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Comprehensive Plan Capital Improvements Element
<br />Table 6.16: Indian River County Estimated Ability to Raise Bonds Without A Public Vote
<br />Pledge Sources
<br />Ten Years
<br />(Bond Interest Rate @
<br />2.54%)
<br />Twenty Years
<br />(Bond Interest Rate @
<br />3.80%)
<br />Thirty Years
<br />(Bond Interest Rate @
<br />4.11%
<br />Half Cent Sales Tax
<br />$47,300,000
<br />$80,300,000
<br />$102,800,000
<br />Gas Taxes
<br />$49,800,000
<br />$78,900,000
<br />$97,300,000
<br />Tourist Tax
<br />$9,500,000
<br />$15,000,000
<br />$18,500,000
<br />First Guaranteed
<br />Entitlement
<br />$1,800,000
<br />$2,800,000
<br />$3,500,000
<br />Second Guaranteed
<br />Entitlement
<br />$3,700,000
<br />$5,900,000
<br />$7,300,000
<br />Sub -Total
<br />$112,100,000
<br />$182,900,000
<br />$229,400,000
<br />Possible Pledge Sources
<br />Franchise Fees
<br />$40,100,000
<br />$63,500,000
<br />$78,300,000
<br />Road Impact Fees
<br />$7,900,000
<br />$12,500,000
<br />$15,400,000
<br />Sub -Total
<br />$48,000,000
<br />$76,000,000
<br />$93,700,000
<br />TOTAL
<br />$160,100,000
<br />$258,900,000
<br />$323,100,000
<br />*Rates are comparable term AAA rated municipal bond yields as of 9/21/10.
<br />Source: Indian River County Office of Management and Budget.
<br />Debt Service Obligations
<br />In table 6.17, the county's debt service obligations for current and anticipated bond issues are
<br />summarized. Debt service is payment of principal and interest on obligations resulting from the
<br />issuance of bonds. As table 6.17 indicates, the county's major anticipated outstanding debts are for
<br />water and sewer revenue bonds, environmentally sensitive land acquisition bonds, recreational
<br />revenue bonds, and spring training facility revenue bonds.
<br />Community Development Department
<br />Adopted November 2, 2010, Ordinance 2010-024
<br />Indian River County
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