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Summary of Results - = <br /> ORANGE COUNTY <br /> 2017 CIP Alternative *1 with Structured Principal NORTH CAROLINA <br /> Existing Debt Only 2017-2022 CIP <br /> Assumptions Short-Term Medium-Term Long-Term Total <br /> 1 Interest Rate N/A 2.25%-3.00% 3.25% 4.00%-4.50% 2.25%-4.50% <br /> 2 Term N/A 5 Years 15 Years 20 Years 5/15/20 Years <br /> 3 Amortization N/A Level Debt Service Level Principal Structured Principal* LDS/Structured Principal* <br /> 4 <br /> 5 Debt Issued <br /> 6 FY 2017 N/A $ 1,666,000 $ 8,334,000 $ - $ 10,000,000 <br /> 7 FY 2018 N/A 500,000 - 67,826,936 68,326,936 <br /> 8 FY 2019 N/A 500,000 31,726,728 32,226,728 <br /> 9 FY 2020 N/A 500,000 65,770,311 66,270,311 <br /> 10 FY 2021 N/A 500,000 22,466,868 22,966,868 <br /> 11 FY 2022 N/A 500,000 - 66,835,304 67,335,304 <br /> 12 Total Debt Issued N/A $ 4,166,000 $ 8,334,000 $ 254,626,147 $ 267,126,147 <br /> 13 <br /> 14 Total New Debt Service N/A $ 391,776,345 $ 391,134,694 <br /> 15 <br /> 16 Debt Ratios Policy <br /> 17 10 Year Payout(Worst Shown) N/A 89.7% 61.9% 62.2% <br /> 18 Debt to Assessed Value(Worst Shown) 3.00% 1.0% 1.8% 1.8% <br /> 19 Debt Service to GF Revenues(2017-2025) 15.00% Uo Front Adjustment Incremental Adjustment <br /> 20 FY 2017 12.9% 12.9% 12.9% <br /> 21 FY 2018 12.2% 12.8% 12.8% <br /> 22 FY 2019 11.4% 14.2% 14.5% <br /> 23 FY 2020 10.5% 14.4% 14.6% <br /> 24 FY 2021 9.9% 14.9% 15.0% <br /> 25 FY 2022 9.3% 14.9% 15.0% <br /> 26 FY 2023 7.2% 15.0% 15.0% <br /> 27 FY 2024 5.4% 15.0% 14.9% <br /> 28 FY 2025 4.0% 13.3% 13.1% <br /> 29 <br /> 30 Tax Equivalent Impact <br /> 31 FY 2017 - - - <br /> 32 FY 2018 - - <br /> 33 FY 2019 5.524 2.844 <br /> 34 FY 2020 - 0.854 <br /> 35 FY 2021 2.754 <br /> 36 FY 2022 0.504 <br /> 37 FY 2023 0.504 <br /> 38 FY 2024 - <br /> 39 Total 0.001 5.521 7.444 <br /> 40 <br /> 41 Additional Existing Revenues/Reserves Required N/A N/A N/A <br /> Note:2/3 Bonds are assumed to be issued in FY 2018 to fund projects in FY 2018 and FY 2019. <br /> *Subject to review and discussion with LGC Staff <br /> DAVENPORT&COMPANY <br /> May 9,2017 Orange County, NC 24 <br />