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HISTORICAL AND ESTIMATED REVENUES AND <br />DEBT SERVICE COVERAGE (1) <br />The following table sets forth the historical and estimated <br />Pledged Funds of the County for the Fiscal Years indicated. <br />Gross Revenues <br />Cost of Operation <br />and Maintenance <br />Net Revenues <br />Racetrack and <br />Jai Alai <br />Fronton Funds <br />Excess Half -Cent <br />Sales Tax (4) <br />Total Pledged <br />Funds <br />Maximum Annual <br />Debt Service (5) <br />HISTORICAL <br />(2) <br />1988 1989 <br />1,125,389 1,313,313 <br />841.915 <br />283,474 <br />446,500 <br />963.418 <br />349,895 <br />1990, <br />BUDGETED ESTIMATED <br />(3) (3) <br />1221 1992 <br />1,526,621 1,507,480 1,555,180 <br />1.098.544 1.291.283 1.174.486 <br />428,077 216,197 380,694 <br />446,500 446,500 446,500 446,500 <br />1.309,011 1.714.130 1.689.862 2.150.647 2.165.454 <br />2,038,985 2 <br />76-.8)3•/c1 <br />-7-0155440- <br />Ratio of Total <br />Pledged Funds <br />to Maximum Annual 2,G�` <br />Debt Service <br />(5) <br />,510,525 2 <br />76ki 8/(-1 <br />,564,439 2,813,344 <br />-7(g)8114 "762)g/ tf <br />'7, j o <br />7_68-x550 <br />7-68-55-0 <br />3, 2) 3,31- <br />3-644- <br />2,992,148 <br />nmay <br />50 <br />Fiscal Years ended or ending September 30. <br />Based on County's Audited Financial Statements. <br />Based upon the County's budget for the fiscal year ending <br />September 30, 1991, and the County's preliminary budget for <br />the fiscal year ending September 30, 1992. <br />Half -Cent Sales Tax revenues remaining after payment of debt <br />service on the Senior Half -Cent Sales Tax Bonds. This does <br />not include debt service from additional bonds which may be <br />issued under the Half -Cent Sales Tax Resolution. See the <br />caption "THE SENIOR HALF -CENT SALES TAX BONDS" herein. <br />Maximum Annual Debt Service on the Series 1991 Bonds.-. <br />assuating-azraverage-interest-rate-or7-;15% and the Parity Bonds. <br />25 <br />