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Ordinance No. 2014-020
<br />Comprehensive Plan Capital Improvements Element
<br />Table 6.14 identifies the amount of revenue that the County can raise by issuing revenue bonds.
<br />Those bonds can be issued without a public vote. That table identifies the County's bonding capacity
<br />for 10, 20, and 30 years. As table 6.14 indicates, the County's available bonding capacity for a 10 year
<br />issue is $182,700,000, while its bonding capacity for a 30 year issue is $401,700,000.
<br />Table 6.14: Indian River County Estimated bility to Raise Bonds Without A Public Vote
<br />Pledge Sources
<br />Ten Years
<br />(Bond Interest Rate @
<br />2.15%)
<br />Twenty Years
<br />(Bond Interest Rate @
<br />2.83%)
<br />Thirty Years
<br />(Bond Interest Rate @
<br />3.11%)
<br />Half Cent Sales Tax
<br />$62,700,000
<br />$109,300,000
<br />$142,800,000
<br />Gas Taxes
<br />$49,000,000
<br />$83,000,000
<br />$103,800,000
<br />Tourist Tax
<br />$12,400,000
<br />$21,200,000
<br />$27,100,000
<br />County Revenue
<br />Program First
<br />Guaranteed Entitlement
<br />$1,800,000
<br />$3,100,000
<br />$4,000,000
<br />County Revenue
<br />Program Second
<br />Guaranteed Entitlement
<br />$3,800,000
<br />$6,400,000
<br />$8,200,000
<br />Sub -Total
<br />$129,700,000
<br />$223,000,000
<br />$285,900,000
<br />Possible Pledge Sources
<br />Franchise Fees
<br />$40,000,000
<br />$68,100,000
<br />$87,100,000
<br />Road Impact Fees
<br />$13,000,000
<br />$22,300,000
<br />$28,700,000
<br />Sub -Total
<br />$53,000,000
<br />$90,400,000
<br />$115,800,000
<br />TOTAL
<br />$182,700,000
<br />$313,400,000
<br />$401,700,000
<br />*Rates are comparable tern AAA rated municipal bond yields as of 9/4/14.
<br />Source: Indian River County Office of Management and Budget.
<br />• Debt Service Obligations
<br />In table 6.15, 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 6.15 indicates, the County's major anticipated outstanding debts are for
<br />water and sewer revenue bonds, environmentally sensitive land acquisition bonds, and spring training
<br />facility revenue bonds.
<br />Community Development Department
<br />Adopted , 2014, Ordinance 2014 -
<br />Indian River County
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