Township Council Meeting — Packet

COMPUTATION AS TO INDEBTEDNESS FOR IMPROVEMENT OR EXTENSION OF AN EXISTING MUNICIPAL PUBLIC UTILITY, N.J.S.A. 40A:2-7(h); NJSA 40A:2-47(a) 1. Annual Debt Statement, excess in revenues of utility 2. Less Interest and principal computed as provided in N.J.S.A. 40A:2-47(a) for all obligations authorized but not issued to the extent not already charged to income in the annual debt statement. 3. Excess revenue prior to authorizing proposed obligations = (column 1 minus column 2) 4. Interest and principal calculated for proposed obligations N.J.S.A. 40A:2-47(a) (a) Interest for one year at 4 1/2% (b) First installment of serial bonds legally issuable (c) Total charges (Items (a) and (b)) Municipal Public Utility 1 2 3 4(a) ADS Excess in Revenues of Utility Less Interest and Principal Excess Revenue Interest for One Year Note: If line 3 equals or exceeds line 4, obligations may be authorized under the provisions of N.J.S.A. 40A:2-7(h) as limited by N.J.S.A. 40A:2-47(a). Page 2 of 5 4(b) 1st Installment of Serial Bonds Legally Issuable 4(c) Total Charges