FY 2020 Budget

2019-2020 Annual Budget DEBT SERVICE FUND

2013

2018

2014

2017 SRF

GO PURPOSE GO PURPOSE

REDLG

REFUNDING

LOAN

4TH AVE W

Original Issuance

2,245,000

1,500,000

360,000

1,477,999

Maturity Date of Debt

6/1/2022

6/1/2028

7/15/2025

6/1/2037

Amounts Remaining as of July 1, 2019 Principal Payments Remaining

300,000

1,180,000

216,000

1,439,000

Interest Remaining

8,350

181,800

-

252,543

REVENUE Debt Levy per Debt Issuance

(77,500)

(154,700)

(94,341)

Other Financing

Tax Increment Financing

(26,000)

County E-911 Board

(36,000)

Debt Service Fund Reserves Sewer Revenues

TOTAL REVENUES

(103,500)

(154,700)

(36,000)

(94,341)

EXPENDITURES Principal Payment Interest Payment

100,000

120,000 34,200

36,000

66,000 24,798

3,000

- -

Registrar / Servicing Fees

500

500

3,543

Other Financing Transfers Out

-

-

TOTAL EXPENDITURES

103,500

154,700

36,000

94,341

(EXCESS) DEFICIENCY OF REVENUE (OVER) UNDER EXPENDITURES

-

-

-

-

(1) The City anticipates issuing debt in FY 19-20 Budget for the acquisition and remodel of property to be utilized as City Hall. The Pre-Levy is designed to be used to make the initial Principal and/or Interest Payment for this debt issuance on June 1, 2019.

(2) At the time of adoptino of the FY 19-20 Budget, the City has not closed out the 2018 SRF 4th Ave Phase II loan. The maount lsisted for Principal and Interest are estimates based upon the City's application to the SRF progam. Final schedule of payments will be known once the loan has been closed.

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