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34 Table 2 DSRSD, Pleasanton and Livermore Sewer Systems Summary of Historical Debt Service Coverage by Member Fiscal Year Ended June 30 (1) Audited 2016 Audited 2017 Audited 2018 Audited 2019 Audited 2020 Livermore Livermore’s Member Net Revenue (2) $6,195,933 $6,668,053 $8,265,982 $8,647,601 $9,143,984 Livermore’s Share of LAVWMA Debt Service 2,226,815 2,227,440 2,228,136 2,228,251 2,227,893 LAVWMA Debt Service Coverage 2.78x 2.99x 3.71x 3.88x 4.10x DSRSD/Pleasanton Rate Covenant Debt Service Coverage DSRSD/Pleasanton Member Net Revenues (3) 10,972,710 7,212,417 10,137,703 10,261,212 8,896,307 Rate Covenant Debt Service (4) 1,463,612 1,464,026 1,464,483 1,464,003 1,464,323 Debt Service Coverage 7.50x 4.93x 6.92x 7.01x 6.08x Comparison of Regional Capacity Reserve Fees and Expansion Project Debt Service Regional Capacity Reserve Fees 16,993,576 8,426,166 13,279,254 10,722,405 4,795,579 Expansion Project Debt Service 5,774,909 5,776,535 5,778,339 5,776,445 5,777,708 (1) Terms in line items are defined in the Sewer Service Contract. See “SECURITY FOR THE 2021 BONDS – Sewer Service Contract”. (2) See Table 23. Reflects Net Revenues remaining after payment of debt service on Livermore’s Obligations. See “CITY OF LIVERMORE – Outstanding Long-Term Obligations.” (3) See Table 11. DSRSD’s Member Net Revenues do not include Regional Capacity Reserve Fee revenues, which are deposited in the Rate Stabilization Fund held by DSRSD. However, the amount of Rate Covenant Debt Service shown in this table reflects a deduction as a result of the application of Regional Capacity Reserve Fee revenues transferred from the Rate Stabilization Fund to pay Expansion Project Debt Service. See “SECURITY FOR THE 2021 BONDS – Rate Stabilization Fund.” (4) See Table 11. Source: Livermore-Amador Water Management Agency.
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