|
$14,460,000
<br />City of Elk River, Minnesota
<br />Electric Revenue Bonds, Series 2021B
<br />Coverage Ratio and Additional Bonds Test
<br />DateNet ElectricTotal Electric ParityCoverage
<br /> Fund RevenuesDebt Service
<br />08/01/2021-490,090.63-
<br />08/01/20227,123,454.002,149,834.633.3134893x
<br />08/01/20237,123,454.001,901,598.753.7460342x
<br />08/01/20247,123,454.001,899,801.253.7495785x
<br />08/01/20257,123,454.001,901,856.253.7455270x
<br />08/01/20267,123,454.001,905,356.253.7386468x
<br />08/01/20277,123,454.001,909,956.253.7296425x
<br />08/01/20287,123,454.001,908,363.753.7327548x
<br />08/01/20297,123,454.001,902,263.753.7447247x
<br />08/01/20307,123,454.001,909,180.003.7311589x
<br />08/01/20317,123,454.001,903,596.253.7421034x
<br />08/01/20327,123,454.001,905,673.753.7380239x
<br />08/01/20337,123,454.001,905,407.503.7385462x
<br />08/01/20347,123,454.001,902,288.753.7446755x
<br />08/01/20357,123,454.001,901,856.253.7455270x
<br />08/01/20367,123,454.001,909,756.253.7300331x
<br />08/01/20377,123,454.001,221,356.255.8324129x
<br />08/01/20387,123,454.001,222,121.255.8287621x
<br />08/01/20397,123,454.001,222,081.255.8289529x
<br />08/01/20407,123,454.001,223,211.255.8235681x
<br />08/01/20417,123,454.001,223,361.255.8228540x
<br />08/01/20427,123,454.001,222,521.255.8268550x
<br />08/01/20437,123,454.001,225,161.255.8142991x
<br />08/01/20447,123,454.001,221,931.255.8296684x
<br />08/01/20457,123,454.001,222,358.755.8276296x
<br />08/01/20467,123,454.001,221,897.505.8298294x
<br />08/01/20477,123,454.001,225,481.255.8127809x
<br />08/01/20487,123,454.001,221,825.005.8301754x
<br />08/01/20497,123,454.00662,250.0010.7564424x
<br />08/01/20507,123,454.00661,875.0010.7625367x
<br />08/01/20517,763,588.56661,125.0011.7429965x
<br />Total$214,343,754.56$45,965,437.76-
<br />2019 Net Revenues Available for Debt Service*
<br />Operating Revenue
<br />$38,094,633
<br />Operating Expense
<br />(34,555,086)
<br />Net Operating Income (Loss)
<br />$3,539,547
<br />Add Back Depreciation
<br />2,856,258
<br />Add Other Income
<br />727,649
<br />Average Annual Debt Service
<br />$7,123,454
<br />Additional Bonds Test
<br />470%
<br />*Source: City of Elk River Comprehensive Annual Financial Report 2019. The 2020 Comprehensive Annual Financial Report is not yet available.
<br />2021 Electric Rev Bonds 3 | SINGLE PURPOSE | 3/ 1/2021 | 2:14 PM
<br />Page 8
<br />336
<br />
|