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Shoreway Recycling and <br />Disposal Center <br />Incremental Collection Rate Impact of Det Service <br />Assume Using $19 Million from Reserves and Taxable Bonds <br />MAXIMUM CASE <br />Debt Rate Impact <br />2009 Funding <br />Project Cost to Fund$ 59,357,430 <br />Less: Cash from SBWMA Reserves$ (18,959,000) <br />Net Project Cost to Finance$ 40,398,430 <br />Plus: Issuance Costs and DSRF Reserves$ 5,951,570 <br />Plus: 2009 Capitalized Interest$ 3,820,000 <br />Plus: Refund 2000 Bonds$ 14,990,000 <br />DSRF-debt service <br />Less: Prior Bonds DSRFs$ (1,690,000) <br />reserve fund <br />Issue Size --2009$ 63,470,000 <br />annual debt <br />2011 Bond Funding <br />service held in <br />Plus: 2011 Bond Issuance Costs and DSRF$ 2,522,845 <br />reserve and <br />Less: 2009 Note DSRF$ (537,845) <br />applied to the <br />TOTAL BONDS OUTSTANDING 2011$ 65,455,000 <br />final year of debt <br />service <br />Total Annual Debt Service -2011$ 5,823,400 <br />1 <br />Projected collection <br />Less: Current 2000 Bonds Debt Service$ (1,685,000) <br />revenue 2.2% <br />Incremental Debt Service -2011$ 4,138,400 <br />higher than rate <br />base revenue. <br />Bond Term (years) 20 <br />Interest Rate (taxable bonds) 7.75% <br />Interest Rate (AMT tax-exempt bonds) 5.75% <br />Debt Service -Franchise Operations 85%$ 3,517,640 <br />Current (2008) Collection Rate Revenue 1$ 67,903,724 <br />SBWMA Collection Rate Impact5.18% <br />Annual Interest on Two Year Note$ 537,845 <br />31 <br />Interest Rate (tax-exempt bonds)3.85% <br />