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<br />7A <br />ATTACHMENT EPage 13 <br /> <br />SBWMA <br />Incremental Collection Rate Impact of Debt Service <br /> <br />MAXIMUM CASE <br />Debt Rate Impact <br /> <br />2009 BOND/NOTE FUNDING <br />Project Cost to Fund <br />Less: Cash from SBWMA Reserves <br />Net Project Cost to Finance <br />Plus: Issuance Costs and DSRF Reserve (1) <br />Plus 2009 Capitalized Interest <br />Plus Refund 2000 Bonds <br />Less Prior Bonds DSRFs <br />Bond/Note Issue Size - 2009 <br />2011 BOND FUNDING <br /> <br />$59,357,430 <br />(18,959,OOO) <br />$40,398,430 <br />5,951,570 <br />3,820,000 <br />14,990,000 <br />(1,690,000) <br />$63,470,000 <br /> <br />TOTAL BONDS BY 2011 <br /> <br />2,522,845 <br />(537,845) <br /> <br />$65,455,000 <br /> <br />Plus; 2011 Bond Issuance Costs and DSRF Reserve <br />tess Note DSRF <br /> <br />Total Annual Debt Service - 2011 <br />Less Current 2000 Bonds Debt Service <br />Incremental Debt Service - 2011 <br /> <br />$5,823,400 <br />(1.685.000) <br />$4,138,400 <br /> <br />Bond Term (yrs) <br />Interest Rate (taxable bonds) <br />Interest Rate (AMT tax-exempt bonds) <br /> <br />20 <br />7.75% <br />5.75% <br /> <br />Debt Service - Franchise Operations <br /> <br />85% <br /> <br />$3,517,640 <br /> <br />Current Collection Rate Revenue (2) <br /> <br />$67,903,724 <br /> <br />SBWMA Collection Rate Impact <br /> <br />5.18% <br /> <br />Annual Interest on Two Year Note <br />Interest Rate (tax-exempt note) <br /> <br />$537,845 <br />3.85% <br /> <br />(1) DSRF _ debt service reserve fund annual debt service held in reserve & applied to the final year of debt service. <br />(2) Projected collection revenue is 2.2% higher than the approved rate compensation for 2008. The estimated rate increase of <br />5.18% is a conservative estimate as it is based on applying debt service that is occurring In 2011. As collection revenue <br />increases from 2008 to 2011 and the debt service remains fixed, the % increase in rates will decrease since actual rate <br />impact will occur in 2011. <br />