To put this measure in longer-run perspective, the debt service
ratio was 10.
50x coverage of net debt service
under the indenture on the bank's bonds assuming the additional issuance of an estimated $370 million in 2008.
The forward purchase agreement will provide a guaranteed investment return for funds in the debt service
In spite of the effective closed lien on new money issuances, the district is able to generate cash for new projects by refinancing existing certificates and taking the savings as new money; the resulting debt service
is essentially the same.
Only after satisfying senior and subordinate debt service
requirements may the county use the remaining funds to provide property tax relief, make school district payments, or meet operating expenses for football and baseball projects.
A February 2006 consultant report outlined several toll rate options for the years following fiscal 2007, when debt service
increases to $3.
There are several positive factors at work which benefit detention center operations and its ability to meet its debt service
To deal with this constraint, the authority opted not to subject these excess funds to the flow of funds and instead drew approximately $2 million of this balance from the senior lien and subordinate lien debt service
1 2006, fare revenues have failed to grow to levels sufficient to pay debt service
and available internal liquidity is expected to be drained more rapidly than was previously estimated.
The bonds are secured by a lien on gross system revenues subordinate only to debt service
on the first general resolution (FGR) bonds and are scheduled for negotiated sale on Oct.
The rating reflects sound debt service
coverage by a first lien on solid waste resources fee (SWRF), formerly the sanitation equipment charge (SEC), revenues collected by the city, the stability of these revenues, and the city's breadth and diversity.
However, the series 2006A and series 2006B debt refunding and restructuring continues the authority's efforts beginning in 2004 to incrementally establish a more level debt service