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<br />Table 15 <br />Redwood City Water Financing Plan <br />Additional Debt Test for Series 2007 Bonds <br /> <br />2007 Update <br /> <br />Projected Bond Issue <br />Issuance Date <br />Principal Amount <br />Project Funding <br /> <br />Jun-07 <br />$15,225,000 <br />13,850,000 <br /> <br />Net Rate Adjustment Effective 08/04/06 (conservative estimate) <br /> <br />9.0% <br /> <br />Additional Debt Test <br />Service Charge Revenues from 2005/06 <br />Other Revenues from 2005/06 <br />Addrrional Revenues (from Rate Increases Effective 08/04/06} 1 <br />Total Adjusted Revenues <br /> <br />20,983,930 <br />998,600 <br />1,888,554 <br />23,871,084 <br /> <br />O&M expenses from prior year <br />O&M adjustments <br /> <br />Total test O&M expenses <br /> <br />16,335,105 <br />Q <br />16,335,105 <br /> <br />Adjusted net revenues <br /> <br />7,535,979 <br /> <br />Projected Maximum Annual Debt Service <br /> <br />4,678,300 <br /> <br />Add'l Debt Test Coverage <br /> <br />1.61 <br /> <br />1 Estimated additional revenues that would have been recovered if rate increases adopted 08/04/06 <br />had been in effect for the entire 2005/06 fiscal year. <br /> <br />BARTLE WELLS ASSOCIA TES <br />F:\JobsIRedwood City11921\ \Water Financial Plan Update 2007 F\Addl DebtTest,4/12/2007.6:52 PM <br /> <br />Be <br />Page 122 <br /> <br />Attachment 5 <br />