Cook County Fiscal Strength Presentation
Debt Profile
The County has undertaken a long-term plan to manage its debt service
The County has $2.6 billion of General Obligation Bonds and $571 million of Sales Tax Revenue Bonds outstanding
■
"
11.4% of outstanding debt is floating rate with expiration of credit facilities in 2022 and 2024 and no interest rate swap exposure
The County maintains a $175 million taxable line of credit for interim financing needs and an additional $100 million tax-exempt
revolver for liquidity and emergency purposes, none of which is currently outstanding
County policy limits annual debt service growth to no more than 2% until a $400 million threshold is reached
County Debt Composition ($mm)
Revolving Line of Credit
$0.0
0.0%
Sales Tax Fixed Rate
$571.0
18.0%
GO Variable Rate
$mm
400
300
200
100
$360.6
11.4%
Variable Rate Debt Credit Facility Overview ($mm)1
$450
$400
$350
GO Fixed Rate
$2,235.8
70.6%
Series 2012A
Direct Purchase
$300
Millions
$250
$200
Tax-Exempt
Revolver
$150
Series 2014C
Direct Purchase*
$100
$50
$-
Taxable
Line of Credit
Series 2004D
Direct Pay Letter of Credit
Series 2012B
Direct Purchase
FY2022
FY2023
FY2024
General Obligation Debt Service Pre-Refunding (FYE 11/30)1,2
■Principal
Interest
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
As of November 5, 2021.
1.
2.
Authorized amount of Series 2014D Revolving Line of Credit is $175 million, none of which is outstanding as of October 20, 2021; authorized amount of Revolving Credit Agreement
("Tax-Exempt Revolver") with BMO Harris Bank is $100 million, none of which is outstanding.
Interest rate on variable rate bonds assumed to be 5% for the Series 2004D Bonds and the Series 2012B Bonds bearing interest at taxable rates and 4.5% for the Series 2012A Bonds
bearing interest at tax-exempt rates. No effect given to payments from the federal government in connection with "Build America Bonds".
OF
COOK
SILLINDE
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