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2005 Water Reven ue Bonds <br /> R f n in <br /> eu d <br /> � <br /> Proposed Debt: <br /> ■ Competitive Public Offering - $30.5 million <br /> ■ $2 M Debt Service Reserve Fund — fully funded � "springing reserve" <br /> ■ Net Present Value Savings - $1.76 million or 6.75% of new debt <br /> ■ Esti m ated I nte rest Rate = 3.42% <br /> ■ Average Annual Savings = $127,500 <br /> ■ Reviewed by Council Finance and Utilities Committees <br />