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Debt Obligation

The County issues bonds to provide funds for the acquisition and construction of major capital facilities. Bonds payable as of September 30, 2017 were as follows:

Issue Description  Original Balance Interest Rate Issue & Maturity Date Outstanding Balance
2009 Limited Tax Refunding Bonds $ 3,830,000 2.00-4.00% 2010-2019 $ 1,335,000
2010 Combination Tax and Revenue $ 10,810,000 2.00-3.25% 2011-2030 $ 8,350,000
2012 Limited Tax Refunding $ 6,425,000 2.00-3.00% 2012-2023 $ 4,330,000
2013 Limited Tax Refunding $ 9,120,000 2.00-3.00% 2013-2025 $ 8,155,000
2014 Combination Tax and Revenue $ 9,335,000 3.00-4.00% 2016-2034 $ 8,835,000
2015 Limited Tax Refunding $ 4,715,000 3.00-3.50% 2016-2021 $ 4,175,000
2017 Combination Tax and Revenue $ 9,290,000 3.00% 2017-2036 $ 9,290,00
Total Bonds Payable $ 41,755,000



2017 2016  2015  2014 2013 2012 2011
Assessed Value of Real Property $ 5,516,803,465  $ 4,669,808,487 $ 4,669,808,487 $ 4,104,480,966 $ 3,903,583,148 $ 3,709,450,229 $ 3,732,448,963
Debt Limit Rate
5%  5%  5%
 5%  5%  5%  5%
Debt Limit
$ 275,840,173 $ 233,490,424  $ 233,490,424
$ 205,224,048 $ 195,179,157 $ 185,472,511 $ 186,622,448
Total Bonded Debt
$ 41,755,000 $ 35,180,00  $ 38,215,000
$ 42,792,880 $ 36,154,465  $ 38,000,000  $ 40,815,000
Less: Amount Set Aside for Repayment
$ 2,093,865  $ 1,720,819  $ 1,706,520
 $ 1,377,739  $ 1,377,739  $ 1,200,225  $ 1,044,358
Total Net Debt Applicable to Limit
$ 39,661,135  $ 33,459,181  $ 36,508,480
 $ 41,415,141  $ 34,776,726  $ 36,779,775  $ 39,770,642
Legal Debt Margin
$ 236,179,038  $ 200,031,243  $ 196,981,944
 $ 163,808,907  $ 160,402,431  $ 148,692,736  $ 146,851,806


 
Total Tax-Supported Debt Obligations
2017  2016 2015 2014  2013  2012 2011
$ 3,885,671  $ 4,553,313 $ 9,572,982  $ 4,453,187  $ 14,129,417  $ 10,926,008  $ 4,100,116



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