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2020 2019 2018 2017 2016
<br />Water revenue bonds
<br />Water revenue 48,757,896$ 46,708,545$ 43,031,133$ 36,752,635$ 35,508,299$
<br />Less: Operating expenses (34,777,766) (32,725,719) (36,469,678) (31,411,452) (28,248,490)
<br />Net available revenue 13,980,130 13,982,826 6,561,455 5,341,183 7,259,809
<br />Debt service:
<br />Principal 2,085,000 2,000,000 1,975,000 2,080,000 1,995,000
<br />Interest 1,888,213 1,965,763 1,999,194 2,352,256 2,214,629
<br />Total debt service 3,973,213 3,965,763 3,974,194 4,432,256 4,209,629
<br />Coverage 3.52 3.53 1.65 1.21 1.72
<br />Port revenue bonds:
<br />Port revenue 8,761,928 9,335,548 8,627,231 7,127,814 6,779,863
<br />Less: Operating expenses (4,159,256) (5,252,241) (4,245,795) (3,106,577) (2,823,939)
<br />Net available revenue 4,602,672 4,083,307 4,381,436 4,021,237 3,955,924
<br />Debt service:
<br />Principal 853,775 825,604 798,483 771,916 772,130
<br />Interest 510,405 538,926 556,144 577,965 630,193
<br />Total debt service 1,364,180 1,364,530 1,354,627 1,349,881 1,402,323
<br />Coverage 3.37 2.99 3.23 2.98 2.82
<br />Tax allocation bonds:
<br />Tax increment - - - - -
<br />Debt service:
<br />Principle 1,557,657 1,663,894 1,773,916 1,889,861 3,142,669
<br />Interest 1,947,343 1,841,106 1,731,084 1,615,139 292,144
<br />Total debt service 3,505,000 3,505,000 3,505,000 3,505,000 3,434,813
<br />- - - - -
<br />Source: City of Redwood City. Finance Department
<br />City of Redwood City
<br />Pledged-Revenue Coverage (Continued)
<br />Last Ten Fiscal Years
<br />Fiscal Year
<br />227
<br />7.C. - Page 259 of 269
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