Parks Formula - Parks Debt

Fixed per Loan Document - Follows 2011 Parks Formula.

Components of this formula include the assessed value of real estate, earned income wages, and population net of students. Each component of this formula carries a 1/3 weighting. 5 of the 6 municipalities participate. This amount was fixed at the 2011 rate for the first 10 years of the loan and will reset in 2022 for the last 10 years of the loan according to the approved loan documents.