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Port RepublicGreen Risk

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2012 Annual Debt Statement

BID #: N/A

ISSUED: 1/18/2013

DUE: TBD

VALUE: $940,000

100

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Executive Summary

The document is the Annual Debt Statement for the City of Port Republic, New Jersey, for the budget year ending December 31, 2012. It details the city's gross debt, deductions, and net debt, including obligations for municipal, county, local school, and regional school purposes. As of the statement date, the city's municipal/county general obligation debt is reported as $940,000.00, with an equal net debt of $940,000. The equalized valuation basis is calculated as $139,343,493.00, resulting in a net debt expressed as 0.675% of the equalized valuation basis.

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--- Document: 2012 Annual Debt Statement Document ---
ADS File Name: 0120_ads_2012.xls
Press here to Email the ADS if not using Microsoft outlook when completed.
State of New Jersey
Department of Community Affairs
Annual Debt Statement
0120 0120 Port Republic City - County of Atlantic
Budget Year Ending: 31-Dec-2012
Name: Gina Simon
Title: Acting Chief Financial Officer
Address: 143 Main Street
Port Republic, NJ 08241
Date Prepared:
18-Jan-2013
(Month-DD)
2012 (year)
Phone: 609-652-1501
Fax: 609-652-8270
Email: ginasimon.portrepublic@comcast.net
CFO Cert #:
Gina Simon, being duly sworn, deposes and says: Deponent is the Chief Financial Officer of 0120 Port Republic City -
1 County of Atlantic here and in the statement hereinafter mentioned called the local unit. This Annual Debt Statement
is a true statement of the debt condition of the local unit as of the date therein stated above and is computed as
provided by the Local Bond Law of New Jersey.
By checking this box, I am swearing that the above statement is true.
(The Email function will not work until you acknowledge the above
Gross Debt
Deduction
Total Bonds and Notes for Local School Purposes
$
$
$
Total Bonds and Notes for Regional School Purposes
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Net Debt
Municipal/County General Obligations
$
940,000.00
$
$
940,000.00
2 Total
$
940,000.00
$
$
940,000.00
3
Equalized valuation basis (the average of the equalized valuations of real estate, including improvements and the assessed
valuation of class II railroad property of the local unit for the last 3 preceding years).
Year
Equalized Valuation Real Property with Improvements plus assessed valuation of Class II
2010 RR Property
$
143,267,037.00
Equalized Valuation Real Property with Improvements plus assessed valuation of Class II
2011 RR Property
$
139,963,512.00
Equalized Valuation Real Property with Improvements plus assessed valuation of Class II
2012 RR Property
4 Equalized Valuation Basis - Average of (1), (2) and (3)..
5 Net Debt expressed as a percentage of such equalized valuation basis is: %
$
134,799,930.00
$
139,343,493.00
0.675%
summary
Page 1
BONDS AND NOTES FOR LOCAL SCHOOL PURPOSES
Local School District Type (select one):
Туре II
1 Term Bonds
$
2 Serial Bonds
(a) Issued
$
(b) Authorized but not issued
$
