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Convention Center Debt Service Fund

The Convention Center Debt Service Fund provides for the payment of principal, interest, and other expenses

related to the issuance of approximately $200 million in Certificates of Participation for the construction of the

convention center facility in downtown Raleigh. $188.425 million of the Certificates of Participation were issued in

conjunction with a forward starting fixed rate swap. $55 million of Certificates of Participation were issued as

weekly reset variable rate debt.

Budget Detail

ACTUALS

ACTUALS

ADOPTED

ADOPTED

CHANGE

2013-14

2014-15

2015-16

2016-17

FY16 to FY17

DEBT SERVICE BY PURPOSE

Certificates of Participation

8,283,352

15,565,033

16,834,000

16,865,032

0.2%

Other Expenses

1,310,398

1,281,659

1,663,920

1,643,500

(1.2%)

TOTAL

$9,593,750

$16,846,692

$18,497,920

$18,508,532

0.1%

PRINICIPAL

INTEREST

TOTAL

FY2016-17 Convention Center Debt Service Requirements (Issued

Debt)

$8,040,000

$8,825,032

$16,865,032

J-9