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Comprehensive Plan Capital Improvements Element
<br />Table 6.15 identifies the amount of revenue that the county can raise by issuing revenue bonds. Those
<br />bonds can be issued without a public vote. That table identifies the county's bonding capacity for 10,
<br />20, and 30 years. As table 6.15 indicates, the county's available bonding capacity for a 10 year issue
<br />is $164,300,000, while its bonding capacity for a 30 year issue is $344,900,000.
<br />Table 6.15: Indian River County Estimated Ability to Raise Bonds Without A Public Vote
<br />Pledge Sources
<br />Ten Years
<br />(Bond Interest Rate @
<br />2.07%)
<br />Twenty Years
<br />(Bond Interest Rate @
<br />3.36% 0)
<br />Thirty Years
<br />(Bond Interest Rate @ `
<br />3.61%)
<br />Half Cent Sales Tax
<br />$52,000,000
<br />$89,500,000
<br />$117,100,000
<br />Gas Taxes
<br />$51,500,000
<br />$82,800,000
<br />$104,400,000
<br />Tourist Tax
<br />$9,600,000
<br />$15,400,000
<br />$19,400,000
<br />County Revenue
<br />Program First
<br />Guaranteed Entitlement
<br />$1,800,000
<br />$3,000,000
<br />$3,700,000
<br />County Revenue
<br />Program Second
<br />Guaranteed Entitlement
<br />$3,800,000
<br />$6,100,000
<br />$7,700,000
<br />Sub -Total
<br />$118,700,000
<br />$196,800,000
<br />$252,300,000
<br />Possible Pledge Sources
<br />Franchise Fees
<br />$38,600,000
<br />$62,100,000
<br />$78,300,000
<br />Road Impact Fees
<br />$7,000,000
<br />$11,300,000
<br />$14,300,000
<br />Sub -Total
<br />$45,600,000
<br />$73,400,000
<br />$92,600,000
<br />TOTAL
<br />$164,300,000
<br />$270,200,000
<br />$344,900,000
<br />*Rates are comparable term AAA rated municipal bond yields as of 9/15/11.
<br />Source: Indian River County Office of Management and Budget.
<br />• Debt Service Obligations
<br />In table 6.16, 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 6.16 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 _, 2011, Ordinance 2011-_
<br />Indian River County
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