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Proposed Refunding Complies with State Law
<br />Based on the 2018 TABS proposed structure and the projected debt service savings according to numbers
<br />prepared by the Underwriter, Urban Futures, Inc. concludes that the 2018 TABS comply with the Savings
<br />Parameters as described below.
<br />SA -3-145
<br />Debt Service
<br />Savings
<br />Less: Prior Funds on Hand
<br />(12,510,261)
<br />Plus: Refunding Funds on Hand
<br />Bond I
<br />Existing
<br />I Est. New
<br />Net PV Savings
<br />Year (9/1)1
<br />Payments
<br />I Payments I
<br />Savings
<br />I
<br />2019
<br />11,095,255
<br />1,828,961
<br />2020
<br />10,730,738
<br />_9,266,294
<br />8,754,764
<br />1,975,974
<br />2021
<br />11,045,942
<br />9,067,701
<br />1,978,241
<br />2022
<br />11,385,458
<br />9,411,620
<br />1,973,838
<br />2023
<br />11,715,337
<br />9,738,345
<br />1,976,992
<br />2024
<br />12,057,350
<br />10,081,353
<br />1,975,997
<br />2025
<br />12,401,425
<br />10,424,756
<br />1,976, 669
<br />2026
<br />13,370,650
<br />11,397,110
<br />1,973,540
<br />2027
<br />5,875,525
<br />3,898,240
<br />1,977,285
<br />2028
<br />5,255,013
<br />3,279,844
<br />1,975,169
<br />2029
<br />1,300,875
<br />1,198,000
<br />102,875
<br />2030
<br />1,299, 575
<br />1,196, 250
<br />103,325
<br />2031
<br />1,301,025
<br />1 1,197,000
<br />104,025
<br />Totals
<br />108,834,168
<br />88,911,277
<br />19,922,891
<br />Proposed Refunding Complies with State Law
<br />Based on the 2018 TABS proposed structure and the projected debt service savings according to numbers
<br />prepared by the Underwriter, Urban Futures, Inc. concludes that the 2018 TABS comply with the Savings
<br />Parameters as described below.
<br />SA -3-145
<br />PV of Savings from cash flow
<br />16,559,567
<br />Less: Prior Funds on Hand
<br />(12,510,261)
<br />Plus: Refunding Funds on Hand
<br />3,661
<br />Net PV Savings
<br />4,052,967
<br />Proposed Refunding Complies with State Law
<br />Based on the 2018 TABS proposed structure and the projected debt service savings according to numbers
<br />prepared by the Underwriter, Urban Futures, Inc. concludes that the 2018 TABS comply with the Savings
<br />Parameters as described below.
<br />SA -3-145
<br />
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