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<br />CITY OF REDWOOD CITY, CALIFORNIA
<br />REVENUE BOND COVERAGE
<br />Last Ten Fiscal Years
<br />
<br />Table 9
<br />
<br />Fiscal
<br />Year
<br />
<br />Gross
<br />Revenue
<br />
<br />Operating &
<br />Maintenance
<br />Expenses
<br />$
<br />
<br />Net Revenue
<br />Available for
<br />Debt Service
<br />$
<br />
<br />Debt Service Requirement
<br />
<br />Principal
<br />$
<br />
<br />Interest
<br />$
<br />
<br />Total
<br />$
<br />
<br />Coverage
<br />Ratio
<br />
<br />$
<br />Port Revenue Bonds
<br />
<br />1995 2,515,741 2,082,056 433,685 155,000 111,325 266,325 1.63
<br />1996 2,576,049 2,037,489 538,560 165,000 96,600 261,600 2.06
<br />1997 2,591,527 2,081,535 509,992 180,000 80,926 260,926 1.95
<br />1998 3,007,875 2,210,873 797,002 195,000 63,376 258,376 3.08
<br />1999 (1) 5,978,167 2,237,302 3,740,865 215,000 691,332 700,583 5.34
<br />2000 4,339,123 2,429,705 1,909,418 0 589,516 589,516 3.24
<br />2001 4,842,148 2,600,952 2,241,196 170,000 554,545 724,545 3.09
<br />2002 4,643,614 2,563,940 2,079,674 175,000 547,745 722,745 2.88
<br />2003 5,404,255 2,802,709 2,601,546 185,000 540,570 725,570 3.59
<br />2004 5,597,074 3,837,998 1,759,076 190,000 532,800 722,800 2.43
<br />
<br />Excludes capitalized loans and bonds secured with leasehold contracts
<br />
<br />(1) 1995 Series A Bonds were refunded in April 1999 with 1999 Revenue Bonds, no principal payment due in 2000.
<br />
<br />Source: Audited City financial records
<br />
<br />99
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