Debt re-payment and Quick Overview with future cost projections

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You may visit the information HERE on the website.

CMD#1 issued $5 million in bonds in 2015. The money was used for repairs and improvements to the water distribution system so that it could be turned over to Colorado Springs Utilities. Ratepayers are paying back this debt as detailed in the table of costs and revenue below. Payments increase with time as required to meet the bonds payment schedule and cover the balloon payments at the end of the finance term. The CMD#1 Board of Directors is hoping to refinance the bonds in 2023 but will do so only if the refinancing will result in lower costs to the ratepayers.

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   Revenue   Expense - Bond Payment 
Year  Debt Service Fee   * Monthly Operations Fee  Total Monthly Bill % Increase  Interest   Principal  Total Annual Payment
2020  $           78.04  $             18.00  $              96.04 4%  $  275,250.00  $       55,000.00  $                330,250.00
2021  $           81.16  $               8.34  $              89.50 4%  $  272,525.00  $       65,000.00  $                337,525.00
2022  $           84.41  $               8.34  $              92.75 4%  $  269,325.00  $       65,000.00  $                334,325.00
2023  $           87.78  $               8.34  $              96.12 4%  $  266,125.00  $       75,000.00  $                341,125.00
2024  $           91.30  $               8.34  $              99.64 4%  $  262,450.00  $       80,000.00  $                342,450.00
2025  $           94.95  $              8.34  $            103.29 4%  $  258,500.00  $       90,000.00  $                348,500.00
2026  $           98.75  $              8.34  $            107.09 4%  $  254,075.00  $       90,000.00  $                344,075.00
2027  $         102.70  $              8.34  $            111.04 4%  $  249,650.00  $     110,000.00  $                359,650.00
2028  $         106.80  $              8.34  $            115.14 4%  $  243,600.00  $     120,000.00  $                363,600.00
2029  $         111.08  $              8.34  $            119.42 4%  $  237,000.00  $     125,000.00  $                362,000.00
2030  $         115.52  $              8.34  $            123.86 4%  $  230,125.00  $     135,000.00  $                365,125.00
2031  $         120.14  $              8.34  $            128.48 4%  $  222,700.00  $     145,000.00  $                367,700.00
2032  $         124.94  $              8.34  $            133.28 4%  $  214,725.00  $     150,000.00  $                364,725.00
2033  $         129.94  $              8.34  $            138.28 4%  $  206,475.00  $     155,000.00  $                361,475.00
2034  $         135.14  $              8.34  $            143.48 4%  $  197,950.00  $     165,000.00  $                362,950.00
2035  $         140.55  $              8.34  $            148.89 4%  $  188,875.00  $  1,170,000.00  $             1,358,875.00
2036  $         146.17  $              8.34  $            154.51 4%  $  123,900.00  $  2,065,000.00  $             2,188,900.00
               
           

 *set by board based on annual expenses for management and legal services