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<br /> Assuming private placement of$1,500,000 the estimated payment schedule (per Finance
<br /> Director) will be:
<br /> Assumptions: 15 year term (this is also the term of the CAP agreement with Federal Marshal)
<br /> 6.75% interest rate
<br /> $1,500,000 principal amount
<br /> Semi-annual payments
<br /> YEAR PRINCIPAL PAYMENT PRINCIPAL INTEREST Number of
<br /> BALANCE (JaiUCths.only) PAID(JaiUCths. (JaiUCths.only) Federal
<br /> (JaiUCths.only) only) inmates
<br /> needed daily
<br /> to totally
<br /> offset debt
<br /> service cost**
<br /> 1 $1,500,000.00 $201,250.00 $100,000.00 $101,250.00 11
<br /> 2 I $1,400,000.00 $194,500.00 $100,000.00 $94,500.00 11
<br /> 3 I $1,300,000.00 $187,750.00 $100,000.00 $87,750.00 10
<br /> 4 $1,200,000.00 $181,000.00 $100,000.00 $81,000.00 10
<br /> 5 $1,100,000.00 $174,250.00 $100,000.00 $74,250.00 10
<br /> 6 I $1,000,000.00 $167,500.00 $100,000.00 $67,500.00 9
<br /> 7 I $900,000.00 $160,750.00 $100,000.00 $60,750.00 9
<br /> 8 $800,000.00 $154,000.00 $100,000.00 $54,000.00 8
<br /> 9 $700,000.00 $147,250.00 $100,000.00 $47,250.00 8
<br /> 10 I $600,000.00 $140,500.00 $100,000.00 $40,500.00 8
<br /> 11 I $500,000.00 $133,750.00 $100,000.00 $33,750.00 7
<br /> 12 $400,000.00 $127,000.00 $100,000.00 $27,000.00 7
<br /> 13 $300,000.00 $120,250.00 $100,000.00 $20,250.00 7
<br /> 14 I $200,000.00 $113,500.00 $100,000.00 $13,500.00 6
<br /> 15 I $100,000.00 $106,750.00 $100,000.00 $6,750.00 6
<br /> Totals $2,310,000.00 $1,500,000.00 $810,000.00
<br /> **NOTE: Number of inmates needed to totally offset debt service is based on current per
<br /> diem of$49.96. This amount is reviewed and adjusted upward at least annually.
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