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<br /> <br /> <br /> <br />CITY COUNCIL COMMUNICATION <br />SUBJECT: FINANCING/BONDING OPTIONS TO ADVANCE CAPITAL IMPROVEMENTS <br /> <br />DATE: JANUARY 29, 2013 PAGE 4 OF 4 <br /> <br />FISCAL IMPACT: <br /> <br /> Sales Tax Mill <br /> Rate to Levy to Annual <br /> Approx Support Sales Support Property <br />Debt Annual Annual Tax Annual Tax on <br />Issuance Debt Debt On Debt $500,000 <br />Amount Service Service $100 Service Home <br />10,000,000 626,000 0.219% 0.22 1.41 56.24 <br />15,000,000 940,000 0.329% 0.33 2.12 84.45 <br />20,000,000 1,253,000 0.439% 0.44 2.83 112.57 <br />25,000,000 1,566,000 0.548% 0.55 3.53 140.69 <br />30,000,000 1,879,000 0.658% 0.66 4.24 168.81 <br />40,000,000 2,506,000 0.877% 0.88 5.66 225.14 <br />50,000,000 3,132,000 1.096% 1.10 7.07 281.39 <br />Assumptions: <br />• Interest Rate on Bonds = Average 2.25% <br />• Term of Bonds = 20 Years <br />• City’s Taxable Sales = $285,700,000 <br />• City’s Net Assessed Valuation = $443,000,000 <br /> <br /> <br />RECOMMENDATION: <br />Discussion: City staff is seeking feedback on the pros and cons of the various revenue <br />generation opportunities to pursue unfunded capital needs in the City. <br /> <br /> <br />ATTACHMENTS: <br />1. Sales Tax Comparison <br />2. Presentation on Use Tax Poll <br /> <br />22