|
Source: Indian River County Comprehensive Annual Financial Report, Fiscal Year 1991.
<br />(1) These figures were obtained from the Florida Local Governmental Financial Information Handbook.
<br />Historical and Projected Sales Tax Revenues and Debt Service Coverage
<br />FYE Sept. 30
<br />Sales Tax Revenue
<br />Total Actual and Estimated
<br />Maximum Debt Service
<br />Debt Service Coverage
<br />Historical Projected
<br />1988 1989 1990 1991 1992 1993
<br />$2,736,167 $3,149,887 $3,126,095 $3,330,467 $3,564,344(') $3,631,941(')
<br />1,427,156 1,435,456 1,430,944 1,428,598 1,433,604 1,385,456(')
<br />1.92x 2.19x 2.18x 2.33x 2.49x 2.62x
<br />(1) Estimated.
<br />(2) Source: Local Government Financial Handbook, July 1992.
<br />(3) Estimated Maximum Debt Service after issuance of these refunding bonds.
<br />Because distribution of the Half -Cent Sales Tax is based on the population of unincorporated areas
<br />within the County relative to the population of incorporated municipalities within the County, the County's
<br />share of the Sales Tax would be reduced if unincorporated areas of the County were to be annexed by an
<br />existing municipality within the County or if unincorporated areas of the County were to become incorporated
<br />municipalities.
<br />Under Section 165.041, Florida Statutes, a charter for incorporation of a new municipality must be
<br />adopted by a special act of the Florida Legislature, after a determination that certain standards set forth in
<br />Section 165.041, Florida Statutes, have been mel. As applied to any new municipality within the County,
<br />those standards include the following:
<br />(a) The new municipality must have a total population of at least 5,000 persons;
<br />(b) The new municipality must have an average population density of at least 1.5 persons per
<br />acre except under certain extraordinary conditions; and
<br />5
<br />Historical Distribution of the Half -Cent Sales Tax
<br />Year
<br />Half -Cent
<br />Amount
<br />Amount
<br />Ended
<br />Sales
<br />Distributed
<br />Distributed to
<br />Sept. 30
<br />Tax Collected
<br />to Municipalities
<br />Indian River Countv
<br />1986
<br />$2,770,565
<br />$ 774,579
<br />$1,995,986
<br />1987
<br />3,152,453
<br />875,506
<br />2,276,947
<br />1988
<br />4,087,973
<br />1,351,806
<br />2,736,167
<br />1989
<br />4,368,637
<br />1,218,750
<br />3,149,887
<br />1990
<br />4,265,372
<br />1,139,277
<br />3,126,095
<br />1991
<br />4,662,312(1)
<br />1,331,845(1)
<br />3,330,467
<br />1992 (Est.)
<br />5,004,073(1)
<br />1,439,729(1)
<br />3,564,344
<br />1993 (Budgeted) 5,033,770(1)
<br />1,401,829(1)
<br />3,631,941
<br />Source: Indian River County Comprehensive Annual Financial Report, Fiscal Year 1991.
<br />(1) These figures were obtained from the Florida Local Governmental Financial Information Handbook.
<br />Historical and Projected Sales Tax Revenues and Debt Service Coverage
<br />FYE Sept. 30
<br />Sales Tax Revenue
<br />Total Actual and Estimated
<br />Maximum Debt Service
<br />Debt Service Coverage
<br />Historical Projected
<br />1988 1989 1990 1991 1992 1993
<br />$2,736,167 $3,149,887 $3,126,095 $3,330,467 $3,564,344(') $3,631,941(')
<br />1,427,156 1,435,456 1,430,944 1,428,598 1,433,604 1,385,456(')
<br />1.92x 2.19x 2.18x 2.33x 2.49x 2.62x
<br />(1) Estimated.
<br />(2) Source: Local Government Financial Handbook, July 1992.
<br />(3) Estimated Maximum Debt Service after issuance of these refunding bonds.
<br />Because distribution of the Half -Cent Sales Tax is based on the population of unincorporated areas
<br />within the County relative to the population of incorporated municipalities within the County, the County's
<br />share of the Sales Tax would be reduced if unincorporated areas of the County were to be annexed by an
<br />existing municipality within the County or if unincorporated areas of the County were to become incorporated
<br />municipalities.
<br />Under Section 165.041, Florida Statutes, a charter for incorporation of a new municipality must be
<br />adopted by a special act of the Florida Legislature, after a determination that certain standards set forth in
<br />Section 165.041, Florida Statutes, have been mel. As applied to any new municipality within the County,
<br />those standards include the following:
<br />(a) The new municipality must have a total population of at least 5,000 persons;
<br />(b) The new municipality must have an average population density of at least 1.5 persons per
<br />acre except under certain extraordinary conditions; and
<br />5
<br />
|