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Assumptions -Issuance late calendar year 2010 with first debt service in FY 2011-12 <br />^ Bank Qualified Direct Placement Loan at a 4.75% rate for 15 years <br />^ Maximum Debt Service in FY 2011-12 would be $3.335 million declining to $2.318 million <br />in the final year (FY2025-26). <br />RECOMMENDATION(S): The Interim Manager recommends the Board discuss the matter <br />and conceptually determine the timing of the need for Elementary School #11. <br />