Aquatic & Community Centers and Storm Water Infrastructure Programs

Parks & Storm Water - ½% Sales Tax

Proposition P Financing Status:

• Prop-P - expected to generate approximately $1.19M annually for 20 years.
  • Revenue receipt history:  2008 » $1.239M     2009 »  $1.068M
• Unobligated revenue balance from 2008:  $728K
• Certificates of Participation (COP) sold:  $14.110M
• True Interest Cost:  4.69%
• Total Cost:  $20.240M
• Net available for projects:  $12.667M
• Funds Obligated for Aquatic & Community Centers:  $8.745M
• Funds Committed for Storm Water Projects:  $3.294M
• Uncommitted COP Funds:  $627K

Annual Revenue Required to Repay Debt:  $1.072M

Apparent Current Revenue Rate:  $1.038M

What are the approved Aquatic & Community Center Projects?

• Aquatic Center
  • Competition & Dive Pool  (60' x 75')
  • Leisure Pool with zero-depth entry
  • Lazy River  (400')
• Community Center
  • Parks Department offices
  • Meeting rooms
  • Multi-purpose room
  • Fitness Center
  • Gymnasium