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Comprehensive Plan Capital Improvements Element
<br />Proiected Debt Capacity
<br />Debt Financing is one way that the county has provided for its capital facility needs. The primary
<br />rationale for providing capital facilities through indebtedness is that it spreads the cost of a facility
<br />over its useful life and thus is paid for by those who will use the facility.
<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 $189,000,000, while its bonding capacity for a 30 year issue is $409,700,000.
<br />Table 6.14: Indian
<br />River Cou", .Estimated' flity, to Raise. Bonds; W'ltk6 A 0ub>�
<br />Pledge $aurces
<br />TetiNears :,
<br />(Bond Interest Rate '@
<br />2:23°fa)
<br />Twenty,Years a
<br />(Bond Inters"st Rated
<br />.(BanT°„�
<br />in ate"
<br />3A3, '^ _
<br />Half Cent Sales Tax
<br />$68,700,000
<br />$119,300,000
<br />$155,000,000
<br />Gas Taxes
<br />$45,900,000
<br />$77,900,000
<br />$93,300,000
<br />Tourist Tax
<br />$14,400,000
<br />$24,400,000
<br />$31,200,000
<br />County Revenue Program
<br />First Guaranteed
<br />Entitlement
<br />$1,800,000
<br />$3,100,000
<br />$4,000,000
<br />County Revenue Program
<br />Second Guaranteed
<br />Entitlement
<br />$3,800,000
<br />$6,400,000
<br />$8,200,000
<br />Sub -Total
<br />$134,600,000
<br />$231,100,000
<br />$291,700,000
<br />Possible Pledge Sources
<br />Franchise Fees
<br />$39,400,000
<br />$66,900,000
<br />$85,500,000
<br />Road Impact Fees
<br />$15,000,000
<br />$25,400,000
<br />$32,500,000
<br />Sub -Total
<br />$54,400,000
<br />$92,300,000
<br />$118,000,000
<br />TOTAL
<br />$189,000,000
<br />$323,400,000
<br />$409,700,000
<br />*Rates are comparable term AAA rated municipal bond yields as of 8/27/2015.
<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 />Community Development Department Indian River County
<br />Adopted n < < - 1 , 2015, Ordinance 2015-0 37
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