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8.A. - Page 52
<br /> Table 5
<br /> Direct and Overlapping Bonded Debt
<br /> (as of November 23, 2011)
<br /> 2011-12 Assessed Valuation: $600,568,914�"
<br /> DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEP�T: `% A��j?licable Debt 1/1 /12
<br /> San Mateo Cominunity College District 0.419`% $ 2,517,331
<br /> Sequoia Union High School District L022 3,506,175
<br /> Redwood City School District 3.564 1,700,185
<br /> City of Redwood City Community Facilities District No. 2000-1 100. 8.655,000 (2)
<br /> TOTAL DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEP�T $16,378,691
<br /> OVERLAPPING GENERAL FUND DEBT:
<br /> San Mateo County General Fund Obligations 0.459`% $1,491,657
<br /> San Mateo County Board of Education Certificates of Participation 0.459 57,008
<br /> City of Redwood City General Fund Obligations 4.464 262,483
<br /> Midpeninsula Regional Park and Open Space District General Fund Obligations 0.370 468,283
<br /> TOTAL OVERLAPPING GENERAL FUND DEP�T $2,279,431
<br /> COMP�INED TOTAL DEP�T $18,658,122 (3)
<br /> (1) Inclucles the assessed values of the Taxable Parcels, as well as the assessed values of six other parcels in
<br /> the District that are not classified under the Rate and Method as Taxable Parcels.
<br /> (2) Excludes refunding Mello-Roos Act bonds to be sold. Estimated amount to be sold: $6,340,000.
<br /> (3) Excludes tax and revenue anticipation notes, enter�rise revenue, mortgage revenue and tax allocation
<br /> bonds and non-bonded capital lease obligations.
<br /> Ratios to 2011-12 Assessed Valuation:
<br /> Direct Debt ($8,655,000) ........................................................................1.44`%
<br /> Total Direct and Overlapping Tax and Assessment Debt........2.73`%
<br /> Combined Total Debt ..............................................................................3.11`%,
<br /> Projected Debt Service Coverage
<br /> The table below shows the projected debt service coverage from the annual Special Tax
<br /> levy in the District for the Bonds, assuming a levy of the maximum Special Tax on all Taxable
<br /> Parcels, less the Annual Administrative Expense Amount, and no Special Tax delinquencies.
<br /> Table 6
<br /> Projected Debt Service Coverage on Bonds*
<br /> Pr ojected
<br /> Debt Service Debt Service
<br /> Maximum onthe Coverage
<br /> P�ond Year Special Tax�'� P�onds ontheBonds
<br /> 2011-12 $2,ti63,440.00 $ 821,883.65 31190`%
<br /> 2012-13 2,562,940.00 1,500,887.50 170.76
<br /> 2013-14 2,ti62,430.00 1,497,087.ti0 171.16
<br /> 2014-15 2,561,909.80 1,501,037.50 170.68
<br /> 2015-16 2,561,379.20 1,497,125.00 171.09
<br /> Sources: Maximum Special Tax – Willdan Financial Services; Debt Service and Projected Coverage – the
<br /> Underwriter.
<br /> (1) Reflects Maximum Annual Special Tax Rate of $1.63 per Commercial Square Foot (see "SECURITY FOR
<br /> THE P�ONDS—Summary of Rate and Method – Tax Categories and Maximum Special Tax Rate")
<br /> multiplied by the aggregate Commercial Square Footage of the Taxable Parcels of 1,588,000 (see Table 1
<br /> under "THE DISTRICT—Land Ownerslup and Current Special Tax Levy°), less the Annual
<br /> Administrative Expense Deposit for the applicable P�ond Year.
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