|
7
<br /> Orange County,NC
<br /> Summary of Potential Refunding Opportunities
<br /> Preliminary-Rates as of 8/28/2019
<br /> Tax Status Tax-Exempt Tax-Exempt Tax-Exempt Tax-Exempt Tax-Exempt
<br /> Refunding Type Current Refunding Current Refunding Current Refunding Current Refunding Current Refunding
<br /> 1 Summary of Bonds Refunded:
<br /> 1 Maturities 2/1/2021-2/1/2022 5/1/2020-5/1/2022 6/1/2020-6/1/2028 5/1/2020-5/1/2031 5/1/2020-5/1/2023
<br /> 2 Refunded Bonds $4,790,000.00 $1,225,886.50 $4,304,000.00 $4,696,000.00 $1,344,000.00
<br /> 3 Refunded Bonds Call Date 11/5/2019 11/5/2019 11/5/2019 11/5/2019 11/5/2019
<br /> 4 Average Coupon of Refunded Bonds 3.4910/ 2.4551/. 2.1300/ 2.5509/ 2.3000/,
<br /> 5
<br /> 6
<br /> 7 Par Amount $4,575,000.00 $915,000.00 $3,260,000.00 $3,515,000.00 $940,000.00
<br /> 8 Premium 230,318.70 218,873.65 573,778.85 772,079.25 72,774.40
<br /> 9 Equity Contribution 87,075.00 102,611.08 548,675.20 451,874.00 339,456.00
<br /> 10 Total Sources $4,892,393.70 $1,236,484.73 $4,382,454.05 $4,738,953.25 $1,352,230.40
<br /> 11
<br /> 12
<br /> 13 Refunding Escrow Deposits $4,835,472.50 $1,226,220.89 $4,343,216.61 $4,697,330.53 $1,344,343.47
<br /> 14 Cost of Issuance 34,010.66 6,802.13 24,234.92 26,130.59 6,987.98
<br /> 15 Underwriter's Discount 20,632.56 4,126.51 14,702.11 15,852.12 4,239.26
<br /> 16 Additional Proceeds 2,277.98 -664.80 300.41 -359.99 -3,340.31
<br /> 17 Total Uses $4,892,393.70 $1,236,484.73 $4,382,454.05 $4,738,953.25 $1,352,230.40
<br /> 18
<br /> 19 Bond Statistics:
<br /> 20 All-In True Interest Cost 1.913% 1.647% 1.3430A 1.442% 1.5930/.
<br /> 21 True Interest Cost 1.342% 1.553% 1.195% 1.331% 1.228%
<br /> 22 Arbitrage Yield 1.478% 1.478% 1.478% 1.478% 1.478%
<br /> 23 Average Life(Years) 1.273 7.332 4.680 6.194 1.969
<br /> 24
<br /> 25 Refunding Statistics:
<br /> 26 Escrow Yield 1.4360/ 1.436% 1.4360A 1.436% 1.4360/.
<br /> 27 Negative Arbitrage - - - - -
<br /> 28 Gross Savings $150,354.17 $83,541.19 $197,810.34 $358,554.61 $34,726.89
<br /> 29 NPV Savings($) $126,252.72 $65,729.18 $146,212.46 $291,681.37 $19,590.01
<br /> 30 NPV Savings(%of Refunded Par) 2.6360/ 5.362% 3.3970A 6.211% 1.4580/.
<br /> 31
<br /> 32 FY Cash Flow Savings:
<br /> 33 6/1/2021 75,004.17 $7,329.99 $22,335.54 $30,475.61 $16,398.89
<br /> 34 6/1/2022 75,350.00 6,484.48 25,475.50 35,006.00 10,824.00
<br /> 35 6/1/2023 - 7,584.80 24,653.40 30,260.00 7,504.00
<br /> 36 6/1/2024 - 8,685.12 25,474.80 34,764.00 -
<br /> 37 6/1/2025 4,910.44 26,918.40 30,543.50
<br /> 38 6/1/2026 6,260.76 23,109.20 31,698.00
<br /> 39 6/1/2027 7,611.08 26,068.50 33,102.50
<br /> 40 6/1/2028 - 4,086.40 23,775.00 34,757.00 -
<br /> 41 6/1/2029 7,287.04 - 31,786.50
<br /> 42 6/1/2030 4,012.36 34,191.00
<br /> 43 6/1/2031 5,862.68 31,970.50
<br /> 44 6/1/2032 - 7,713.02 - - -
<br /> 45 6/1/2033 - 5,713.02 - -
<br /> 46 Total Cash Flow Savings: $ 150,354.17 $ 83,541.19 $ 197,810.34 $ 358,554.61 $ 34,726.89
<br /> Prepared by Davenport&Company LLC 9/5/2019
<br />
|