3 Temporary Notes
(a) Issued
(b) Authorized but not issued
$
$
4 Total Bonds and Notes
$
DEDUCTIONS APPLICABLE TO BONDS AND NOTES - FOR SCHOOL PURPOSES
Amounts held or to be held for the sole purpose of paying bonds and notes included above.
Sinking funds on hand for bonds shown as Line 1 but not in excess of
5 such bonds.
runus от папа m most casts with such runas cam01 De arvenσα του
purposes other than the payment of bonds and notes included in Line
6 4.
Estimated proceeds of bonds and notes authorized but not issued
where such proceeds will be used for the sole purpose of paying
7 bonds and notes included in Line 4.
$
$
$
$
139,343,493.00 0.00% $
8% of average of equalized valuations
Use applicable per centum as follows:
2.50% Kindergarten or Grade 1 through Grade 6
3.00% Kindergarten or Grade 1 through Grade 8
3.50% Kindergarten or Grade 1 through Grade 9
4.00% Kindergarten or Grade 1 through Grade 12
9 Additional State School Building Aid Bonds (NJSA 18A:58-33.4(d)) $
10 Total Potential Deduction
Total Allowable Deduction
$
$
local school
BONDS AND NOTES FOR REGIONAL SCHOOL PURPOSES
Regional School District
1
TERM BONDS
2 SERIAL BONDS
(a) Issued
(b) Authorized but not issued
3 TEMPORARY BONDS AND NOTES
(a) Issued
(b) Authorized but not issued
$
$
$
$
4 TOTAL OF REGIONAL SCHOOL BONDS AND NOTES
DEDUCTIONS APPLICABLE TO BONDS AND NOTES - FOR SCHOOL PURPOSES
$
Amounts held or to be held for the sole purpose of paying bonds and notes included on the opposite page (Items 1, 2, 3, 5, 6)
5
Sinking funds on hand for bonds shown as Line 1, Page 2 of this statement but not in
excess of such bonds.
$
6
Funds on hand in those cases where such funds cannot be diverted to purposes other
than the payment of bonds and notes included in Line 4, Page 2
$
7
Estimated proceeds of bonds and notes authorized but not issued where such
proceeds will be used for the sole purpose of paying bonds and notes included in
$
$
139,343,493.00
0.00%
$
8% of average of equalized valuations as stated in Line 5, Page 1
Use applicable per centum as follows: (2.5% K/1-6, 3.0% K/1-8, 3.5% K/1-9, 4.0% K/1-12)
9 Additional State School Building Aid Bonds (NJSA 18A:58-33.4(d))
10 Total Potential Deduction
Total Allowable Deduction
$
$
139,343,493.00
S
NJSA 40A:2-43 reads in part as follows: " Gross debt of a municipality shall also include that amount of the total of all the bonds and notes
issued and authorized but not issued by any school district including the area of the municipality, which results from the application to such
total of the ratio which the equalized valuation basis of the municipality bears to the sum of the equalized valuation basis of each
municipality in any such school district."
COMPUTATION OF REGIONAL AND/OR CONSOLIDATED SCHOOL DISTRICT DEBТ
% OF VALUATIONS APPORTIONED TO EACH MUNICIPALITY
Municipality
Average Equalized %
APPORTIONMENT OF DEBT - Dec. 31 2011
Totals
Valuations
Serial Bonds
Issued
Temp. Bond-
Authorized
Notes Issued
But not Issued
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
$
0.00% $
$
$
regional school
BONDS AND NOTES FOR UTILITY FUND
IV. None
1. Term bonds
Utility
$
2. Serial bonds
(a)
Issued
$
(b)
Authorized but not issue
$
3 Bond Anticipation Notes
(a)
Issued
$
