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<br />Table 15
<br />Redwood City Water Financing Plan
<br />Additional Debt Test
<br /> 2005/06 2006/07 2007/08 2008/09
<br />Projected Bond Issues
<br />Issuance Date Feb-06 Feb-07 Feb-08 Feb-09
<br />Principal Amount $26,000,000 $11,140,000 $7,125,000 $14,280,000
<br />Rate Adjustments 12% 12% 10% 8%
<br />Effective Date 07/01/05 07/01/06 07/01/07 07/01/08
<br />Additional Debt Test
<br />Rate revs from prior year 15,731,350 18,909,000 20,951,000 22,668,000
<br />Other revs from prior year 933,136 1,012,100 823,000 821,000
<br />Add') revs from adopted rate increases 1,887,762 2,269,080 2,095,100 1,813,440
<br />Add'i revs from other fee increases Q Q Q Q
<br />Total test revenues 18,552,248 22,190,180 23,869,100 25,302,440
<br />O&M expenses from prior year 13,838,208 14,948,669 15,911,400 16,517,400
<br />O&M adjustments Q Q Q Q
<br />Total test O&M expenses 13,838,208 14,948,669 15,911,400 16,517,400
<br />Adjusted net revenues 4,714,040 7,241,511 7,957,700 8,785,040
<br />Projected Max Annual Debt SV( 3,841,000 4,607,000 5,097,000 6,080,000
<br />Add' Debt Test Coverage 1.23 1.57 1.56 1.44
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<br />BARTLE WELLS ASSOC/A TES
<br />F:\Jobs\Redwood City\1921\ \Redwood City Tables 1-13-06\Addl Debt Test, 1/13/2006,3: 17 PM
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