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Land Acquisition Bonds - 2004 Referendum Total debt service expenses are budgeted at $4,684,226, which is an increase of $95,518, or 2.1 %. The millage rate is 0.2827, which is a decrease of $1.28 per $100,000 of taxable value or 4.33% (page 36). Solid Waste Disposal District (SWDD) NOTE: The Solid Waste Disposal District and Enterprise budgets are presented in accordance with Generally Accepted Accounting Principles (GAAP). As a result, depreciation is included as a budgeted expense, while capital outlay and debt service principal payments are excluded. The total proposed SWDD budget is $15,587,145, which is an increase of $541,500 or 3.6% (page 38). Proposed residential assessment rates are increasing by $7.75 or 7.1 % to $116.85 per Equivalent Residential Unit. Commercial rates are increasing by $2.83 or 7.5% to $40.50 per Waste Generation Unit (W.G.U). The proposed readiness -to -use fee is $24.60 per W.G.U, an increase of $3.01 from lastfiscal year. Assessment rates are impacted by inflationary adjustments in garbage collection, landfill operations, County Building recycling, and yard waste processing contracts as well as a slight decrease in the SWDD assessment roll. Depreciation is increasing by $234,000 due to closure of Segment II. In addition, staff proposes an allocation of $500,000 in a sinking fund for future landfill expansion to meet the long-term waste disposal needs in Indian River County. The capital budget includes $6 million to initiate the design, permitting, and construction of Cell II, Segment 3 at the County landfill site on Oslo Road. This project is important as it builds future landfill capacity for garbage disposal in Indian River County 14