PPRF Common Debt Service Reserve Fund


Jun 30, 2018

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:   $ 30,608,760     (Actual: $  30,953,076)
    Amount Over Funded:    $ 344,316
    Senior Lien Loans Outstanding:    $ 1,071,218,503
    Max Senior Lien Loan Revenue in 2020:   $ 123,919,932
    Senior Lien Bond Debt Service in 2020:   $ 116,144,449
    CDSR Fund Senior Loan Revenue Coverage:    24.7% (25.0%)
    CDSR Fund Senior Bond Debt Service Coverage:   26.4%   (26.7%)

Common Debt Service Reserve Calculation Methodology

Amount 2020 Loan % of 2020
Risk Group Reserved Revenue Loan Revenue
Group One – 0%
Govt Gross Receipts -0- 704,826 0.6%
State Gross Receipts -0- 5,645,027 4.6%
Total Group One -0- 6,349,853 5.1%
Group Two – 20%
Law Enforcement Fund 42,283 211,417 0.2%
Mill Levy 43,557 217,786 0.2%
General Obligation 5,227,849 26,139,243 21.1%
Gross Receipt 8,740,668 43,703,338 35.3%
Total Group Two 14,054,357 70,271,783 56.7%
Group Three – 35%
Fire Protection Fund 1,467,072 4,191,635 3.4%
Special Assessment 696,532 1,990,092 1.6%
Local Special Tax 4,322,258 12,349,308 10.0%
Net System Revenues 10,068,541 28,767,260 23.2%
Appropriation Loan 0 0 0.0%
Total Group Three 16,554,403 47,298,296 38.2%
Grand Total 30,608,760 123,919,932 100%

Senior Lien Loan Revenue ($millions):

2019   $123.6
2020   $123.9 2021   $116.8 2022   $105.1
2023   $  98.0 2024   $  88.3 2025   $  85.1
2026   $  78.3 2027   $  74.0 2028   $  70.8
2029   $  71.5 2030   $  52.4 2031   $  47.5
2032   $  44.2 2033   $  43.4 2034   $  38.9
2035   $  38.4 2036   $  26.8 2037   $  17.4
2038   $  12.6 2039   $    9.1 2040   $    7.8
2041   $    7.0 2042   $    3.4 2043   $    3.1
2044   $    3.1 2045   $    3.0 2046   $    2.3
CONTACT

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