Baxter council mulls budget, proposed increases Nov 18, 2009
City staffers also have proposed a water treatment plant fee increase for debt service to offset a decline in water availability charge, or WAC, revenues. Residential and commercial WAC rates would remain at $2,800 and $3,100 per unit, respectively, for hookups to city water, but the proposed water treatment plant fees would increase from $2 to $3 per month or from $6 to $9 per month for homes above 15,000 gallons per month. (Brainerd Daily Dispatch)
Budget outlook bleak Nov 18, 2009
Vaughn noted that a number of budget areas were largely exempted from Kaine's cuts--things like K-12 public education, corrections, aid to individuals, financial aid, debt service and payments to localities. He told committee members they could save about $100 million by cutting agencies 10 percent, and $250 million by cutting 15 percent. (Fredericksburg.com, VA)
At Scripps, storytelling's the star Nov 17, 2009
It doesn t have to generate hundreds of millions in cash flow to cover debt service. Still, that didn t keep the company from closing its best newspaper. (Cincinnati Business Courier, OH)
Brutus approves new water line Nov 17, 2009
The board replied if residents holding 51 percent of the assessed value of the total district agreed, everyone in the district would pay a debt service of 142. 03, but those not hooking up wouldn't pay for water. (Auburn Citizen, NY)
Town-meeting support for new police station near unanimous Nov 17, 2009
Money for debt service is money not available for the operating budget, Scibelli said. I agree we need a new station, but it s a question of timing. (Swampscott Reporter, MA)
City council will consider budget Nov 17, 2009
General spending is down, but the overall tax levy, including debt service, will be up by about 400,000. City Clerk Mike Hoppenrath said it is still too early to tell what the tax rate increase will be because the city has not received the assessed valuation totals from Jefferson County. (Watertown Daily Times, WI)
County taxes set to rise in 2010 Nov 16, 2009
While the tax levy includes forestry mill taxes and illegal tax certificate charge backs, the operating levy excludes those items as well as debt service and bridge aid. First dollar credit. (Menomonie Dunn County News, WI)
Swaps Signal Worst Yen Since '05 as Mounting Debt Overwhelms Market Demand Nov 16, 2009
A reasonable estimate that falling savings pushes interest rates higher by 2 percentage points would quadruple debt service costs in 10 years, JPMorgan said. Vice Finance Minister estimated last month that bond sales may hit 50 trillion yen in the fiscal year that started April 1 due to slumping tax revenue, up from the unprecedented 44 trillion estimated in a budget that called for spending a record 102. (Bloomberg -- Japan)
Play hardball with Grizzlies Nov 15, 2009
4 million annual debt service. Backing up that threat: the same owners shuttered the Fresno Falcons ice hockey team just 16 games into a 20-year contract to play at Selland Arena. (Fresno Bee)
XS Cargo Income Fund Reports 2009 Third Quarter Results Nov 14, 2009
Management believes that, in addition to income or loss, EBITDA is a useful supplemental measure of performance and cash available for distribution before debt service, changes in working capital, capital expenditures and income taxes. Distributable cash of the Fund is a measure generally used by open-ended trusts as an indicator of financial performance. (CCNMatthews Press Releases)
McLean Co. forced to up taxes Nov 14, 2009
The total levy includes taxes levied for debt service and Public Building Commission leases. County Administrator Terry Lindberg said that levy is down nearly 5 percent, from $4. (The Pantagraph newspaper)
Letter from IMF Managing Director to Open Civil Meetings, Iceland Nov 14, 2009
This massive assistance has helped stabilize Iceland s exchange rate, protecting citizens who were exposed to foreign exchange and inflation-indexed debt from enormous increases in their debt service burden. It has also made it possible for the government of Iceland to run a large fiscal deficit that has cushioned the impact of the crisis on the economy. (IMF News)
Debt pressure mounts on hotels Nov 14, 2009
The number of hotel owners that are finding themselves in a position of not being able to generate enough profit to meet debt service is growing, said Mark Woodworth, president of , a hospitality research firm based in Atlanta ... 4 million, Lodgian reported, while the annual debt service was nearly $4 million. (Atlanta Business Chronicle, GA)
Town passes budget with 15 percent tax increase Nov 14, 2009
