2024-02-21-minutes-solid-waste-and-maintenance

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Staff Report by: Topic: Meeting Brian Carlson Preliminary Debt -Service Analysis for Building Maintenance Budget and Finance Director Proposed New County Courthouse Study Session Feb 21, 2024 Summary: • Preliminary calculations and notes regarding proposed new courthouse costs and bonding capacity. • Calculations and graphics assume new/additional levy to support project costs. • Illustrations and assumptions are deliberately simplified as a starting -point to orient management to the costs and impacts. • While County has additional balances and revenues (e.g. REET), additional discussion is needed among Directors and BOCC so as to clarify current assumptions and commitments, informal and formal. Background & Analysis: • County has limits to its ability to issue debt, articulated in the County Debt Limits and Capacity ($MM) Constitution and in State Statutes. The limits are a function Councilmanic Limit($MM) $ 231 of Assessed Value ("AV"), which changes annually. Debt Total Limit($MM) $ 385 limits are shown to the right, based on 2024 AV. Current Debt Principal $ 5 • "Councilmanic" figures refer to "non -voted" debt, i.e. debt Councilmanic Debt Capacity $ 226 that BOCC is authorized to issue without voter approval. • "Annual Debt Service" shows annual cost Annual Debt Service of principal and interest debt service for 20- and 30-Years @ 3.75% both 20- and 30-year debt issues, at $20 varying levels of issuance. Labeled figures $15 ;`Ri show +/- $10MM annually fora $150MM $10.8 $10 lF1$8.4 issue. a --- �— � _f �.��, ail I I i N. $0 I $50 $75 $100 $125 $150 $175 $200 $225 Initial Principal ($MM) • "Current and Proposed Mill Rates" shows Current and Proposed Mill Rates the additional mill rate needed to provide 2.5 2.28 $10MM annually. The additional 2.0 "Courthouse" rate is roughly equal to the 1.52 current "General Fund" rate. 1.5 1.0 0.69 0.83 0.76 0.5 Ge"e�a\ 910 ad