HomeMy WebLinkAboutRDA #5 9-21-87 REDEVELOPMENT AGENCY
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DATE: SEPTEMBER 15, 1987
WI A. HUSTON, CITY MANANGER
FROM: RO T~ DIR~-CTOR OF FINANCE
tlNARY FUND BALANCE PROJECTION-TOWN
~BJECT: PRELIM
CENTER RDA DEBT SERVICE
,
The following is the Revised Fund Balance Projections for the
Town Center Debt Service Fund that shows the impact of the 1987
Refunding Bond Issue, based on the most recent, August 31, Fiscal
Agent Report prepared by our Trustee, Security Pacific National
Bank.
Estimated Projected
Balance Transfers Balance
6-30-87 Revenue Expenditures Out 6-30-87
$3,132,629 $1,706,000 $703,875 $1,936~994 $ 2,197,760
Expenditures include debt service on the Refunding Bonds and cost
of issuance that could not be included in the bond issue. The
transfer out is'to the escrow account for the 1982 Bonds. The
balance is the $805,500 reserve requirement held by the Trustee,
non-distributed interest and principal, also held by the Trustee,
and excess tax increment held by the City for future use of the
Agency. (Current redevelopment law restricts the use of tax
increment to the repayment of debt.)
RAN:ls