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City of Orono
<br />Refundinq Savings Analysis
<br />Public Offering Option - Estimate
<br />For Discussion Only
<br />rg"EHLERS
<br />Notes:
<br />Assumes G.O. Refunding Bonds issued at current estimates of public offering tax-exempt rates; Redemption of $1,425,000 plus $16,598 accrued interest to 6/1/2020
<br />Includes estimated costs for legal, advisory, credit rating and 1.2% underwriting allowance (subject to bid)
<br />2010A Cash Flow (Future Value) Savings: 44,715
<br />Direct Placement Option - Estimate
<br />PRIOR TO THE REFUNDING
<br />FOLLOWING THE REFUNDING
<br />Existing Debt Service (to be refunded)
<br />Estimated New Debt Service
<br />$1,425,000
<br />$1,500,000
<br />NET DEBT
<br />General Obligation Bonds, Series 2010A
<br />General Obligation Refunding Bonds, Series 2020A
<br />SERVICE
<br />Existing Balance after 2/1/2020 payment
<br />Dated: 6/1/2020
<br />SAVINGS
<br />Less:
<br />Less:
<br />CASHFLOW
<br />Bond
<br />Year
<br />Principal
<br />Rate Interest Fund
<br />Net Debt
<br />Principal
<br />Rate Interest
<br />Net Debt
<br />2/1
<br />8/1 & 2/1 Transfers
<br />Service
<br />2/1
<br />2/1 & 8/1 Rounding
<br />Service
<br />2021
<br />220,000
<br />3.000% 49,794
<br />269,794
<br />250,000
<br />1.20% 13,595 (2,122)
<br />261,473
<br />8,321
<br />2022
<br />225,000
<br />3.125% 43,194
<br />268,194
<br />245,000
<br />1.25% 17,393
<br />262,393
<br />5,801
<br />2023
<br />235,000
<br />3.500% 36,163
<br />271,163
<br />250,000
<br />1.30% 14,330
<br />264,330
<br />6,833
<br />2024
<br />240,000
<br />3.750% 27,938
<br />267,938
<br />250,000
<br />1.35% 11,080
<br />261,080
<br />6,858
<br />2025
<br />245,000
<br />3.750% 18,938
<br />263,938
<br />250,000
<br />1.45% 7,705
<br />257,705
<br />6,233
<br />2026
<br />260,000
<br />3.750% 9,750
<br />269,750
<br />255,000
<br />1.60% 4,080
<br />259,080
<br />10,670
<br />2027
<br />-
<br />-
<br />-
<br />Total
<br />1,425,000
<br />185,775
<br />1,610,775
<br />1,500,000
<br />68,183 (2,122)
<br />1,566,061
<br />44,715
<br />Notes:
<br />Assumes G.O. Refunding Bonds issued at current estimates of public offering tax-exempt rates; Redemption of $1,425,000 plus $16,598 accrued interest to 6/1/2020
<br />Includes estimated costs for legal, advisory, credit rating and 1.2% underwriting allowance (subject to bid)
<br />2010A Cash Flow (Future Value) Savings: 44,715
<br />Direct Placement Option - Estimate
<br />Notes:
<br />Assumes G.O. Refunding Bonds issued at current estimates of tax-exempt bank placement rates; Redemption of $1,425,000 plus $16,598 accrued interest to 6/1/2020
<br />Includes estimated costs for legal and advisory fees
<br />2010B Cash Flow (Future Value) Savings: 64,988
<br />Prepared by Ehlers 3/18/2020
<br />PRIOR TO THE REFUNDING
<br />FOLLOWING THE REFUNDING
<br />Existing Debt Service (to be refunded)
<br />Estimated New Debt Service
<br />$1,425,000
<br />$1,470,000
<br />NET DEBT
<br />General Obligation Bonds, Series 2010A
<br />General Obligation Refunding Bonds, Series 2020A
<br />SERVICE
<br />Existing Balance after 2/1/2020 payment
<br />Dated: 6/1/2020
<br />SAVINGS
<br />Less:
<br />Less:
<br />CASHFLOW
<br />Bond
<br />Year
<br />Principal
<br />Rate Interest Fund
<br />Net Debt
<br />Principal
<br />Rate Interest
<br />Net Debt
<br />2/1
<br />8/1 & 2/1 Transfers
<br />Service
<br />2/1
<br />2/1 & 8/1 Rounding
<br />Service
<br />2021
<br />220,000
<br />3.000% 49,794
<br />269,794
<br />242,000
<br />1.62% 15,876 (402)
<br />257,474
<br />12,320
<br />2022
<br />225,000
<br />3.125% 43,194
<br />268,194
<br />238,000
<br />1.62% 19,894
<br />257,894
<br />10,300
<br />2023
<br />235,000
<br />3.500% 36,163
<br />271,163
<br />242,000
<br />1.62% 16,038
<br />258,038
<br />13,125
<br />2024
<br />240,000
<br />3.750% 27,938
<br />267,938
<br />245,000
<br />1.62% 12,118
<br />257,118
<br />10,820
<br />2025
<br />245,000
<br />3.750% 18,938
<br />263,938
<br />249,000
<br />1.62% 8,149
<br />257,149
<br />6,789
<br />2026
<br />260,000
<br />3.750% 9,750
<br />269,750
<br />254,000
<br />1.62% 4,115
<br />258,115
<br />11,635
<br />2027
<br />-
<br />-
<br />-
<br />Total
<br />1,425,000
<br />185,775 -
<br />1,610,775
<br />1,470,000
<br />76,189 (402)
<br />1,545,787
<br />64,988
<br />Notes:
<br />Assumes G.O. Refunding Bonds issued at current estimates of tax-exempt bank placement rates; Redemption of $1,425,000 plus $16,598 accrued interest to 6/1/2020
<br />Includes estimated costs for legal and advisory fees
<br />2010B Cash Flow (Future Value) Savings: 64,988
<br />Prepared by Ehlers 3/18/2020
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