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2023-02-06 Common Council 2023 TIF Bond Presentation
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2023-02-06 Common Council 2023 TIF Bond Presentation
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2/8/2023 1:40:46 PM
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City Council - City Clerk
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CITY OF SOUTH BEND <br />DEPARTMENT OF COMMUNITY INVESTMENT <br />Debt Service Expectations <br />•Bonds will be payable from River West and River East TIF <br />revenues, backed by authorization for a special tax levy (as an <br />assurance to bondholders) <br />•Anticipated coverage ratio is more than 200% (based on an <br />assumption of no growth in TIF revenues) <br />•Maximum annual debt service will be $10.5M, based on <br />maximum bond parameters <br />•Maximum term of 20 years, based on maximum bond <br />parameters
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