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<br />The City has historically paid debt service requirements on its general obligation system debt from Surplus Revenues of the system and intends to <br />continue to do so in the future. However, in the event the Surplus Revenues are not on deposit or budgeted for deposit in the Interest and <br />Sinking Fund in advance of the time when ad valorem taxes are scheduled to be levied, then the City is obligated to levy and collect an ad valorem <br />tax sufficient to pay principal of and interest on such system debt and the outstanding general obligation bonds. <br /> <br />COVERAGE FACTOR (Revenue Bonds Only) <br /> <br />TABLE CD-9 <br /> <br />A verage Annual Debt Service Requirement <br />Net Revenue available for debt service for fiscal year ended 9-30-06 <br />Estimated average annual revenue debt service following the issuance of the Bonds (2007- 2020) <br />Coverage Factor <br /> <br />$ <br />$ <br /> <br />6,144,754 <br />1,557,335 <br />3.95 x <br /> <br />Maximum Annual Debt Service Requirement <br />Net Revenue available for debt service for fiscal year ended 9-30-06 <br />Estimated maximum annual revenue debt service following the issuance of the Bonds (2007) <br />Coverage Factor <br /> <br />$ <br />$ <br /> <br />6,144,754 <br />2,182,054 <br />2.82 x <br /> <br />COVERAGE FACTOR (Revenue Bonds Plus System General Obligation Debt) <br /> <br />TABLE CD-lO <br /> <br />A verage Annual Debt Service Requirement <br />Net Revenue available for debt service for fiscal year ended 9-30-06 <br />Estimated average annual system debt service including system GO Bonds (2007 - 2020) <br />Coverage Factor <br /> <br />$ <br />$ <br /> <br />6,144,754 <br />2,394,189 <br /> <br />2.57 x <br /> <br />Maximum Annual Debt Service Requirement <br />Net Revenue available for debt service for fiscal year ended 9-30-06 <br />Estimated maximum annual system debt service including system GO Bonds (GO-2012 Rev-2007) <br />Coverage Factor <br /> <br />$ <br />$ <br /> <br />6,144,754 <br />3,662,819 <br />1.68 x <br /> <br />102 <br /> <br />i <br />