BONDS AND NOTES FOR UTILITY FUND
Sewer Utility
| 1. | Term bonds | $ | ||
| 2. | Serial bonds | |||
| (a) Issued | $1,020,000.00 | |||
| (b) Authorized but not issued | $4,000,500.00 | |||
| 3. | Bond Anticipation Notes | |||
| (a) Issued | $ | |||
| (b) Authorized but not issued | $ | |||
| 4. | Capital Notes (N.J.S.A. 40A:2-8) | |||
| (a) Issued | $ | |||
| (b) Authorized but not issued | $ | |||
| 5. | Other | |||
| (a) Issued | $ | |||
| (b) Authorized but not issued | $ | |||
| 6. | Total | $5,020,500.00 | ||
DEDUCTIONS APPLICABLE TO BONDS AND NOTES
FOR SELF-LIQUIDATING PURPOSES
Self-Liquidating Utility Calculation
| 1. | Total Cash Receipts from Fees, Rents or Other Charges for Year |
$3,198,432.16 | ||
| 2. | Operating and Maintenance Cost | $2,865,000.00 | ||
| 3. | Debt Service | |||
| (a) Interest | $29,452.50 | |||
| (b) Notes | $ | |||
| (c) Serial Bonds | $40,000.00 | |||
| (d) Sinking Fund Requirements |
$ | |||
| 4. | Debt Service per Current Budget (N.J.S.A. 40A:2-52) |
|||
| (a) Interest on Refunding Bonds |
$ | |||
| (b) Refunding Bonds | $ | |||
| 5. | Anticipated Deficit in Dedicated Assessment Budget |
$ | ||
| 6. | Total Debt Service | $69,452.50 | ||
| 7. | Total Deductions (Line 2 plus Line 6) | $2,934,452.50 | ||
| 8. | Excess in Revenues (Line 1 minus Line 7) | $263,979.66 | ||
| 9. | Deficit in Revenues (Line 7 minus Line 1) | $0.00 | ||
| 10. | Total Debt Service (Line 6) | $69,452.50 | ||
| 11. | Deficit (smaller of Line 9 or Line 10) | $0.00 | ||
| If Excess in Revenues (Line 8) all Utility Debt is Deductible |
||||
| (a) | Gross Sewer System Debt | $5,020,500.00 | ||
| (b) | Less: Deficit (Capitalized at 5%), (Line 9 or line 11) |
$0.00 | ||
| $- 0.00 times 20 | ||||
| (c) | Deduction | $5,020,500.00 | ||
| (d) | Plus: Cash held to Pay Bonds and Notes included in 2 (a) above |
$ | ||
| (e) | Total Deduction (Deficit in revenues) | $5,020,500.00 | ||
| (f) | NonDeductible Combined GO Debt | $ | ||
| Total Allowable Deduction | $5,020,500.00 | |||