|
6/22/2023
<br />4
<br />PHASE II DEBT LEVY - BENEFITS
<br />Phase II modified the pace of improvements to gain the following
<br />benefits:
<br />• The City’s Debt burden will be reduced faster.
<br />• The gap years in the street improvement schedule will allow for growth in the
<br />Infrastructure Levy
<br />• Infrastructure Levy will be used to support street costs, saving interest expense and
<br />financing costs.
<br />• Residential Street reconstructions anticipated to be completed by 2040.
<br />• Gain flexibility to adjust if other levy demands occur.
<br />PHASE II OF DEBT LEVY PLANNING
<br />Modifying the pace of improvements, to reduce bond financing and transition to
<br />levy support
<br />Levy Year Debt levy
<br />Infrastructure
<br />Levy ‐Road
<br />Construction Total Levied $
<br />Bond $
<br />Eliminated Bond Year Bond Impact
<br />2020 2,487,181 ‐ 2,487,181
<br />2021 2,487,181 ‐ 2,487,181
<br />2022 2,487,181 ‐ 2,487,181
<br />2023 2,487,181 ‐ 2,487,181
<br />2024 2,136,734 350,447 2,487,181
<br />2025 2,164,043 323,138 2,487,181
<br />2026 2,212,746 274,435 2,487,181 948,019 960,000 2027 BOND REDUCED 22%
<br />2027 2,089,746 397,435 2,487,181
<br />2028 2,098,903 388,278 2,487,181
<br />2029 2,244,335 242,846 2,487,181
<br />2030 2,092,414 394,767 2,487,181 1,423,325 800,000 2031 BOND REDUCED 16%
<br />Transition of Debt Levy to Infrastruture Levy Use of Infrastructure Levy
<br />20
|