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City of Redwood City Water Rate Study 6. Debt ServiceFY 2024-25 FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 FY 2032-33 FY 2033-34 FY 2034-35 NotesSeries 2015 Refunding BondsPrincipal$985,000 $1,025,000$1,065,000 $1,095,000 $1,130,000 $1,165,000 $1,200,000 $1,240,000 $1,280,000$1,325,000 $1,370,000Interest$435,644 $396,244 $355,244 $323,294 $290,444 $256,544 $220,138 $181,138$140,838 $96,038 $49,663Total $1,420,644 $1,421,244 $1,420,244 $1,418,294 $1,420,444 $1,421,544 $1,420,138 $1,421,138 $1,420,838 $1,421,038 $1,419,663Series 2017 Refunding BondsPrincipal$320,000 $335,000 $355,000 $370,000 $385,000 $405,000 $420,000 $430,000 $445,000 $460,000 $480,000Interest$175,419 $159,419 $142,669 $124,919 $106,419 $87,169 $75,019 $61,894$47,919 $32,900 $16,800Total $495,419 $494,419 $497,669 $494,919 $491,419 $492,169 $495,019 $491,894 $492,919 $492,900 $496,800Series 2024 Refunding BondsPrincipal$1,200,000 $1,205,000 $1,260,000 $1,325,000 $1,395,000 $1,460,000 $1,530,000 $1,610,000 $1,690,000 $1,770,000Refinanced in FY 2024-25Interest$264,825 $662,250 $602,000 $539,000$472,750 $403,000 $330,000$253,500 $173,000 $88,500Total $1,464,825 $1,867,250 $1,862,000 $1,864,000 $1,867,750 $1,863,000 $1,860,000 $1,863,500 $1,863,000 $1,858,500$0Future Debt Service - Loan 1Total$0$0$0$0$0$0 $1,650,680 $1,650,680 $1,650,680 $1,650,680 $1,650,680Future AssumptionFuture Debt Service - Loan 2Total$0$0$0$0$0$0$0$0$0$0$0Future Debt Service - Loan 3Total$0$0$0$0$0$0$0$0$0$0$0Interfund LoanPrincipal$0$0$0$0$0$0$0$0$0$0$0Interest$0$0$0$0$0$0$0$0$0$0$0Total$0$0$0$0$0$0$0$0$0$0$0Debt Coverage CalculationFunds Available for Debt ServiceRate Revenue$47,865,571 $51,236,452 $54,538,877 $57,530,573 $60,407,102 $63,118,054 $65,803,666 $68,764,831 $71,683,553 $74,550,895 $76,028,571 From Table 3 Non-Operating Income$1,599,296 $1,648,725 $1,699,695 $1,752,254 $1,806,452 $1,862,342 $1,919,977 $1,979,411 $2,040,701 $2,103,907 $2,169,088 From Table 2 Interest Income $407,701 $352,856$315,027 $275,464 $233,894 $190,154 $169,082 $161,772 $154,448 $154,209 $163,407 From Table 4 Total Funds Available $49,872,568 $53,238,033 $56,553,599 $59,558,291 $62,447,448 $65,170,551 $67,892,725 $70,906,013 $73,878,702 $76,809,011 $78,361,066To belowO&M$43,201,010 $41,266,135$41,804,432 $42,695,938 $44,671,421 $47,593,438 $49,164,911 $50,790,191 $52,471,223 $54,210,026$56,008,702 From Table 2Net Revenue$6,671,558 $11,971,898 $14,749,167 $16,862,352 $17,776,027 $17,577,113 $18,727,814 $20,115,822 $21,407,480 $22,598,985 $22,352,363 Funds Available less ExpensesDebt Service $3,380,888 $3,782,913 $3,779,913 $3,777,213 $3,779,613 $3,776,713 $5,425,836 $5,427,211 $5,427,436 $5,423,118 $3,567,143 From aboveDebt Coverage Ratio1.973.163.904.464.704.653.453.713.944.176.27To Table 1B ProjectedHF&H Consultants, LLC 6/16/2025 1:45 PMRWC_Water_Model_6Jun2025.xlsx6. Debt ServiceATTY/RESO.0109/CC RESO WATER RATES - EXHIBIT A REV: 11-05-25 MI
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