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<br />Payment Capacity <br /> <br />The town will have increases in revenue w.i.th another water rate <br /> <br />change as well as an increase in income through ad valorem tax increases. <br /> <br />However, the payment capacity is not, very impressive until 1985 when the <br />present General Obligation Bond is retired, At this date, the town <br /> <br />w.i.ll be able to begin retiranent of the debt wi tb an accelerated rate. <br /> <br />The projected annual revenues are listed below: <br /> <br />Annual revenues w.i.th an increase in monthly minimums that <br />will cover a 3% repayment at 40 years of equal annual <br />payments ' <br /> <br />Revenue from water sales (164 taps) <br /> <br />$7.50jresidence x 138 residences <br />$6.50jfireman x 16 firemen <br />$9.00juser outside town limits <br />x 10 users <br /> <br />Total Annual Revenues <br /> <br />$12,420 <br />1,248 <br /> <br />1.080 <br /> <br />$14,748 <br />100 <br />3,150 <br /> <br />$17,998 <br /> <br />, Total Revenue fran sales <br />Revenue frOI1l tap fees <br />Revenue frolll ad valorem taxes <br /> <br />The critical period between the date of first payment due until 1984 <br /> <br />when the G. O. Bond is retired w:ill be the most difficult for the Town, <br /> <br />The new taps Rill be just beg:i.ruri.ng and the new system will have to be <br /> <br />managed efficiently until the projected tap increase is realized, After' <br />this period, the decrease in expenses will be realized through the retire- <br />ment of the bond and tbe town should have no trouble in meeting the <br />annual payment. <br /> <br />- 43 - <br />