PPRF Common Debt Service Reserve Fund


Jan 31, 2017

Calculated on the Total PPRF Senior Lien Loan Portfolio Revenues
Based on the Year in Which the Loan Revenue Amount is Greatest
Funds are Held by Trustee as Indentured Funds


Common Debt Service Reserve Funding Calculation:   $ 25,888,648     (Actual: $  30,525,395)
    Amount Over Funded:    $ 4,636,747
    Senior Lien Loans Outstanding:    $ 1,071,798,370
    Max Senior Lien Loan Revenue in 2018:   $ 111,067,356
    Senior Lien Bond Debt Service in 2018:   $ 99,611,120
    CDSR Fund Senior Loan Revenue Coverage:    23.3% (27.5%)
    CDSR Fund Senior Bond Debt Service Coverage:   26.0%   (30.6%)

Common Debt Service Reserve Calculation Methodology

Amount 2018 Loan % of 2018
Risk Group Reserved Revenue Loan Revenue
Group One – 0%
   Law Enforcement Fund -0- 229,696 0.2%
   Govt Gross Receipts -0- 701,884 0.6%
   Fire Protection Fund -0- 4,488,434 4.0%
   State Gross Receipts -0- 7,196,405 6.5%
Total Group One -0- 12,616,418 11.4%
Group Two – 20%
   Mill Levy 53,782 268,910 0.2%
   General Obligation 4,162,982 20,814,910 18.7%
   Gross Receipt 7,208,810 36,044,051 32.5%
Total Group Two 11,425,574 57,127,871 51.4%
Group Three – 35%
   Special Assessment 659,631 1,884,659 1.7%
   Local Special Tax 4,574,444 13,069,840 11.8%
   Enterprise System Revenues 9,228,999 26,368,567 23.7%
Total Group Three 14,463,074 41,323,067 37.2%
Grand Total 25,888,648 111,067,356 100%

Senior Lien Loan Revenue ($millions):

2017   $107.3
2018   $111.1 2019   $109.3 2020   $108.9
2021   $103.6 2022   $  93.9 2023   $  88.1
2024   $  79.5 2025   $  76.8 2026   $  67.9
2027   $  62.3 2028   $  61.6 2029   $  62.9
2030   $  44.2 2031   $  39.4 2032   $  37.1
2033   $  37.2 2034   $  34.8 2035   $  33.9
2036   $  22.2 2037   $  12.7 2038   $  11.8
2039   $    8.9 2040   $    7.6 2041   $    6.9
2042   $    3.3 2043   $    3.1 2044   $    3.1
CONTACT

Direct Comments, Requests or Questions to:
Michael Zavelle, Chief Financial Strategist NMFA, 505-992-9639, EMAIL