MLPA Debt Coverage Ratio

1999 - 2008
2008 MLPA-1 2008 MLPA-2 2008 WRM 2007 MLPA 2007 WRM 2006 MLPA 2006 WRM 2005 MLPA 2005 WRM 2004 2003 2002 2001 2000 1999
Net Income 474,613 474,613 474,613 159,329 159,329 40,258 40,258 (27,202) (27,202) 168,403 295,744 289,255 267,504 333,038 192,685
Interest Expense 189,464 189,464 189,464 200,957 200,957 210,501 210,501 218,300 218,300 215,826 211,664 350,968 246,232 262,136 276,257

Depreciation & Amortization 453,419 453,419 453,419 432,255 432,255 426,521 426,521 412,841 412,841 349,896 346,831 229,417 353,154 311,380 347,256
Interest Income (24,700)
Gain on Sale of Assets (259,717)
Loss on Land 69,601

Net Revenue >> 1,117,496 833,079 1,117,496 792,541 792,541 677,280 677,280 603,939 673,540 734,125 854,239 869,640 866,890 906,554 816,198

Principal LT Debt - Bonds 510,000 510,000 510,000 500,000 500,000 495,000 495,000 485,000 485,000 462,500 440,000 416,906 402,003 382,100 340,000
Interest On LT Debt - Bonds 162,070 162,070 162,070 171,320 171,320 178,498 178,498 188,198 188,198 194,798 217,713 238,027 254,535 269,837 318,810
Principal LT Debt - MTL Loan 29,586 29,586 29,586 28,371 27,206 26,089

Interest On LT Debt - MTL Loan 30,126 30,126 30,126 31,341 32,506 29,480
Debt Service Requirement >> 731,782 731,782 731,782 671,320 731,032 673,498 733,210 673,198 728,767 657,298 657,713 654,933 656,538 651,937 658,810

WRM Debt Coverage Ratio >> 152.71% 108.41% 92.37% 92.42% 111.69% 129.88% 132.78% 132.04% 139.06% 123.89%

MLPA Reported Debt Coverage Ratio >> 152.71% 113.84% 118.00% 101.00% 111.00% 130.00% 132.00%

Includes MTL
Includes MTL Includes MTL Includes MTL
Debt Service & MLPA Excluded MLPA Excluded Not Reported by
Debt Service & Debt Service & Includes MTL Includes MTL Debt Service &
Comments Regarding Variance >> Excludes Non- MTL Debt MTL Debt MLPA for FY
Non-Operating Non-Operating Debt Service Debt Service Non-Operating
Operating Service Service 2005
Revenue Revenue Revenue
Revenue

07/01/03 Bond Issue

Indenture of Trust
Section 7.04 Rate Covenant

The Authority covenants that it will charge, maintain and collect, so long as any Bonds remain outstanding and funds for their payment have not been provided, rates, fees and charges which, in each Fiscal Year, shall provide the Authority with Net Revenues in an
amount at least equal to 110 percent of Debt Service Requirements (assuming for purposes of determining the Debt Service Requirements for such years that the Bonds will be outstanding during such years) during such Fiscal Year and to make any other deposits to
funds or accounts required under this Indenture.

07/01/03 Bond Issue

Indenture of Trust
Certain Definitions

"Debt Service Requirements" shall mean, in respect of any Fiscal Year of the Authority, the sum of the amounts required to be paid in such Fiscal Year by the Authority to the trustee in respect of the interest on and the principal of the 2003 Bonds under consideration
and other outstanding long-term indebtedness for borrowed moneys and the amounts requited to be deposited in such Fiscal Year to the credit of any sinking, purchase, redemption or analogous fund established for such Bonds, provided that the Debt Service
Requirements in respect of any Fiscal Year for the 2003 Bonds to the extent that there shall have been established ...