The $100,000 debt service requires a 10 percent increase, and taxes towards the town s general fund and highway department will go up 16 percent. The official numbers were not available until Friday after the passage of the budget because all of the assessment numbers still needed to be tabulated by the town accountant. (Hudson Register Star, NY)
Burlington Telecom Wins New Financing Nov 14, 2009
Leopold explained that the finance package is designed so BT can pay for its debt service without violating state regulations again and at the same time provides for future growth to become successful. "In addition the proposed deferral of debt service will provide Burlington Telecom sufficient internal cash flow to proceed with the capital expenditures for hooking up new customers," Leopold said. (WCAX.com, VT)
Guest Commentary Worth the price Nov 13, 2009
The definition of debt exclusion is an action taken by a community through a referendum vote to raise the funds necessary to pay debt service cost for a particular project. This amount is added to taxes for the life of the debt only. (Billerica Minuteman, MA)
Xtreme Coil Achieves Record Third Quarter EBITDA and Operating Days and Provides Update Nov 13, 2009
A debt service coverage ratio covenant replaces the EBIT interest coverage and funded debt to EBITDA covenants that previously applied to quarterly financial reporting periods. Xtreme Coil was in compliance with all covenants at September 30, 2009. (CCNMatthews Press Releases)
Crossett Board Approves Christmas Bonuses Nov 13, 2009
Norman Hill, district financial manager, said although the district is beginning to see a savings from the closing of two campuses and a savings in debt service savings from the refinancing of bonds, a decrease in state funds from student loss is also reflected in the budget. However, Hill said,"As we go throughout the year, although we're losing money in the school district, we are being able to curtail and bring our expenditures in line with the loss, and I think we will be able to stabilize... (Hamburg Ashley County Ledger, AR)
Letter: Who’s on the hook in Y.C. for $15M? Nov 13, 2009
According to the city, if there is not sufficient revenues to satisfy the loan debt service the city shall raise revenues through increased water rates, user charges, assessments or any other legal means. At the meeting, a few citizens questioned encumbering the city for more than $15 million without determining responsibility for repayment. (Appeal Democrat, CA)
EDITORIAL: Too much borrowing takes state to the financial brink Nov 13, 2009
As a result, millions of dollars more of the state's dangerously depleted revenues will go to debt service and less to schools, health care, social services, prisons and other priorities ... In the 1980s, debt service consumed less than 2% of the state's general fund revenues, but had drifted to 5 ... According to the Legislative Analyst's Office, debt service has become "one of the fastest growing items in the state's strained general fund budget.". (Fresno Bee)
Seattle hiking electricity rates by nearly 14 percent in '10 Nov 13, 2009
"I believe the needs of the people and businesses should always come first. I preferred a lower increase of 7.9 percent that could have given the utility the necessary funds to operate efficiently, improve its debt service coverage ratio to 1.6 and restored $1 million that was cut," said council member Bruce Harrell, in a statement. Most Read Stories. (Puget Sound Business Journal, WA)
Editorial: Debt binge takes state to the brink Nov 12, 2009
As a result, millions of dollars more of the state's dangerously depleted revenues will go to debt service and less to schools, health care, social services, prisons and other priorities ... In the 1980s, debt service consumed less than 2 percent of the state's general fund revenues, but had drifted to 5 ... According to the Legislative Analyst's Office, debt service has become "one of the fastest growing items in the state's strained general fund budget.". (Sacramento Bee -- Opinion)
NI debt problems 'at record high' Nov 12, 2009
Page last updated at 06:45 GMT, Thursday, 12 November 2009. NI debt problems 'at record high. (BBC News -- UK)
County to seek maintenance contract for vet cemetery Nov 12, 2009
Kennedy said that 175,000 goes towards debt service for the cemetery's establishment and that leaves just 50,000 annually for the rest of the operating expenses. Those expenses add up and we need to operate as cost effectively as we can. (Laurel Outlook, MT)
Longview council to discuss utility rates at Thursday's workshop Nov 12, 2009
