Objective 10.1.1. - Debt Obligations.

Latest version.

Cautious use of long-term financing to implement certain major capital projects.

Policy 10.1.1.1. Limit the average annual debt service payable from non-ad valorem revenues to fifty (50) percent of gross non-ad valorem revenues (i.e., all legally available non-ad valorem revenues of the County) for the preceding fiscal year. For the purpose of determining gross non-ad valorem revenues, any non-ad valorem revenues which have been or will be levied for the repayment of debt for a specific purpose (i.e. one (1) cent of Tourist Development Tax for Beach Re-nourishment, Special Assessment revenues, Stormwater Management Fees, etc.) shall not be included in the amount of gross non-ad valorem revenues.

Policy 10.1.1.2. Require that net non-ad valorem revenues for the preceding fiscal year to be at least 1.10 times average annual debt service of all indebtedness of the County payable from non-ad valorem revenues.

                    
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