PPRF Common Debt Service Reserve Fund


Nov 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:   $ 32,193,400     (Actual: $  31,245,600)
    Amount Under Funded:    $ 947,800
    Senior Lien Loans Outstanding:    $ 1,140,818,703
    Max Senior Lien Loan Revenue in 2020:   $ 131,080,279
    Senior Lien Bond Debt Service in 2020:   $ 118,872,962
    CDSR Fund Senior Loan Revenue Coverage:    24.6% (23.8%)
    CDSR Fund Senior Bond Debt Service Coverage:   27.1%   (26.3%)

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 0.5%
State Gross Receipts -0- 5,645,027 4.3%
Total Group One -0- 6,349,853 4.8%
Group Two – 20%
Law Enforcement Fund 42,283 211,417 0.2%
Mill Levy 43,557 217,786 0.2%
General Obligation 5,989,391 29,946,954 22.8%
Gross Receipt 9,207,766 46,038,828 35.1%
Total Group Two 15,282,997 76,414,985 58.3%
Group Three – 35%
Fire Protection Fund 1,483,783 4,239,381 3.2%
Special Assessment 516,536 1,475,818 1.1%
Local Special Tax 5,017,119 14,334,626 10.9%
Net System Revenues 9,892,965 28,265,615 21.6%
Appropriation Loan 0 0 0.0%
Total Group Three 16,910,403 48,315,441 36.9%
Grand Total 32,193,400 131,080,279 100%

Senior Lien Loan Revenue ($millions):

2019   $125.8
2020   $131.1 2021   $123.6 2022   $115.1
2023   $107.7 2024   $  95.2 2025   $  91.8
2026   $  84.2 2027   $  79.8 2028   $  74.9
2029   $  75.6 2030   $  56.3 2031   $  51.3
2032   $  47.2 2033   $  45.4 2034   $  40.4
2035   $  38.3 2036   $  26.7 2037   $  17.3
2038   $  12.5 2039   $    8.8 2040   $    7.6
2041   $    6.8 2042   $    3.2 2043   $    2.9
2044   $    2.9 2045   $    2.8 2046   $    2.1

CDSR Calculation – June 30, 2018
CDSR Calculation – June 30, 2017
CDSR Calculation – June 30, 2016
CDSR Calculation – June 30, 2015

CONTACT

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