95-071 Ordinance - Laserfiche WebLink

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?.? ?,.. .o Operating Receipts: Golf Course $ 615,000 Golf Cart Rentals 200,000 Multipurpose Room $ 385.000 Total Operating Receipts: $1,200,000 Operating Expenditures: Personal Services $ 382,200 Contractual Services 100,000 Other 421,805 Total Operating Expenditures: $ 904,005 Operating Receipts Over (Under) Expenditures $ 295,995 1996 Estimated Debt Charges on Notes $ 200,000 5. The estimated receipts of the City (not including the proceeds of any taxes levied by the City) to be derived from the operation of the improvements during 1995 and 1996 are sufficient to pay the City's estimated current expenses of operating the improvements during 1996 and the estimated debt chazges on the Bonds during 1996, assuming that the Bonds are issued on June l, 1996, in the aggregate principal amount of $4,100,000, bearing interest (payable on June 1 and December 1 of each year) at an estimated rate of 6-3/4 % per year and maturing on December 1 in each of the years from 1997 through 2021 in annual principal installments in amounts which are integral multiples of $5,000, which principal installments are such that the debt service on the Bonds in each calendar year in which principal is payable is substantially equal, all as set forth below: Operating Receipts: Golf Course $1,248,500 Golf Cart Rentals 406,000 Multipurpose Room $ 781.500 Tota1 Operating Receipts: $2,436,000 Operating Expenditures: Personal Services $ 781,700 Contractual Services $ 200,000 Other $ 811.805 Total Operating Expenditures: $1,793,505 Operating Receipts Over (Under) Expenditures $ 642,495 1996 Estimated Debt Charges on Bonds $ 135,500 Dated: May 16, 1995 Director of Finance City of North Olmsted, Ohio D03:100523.DOCS.NOR05223]FOC_SPRIN(3VALE 4.100 . . .. . .... . . ....... . . • .w.,..?es.w ....x...?.?x+r...:,-r ...?,,:...«as.u.?w.?.?m?.:.±?:?. . ._ .??Aar,.v`a .... ,:::;. .:.. . . .... . .