Answered step by step
Verified Expert Solution
Question
1 Approved Answer
6. The Territory has approximately 67.5 million long-term bond debt (page 35). If the Census population of the USVI is 87, 146, what is the
6. The Territory has approximately 67.5 million long-term bond debt (page 35). If the Census population of the USVI is 87, 146, what is the per capita debt? Compare the per capita debt of the USVI with the other insular US Territories--- Guam, Puerto Rico, American Samoa, and the Commonwealth of the Northern Marianas (CNM).[google both the debt and the population of these places). List the results for all five territories and note the position of the USVI. Note in the case of Puerto Rico, debt was restructured successfully use the lower January 2023 debt figure, not figures from earlier. Of the five insular territories, which has the most diversified economic base and the greatest likelihood of growing robustly and servicing its debt with minimal stress provoked major external stocks can be avoided?is WRON ISLANDS SCHEDULE OF LONG-TERM DEBT The Virgin Islands Public Finance Authority, on behalf of the Government of the United States Virgin Islands, through authorization from the Legislature of the United States Virgin Islands, has secured funding for the following working capital and long-term projects. Outlined below is a brief description of each bond issuance reflected in the Schedule of Principal and Interest due on Long Term Debt for Fiscal Year 2023. GOVERNMENT OF THE UNITED STATES VIRGIN ISLANDS SCHEDULE OF PRINCIPAL AND INTEREST DUE ON LONG-TERM DEBT FY2023 FISCAL YEAR 2023 ISSUE AND SOURCE OF PAYMENT OUTSTANDING AS OF 4/30/2022 PRINCIPAL INTEREST TOTAL GENERAL FUND (GROSS RECEIPTS TAXES) 2036 SERIES A GROSS RECEIPTS BONDS 153,970,060 16,895,000 7.112,813 24,007 813 2012A SERIES WORKING CAPITAL LOAN NOTE 118,600,060 S,887.100 7,317,100 20128 SERIES BROADBAND 15.735,000 2,290,000 765,975 3,055,975 2012C SERIES GROSS RECEIPTS BONDS (Capital Projects) 21.215,000 1,955,000 1,011,875 2,966,875 2014A SERIES (Working Capital) 37.$35,000 2,100,DO0 1,824,250 3,924,250 2014C SERIES (Capital Projects & Refunding) 208.510,000 5,705,000 10,193,900 16,903,900 20140 SERIES (Broadband] 4,355,000 255,000 254,876 509,876 2009, 2011, 2012, 2019 SERIES . (Island Crossing Tak Increme 9,795.416 565,620 $49,325 1,214,945 TOTAL GENERAL FUND $69,715,416 32,195,620 27,705,114 59,900,734 FEDERAL HIGHWAY GRANT ANTICIPATION REVENUE IGARVELI 2015 SERIES GARVEE BONDS $7.125,000.00 4.430,DO0 145.250 7,575,250 TOTAL FEDERAL HIGHWAY GRANT 67,125,000.00 4,430,000 3,145,250 7.575,250 GRAND TOTALS - OUTSTAND EREST 636,840,416 36,625,620 30,850,364 67,475,984 GENERAL OBLIGATION DEBT (GROSS RECEIPT TAXES) Proceeds from the Series 2006A Gross Receipts Taxes - Revenue Bonds were used to refund a . portion of the Authority Revenue Bonds, Series 1999A Bonds, pay the cost of a termination fee in connection with an outstanding swap option agreement, fund certain necessary public sector capital development projects of the Government of the Virgin Islands, fund the Debt Service Reserve Account in an amount necessary to meet the Debt Services Reserve Requirement, pay the premium in connection with the Series 2006 Bond Insurance Policy, fund a net payments reserve account for a new swap agreement and pay the costs of issuing the Series 2006 Bond. The repayment of this bond series is funded by the General Fund from Gross Receipts Taxes. The bonds were issued in October 2006 at a value of $219,490,000. April 1, 2022, outstanding principal balance was $153,970,000. 35
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started