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SUMMARY <br />• EPA Allows a One -Time Interest Rate Reset <br />— Borrower must demonstrate savings if refinanced elsewhere <br />— Borrower must be within spending limits and in compliance with <br />all terms <br />• EPA requires a Resolution to amend original financing agreement <br />Redwood <br />6 of 8 city <br />■ <br />Net Present <br />Debt <br />Nominal <br />Value Savings <br />Service <br />Savings over <br />over <br />Annual <br />Amortization <br />Amortization <br />Member <br />JPA % <br />W1FIA % <br />Savings <br />Period <br />Period <br />Redwood City <br />48.57% <br />51.70% <br />$1,013,730 <br />$31,425,643 <br />$23,530,522 <br />West Bay Sanitary District <br />26.84% <br />28.60% <br />$560,810 <br />$17,385,110 <br />$13,017,418 <br />City of San Carlos <br />15.14% <br />16.10% <br />$315,709 <br />$9,786,966 <br />$7,328,169 <br />City of Belmont <br />9.45% <br />3.60% <br />$70,562 <br />$2,187,429 <br />$1,6371877 <br />TOTAL <br />100.00% <br />100.00% <br />$1,560,811 <br />$60,785,148 <br />$45,513,986 <br />Redwood <br />6 of 8 city <br />■ <br />