(b)
Authorized but not issued
$
4 Capital Notes (N.J.S.A. 40A:2-8)
(a)
Issued
$
(b)
Authorized but not issued
$
5 Other
(a)
Issued
$
(b)
Authorized but not issued
$
6 Total
$
DEDUCTIONS APPLICABLE TO BONDS AND NOTES FOR SELF-LIQUIDATING PURPOSES
Self-Liquidating Utility Calculation
1. Total Cash Receipts from Fees, Rents or Other Charges for Year
2. Operating and Maintenance Cost
3. Debt Service
$
$
(a)
Interest
$
(b)
Notes
$
(c)
Serial Bonds
$
(d)
Sinking Fund Requirements
$
4. Debt Service per Current Budget (N.J.S.A. 40A:2-52)
(a)
(b)
Interest on Refunding Bonds
$
Refunding Bonds
$
5. Anticipated Deficit in Dedicated Assessment Budget
6. Total Debt Service
7. Total Deductions (Line 2 plus Line 6)
8. Excess in Revenues (Line 1 minus Line 7)
9. Deficit in Revenues (Line 7 minus Line 1)
10. Total Debt Service (Line 6)
11. Deficit (smaller of Line 9 or Line 10)
If Excess in Revenues (Line 8) all Utility Debt is Deductible
$
$
$
$
$
$
$
(a) Gross
None
System Debt
(b) Less: Deficit (Capitalized at 5%), (Line 9 or line 11)
$
(c) Deduction
times 20
(d) Plus: Cash held to Pay Bonds and Notes included in 2 (a) above
(e) Total Deduction (Deficit in revenues)
Total Allowable Deduction
$
$
$
$
$
$
BONDS AND NOTES FOR UTILITY FUND
IV. None
1. Term bonds
Utility
$
2. Serial bonds
(a)
Issued
$
(b)
Authorized but not issue
$
3 Bond Anticipation Notes
(a)
Issued
$
(b)
Authorized but not issued
$
4 Capital Notes (N.J.S.A. 40A:2-8)
(a)
Issued
$
(b)
Authorized but not issued
$
5 Other
(a)
Issued
$
(b)
Authorized but not issued
$
6 Total
$
DEDUCTIONS APPLICABLE TO BONDS AND NOTES FOR SELF-LIQUIDATING PURPOSES
Self-Liquidating Utility Calculation
1. Total Cash Receipts from Fees, Rents or Other Charges for Year
2. Operating and Maintenance Cost
3. Debt Service
$
$
(a)
Interest
$
(b)
Notes
$
(c)
Serial Bonds
$
(d)
Sinking Fund Requirements
$
4. Debt Service per Current Budget (N.J.S.A. 40A:2-52)
(a)
(b)
Interest on Refunding Bonds
$
Refunding Bonds
$
5. Anticipated Deficit in Dedicated Assessment Budget
6. Total Debt Service
7. Total Deductions (Line 2 plus Line 6)
8. Excess in Revenues (Line 1 minus Line 7)
9. Deficit in Revenues (Line 7 minus Line 1)
10. Total Debt Service (Line 6)
11. Deficit (smaller of Line 9 or Line 10)
If Excess in Revenues (Line 8) all Utility Debt is Deductible
$
$
$
$
$
$
$
(a) Gross
None
System Debt
(b) Less: Deficit (Capitalized at 5%), (Line 9 or line 11)
$
(c) Deduction
times 20
(d) Plus: Cash held to Pay Bonds and Notes included in 2 (a) above
(e) Total Deduction (Deficit in revenues)
Total Allowable Deduction
$
$
$
$
$
$
BONDS AND NOTES FOR UTILITY FUND
IV. None
1. Term bonds
Utility
2. Serial bonds
(a)
Issued
(b)
Authorized but not issue
$
$
$
3 Bond Anticipation Notes
(a)
Issued
$
(b)
Authorized but not issued
$
4 Capital Notes (N.J.S.A. 40A:2-8)
(a)
Issued
$
(b)
Authorized but not issued
$
5 Other
(a)
Issued
$
(b)
Authorized but not issued
$
6 Total
$
DEDUCTIONS APPLICABLE TO BONDS AND NOTES FOR SELF-LIQUIDATING PURPOSES
Self-Liquidating Utility Calculation
1. Total Cash Receipts from Fees, Rents or Other Charges for Year
2. Operating and Maintenance Cost
3. Debt Service
$
$
(a)
Interest
$
(b)
Notes
$
(c)
Serial Bonds
$
(d)
Sinking Fund Requirements
$
