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<br />. <br /> <br />Calculation of Maximum Annual Debt Service <br />Existing Obligations <br /> <br />. <br /> <br />. <br /> <br />$10,320,000 2001A Florida Municipal Loan <br />Council Max Annual DS <br /> <br />$17,945,000 2002C Florida Municipal Loan <br />Council Max Annual DS <br />$20,000,000 Promissory Note (2009) Max <br />Annual DS <br />Proposed $15,000,000 Bonds, Series 2010 Max <br />Annual DS <br /> <br />$ 729,841 <br /> <br />1,402,929 <br /> <br />1,472,583 <br /> <br />1,384,908 <br /> <br />. <br /> <br />Total Existing and Proposed Maximum Annual <br />Debt Service <br /> <br />$ 4,990,261 <br /> <br /> <br />. TEST 1 <br /> Available Non-Ad Valorem Revs (last 2 yrs) $ 19,565,713 <br /> Actual Coverage 392% <br /> Required Coverage 300% <br />. Coverage Test For Additional Bonds Test Met? Yes <br /> TEST 2 <br />. Total Existing and Proposed Maximum Annual <br /> Debt Service $ 4,990,261 <br /> Governmental Fund Revenues 31,863,751 <br />. Actual Coverage 16% <br /> Required Coverage 20% <br /> Coverage Test For Additional Bonds Test Met? Yes <br />. <br /> FY2007 FY2008 FY2009 <br /> Audited Audited Unaudited <br /> Available Non-Ad Valorem Revenues $9,809,242 $9,756,471 $10,901,101 <br /> Governmental Fund Revenues 37,283,749 31,863,751 37,240,115 <br />. <br /> <br />{MI887427_1} <br /> <br />. <br />