|
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 $166,900,000, while its bonding capacity for a 30 year issue is $317,500,000.
<br />Table 6.14: Indian River Conn' `Estimated 1 6W to talcr, Bonds Without A Public Vote
<br />Teri "Years
<br />Twenty Years
<br />Tl>lirty ears
<br />(Bond "Interest Rate @ ;
<br />3ond iterest fie @
<br />; (Bond_Interest Rate @
<br />Pledge Sources
<br />-3:00%)
<br />4.72%
<br />Half Cent Sales Tax
<br />$56,500,000
<br />$91,100,000
<br />$113,300,000
<br />Gas Taxes
<br />$47,900,000
<br />$73,500,000
<br />$87,700,000
<br />Tourist Tax
<br />$10,700,000
<br />$16,500,000
<br />$20,000,000
<br />County Revenue
<br />Program First
<br />Guaranteed Entitlement
<br />$1,800,000
<br />$2,700,000
<br />$3,300,000
<br />County Revenue
<br />Program Second
<br />Guaranteed Entitlement
<br />$3,600,000
<br />$5,600,000
<br />$6,800,000
<br />Sub -Total
<br />$120,500,000
<br />$189,400,000
<br />$231,100,000
<br />Possible Pledge Sources
<br />Franchise Fees
<br />$36,500,000
<br />$56,000,000
<br />$67,900,000
<br />Road Impact Fees
<br />$9,900,000
<br />$15,200,000
<br />$18,500,000
<br />Sub -Total
<br />$46,400,000
<br />$71,200,000
<br />$86,400000
<br />TOTAL
<br />$166 900,000
<br />$260,600,000
<br />$317,500,000
<br />*Rates are comparable term AAA rated municipal bond yields as of 8/28/13.
<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 , 2013, Ordinance 2013 -
<br />Indian River County
<br />37
<br />
|