American to the Core wrote on Nov 11, 2009 11:50 AM:" It is interesting that our local level politicians are trying to be fiscally responsible in planning to control our debt service. Does anybody have a better solution to pay for the utility improvements underway or planned in the near future? It doesn't take a genius accountant to figure we will have $70 million in capital costs for the sewer/water to pay for in the next few years. I only wish our Washington politicians could hold the same... (Longview Daily News, WA)
Proposed Unit 5 tax levy up more than 7 percent Nov 12, 2009
The property taxes extended for debt service and public building commission leases for 2008 were $15. 1 million. (The Pantagraph newspaper)
Red ink is staining more than MBTA Nov 12, 2009
Soaring debt service is a consequence of the T pushing more than $500 million in scheduled debt payments off into the future so it could pay the bills over the last nine years ... 8 billion for debt service this year. (Boston Globe)
Millerton Lake a backdrop for water-bond signing Nov 11, 2009
3 million in annual debt service, assuming a 30-year payment schedule, according to the nonpartisan Legislative Analysts Office. Gov. Arnold Swarzenegger meets Nov. 9 with The Bee's editorial board. (Fresno Bee)
Wenham CPC seeks funds for Civil War fence renovation Nov 11, 2009
In the past three years, the CPC has awarded community preservation funds to the Community House for the portico repair project, $3,800 and a promise to contribute annually for the bond debt for the remainder of its duration; repair of the Buker gym floor, $40,000; approximately $500,000 over 15 years for debt service on the Town Hall renovation; $50,000 for installation of bicycle/pedestrian paths; and $23,250 for work to maintain and improve Pleasant Pond. Wilson explained that the goal of... (Hamilton Wenham Chronicle, MA)
NCHS will get new locker rooms Nov 11, 2009
The board voted to spend $413,683 from the excess debt service fund and $174,669 out of the board priority fund during its meeting Monday night. The board previously approved $400,000 from board operating funds for the project in August -- when the board thought the rest could be paid with major maintenance funds from the state School Facilities Commission. (Casper Star-Tribune, WY)
School per-pupil spending up every year since late 1990s Nov 11, 2009
Spending on capital improvements and debt service was up 2. 6 percent in 2008-09. (Chetek Alert, WI)
Dan Walters: Water plan's size, pork may sink it Nov 10, 2009
Debt service, now nearly 7 percent of the state budget, could hit 10 percent by the middle of the next decade, Lockyer said, calling for a multiyear master plan for financing infrastructure rather than the current election-by-election game. Repaying water bonds will cost as much as $800 million a year. (Fresno Bee -- Local)
Seminole bond Nov 9, 2009
To date, $9 million of the bond has been paid for, and Herriman said payment of the 25-year debt service could be completed in "15, 16 years.". Though an opposing faction bought anonymous advertisements in a local newspaper before the bond was put on the ballot, that voice is all but silent now, Herriman said. (Odessa American, TX)
Council reviews 2010 budget Nov 9, 2009
Excluding debt service expenses, there is a ... 8 percent, excluding debt service payments, the city qualified for an expenditure restraint payment of 63,637 which will be received as part of our 2010 state aids. (Menomonie Dunn County News, WI)
Letters to the editor: on water plan, zoo case Nov 9, 2009
Was that $11 billion in debt service to be foisted on the taxpayers ... Was that $11 billion in debt service to be foisted on the. (San Francisco Chronicle -- Opinion)
Editorial: Right water policy, dubious finances Nov 8, 2009
At its peak, the bond package would obligate the state to spend $809 million yearly in annual debt service. That means $809 million less in future years for schools and social programs, barring an increase in state taxes. (Sacramento Bee -- Opinion)
Portrait of Future Brookfield Leader Nov 7, 2009
During the campaign he provided charts regarding the town's projected debt service for the coming years and discussed equalized tax rates, which provided insight on how Brookfield's tax burden compared with those of other suburban towns in the Greater Danbury area. Mr. Davidson left the Board of Selectmen after one term, apparently to, among other things, devote more time to his recreational pursuits. (New Milford Times, CT)
EDITORIAL: City, Grizzlies can both win Nov 7, 2009
4 million in annual debt service on the stadium bonds. It's time to reach a deal that's fair to the taxpayers and fair to the Grizzlies. (Fresno Bee)
Mediacom Communications Reports Results for Third Quarter 2009 Nov 7, 2009
