To put this measure in longer-run perspective, the debt service
ratio was 10.
As noted, if RACI fails to generate sufficient revenues to make the debt service
payment, the county is required to make a payment equal to the shortfall.
50x coverage of net debt service
under the indenture on the bank's bonds assuming the additional issuance of an estimated $370 million in 2008.
The forward purchase agreement will provide a guaranteed investment return for funds in the debt service
In spite of the effective closed lien on new money issuances, the district is able to generate cash for new projects by refinancing existing certificates and taking the savings as new money; the resulting debt service
is essentially the same.
Only after satisfying senior and subordinate debt service
requirements may the county use the remaining funds to provide property tax relief, make school district payments, or meet operating expenses for football and baseball projects.
A February 2006 consultant report outlined several toll rate options for the years following fiscal 2007, when debt service
increases to $3.
There are several positive factors at work which benefit detention center operations and its ability to meet its debt service
To deal with this constraint, the authority opted not to subject these excess funds to the flow of funds and instead drew approximately $2 million of this balance from the senior lien and subordinate lien debt service
With higher than expected sensitivity to the fare increase and an overall lower base of ridership, Fitch expects fare revenues to be insufficient to meet the monorail's debt service
15 times (x) coverage of FGR bond annual debt service
and 1x coverage on SGR bonds and operating expenses; the gross lien on revenues provided to bondholders; and a detailed review of relevant legal precedents and opinions.