1990-12-28 Resolution 30 - Laserfiche WebLink

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~i SOUTH BEND (INDIANA) REDEVELOPMENT AUTHORITY GENERAL COMMENTS Analysis of Debt Service and Estimated Tax Increment - Paee 7 (Cont'd) The Redevelopment Commission anticipates that tax increment revenues will be sufficient to meet the debt service payments when due. Capitalized interest in the amount of $416,225 will be available to augment the tax increment revenue in the early years, so that the two sources combined will be sufficient to meet the debt service. Estimated annual tax increment revenues and capitalized interest will provide a bond coverage ratio ranging from 1.00 to 1.12. To the extent that tax increment revenues and capitalized interest are available to make debt payments, no debt service tax levy will be required. It should be noted, however, if none of the projected tax increment revenue were received, a debt service tax levy would be required resulting in a maximum debt service tax rate of $.07 per $100 of net assessed value assuming a net assessed value of $u06,i63,605 for the .South Bend Redevelopment District. Bond Year Schedule - Paee °8 The calculation of the bond years for the Lease Rental Bonds. is presented in this schedule. It is assumed that the Bonds will be dated March 1, 1991. -3-