EXHIBIT 11-D

 

 

 

  Calculation of Debt Service

 

 

 

 

 

 

Principal

 

 

Total

 

Outstanding

Principal Due

Interest Due

Debt Service

2013

$3,923,781

$76,219

$144,000

$220,219

2014

$3,844,819

$78,963

$141,256

$220,219

2015

$3,763,014

$81,805

$138,413

$220,219

2016

$3,678,263

$84,750

$135,468

$220,219

2017

$3,590,462

$87,801

$132,417

$220,219

2018

$3,499,500

$90,962

$129,257

$220,219

2019

$3,405,263

$94,237

$125,982

$220,219

2020

$3,307,634

$97,629

$122,589

$220,219

2021

$3,206,490

$101,144

$119,075

$220,219

2022

$3,101,705

$104,785

$115,434

$220,219

2023

$2,993,148

$108,557

$111,661

$220,219

2024

$2,880,682

$112,465

$107,753

$220,219

2025

$2,764,168

$116,514

$103,705

$220,219

2026

$2,643,460

$120,709

$99,510

$220,219

2027

$2,518,406

$125,054

$95,165

$220,219

2028

$2,388,849

$129,556

$90,663

$220,219

2029

$2,254,629

$134,220

$85,999

$220,219

2030

$2,115,577

$139,052

$81,167

$220,219

2031

$1,971,519

$144,058

$76,161

$220,219

2032

$1,822,275

$149,244

$70,975

$220,219

2033

$1,667,659

$154,617

$65,602

$220,219

2034

$1,507,476

$160,183

$60,036

$220,219

2035

$1,341,526

$165,950

$54,269

$220,219

2036

$1,169,602

$171,924

$48,295

$220,219

2037

$991,489

$178,113

$42,106

$220,219

2038

$806,964

$184,525

$35,694

$220,219

2039

$615,796

$191,168

$29,051

$220,219

2040

$417,746

$198,050

$22,169

$220,219

2041

$212,566

$205,180

$15,039

$220,219

2042

$0

$212,566

$7,652

$220,219

 

 

$4,000,000

$2,606,561

$6,606,561

 

 

 

 

 

 

 

 

 

 

Bond Sizing:

 

 

 

Reimburse Reserves Used for ASR

1,463,562

 

Pay Credit Line

 

725,063

 

Deposit to Water Supply Capital Account

1,496,102

 

Deposit to Rate Stabilization Fund

55,055

 

Debt Service Reserve Fund

220,219

 

Debt Issuance Costs

 

40,000

 

Balancing Amount

 

0

 

  Issuance Amount

 

4,000,000

 

 

 

 

 

 

 

 

 

 

 

Assumptions:

 

 

 

  Maturity of Bonds

 

30

 years

  Interest-Only Period

 

0

 years

  Interest Rate on Bonds

3.60%

 

 

 

 

 

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