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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 Ability to Raise Bonds Without A Public Vote
<br /> Ten Years Twenty Years Thirty Years
<br /> Pledge Sources (Bond Interest Rate @ (Bond Interest Rate @ (Bond Interest Rate @
<br /> 1.85%) 2.50%) 2.70%)
<br /> Half Cent Sales Tax $81,800,000 $143,300,000 $188,300,000
<br /> Gas Taxes $57,500,000 $99,000,000 $114,400,000
<br /> Tourist Tax $16,800,000 $28,900,000 $37,800,000
<br /> County Revenue Program
<br /> First Guaranteed $1,900,000 $3,200,000 $4,200,000
<br /> Entitlement
<br /> County Revenue Program
<br /> Second Guaranteed $3,900,000 $6,600,000 $8,700,000
<br /> Entitlement
<br /> Sub-Total $161,900,000 $281,000,000 $353,400,000
<br /> Possible Pledge Sources
<br /> Franchise Fees $40,700,000 $70,000,000 $91,500,000
<br /> Road Impact Fees $18,800,000 $32,400,000 $42,400,000
<br /> Sub-Total $59,500,000 $102,400,000 $133,900,000
<br /> TOTAL $221,400,000 $383,400,000 $487,300,000
<br /> *Rates are comparable teen 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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