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Bond Sale Report
<br />
<br />STRUCTURE AND REPAYMENT
<br />
<br />The Bonds are general obligations of the City and as such are secured by a pledge of the City's
<br />full faith, credit, and taxing powers. It is the intent of the City to pay the entire amount of
<br />principal and interest from net revenues of the municipal water system.
<br />
<br />The preliminary projection of debt service and revenues for the Bonds appears in the table below.
<br />
<br /> Date
<br />2/1/2002
<br />2/1/2003
<br />2/1/2004
<br />2/1/2005
<br />2/1/2006
<br />2/1/2007
<br />2/1/2008
<br />2/1/2009
<br />2/1/2010
<br />2/1/2011
<br />2/1/2012
<br />2/1/2013
<br />2/1/2014
<br />2/1/2015
<br />2/1/2016
<br />2/1/2017
<br />2/1/2018
<br />2/1/2019
<br />2/1/2020
<br />2/1/2021
<br />2/1/2022
<br />TOTAL
<br />
<br />Principal Rate Interest P&l
<br />
<br />60,000
<br />120,000
<br />125,000
<br />130,000
<br />135,000
<br />140,000
<br />150,000
<br />155,000
<br />160,000
<br />170,000
<br />180,000
<br />185 000
<br />195 000
<br />205 000
<br />215 000
<br />230 000
<br />240 000
<br />250 000
<br />265 000
<br />280 000
<br />
<br />3.750%
<br />3.850%
<br />3.950%
<br />4.050%
<br />4.150%
<br />4.300%
<br />4.400%
<br />4.550%
<br />4.700%
<br />4.850%
<br />4.950%
<br />5.100%
<br />5.100%
<br />5.200%
<br />5.200%
<br />5.250%
<br />5.250%
<br />5.300%
<br />5.350%
<br />5.400%
<br />
<br />233 953.33
<br />173 215.00
<br />168 595.00
<br />163 657.50
<br />158 392.50
<br />152 790.00
<br />146 770.00
<br />140 170.00
<br />133,117.50
<br />125,597.50
<br />117,352.50
<br />108,442.50
<br />99,007.50
<br />89,062.50
<br />78,402.50
<br />67,222.50
<br />55,147.50
<br />42,547.50
<br />29,297.50
<br />15,120.00
<br />
<br />293 953.33
<br />293 215.00
<br />293 595.00
<br />293 657.50
<br />293 392.50
<br />292 790.00
<br />296 770.00
<br />295 170.00
<br />293 117.50
<br />295 597.50
<br />297 352.50
<br />293,442.50
<br />294,007.50
<br />294,062.50
<br />293,402.50
<br />297,222.50
<br />295,147.50
<br />292,547.50
<br />294,297.50
<br />295,120.00
<br />
<br />3,590,000 2,297,860.83 5,887,860.83
<br />
<br />Fiscal Annual
<br />Year Revenue
<br />2001
<br />2002 293,953
<br />2003 293,215
<br />2004 293,595
<br />2005 293,658
<br />2006 293,393
<br />2007 292,790
<br />2008 296,770
<br />2009 295,170
<br />2010 293,118
<br />2011 295,598
<br />2012 297,353
<br />2013 293,443
<br />2014 294,008
<br />2015 294,063
<br />2016 293,403
<br />2017 297,223
<br />2018 295,148
<br />2019 292,548
<br />2020 294,298
<br />2021 295,120
<br />
<br />Doted 10/01/2001
<br />Delivery Dote 10/01/2001
<br />First Coupon Dote 8/01/2002
<br />
<br />Costs to finance 3,504,900
<br />
<br />Water tower 1,844,000
<br />Wall # 7 178,400
<br />Wl'P # 7 1,482,500
<br />
<br />Bond Year Dollars 45,062 Costs of issuance 30,100
<br />Average Life 12.552 Years Discount 55,000
<br />Average Coupon 5.09937% Capitalized interest 0
<br />Net Interest CoSt (NIC) 5.21887% Other 0
<br />True Interest CoSt (TIC) 5.22637% Total issue 3,590,000
<br />
<br />The traditional bond sale process has scheduled the sale on a date coinciding with a regular City
<br />Council meeting. To get the best possible bids, it is necessary to receive and accept the bids on
<br />the same day. Since most local governments meet on Monday and Tuesday, the bond market can
<br />get crowded on these days. For example, on August 20 Ehlers alone conducted sales for seven
<br />separate issues. Heavy volume may produce negative results for issuer through increased interest
<br />rates and loss of bidders.
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<br />Page 3
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