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• \ City JR. Anthony, Minnesota • <br /> Liquor Store Revenue Bonds <br /> Operations History 1995 1994 <br /> i <br /> Sales Net of Costs and Discounts 1,160,325 1,131,812 <br /> ' Operating Expenses 1,210,890 1.128,420 <br /> Net Income (50,565) 3,392 <br /> Add Back: Depreciation 100,349 98,606 <br /> Debt Service Interest 12.775 16,375 <br /> Adjusted Net Operating Income 62,559 118,373 <br /> Non-Operating Income 65,281 65,172 <br /> Net Available For Debt Service 127,840 183,545 <br /> I <br /> Max. Annual Debt Service (1997) 94,725 94,725 <br /> Coverage (times) 1.35 1.94 <br /> Proposed New Bond Issue Max Issue @ <br /> 125% 1995 Net <br /> Relocation and Remodeling 1,000,000 660,000 <br /> Refund Existing Bonds 175,000 175,000 <br /> Debt Service Reserve (Max Annual) 181,000 127,000 <br /> Bond Discount @ 1.8% 23,400 16,200 <br /> Costs of Issuance 21,000 20.000 <br /> Sub Total 1,400,400 998,200 <br /> Less: Existing Reserve (94,725) (94,725) <br /> Funds on Hand5� •675) 3( .475) <br /> Net Bond Isue 1,300,000 900,000 <br /> Average Annual Debt Service 180,836 125,194 <br /> (10 Yrs. -6.5%) <br /> ._Z <br />