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<br />Both the City's projections as well as Exhibit D to the coverage certificate indicate that
<br />total debt service in the year 2000 would be $2,367,070, somewhat less than the amount
<br />in the Coverage Certificate. In either case, the debt service coverage would be adequate
<br />with a coverage ratio greater than 1.0 as demonstrated in the following table which
<br />includes the years 1998 and 1999.
<br />
<br />City of Fort Morgan Financial Analysis
<br />
<br />'l:Y:fae: ef R~~~';';e: f;f; Opeta1iiig; '1 :111.( R~venu';;:: tJ;otalpebt;; i :; '-Debt;~ ~
<br />';+"" 'c 0' % ,'& $'"&'0_44> ' ct % 0 *'% '!Hh+~ ' '*''tj * " 0 *'0 "@1&Wt4;" "w :"'*''&'0'%' V0 '0'*"* % "', '\ +1F#
<br />)1%~'~0~!0!*'Jf!:+'",_*, % J(-1f '* ,; 0' l' ~ l' '"fi Expense *-' ,*~fi ~ ~ %, '%,* tr ~4t *~"lv *~ tServ lCeU;4; '* % ServICe ff it'
<br />1f!'Y'~'ti/t'0'G:""1&W @,,,,,,",;p;%G0"<"''lii'9>:&p:lf 1&' "'%\%" ifu.fu $..\S'k~ %0 jtlq~< '%!': 3di 'Ii' f; iif'lIif""g b $$ d"d,pSi : ",d if'
<br />liji0W ,J'/@4{ f#~%/mkr% *' *"f* & 0 '% '% \t ,%%,~4fi% '# \\%;: ~'j"%" '0'''**''+-&4 '%: """V%'*_> *'"",*,* 0'V^%"Ratio f# ;;..,,,,,
<br />"\,,,/0%Y'% wi4.@< %<:-tX*d4#,-y^<:~<N \~~^^ ~1%~ 'f R."%:fu. r%$V;>>. <'~ ., <?$f
<br />1998 $1,975,443 $749,000 $1,226,443 $887,881 1.38
<br />1999 $2,872,593 $850,000 $2,022,593 $1,892,153 1.07
<br />2000 $3,704,537 $1,227,000 $2,477,537 $2,367,070 1.05
<br />
<br />Copies of the attachments are available in my Fort Morgan feasibility file.
<br />
<br />Attachments
<br />
<br />Cc: Bill Stanton
<br />Jan Illian
<br />Linda Bassi, AGO
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