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q X150 <br />The table below sets forth the debt service and expected debt service coverage for the <br />Bonds. Debt service coverage is shown as a percentage of net tax increment revenues which the <br />Agency is permitted to collect after applying all factors which operate to reduce the amount <br />actually collect[ d by the Agency. The table shows that Tax Revenues in fiscal year 2003 -04 and <br />in future years are projected to be at least equal to 135% of maximum annual debt service on <br />the combined amount of Bonds and 1997 Bonds. <br />TABLE 10 <br />REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD MY <br />Redevelopment Project Area No. 2 <br />Projected Debt Service Coverage Schedule <br />(000's omitted) <br />Fiscal <br />1997 Bonds <br />Year <br />Debt Service <br />2003 -04 <br />$1,549 <br />2004 -05 <br />1,546 <br />2005 -06 <br />1.540 <br />2006 -07 <br />1,544 <br />2007 -08 <br />1,546 <br />2008 -09 <br />1,543 <br />2009 -10 <br />1,542 <br />2010 -11 <br />1,546 <br />2011 -12 <br />2012 -13 <br />2013 -14 <br />2014 -15 <br />2015 -16 <br />2016 -17 <br />2017 -18 <br />2018 -19 <br />2019 -20 <br />2020 -21 <br />2021 -22 <br />2022 -23 <br />2023 -24 <br />2024 -25 <br />2025 -26 <br />2026 -27 <br />2027 -28 <br />2028 -29 <br />2029 -30 <br />2030 -31 <br />2031 -32 <br />Bonds Aggregate <br />Debt Service' Debt Service <br />Net Tax Net Tax Revenue <br />Revenues CoveraQe Ratio' <br />$6,087 <br />6,142 <br />6,439 <br />6,677 <br />6,847 <br />7,020 <br />7,197 <br />7,378 <br />7,253 <br />7,441 <br />7,629 <br />7,824 <br />8,023 <br />8,226 <br />8,433 <br />8,645 <br />(1) Debt service is shown for the 12 -month period ending July 15 immediately following the listed <br />fiscal year. <br />(2) From Table 9. <br />Preliminary, subject to change. <br />Source: The Agency <br />-32- <br />