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CITY OF SOUTH BEND, INDIANA
<br />SCHEDULE OF REVENUE BOND COVERAGE
<br />WASTEWATER UTILITY BONDS
<br />LAST 7EN YEARS
<br />Year
<br />Gross
<br />Operating
<br />Revenue
<br />Operating
<br />Expenses (1)
<br />Net Revenue
<br />Available for
<br />Debt Service
<br />Debt Service Requirements
<br />Debt
<br />Coverage
<br />Principal
<br />Interest
<br />Total
<br />1997 $12,536,805 $6,432,719 $6,104,086 $500,000 $410,838 $910,838 670%
<br />1998 12,584,026 6,577,011 6,007,015 515,000 389,838 904,838 664%
<br />1999 12,502,608 7,163,295 5,339,313 560,000 366,663 926,663 576%
<br />2000 12,625,139 7,626,129 4,999,010 575,000 341,463 916,463 545%
<br />2001 12,388,161 7,801,488 4,586,673 0 (2) 682,782 682,782 672%
<br />2002 12,096,411 7,618,883 4,477,528 655,000 238,963 893,963 501%
<br />2003 12,415,376 8,175,595 4,239,781 680,000 185,175 865,175 490%
<br />2004 14,124,695 9,337,324 4,787,371 705,000 266,586 971,586 493%
<br />2005 14,639,963 11,200,692 3,439,271 1,180,000 577,943 1,757,943 196%
<br />2006 18,058,615 9,650,301 8,408,314 2,481,626 1,273,423 3,755,049 224%
<br />rn
<br />(1) Operating expenses exclude depreciation and payment in lieu of taxes.
<br />(2) The Sewage Works Revenue Bonds were refunded during 2001.
<br />Operating revenue used to make debt service payments is obtained primarily through monthly user charges to sewer customers.
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