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Comprehensive Plan Capital Improvements Element
<br />for 10, 20, and 30 years. As table 6.14 indicates, the County's available bonding capacity for a 10
<br />year issue is $215,300,000, while its bonding capacity for a 30 year issue is $510,200,000.
<br />Table 6.14: Indian River County Estimated Ability to Raise Bonds Without A Public Vote
<br />Pledge Sources
<br />Ten Years
<br />(Bond Interest Rate (a.)
<br />1.46%)
<br />Twenty Years
<br />(Bond Interest Rate (a,
<br />1.98%
<br />Thirty Years
<br />(Bond Interest Rate (a,
<br />2.16%
<br />Half Cent Sales Tax
<br />$76,800,000
<br />$139,600,000
<br />$190,100,000
<br />Gas Taxes
<br />$56,000,000
<br />$99,500,000
<br />$123,400,000
<br />Tourist Tax
<br />$16,500,000
<br />$29,500,000
<br />$39,500,000
<br />County Revenue Program
<br />First Guaranteed
<br />Entitlement
<br />$1,900,000
<br />$3,400,000
<br />$4,500,000
<br />County Revenue Program
<br />Second Guaranteed
<br />Entitlement
<br />$3,900,000
<br />$7,000,000
<br />$9,300,000
<br />Sub -Total
<br />$155,100,000
<br />$279,000,000
<br />$366,800,000
<br />Possible Pledge Sources
<br />Franchise Fees
<br />$42,600,000
<br />$75,700,000
<br />$101,300,000
<br />Road Impact Fees
<br />$17,600,000
<br />$31,400,000
<br />$42,100,000
<br />Sub -Total
<br />$60,200,000
<br />$107,100,000
<br />$143,400,000
<br />TOTAL
<br />$215,300,000
<br />$386,100,000
<br />$510,200,000
<br />'Rates are comparable term AAA rated municipal bond yields as of 9/2/2016.
<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 Indian River County
<br />Adopted , 2016, Ordinance 2016- 36
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