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Okaloosa County BOCC — December 5, 2012 — reading text
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reconstruction or renovation of a
convention center and to pay the planning and design costs
incurred prior to the issuance of such bonds.
The Board determines that the extension of the fourth
percentage point is necessary to provide funds to operate,
maintain, repair or renew the Convention Center. Therefore,
following the expiration of bonds issued to fund the
construction of the convention center, the proceeds of the
fourth percentage point shall be used for any future
expansion, renovation or reconstruction of the convention
center.
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10/1/12 Fund Balance--------------------------- $3,531,331.00
Tax Revenue---------------------------------------- 2,100,000.00
Interest---------------------------------------------- 100,000.00
TOTAL $5,731,331.00
Charges & Fees------------------------------------ $ 63,000.00
Capital Project Deployment-------------------- 1,950,000.00
Principle, Interest & Fees----------------------- 326,000.00
Reserve for Debt Service ----------------------- 3,142,331.00
Contingency – Repair & Replacement------- 250,000.00
TOTAL $5,731,331.00
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