Utility Debt Service

The primary source of revenue for the Utility Debt Service Fund is revenue from fees charged for water and sewer services. Other funding for the utility debt payments includes water and sewer impact fees.

UTILITY DEBT SERVICE FUND STATEMENT

The Utility Debt Service Fund maintains a zero fund balance. The exact amounts necessary to cover debt payments are transferred in at the beginning of each Fiscal Year.

UTILITY DEBT SERVICE PAYMENT SCHEDULES BY BOND SERIES

The two current outstanding water sewer debt issues as of Fiscal Year 2023 total $919,194, with $880,000 in remaining principal and $39,194 in interest.

2014 General Obligation Refunding

Original Issue Amount: $1,291,891 ($3,440,000 total issue) Original Issue Date: November 4, 2014 Maturity Date: February 15, 2025

Interest savings from this refunding will be $126,027.

Use of Bond Proceeds "Proceeds from the sale of the Bonds will be used (i) to refund a portion of the City's outstanding debt (the Refunded Obligations) as described on Schedule I [in the Official Statement} and (ii) to pay the costs of issuance associated with the sale of the Bonds.. "

Tax and Waterworks and Sewer System Surplus Revenue Certificates of Obligation, Series 2005A Principal Amount Refunded: $1,291,891 Interest Savings: $126,027 Proceeds from the 2005A Certificates of Obligation funded: - Trinity & Main Street Sewer - Pacific Sewer Connection & Lift Station Elimination - Trinity Sewer Connection & Lift Station Elimination - Knox Sewer Connection & Lift Station Elimination - Replace Sewer Line North of HWY 80 between FM 740 & FM 548 - Buffalo Creek Sewer Connection & Lift Station Elimination - Broad Street Water Line - Elevated Water Storage

All proceeds from the 2014 General Obligation Refunding have been spent.

Original Issue Amount: $1,350,000 Original Date of Issue: November 4, 2014 Maturity Date: February 15, 2025

Interest savings from this refunding will be $204,207.

Use of Bond Proceeds "Proceeds from the sale of the Taxable Bonds will be used (i) to refund a portion of the City's outstanding debt (the "Refunded Obligations") as described on Schedule II {in the Official Statement} and (ii) to pay the costs of issuance associated with the sale of the Taxable Bonds..."

Tax and Waterworks and Sewer System Surplus Revenue Certificates of Obligation, Series 2005B Principal Amount Refunded: $1,285,000 Interest Savings: $204,207

Proceeds from the 2005B Certificates of Obligation funded: - A portion of Pump Station #2

Bond Issuance Total Cost: $65,000

All proceeds from the 2014A General Obligation Refunding have been spent.