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Attachment 4 ^
<br /> Summary of Results - 2017 CIP Alternative *2 ORANGE COUNTY
<br /> NORTH CAROLINA
<br /> Level Principal Amortization
<br /> Existing Debt Only 2017-2022 CIP
<br /> Assumptions Short-Term Medium-Term Long-Term Total
<br /> 1 Interest Rate N/A 2.83%-3.00% n/a 2.83%-4.50% 2.83%-4.50%
<br /> 2 Term N/A 5-7 Years n/a 20 Years 5/7/20 Years
<br /> 3 Amortization N/A Level Debt Service n/a Level Principal LDS/Level Principal
<br /> 4
<br /> 5 Debt Issued
<br /> 6 FY 2017 N/A $ 1,180,000 $ $ 8,132,000 $ 9,312,000
<br /> 7 FY 2018 N/A 500,000 68,514,936 69,014,936
<br /> 8 FY 2019 N/A 500,000 27,976,728 28,476,728
<br /> 9 FY 2020 N/A 500,000 61,220,311 61,720,311
<br /> 10 FY 2021 N/A 500,000 10,866,868 11,366,868
<br /> 11 FY 2022 N/A 500,000 54,435,304 54,935,304
<br /> 12 Total Debt Issued N/A $ 3,680,000 $ $ 231,146,147 $ 234,826,147
<br /> 13
<br /> 14 Total New Debt Service N/A $ 4,045,453 $ $337,720,934 $ 341,766,387
<br /> 15
<br /> 16 Debt Ratios Policy
<br /> 17 10 Year Payout(Worst Shown) N/A 89.7% 64.8% 64.8% 64.8%
<br /> 18 Debt to Assessed Value(Worst Shown) 3.00% 1.0% 1.6% 1.6% 1.6%
<br /> 19 Debt Service to GF Revenues(2017-2025) 15.00% No Adjustment Up Front Adjustment Incremental Adjustment
<br /> 20 FY 2017 12.9% 12.9% 12.9% 12.9%
<br /> 21 FY 2018 12.2% 12.6% 12.6% 12.6%
<br /> 22 FY 2019 11.4% 14.7% 14.1% 14.4%
<br /> 23 FY 2020 10.5% 15.0% 14.4% 14.6%
<br /> 24 FY 2021 9.9% 16.8% 16.1% 16.0%
<br /> 25 FY 2022 9.3% 16.5% 15.8% 15.7%
<br /> 26 FY 2023 7.2% 16.3% 15.7% 15.5%
<br /> 27 FY 2024 5.4% 14.1% 13.6% 13.5%
<br /> 28 FY 2025 4.0% 12.2% 11.7% 11.6%
<br /> 29
<br /> 30 Tax Equivalent Impact
<br /> 31 FY 2017 - - - -
<br /> 32 FY 2018 - -
<br /> 33 FY 2019 4.56 2.18
<br /> 34 FY 2020 - 1.03
<br /> 35 FY 2021 2.54
<br /> 36 FY 2022 -
<br /> 37 FY 2023 0.020
<br /> 38 FY 2024 - - - -
<br /> 39 Total 0.006 0.006 4.566 5.766
<br /> 40
<br /> 41 Additional Existing Revenues/ Reserves Required N/A $53,120,815 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 /> DAVENPORT&COMPANY
<br /> June 13,2017 Orange County, NC 19
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