Agenda - Council - 07/28/1981 - Laserfiche WebLink

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-3- the staff has used Data Resources* implicit price deflators' of 5.5 percent, 5.6 percent and 5.3 percent from 1985 to 2000, and five percent thereafter. This provides an Index of $215.2' billion by 2015. The ratio of the existing debt service to the Index was greatest in 1975 at .21 percent. The relationship has continued to decrease to the present. Whether this ensuing debt service capacity is sufficient for future needs of the agencies is yet to be seen. Figure 2 shows the regional Income Index based on the projection of the historical averages, and on the modified projection. 2. Existing Debt Obligations of the MWCC a. Introduction The MWCC, as a result of'acquiring ownership of existing treatment works and interceptors, and of having many additional projects in some stage of planning, design or construction, is currently (Dec. 31, 1980) obligated for $190.6 million of borrowed funds. The MWCC makes payments to, or provides credits for, four separate debt retirement programs. 1) Metropolitan Council bonds. ($801500 Bonds sold by the Metropolitan Council, the proceeds of which were transferred to the MWCC to provide construction funding. 2.) Assumed debt. ($42,777,000) Bonds initially sold by sanitary districts and joint sewer boards which predated the Metropolitan Sewer Service Board (MSSB), the first regional sewer service agency, whose assets were assumed by the MSSB. - 3) Local government debt. ($11,922,488) Bonds sold by local governments to finance certain sanitary sewer improvements, the ownership of which was'" transferred to the MSSB. 4) Current value credits. ($55,382,757). Payment to the local governments for equity in the local treatment works and interceptors which were acquired by the MSSB.