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TABLE 8
<br />PROJECT AREA
<br />PROJECTED DEBT SERVICE COVERAGE"
<br />NO GROWTH
<br />FISCAL YEARS 2018/19 THROUGH 2031/32
<br />Year
<br />Pledged Tax
<br />Debt Service
<br />Debt Service
<br />(As of September 1)
<br />Revenues
<br />2018 Bonds"
<br />Coverage Ratio`
<br />2019
<br />$58,358,906
<br />$ 7,993,524
<br />7.30
<br />2020
<br />58,358,906
<br />9,728,622
<br />6.00
<br />2021
<br />58,358,906
<br />8,639,730
<br />6.75
<br />2022
<br />58,358,906
<br />8,940,695
<br />6.53
<br />2023
<br />58,358,906
<br />9,269,468
<br />6.30
<br />2024
<br />58,358,906
<br />9,585,695
<br />6.09
<br />2025
<br />58,358,906
<br />9,912,626
<br />5.89
<br />2026
<br />58,358,906
<br />10,235,754
<br />5.70
<br />2027
<br />58,358,906
<br />11,171,326
<br />5.22
<br />2028
<br />58,358,906
<br />3,814,417
<br />15.30
<br />2029
<br />58,358,906
<br />3,201,949
<br />18.23
<br />2030
<br />58,358,906
<br />1,166,500
<br />50.03
<br />2031
<br />58,358,906
<br />1,163,750
<br />50.15
<br />2032
<br />58,358,906
<br />1,163,375
<br />50.16
<br />Preliminary, subject to change
<br />Source: The Underwriter.
<br />The projected Tax Revenues shown above are subject to several variables described below. See "RISK
<br />FACTORS." The Successor Agency provides no assurance that the projected Tax Revenues will be achieved.
<br />TABLE 9
<br />PROJECT AREA
<br />PROJECTED DEBT SERVICE COVERAGE"
<br />GROWTH ASSUMED(n
<br />FISCAL YEARS 2018/19 THROUGH 2031/32
<br />Year
<br />Pledged Tax
<br />Debt Service
<br />Debt Service
<br />(As of September 1)
<br />Revenues
<br />2018 Bonds"
<br />Coverage Ratio
<br />2019
<br />$58,358,906
<br />$ 7,993,524
<br />7.30
<br />2020
<br />59,657,620
<br />9,728,622
<br />6.13
<br />2021
<br />60,980,299
<br />8,639,730
<br />7.06
<br />2022
<br />62,327,373
<br />8,940,695
<br />6.97
<br />2023
<br />63,690,167
<br />9,269,468
<br />6.87
<br />2024
<br />65,087,114
<br />9,585,695
<br />6.79
<br />2025
<br />66,509,786
<br />9,912,626
<br />6.71
<br />2026
<br />67,958,641
<br />10,235,754
<br />6.64
<br />2027
<br />69,434,150
<br />11,171,326
<br />6.22
<br />2028
<br />70,936,787
<br />3,814,417
<br />18.60
<br />2029
<br />72,456,388
<br />3,201,949
<br />22.63
<br />2030
<br />74,014,467
<br />1,166,500
<br />63.45
<br />2031
<br />75,601,145
<br />1,163,750
<br />64.96
<br />2032
<br />77,216,930
<br />1,163,375
<br />66.37
<br />Preliminary, subject to change.
<br />(D Annual growth for assessed values assumed at 2% beginning fiscal year 2018/19.
<br />Source: The Underwriter.
<br />40
<br />SA -3-54
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