4. Debt Service per Current Budget (N.J.S.A. 40A:2-52)
(a)
(b)
Interest on Refunding Bonds
$
Refunding Bonds
$
5. Anticipated Deficit in Dedicated Assessment Budget
6. Total Debt Service
7. Total Deductions (Line 2 plus Line 6)
8. Excess in Revenues (Line 1 minus Line 7)
9. Deficit in Revenues (Line 7 minus Line 1)
10. Total Debt Service (Line 6)
11. Deficit (smaller of Line 9 or Line 10)
If Excess in Revenues (Line 8) all Utility Debt is Deductible
$
$
$
$
$
$
$
(a) Gross
None
System Debt
(b) Less: Deficit (Capitalized at 5%), (Line 9 or line 11)
$
(c) Deduction
times 20
(d) Plus: Cash held to Pay Bonds and Notes included in 2 (a) above
(e) Total Deduction (Deficit in revenues)
Total Allowable Deduction
$
$
$
$
$
$
OTHER BONDS, NOTES AND LOANS - Page 1
1 TERM BONDS (state purposes separately)
(1)
(2)
(3)
(4)
(5)
Total Term Bonds
2 SERIAL BONDS (state purposes separately)
$
$
$
$
$$
$
(a) Issued
(1)
$
(2)
$
(3)
(4)
$
(5)
$
(6)
$
(7)
$
(8)
$
(9)
$
(10)
$
(11)
$
(12)
$
(13)
$
(14)
$
(15)
$
(16)
$
(17)
$
(18)
$
(19)
$
(20)
$
(21)
$
(22)
$
(23)
$
(24)
$
(25)
$
(26)
$
(27)
$
(28)
$
(29)
$
(30)
$
(31)
$
(32)
$
(33)
$
(34)
$
(35)
Total Serial Bonds Issued
(b) Bonds Authorized but not Issued
(1)
(2)
(3)
(4)
(5)
Total Serial Bonds Authorized but not Issued
3 Total Serial Bonds Issued and Authorized but not Issued
-
$
$
$
$
$
$$
$
$
$
OTHER BONDS, NOTES AND LOANS - Page 2
4 BOND ANTICIPATION NOTES (state purposes separately)
(a) Issued
(1) Various Improvements
(2)
(3)
(4)
(5)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
(32)
(33)
(34)
(35)
(36)
(37)
(38)
(39)
(40)
(41)
(42)
(43)
(44)
(45)
(46)
Bond Anticipation Notes Issued
$
940,000.00
$
940,000.00
OTHER BONDS, NOTES AND LOANS - Page 3a
4 BOND ANTICIPATION NOTES (state purposes separately)
(b) Authorized but not issued
(1)
(3)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
(32)
(33)
(34)
(35)
(36)
(37)
(38)
(39)
(40)
(41)
(42)
(43)
(44)
(45)
OTHER BONDS, NOTES AND LOANS - Page 3b
4 BOND ANTICIPATION NOTES (state purposes separately)
(b) Authorized but not issued (Continued)
(46)
(47)
(48)
(49)
(50)
(51)
(52)
(53)
(54)
(55)
(56)
(57)
(58)
(59)
(60)
(61)
(62)
(63)
(64)
(65)
(66)
(67)
(68)
(69)
(70)
(71)
(72)
(73)
(74)
(75)
(76)
(77)
(78)
(79)
(80)
(81)
(82)
(83)
(84)
(85)
(86)
(87)
(88)
Bond Anticipation Notes Authorized but not Issued
5 Total Bond Anticipation Notes Issued and Authorized but not Issued
$
$
940,000.00
OTHER BONDS, NOTES AND LOANS - Page 4
6 MISCELLANEOUS BONDS, NOTES AND LOANS
(not including Tax Anticipation Notes, Emergency Notes, Special Emergency Notes and Utility Revenue Notes)
(a) Issued
(1) Capital Notes (N.J.S.A. 40A:2-8)
(2)
Bonds issued by another Public Body Guaranteed by the Municipality
(3) Green Trust Loans
(4)
(5)
Infrastructure Trust
Miscellaneous Bonds, Notes and Loans Issued
(b) Authorized but not issued
(1) Capital Notes (N.J.S.A. 40A:2-8)
(2)
Bonds issued by another Public Body Guaranteed by the Municipality
(3)
(4)
(5)
Miscellaneous Bonds and Notes Authorized but not Issued
Total Miscellaneous Bonds, Notes and Loans Issued and Authorized but not Issued
Total of all Miscellaneous Bonds, Notes and Loans Issued and Authorized but not Issued
$
$
$
$
940,000.00
DEDUCTIONS APPLICABLE TO OTHER BONDS AND NOTES
