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<br />AUTHORIZED REVENUE BONDS
<br />
<br />Purpose
<br />Waterworks and Sewer System
<br />Improvements
<br />
<br />Date
<br />Authorized
<br />4-7-84
<br />
<br />Amount
<br />Authorized
<br />$6,200,000
<br />
<br />Amount
<br />Heretofore
<br />Issued
<br />$1,170,000
<br />
<br />Amount
<br />Being
<br />Issued
<br />$1,320,000
<br />
<br />Unissued
<br />Balance
<br />$3,710,000
<br />
<br />ANTICIPATED ISSUANCE OF VOTED REVENUE BONDS
<br />
<br />The City anticipates the issuance of additional debt of approximately $2,500,000 in late 1988 and the
<br />balance of the authorized revenue bonds in the spring of 1989. The City plans a bond election in the
<br />spring of 1988, amount of which has not been determined.
<br />
<br /> VALUE OF SYSTEMS*
<br />Fiscal Year Ended 9-30-87 9-30-86 9-30-85 9-30-84 9-30-83
<br /> (Unaudited)
<br />Waterworks System $ .5,302,440 $ 4,560,200 $3,197,063 $3,169,658 $3,167,411
<br />Sewer System 9.463.512 8.352.85 t 7.117.672 3.359.613 3.347.745
<br />Total Value $14,76.5,9.52 $12,913,0.51 $10,314,735 $6,529,271 $6,515,156
<br />Reserve for Depreciation $ 1,109,406 $1,07.5,569 $1,011,107 $
<br />Waterworks System $ 1,242,092 975,711
<br />Sewer System 1. 40.5 .1.¡.90 1.237.789 1. 119.1.¡.70 1.062.922 1009827
<br />Total Depreciation $ 2.647,582 $ 2,347,195 $2,19.5,039 $2,074,029 ~
<br />Value After Depreciation $12.118.370 $10.565.856 $8.119.696 $4.45.5.242 $4..529.618
<br />* Value of Systems includes land, buildings and system costs, but excludes all personal property costs.
<br /> CITY'S EQUITY IN SYSTEM
<br />Fiscal Year Ended 9-30-87 9-30-86 9-30-8.5 9-30-84 9-30-83
<br /> (Unaudited)
<br />Waterworks and Sewer System $1.5,188,496 $ 9,40.5,599 $8,133,67.5 $7,906,648 $7,778,627
<br />Less Reserve for
<br />Depreciation 3 827 096 3.303.473 3.361.469 3.172.712 3.01.5.166
<br />$11 :361 :400 $ 6,102,126 $4,772,206 $4,733,936 $4,763,461
<br />Plus Construction Fund 646.487 4838 88.5 3.834.936 196.687 -0-
<br />Net Plant $12,007,887 ~ $8,607,142 $4,930,623 $4,763,461
<br />Plus Net Working Capital 2.14.5.391. 1.816'.827 2 831.5.53 2.821.919 1 . .572. 91t2.
<br />Total $14,1.53,278 $12,7.57,838 TIi,43å,69.5 $7,7.52,542 $6,3.36,410
<br />Revenue Bond Debt $ 2,740,000 $ 2,68.5,000 $2,7.5.5,000 $2,78.5,000 $2,03.5,000
<br />Less Interest and Sinking
<br />Fund and Reserve Fund .567..586 404.366 40.5 .116 404.787 283.629
<br />Net Revenue Debt $ 2,172,414 $ 2,280,634 $2,349,884 $2,380,213 $1,7.51,371
<br />City's Equity in System $11,980,864 $10,477,204 $9,088,811 $.5,372,329 $4,.585,039
<br />Percentage City's Equity
<br />In System 84.6.596 82.1296 79.4696 69.3096 72.3696
<br />
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