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<br />Table 16 - $5M Grant With $5 Million Grant Awarded Jan-06 2004 Update
<br />Redwood City Water Financing Plan
<br />Add itional Debt Test
<br /> 2004/05 2005/06 2006/07 2007/08 2008/09
<br />Projected Bond Issues
<br />Issuance Date Jan-1 Jan-1 Jan-1 Jan-1 Jan-1
<br />Principal Amount $35,800,000 $12,760,000 $17,035,000 $7,715,000 $14,220,000
<br />Additional Debt Test
<br />Rate revs from prior year 13,452,423 17,050,000 18,823,000 20,790,000 23,210,000
<br />Other revs from prior year 1,309,570 460,340 692,000 773,000 884,000
<br />Add'i revs: current + 1 future rate inc 2,072,009 4,146,986 4,578,224 3,897,605 3,115,362
<br />Total test revenues 16,834,002 21,657,326 24,093,224 25,460,605 27,209,362
<br />O&M expenses from prior year 11,352,417 14,966,811 15,337,350 16,563,000 17,675,000
<br />O&M adjustments 0 0 0 0 0
<br />Total test O&M expenses 11,352,417 14,966,811 15,337,350 16,563,000 17,675,000
<br />Adjusted net revenues 5,481,585 6,690,515 8,755,874 8,897,605 9,534,362
<br />Projected total gross debt svc 2,280,000 3,130,000 4,300,000 4,830,000 5,810,000
<br />Add'i Debt Test Coverage 2.40 2.14 2.04 1.84 1.64
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<br />BARTLE WELLS ASSOCIA TES
<br />F:\Jobs\Redwood City\1921\ \Redwood City Tables 12-20-04\Addl Bonds Test $5M, 12/21/2004,6:07 PM
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