our ability to generate sufficient cash flow to meet our debt service obligations. fluctuations in short term interest rates which may cause our interest expense to vary from quarter to quarter. (Yahoo! Wire -- Entertainment News)
Davidson Takes Brookfield's Top Position Nov 7, 2009
In an interview in September, Mr. Davidson said the town's debt service would decline over the coming years as the town makes payments on the recent $31. 875 million renovation of Brookfield High School. (New Milford Times, CT)
Gov. seeking more budget-cut power Nov 6, 2009
"I can't cut debt service," he said, noting it's unclear whether he can legally cut the Medicaid budget. "You can't get there by saying let's knock a few percentage points off of everybody's budget," he said. (The Clarion-Ledger)
Durham Performing Arts Center beats revenue expectations Nov 6, 2009
That $400,000 will be deposited into the city s Durham Performing Arts Center enterprise fund, which is used to pay the debt service on the $48 million facility. The city paid $2. (Raleigh Triangle Business Journal, NC)
Brampton Brick Reports Results for the Third Quarter Ended September 30, 2009 Nov 6, 2009
As a result of the losses incurred to date in 2009, which were due to the additional costs incurred during the commissioning and start-up phase of this new operation and the temporary suspension of composting operations for a portion of the year, Universal anticipates that it will not be in compliance with the debt service coverage requirement which becomes effective for the year ending December 31, 2009. Failure to achieve compliance would give the lender the right to demand repayment and to... (CCNMatthews Press Releases)
Water overhaul looks like win for Valley farmers Nov 6, 2009
3 million in annual debt service, assuming a 30-year payment schedule, according to the nonpartisan Legislative Analysts Office. Supporters likely will look to the Valley for votes because the bond potentially includes money for a new dam at Temperance Flat near Millerton Lake, a long-sought goal of east Valley farmers. (Fresno Bee)
California voters have final say over $11 billion water bond Nov 6, 2009
Debt service on the water bond alone would likely cost between 725 million to 809 million a year after all the bonds have sold, he said. Several unions expressed concern about the bond, including a teachers union that fears a dollar used to pay off debt is a dollar less for classroom education and other government services. (Lodi News Sentinel, CA)
Convention Center project moving ahead Nov 6, 2009
Debt service will be paid with proceeds from state-licensed gaming facilities. The slowdown in construction worldwide actually then played a role in speeding up some aspects of construction. (Philadelphia Business Journal, PA)
ResCare Reports Third Quarter 2009 Results Nov 6, 2009
Management routinely calculates and presents EBITDA because it believes that EBITDA is useful to investors and is commonly used as an analytical indicator within the industry to evaluate performance, measure leverage capacity and debt service ability, and to estimate current or prospective enterprise value. EBITDA is also used in measurements under certain covenants contained in the Company's credit agreement. (Primezone Releases)
NoCal bond issue passes Nov 5, 2009
"Although the bond issue passed in all 11 precincts, not everyone supported the bond issue, which will result in an increase of 7 cents per 100 of assessed valuation to the district's debt service levy."I voted against it because I think there ought to be some other way to finance our school situation," said David Haden in Hatton. "There needs to be some other way besides property owners bearing all the expense. There's lots of people that rent, and they're not sharing any of it. (Fulton Sun, MO)
Attendance light at hearing for 2010 city budget Nov 5, 2009
General spending is down, but the overall tax levy, including debt service, will be up by about 400,000. City Clerk Mike Hoppenrath said it is too early to tell what the tax rate increase will be because the city has not received the assessed valuation totals from Jefferson County. (Watertown Daily Times, WI)
Patrick waves off new trans. revenues, Baddour calls for Red Line probe Nov 5, 2009
Patrick waves off new trans. revenues, Baddour calls for Red Line probe - Dover, MA - Dover-Sherborn Press. (Dover Sherborn Tab, MA)
Georgia sells $794 million in bonds Nov 5, 2009
The rates translate into an annually recurring debt service savings of $10 million compared to originally budgeted amounts. This is in addition to annual savings against budget of $8. (Atlanta Business Chronicle, GA)
Layoffs projected for fiscal 2011 Nov 5, 2009
