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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 $221,400,000, while its bonding capacity for a 30 year issue is $487,300,000.
<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 />1.85%)
<br />Twenty Years
<br />(Bond Interest Rate @
<br />2.50%)
<br />Thirty Years
<br />(Bond Interest Rate @
<br />2.70%
<br />Half Cent Sales Tax
<br />$81,800,000
<br />$143,300,000
<br />$188,300,000
<br />Gas Taxes
<br />$57,500,000
<br />$99,000,000
<br />$114,400,000
<br />Tourist Tax
<br />$16,800,000
<br />$28,900,000
<br />$37,800,000
<br />County Revenue Program
<br />First Guaranteed
<br />Entitlement
<br />$1,900,000
<br />$3,200,000
<br />$4,200,000
<br />County Revenue Program
<br />Second Guaranteed
<br />Entitlement
<br />$3,900,000
<br />$6,600,000
<br />$8,700,000
<br />Sub -Total
<br />$161,900,000
<br />$281,000,000
<br />$353,400,000
<br />Possible Pledge Sources
<br />Franchise Fees
<br />$40,700,000
<br />$70,000,000
<br />$91,500,000
<br />Road Impact Fees
<br />$18,800,000
<br />$32,400,000
<br />$42,400,000
<br />Sub -Total
<br />$59,500,000
<br />$102,400,000
<br />$133,900,000
<br />TOTAL
<br />$221,400,000
<br />$383,400,000
<br />$487,300,000
<br />*Rates are comparable term AAA rated municipal bond yields as of 9/5/2017.
<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 December 5, 2017, Ordinance 2017-015 36
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