1. Amounts held or to be held for the sole purpose of paying general bonds and notes included
(a)
Sinking funds on hand for term bonds
(1)
$
$
(b)
Funds on hand (including proceeds of bonds and notes held to pay other
bonds and notes), in those cases where such funds cannot be diverted to
purposes other than the payment of bonds and notes
(1)
$
(2)
$
(3)
$
$
(c)
Estimated proceeds of bonds and notes authorized but not issued where
such proceeds will be used for the sole purpose of paying bonds and
notes
(1)
$
(2)
$
(3)
$
$
(d)
Accounts receivable from other public authorities applicable only to the
payment of any part of the gross debt not otherwise deductible
(1)
(2)
$
$
2. Bonds authorized by another Public Body to be guaranteed by the municipality
Bonds issued and bonds authorized by not issued to meet cash grants-in-aid for
3. housing authority, redevelopment agency or municipality acting as its local public
agency [N.J.S.A. 55:14B-4.1(d)]
4.
Bonds issued and bonds authorized but not issued - Capital projects for County
Colleges (N.J.S.A. 18A:64A-22.1 to 18A:64A-22.8)
5. Refunding Bonds (N.J.S.A 40A:2-52)
(1)
(2)
Total Deductions Applicable to Other Bonds and Notes
$
$
$
$
$
$
$
$
Bonds authorized/issued by another Public Body to be guaranteed by the municipality
(1)
$
(2)
(3)
(4)
(5)
(6)
(7)
$$
$
$
$
$
$
(8)
$
(9)
$
(10)
$
(11)
$
(12)
$
(13)
$
(14)
$
(15)
$
(16)
$
(17)
$$
$
(18)
$
(19)
$
(20)
$
(21)
$
(22)
$
(23)
$
(24)
$
(25)
$
(26)
$
(27)
$
(28)
$
(29)
$
(30)
$
(31)
$
(32)
$
(33)
$
(34)
$
(35)
$
(36)
$
(37)
$$
(38)
$
(39)
$
(40)
$
(41)
$
(42)
$
(43)
$
(44)
$
(45)
$
(46)
$
(47)
$
(48)
$
(49)
$
(50)
$
Total Bonds and Notes authorized/issued by another Public Body to be
guaranteed by the municipality
$
SPECIAL DEBT STATEMENT BORROWING POWER
AVAILABLE UNDER NJSA 40A:2-7(f)
1. Balance of debt incurring capacity December 31, 2011 (NJSA 40:1-16(d))
2. Obligations heretofore authorized during 2012 in
excess of debt limitation and pursuant to:
$
(a)
NJSA 40A:2-7, paragraph (d)
$
(b) NJSA 40A:2-7, paragraph (f)
$
(c)
NJSA 40A:2-7, paragraph (g)
Total
$
$
3. Less 2012 authorizations repealed during 2012
$
4. Net authorizations during 2012
$
5. Balance of debt incurring capacity December 31, 2012 (NJSA 40:1-16(d))
$
Obligations NOT Included in Gross Debt
1 Capital Leases and Other Comittments
(1)
(2)
(3)
(4)
$
$
$
$
(5)
(6)
(7)
(8)
(9)
$$$$
$
$
$
$
(10)
$
(11)
$
(12)
$
(13)
$
(14)
$
(15)
$
(16)
$
(17)
$
(18)
$
(19)
$
(20)
$
(21)
$
(22)
$
(23)
$
(24)
$
(25)
$
(26)
$
(27)
$
(28)
$
(29)
$
(30)
$
(31)
$
(32)
$
(33)
$
(34)
$
(35)
$
(36)
$
(37)
$
(38)
$
(39)
$
(40)
$
(41)
$
(42)
$
(43)
$
(44)
$
(45)
$
(46)
$
(47)
$
(48)
$
(49)
$
(50)
$
Total Leases and Other Comittments
$
Obligations NOT Included in Gross Debt
2 Guarantees NOT included in Gross Debt - Public and Private
(1)
$
(2)
$
(3)
$
(4)
$
(5)
$
(6)
$
(7)
$
(8)
$
(9)
$
-
(10)
$
(11)
$
(12)
$
(13)
$
(14)
(15)
$$
$
(16)
$
(17)
$
(18)
$
(19)
$
(20)
$
(21)
$
(22)
(23)
$$
(24)
$
(25)
$
(26)
$
(27)
$
(28)
$
(29)
$
(30)
$
(31)
$
(32)
$
(33)
$
(34)
$
(35)
$
(36)
$
(37)
$
(38)
$
(39)
$
(40)
$
(41)
$
(42)
$
(43)
$
(44)
$
(45)
$
(46)
$
(47)
$
(48)
$
(49)
$
(50)
$
Total Guarantees NOT included in Gross Debt - Public and Private
$