2 million, fixed costs such as snow and ice removal, retirement, employee benefits, unemployment and debt service are projected to increase $618,432 to $16. 1 million. (Marshfield Mariner, MA)
Cornell Companies Reports Third-Quarter 2009 Results -- Updates Guidance for Fourth Quarter and Full Year 2009 Nov 5, 2009
Balance Sheet Data: ------------------ (in thousands) September 30, December 31, 2009 2008 ------------ ----------- Cash and cash equivalents $ 4,972 $ 14,613 Working capital 56,789 49,385 Property and equipment, net 451,944 450,354 Total assets 635,948 636,921 Long-term debt 292,798 308,070 Total debt 306,211 320,482 Stockholders' equity 251,478 228,167 MCF Reserve Balances: --------------------- Bond Fund Payment Account 3,907 10,286 Debt Service Reserve Fund 23,370 23,750 CORNELL COMPANIES,... (Primezone Releases)
Central voters approve bond issue Nov 5, 2009
What this means is the debt service load will be carried out longer; thus you will be paying for this, just at a later date. Leave a Comment. (Park Hills Daily Journal, MO)
New storm water charge proposed Nov 4, 2009
to pay for a grant or a debt service program, explained Whitesell. Currently, we only have one way of doing so through the waste water, but it is pretty much bonded out at this point. (Hartford City News-Times, IN)
Enbridge Income Fund Announces Third Quarter Results, Evaluating Corporate Restructuring Nov 3, 2009
Cash retained by Alliance Canada and Green Power includes debt service reserves, capital expenditures and other cash needed to fund working capital or other requirements of these segments. (6) Change in operating assets and liabilities in the period reflect changes in non-cash working capital related to operating activities. (CCNMatthews Press Releases)
Ocean Bank narrows losses Nov 3, 2009
Macedo said the bank has been making extensions with borrowers who prove they can cover a loan s debt service from a revenue stream on the property or borrowers who can front the annual interest charges for the loan. For loans that didn t work out, Ocean Bank added $27. (South Florida Business Journal, FL)
Budget hearing Tuesday Nov 3, 2009
Although general spending is down, the overall tax levy, including debt service, will be up by about 400,000, and the tax rate needed to fund the budget is now estimated at 7. 198 per 1,000 of assessed valuation. (Watertown Daily Times, WI)
Weekly State House News Roundup: The Citizen Advisers Nov 2, 2009
Or that the state would slicken its slope into the red by cutting debt service payments nearly in half. Only the dogged. (Hamilton Wenham Chronicle, MA)
Reed says he can deliver 750 cops Nov 2, 2009
The money that is not used in debt service or pension obligations, I will redirect to hire more police, he said. Borders said it wasn t possible. (Atlanta Journal-Constitution -- Metro)
The Real Pending Crisis: Public Pensions Nov 2, 2009
The CBO, an entity not given to flights of conservative hysteria, has predicted that in about two decades Social Security, Medicare, Medicaid, and debt service will consume the entire federal budget. No more armed forces, highway repair, NEA, NPR.. (Townhall.com)
We will pay for Fed's borrow short, lend long strategy Nov 1, 2009
What's more, it leaves the nation at the mercy of the credit markets, due to the very real potential that short-term rates could shoot up, a move that would add billions per year to the cost of debt service ... What's more, it leaves the nation at the mercy of the credit markets, due to the very real potential that short-term rates could shoot up, a move that would add billions per year to the cost of debt service. (New York Post -- Business)
Patrick slashes $277M in spending Nov 1, 2009
Also in the bill, Patrick included new insurance surcharges for municipal police training, an owner-controlled insurance program for construction projects over $50 million, a clause shielding from taxpayers communications between Department of Revenue employees and contractors, a measure to nearly halve the state s short-term debt service, and a clause boosting his power to transfer money between line items. The package cuts $1. (Belmont Citizen Herald, MA)
Lookofsky: New deck will meet real parking needs Nov 1, 2009
Citizens should know that the proposed fees for the parking deck will be used to cover the operating costs and the related debt service. The proposed fees presented are for the new parking deck only. (Athens Banner-Herald)
Georgia keeps Triple-A bond ratings Oct 31, 2009
3 million in debt service savings in the fiscal 2009 budget and $32 million in one-time savings for refinancing outstanding bonds to lower rates. The ratings come in advance of next week s negotiated sale of up to $700 million in tax-exempt and taxable Build America Bonds. (Atlanta Business Chronicle, GA)
