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SCHEDULE OF PROPOSED
DEBT SERVICE REQUIREMENT
(First Revision)
| The
Projected Taxable Value for FY 2003-2004 |
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$965,000,000 |
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| Each
Penny of Local Taxing Effort will generate approximately |
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$96,500 |
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| [$965,000,000.00
X $.01 /$100.00] toward
the payment of bonded
indebtedness. |
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| Fiscal
Year |
Principal
Payment |
Interest
Payment |
Total |
Less:
IFA & EDA |
Balance
From Local Sources |
I
& S Rate Needed |
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| 2003-2004 |
$1,143,594.90 |
$3,132,561.35 |
$4,276,156.25 |
$2,015,726.00 |
$2,260,430.25 |
$0.2498 |
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| Maximum
amount of Interest and Sinking Tax Rate (Per $100 of Taxable
Value) |
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$0.5000 |
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| Less: Interest and Sinking Rate Needed For Existing Debt |
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$0.2498
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| Amount
of Interest and Sinking Tax Rate Remaining |
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$0.2502 |
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| Total
Amount of Interest and Sinking Tax Levy Generated [$.2502 X
$96,500.00] |
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$2,414,707 |
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| According
to our Financial Advisor - Legg Mason,
a bond issue of $10,000,000 will require
an annual debt service requirement of approximately $750,000 |
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| A
$10,000,000 bond
issue will require an annual debt service requirement of
approximately |
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$750,000 |
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| A
$20,000,000 bond
issue will require an annual debt service requirement of
approximately |
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$1,500,000 |
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| A
$30,000,000 bond
issue will require an annual debt service requirement of
approximately |
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$2,250,000 |
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| A
$40,000,000 bond
issue will require an annual debt service requirement of
approximately |
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$3,000,000 |
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Projected
Addition to I
& S Rate |
Current
I & S Rate |
Projected
New I
& S Rate |
Current
M & O Rate |
Potential
Combined Tax
Rate |
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| If
the bonds issued were $10,000,000 the annual debt service
requirement would be |
| $750,000
which would require an increase in the I $ S Tax Levy of
($750,000 / $96,500) |
$0.0777 |
$0.2498 |
$0.3275 |
$1.5000 |
$1.8275 |
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| If
the bonds issued were $20,000,000 the annual debt service
requirement would be |
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| $1,500,000
which would require an increase in the I $ S Tax Levy of
($1,500,000 / $96,500) |
$0.1554 |
$0.2498 |
$0.4052 |
$1.5000 |
$1.9052 |
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| If
the bonds issued were $30,000,000 the annual debt service
requirement would be |
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| $2,250,000
which would require an increase in the I $ S Tax Levy of
($2,250,000 / $96,500) |
$0.2332 |
$0.2498 |
$0.4830 |
$1.5000 |
$1.9830 |
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| If
the bonds issued were $40,000,000 the annual debt service
requirement would be |
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| $3,000,000
which would require an increase in the I $ S Tax Levy of
($3,000,000 / $96,500) |
$0.3109 |
$0.2498 |
$0.5607 |
$1.5000 |
$2.0607 |
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Requiring
A Tax Increase
of |
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| The
average market value of a residence in Waller ISD in 2002 was |
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$88,798.00 |
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| If
the Combined Tax Rate Was $1.7498
the Total Tax Bill would be |
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$1,553.79 |
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n/a |
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| If
the Combined Tax Rate was $1.8327
the Total Tax Bill would be |
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$1,622.80 |
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$69.01 |
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| If
the Combined Tax Rate was $1.9155 the
Total Tax Bill would be |
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$1,691.82 |
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$138.03 |
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| If
the Combined Tax Rate was $1.9984
the Total Tax Bill would be |
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$1,760.83 |
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$207.04 |
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| If
the Combined Tax Rate was $2.0813
the Total Tax Bill would be |
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$1,829.84 |
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$276.06 |
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