $164,700,000, with an additional potential
<br />of $301,400,000.
<br />Tab
<br />CIO :�1G
<br />Indlap
<br />.iyer
<br />County, Estrmatea'Ab
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<br />i
<br />lhty�tgRa><se
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<br />Wrthout,A"LPubl><cV,ote,.
<br />, 4
<br />Bori`ds
<br />ledge
<br />`
<br />SoulCes
<br />Ten
<br />(Bond
<br />Interest
<br />•
<br />4.60%)
<br />, tt -
<br />Years
<br />Rate)@
<br />a
<br />�'
<br />�
<br />s
<br />rt y1 Y ti
<br />Twenty
<br />n
<br />nd iieresta
<br />@$ 6
<br />x 9 ary
<br />Years��
<br />4a
<br />'%) ..
<br />"t t b
<br />,
<br />° ''
<br />R a 4
<br />� Thu ty Years
<br />(Bond'Irite t
<br />res
<br />R at
<br />e @
<br />Half Cent Sales Tax
<br />$43,900,000
<br />$69,900,000
<br />$85,600,000
<br />Gas Taxes
<br />$47,400,000
<br />$71,300,000
<br />$84,700,000
<br />Tourist Tax
<br />$8,600,000
<br />$12,900,000
<br />$15,300,000
<br />First Guaranteed
<br />Entitlement
<br />$1,600,000
<br />$2,400,000
<br />$2,900,000
<br />Second Guaranteed
<br />Entitlement
<br />$3,400,000
<br />$5,000,000
<br />$6,000,000
<br />Sub -Total
<br />$104,900,000
<br />$161,500,000
<br />$194,500,000
<br />Possible Pledge Sources
<br />Franchise Fees
<br />$35,000,000
<br />$52,700,000
<br />$62,600,000
<br />Road Impact Fees
<br />$24,800,000
<br />$37,300,000
<br />$44,300,000
<br />Sub -Total
<br />$59,800,000
<br />$90,000,000
<br />$106,900,000
<br />TOTAL
<br />$164,700,000
<br />$251,500,000
<br />$301,400,000
<br />Source: Indian River County Office of Management and Budget.
<br />• Debt Service Obligations
<br />The county's debt service obligations for current and anticipated bond issues are summarized in table
<br />6.17. Debt service is payment of principal and interest on obligations resulting from the issuance of
<br />Community Development Department
<br />Supplement #13; Adopted November 18, 2008, Ordinance 2008-018
<br />Indian River County
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