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Comprehensive Plan Capital Improvements Element
<br />for 10, 20, and 3 0 years. As table 6.14 indicates, the County's available bonding capacity for a 10 year
<br />issue is$222,800,000, while its bonding capacity for a 30 year issue is$488,800,000.
<br />Table 6.14: Indian River County Estimated Abili to Raise Bonds Without A Public Vote
<br />Pledge Sources
<br />Ten Years
<br />(Bond Interest Rate @
<br />2.45%)
<br />Twenty Years
<br />(Bond Interest Rate
<br />@ 2.90%)
<br />Thirty Years
<br />(Bond Interest Rate @
<br />3.00%)
<br />Half Cent Sales Tax
<br />$84,100,000
<br />$146,700,000
<br />$192,700,000
<br />Gas Taxes
<br />$56,900,000
<br />$97,400,000
<br />$113,000,000
<br />Tourist Tax
<br />$18,200,000
<br />$31,300,000
<br />$40,900,000
<br />County Revenue Program
<br />First Guaranteed Entitlement
<br />$1,800,000
<br />$3,100,000
<br />$4,000,000
<br />County Revenue Program
<br />Second Guaranteed
<br />Entitlement
<br />$3,700,000
<br />$6,400,000
<br />$8,300,000
<br />Sub -Total
<br />$164,700,000
<br />$284,900,000
<br />$358,900,000
<br />Possible Pledge Sources
<br />Franchise Fees
<br />$39,600,000
<br />$67,800,000
<br />$88,500,000
<br />Road Impact Fees
<br />$18,500,000
<br />$31,700,000
<br />$41,400,000
<br />Sub -Total
<br />$58,100,000
<br />$99,500,000
<br />$129,900,000
<br />TOTAL
<br />$222,800,000
<br />$384,400,000
<br />$488,800,000
<br />*Rates are comparable term AAA rated municipal bond yields as of 8/27/2018.
<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 4, 2018, Ordinance 2018-025 37
<br />
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