What impact will these new bonds have on the Tuckahoe Creek Service District (TCSD) bond debt?

The new bond debt will have no impact on the TCSD bond debt. The TCSD bonds were issued to finance the infrastructure to be able to provide access to water and sewer utility services in the TCSD area. The bonds have two dedicated sources of revenue to pay the debt service: the $0.32 ad valorem tax on property in the district and 55% of the general increase in real estate revenues from commercial property in the district. Over the years, and with the benefit of two refinancings to take advantage of lower interest rates, those revenue streams have been sufficient to make the debt service payments on the TCSD bonds. Current financial analysis projects that they will continue to be sufficient to cover those debt service payments through the full repayment of the bonds which is anticipated to occur by 2032.

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1. Will voting YES on the ballot questions result in a tax rate increase?
2. Why don’t we pay cash for the projects instead of going into debt to pay for them?
3. What are the debt ratio policies? Why are they important? What is the maximum that could be issued while the County maintains its debt ratios?
4. Will these projects increase my taxes?
5. Why do we have to take on debt?
6. Can Goochland County afford the debt service payments on up to $96 million in General Obligation bond debt?
7. What impact will these new bonds have on the Tuckahoe Creek Service District (TCSD) bond debt?