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DEBT SERVICE AND COVERAGE CALCULATION
<br /> Elk River Municipal Utilities-Electric Fund
<br /> Net Revenues Available For Debt Service
<br /> Fiscal Years Ended December 31,2015,2016 and 2017
<br /> December 31, 2015 December 31, 2016 December 31, 2017
<br /> Operating Revenue $ 32,551,722 $ 34,464,396 $ 36,120,824
<br /> Operating Expense (29,896,154) (31,826,599) (33,394,471)
<br /> N:t Operating Income(Loss) $ 2,655,568 $ 2,637,797 $ 2,726,353
<br /> Aid Back Depreciation 1,922,359 2,005,093 2,046,935
<br /> At d Other Income 375,020 372,506 424,101
<br /> A ailable for Debt Service $ 4,952,947 $ 5,015,396 $ 5,197,389
<br /> A erage Annual Debt Service * $ 1,013,595
<br /> Cpverage 5.12x
<br /> * Includes average annual debt service for the Bonds and the Parity Bonds.
<br /> Sou ces: The Utility's Annual Financial Reports for the fiscal years ended December 31, 2015, 2016, and 2017.
<br /> UTILITY REVENUE DEBT
<br /> Est. Principal
<br /> tate Original Final Outstanding
<br /> o Issue Amount Purpose Maturity As of 9-26-18
<br /> -14-16 $10,000,000 Electric Revenue 2-1-2036 $ 9,755,000
<br /> -14-16 1,460,000 Electric Revenue Refunding 2-1-2022 930,000
<br /> -26-18 10,000,000 Electric Revenue(the Bonds) 2-1-2048 10,000,000
<br /> Tot:l $20,685,000
<br /> - 20 -
<br /> 29
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