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

Beginning Fund Balance

Transfers In Utility Fund Water Impact Fund Sewer Impact Fund General Debt Service History Projected Budget

2020 Actual2021 Budget2021 Revised2022 Budget% Change

- - - -

544,630 338,316 338,316 121,658 -64.04% 154,250 156,100 156,100 157,313 0.78% 20,095 20,259 20,259 19,804 -2.25% - - - 718,975 514,675 514,675 298,775 -41.95%

Total Revenue 718,975 514,675 514,675 298,775 -41.95%

Expenditures Fees Paid to Agencies for Bonds - - - - Bonds Retired 590,000 405,000 405,000 270,000 -33.33% Bond Interest 128,975 109,675 109,675 28,775 -73.76% 718,975 514,675 514,675 298,775 -41.95%

Ending Fund Balance - - - -

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

Series 2014 GO Refunding (2005A)

Series 2014A GO Refunding (2005B)

Prinicipal Interest Annual Payment

130,000.00 11,462.50 141,462.50

140,000.00 17,312.50 157,312.50 270,000.00 28,775.00 298,775.00

The three current outstanding water sewer debt issues owed as of Fiscal Year 2022 total $1,217,969. This is the total of $1,150,000 in remaining principal payments and $67,969 in interest.

Utility Debt Service Fiscal Year Principal Interest Total Payments 2022 270,000 28,775 298,775 2023 285,000 21,444 306,444 2024 295,000 13,256 308,256 2025 300,000 4,494 304,494 1,150,000 67,969 1,217,969

2014 General Obligation Refunding

2014 General Obligation Refunding Fiscal Year Principal Interest Total Payments 2022 130,000 11,463 141,463 2023 140,000 8,588 148,588 2024 145,000 5,381 150,381 2025 150,000 1,869 151,869 565,000 27,300 592,300 Original Issue Revenue Supported Amount: $1,291,891 ($3,440,000 total issue) Original Date of Issue: 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 Revenue Supported Amount: $1,350,000 Original Date of Issue: November 4, 2014 2014A General Obligation Refunding Maturity Date: February 15, 2025 Fiscal Year Principal Interest Total Payments 2022 140,000 17,313 157,313 Interest savings from this refunding will be 2023 145,000 12,856 157,856 $204,207. 2024 150,000 2025 150,000 7,875 2,625 157,875 152,625 585,000 40,669 625,669 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.