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Comprehensive Plan Capital Improvements Element
<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 $149,800,000, with an additional potential
<br />of $296,800,000.
<br />Table 6.14: Indian River County Estimated Ability to Raise Bonds Without A Public Vote
<br />Pledge Sources
<br />Ten Years
<br />(Bond Interest Rate @
<br />4.36%)
<br />Twenty Years
<br />(Bond Interest Rate
<br />(a)4.89%
<br />Thirty Years
<br />(Bond Interest Rate @
<br />4.94%
<br />Half Cent Sales Tax
<br />$49,900,000
<br />$82,300,000
<br />$104,700,000
<br />Gas Taxes
<br />$49,500,000
<br />$78,200,000
<br />$96,200,000
<br />Tourist Tax
<br />$9,000,000
<br />$14,200,000
<br />$17,500,000
<br />First Guaranteed
<br />Entitlement
<br />$1,600,000
<br />$2,600,000
<br />$3,200,000
<br />Second Guaranteed
<br />Entitlement
<br />$3,400,000
<br />$5,400,000
<br />$6,600,000
<br />Sub -Total
<br />$113,400,000
<br />$182,700,000
<br />$228,200,000
<br />Possible Pledge Sources
<br />Franchise Fees
<br />$20,100,000
<br />$31,800,000
<br />$39,100,000
<br />Road Impact Fees
<br />$16,300,000
<br />$24,400,000
<br />$29,500,000
<br />Sub -Total
<br />$36,400,000
<br />$56,200,000
<br />$68,600,000
<br />TOTAL
<br />$149,800,000
<br />$238,900,000
<br />$296,800,000
<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 />6.15. Debt service is payment of principal and interest on obligations resulting from the issuance of
<br />bonds. As table 6.15 indicates, the county's major anticipated outstanding debts are for water and
<br />sewer revenue bonds, environmentally sensitive land acquisition bonds, recreational revenue bonds,
<br />and spring training facility revenue bonds.
<br />Community Development Department Indian River County
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