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<br />Table 6
<br />Redwood City Water Financing Plan
<br />Debt Service Estimates
<br /> 2005 2006 2007 2008 2009
<br /> Bonds Bonds Bonds Bonds Bonds Total
<br />Anticipated Issuance Date Feb-05 Feb-06 Feb-07 Feb-08 Feb-09
<br />Annual Project Funding Requirement $32,621,500 $16,477,000 $17,000,000 $6,270,000 $12,774,500 $85,143,000
<br />Bond Issue Size $35,790,000 $26,000,000 $11,140,000 $7,125,000 $14,280,000 $94,335,000
<br />Proceeds for Project 32,807,500 23,554,000 9,924,000 6,274,000 12,779,000 85,338,500
<br />Issuance Costs*
<br />Underwriter's Discount (0.75%) 479,200 195,000 84,000 53,000 107,000 918,200
<br />Costs of Issuance 204,100 200,000 200,000 200,000 200,000 1,004,100
<br />Bond Insurance (0.70%) 134,400 355,000 161,000 103,000 206,000 959,400
<br />Reserve Fund 2,164,400 1,691,000 766,000 490,000 983,000 6,094,400
<br />M isdconti ng ency Ira undi ng 400 5.000 5.000 5.000 5.000 20.400
<br />Total 2,982,500 2,446,000 1,216,000 851,000 1,501,000 8,996,500
<br />Bond Terms*
<br />Term (years) 30 30 30 30. 30
<br />Est. Average Interest Rate 4.30% 5.00% 5.50% 5.50% 5.50%
<br />Debt Service
<br />Gross Annual Payment 2,146,000 1,691,000 766,000 490,000 983,000 6,076,000
<br />Less Interest on Rsrv Fund (at bond rate) (93,000) (85.000) (42.000) (27.000) (54.000) (301.000)
<br />Net Annual Payment 2,053,000 1,606,000 724,000 463,000 929,000 5,775,000
<br />Total Payments Over Life of Bonds 64,380,000 50,730,000 22,980,000 14,700,000 29,490,000 182,280,000
<br />Total Net Payments Over Life of Bonds 59,425,600 46,489,000 20,954,000 13,400,000 26,887,000 167,155,600
<br />* Estimated for planning purposes; assumes availability of bond insurance and a cash-funded reserve fund.
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<br />BARTLE WELLS ASSOCIA TES
<br />F:\JobsIRedwood Cityl19211 IRedwood City Tables 1-13-06IFinancing,1/13/2006,3:17 PM
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