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HomeMy WebLinkAboutGO Bonds 2008 Debt Levy Schedule (FILE: OPH CITY HALL (CIP) FINAL I CITY OF OAK PARK HEIGHTS, MINNESOTA DATE OF ANALYSIS. MAY 27, 2008 GENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS OF 2008 CITY HALL PROJECT DATED DATE OF ISSUE: JUNE 15, 2008 PAR AMOUNT: $6,300,000 (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) (Ol (P) (Q) (R) (S) ANNUAL TAX MARKET VALUE HOMESTEAD ICOWAFRCIAL FINAL TOTAL ANNUAL TAX CAPACITY CAPICITY $100,000 $150,000 $200,000 $250,000 $350,000 $500,000 $500,000 (12 -15) INTEREST DEBT STATUTORY CAPITALIZED TAX SURPLUS CUMULATIVE VALUE A RATE TAX CAPACITY VALUE YEAR PRINCIPAL RATES INTEREST SERVICE 0.00% INTEREST LEVY /DEFICIT BALANCE 2.50%1 INCREASE1 $1,000 $1,500 $2,000 $2,500 $3,500 $5,000 $9,250 2008 122,512.50 122,512.50 122,512.50 $245,025.00 122,512.50 122,512 50 9,274,811 2009 $135,000.00 2.50% 245,025.00 380,025.00 380,025.00 360,000.00 (20,025.00) 102,487.50 9,506,681 3.7868% 37.87 56.80 75.74 94.67 13254 18934 350.28 2010 150,00000 2.75% 241,650.00 391,650.00 391,65000 380,000.00 (11,65000) 90,837.50 9,744,348 3.8997% 39.00 58.50 77.99 97.49 13649 194.98 360.72 2011 155,000.00 2.90% 237,525.00 392,525.00 392,525.00 390,000.00 (2,525.00) 88,312.50 9,987,957 3.9047% 3905 58.57 78.09 97.62 136.66 195.24 361.18 2012 170,000 00 3.05% 233,030 00 403,030.00 403,030 00 400,000.00 (3,030.00) 85,282.50 10,237,656 3.9071% 39.07 5861 78.14 97.68 136.75 195.36 361.41 2013 185,000 00 3.15% 227,845.00 412,845 00 412,845 00 410,000 00 (2,845.00) 82,437.50 10,493,597 3.9071% 39.07 58.61 78.14 97.68 136.75 195.36 361.41 2014 200,00000 3.30% 222,017.50 422,017.50 422,017.50 420,000.00 (2,017.50) 80,420.00 10,755,937 3.9048% 39.05 58.57 78.10 97.62 136.67 195.24 361.20 2015 215,000.00 3.45% 215,417.50 430,417.50 430,417.50 430,000.00 (417.50) 80,002.50 11,024,836 3.9003% 39.00 58.50 78.01 97.51 136.51 195.01 360.78 2016 230,000.00 3.60% 208,000.00 438,000.00 438,000.00 440,000.00 2,000.00 82,002.50 11,300,457 3 8936% 38.94 58.40 77.87 97.34 136.28 194.68 360.16 2017 250,000.00 3.70% 199,720.00 449,720.00 449,720.00 450,000.00 280.00 82,282.50 11,582,968 3 8850% 3885 58.28 77.70 97.13 135.98 194.25 359.36 2018 270,000.00 3.75% 190,470.00 460,470.00 460,470.00 460,000.00 (470.00) 81,812.50 11,872,542 3.8745% 38.74 58.12 77.49 96.86 135.61 193.72 358.39 2019 290,00000 3.80% 180,345.00 470,345.00 470,345.00 470,000.00 (345.00) 81,467.50 12,169,356 3.8622% 38.62 57.93 7714 96.55 135.18 19111 357.25 2020 315,000 00 4.00% 169,325.00 484,325.00 484,325.00 485,000.00 675.00 82,142.50 12,473,590 3.8882% 3888 58.32 77.76 97.21 136.09 19441 359.66 2021 340,000 00 4.00% 156,725.00 496,725.00 496,725 00 500,000.00 3,275.00 85,417.50 12,785,429 39107% 39.11 58.66 78.21 97.77 136.87 195.54 361.74 2022 370,000.00 4.00% 143,125.00 513,125.00 513,125.00 515,000.00 1,875.00 87,292.50 13,105,065 39298% 39.30 58.95 78.60 98.24 137.54 196.49 363.50 2023 405,000.00 4.05% 128,325.00 533,325.00 533,325.00 530,000.00 (3,325.00) 83,967.50 13,432,692 39456% 39.46 59.18 78.91 9864 13810 19728 364.97 2024 440,000.00 4.10% 111,922.50 551,922 50 551,922.50 545,000.00 (6,922.50) 77,045.00 13,768,509 3.9583% 39.58 59.37 79.17 98.96 13854 19792 366.14 2025 485,000.00 4.20% 93,882.50 578,882.50 578,882.50 560,000.00 (18,882.50) 58,162.50 14,112,722 39681% 39.68 59.52 79.36 99.20 13888 198.40 367.04 2026 525,000.00 4.25% 73,512.50 598,512.50 598,512.50 575,000.00 (23,512 50) 34,650.00 14,465,540 3.9750% 39.75 59.62 79.50 99.37 139.12 198.75 367.68 2027 560,000.00 4.35% 51,200.00 611,200.00 611,200.00 595,000.00 (16,20000) 18,450.00 14,827,178 4.0129% 40.13 60.19 80.26 100.32 140.45 200.65 371.19 2028 610,000.00 4.40% 26,84000 636,840.00 636,840.00 620,000.00 (16,840.00) 1,610.00 15197,858 4.0795% 40.80 6119 81.59 101.99 142.78 203.98 377.36 6,300,000.00 3,478,415.00 9,778,41500 9,778,415.00 245,025.00 $9,535,00000 $1,610.00i: AVG. ANNUAL 1NCR..::.$39.20::::$SB.SU $ 78 .39::$97:94::$13:1.9::$1',i5.4 &::::•$962.57: .1 i: flLONTHL.Y.iNCR::: 1.::::$3:27:::•::6440 $6.53: T8 :17: St1:93:::Si633i::::!530:�1: APPLICATION OF FUNDS ESTIMATED CONSTRUCTION NEEDS $6,001,000.00 BONDS DATED: JUNE 15, 2008 TOTAL HARD COSTS 6,001,000.00 ;ESTIMATED AVERAGE COUPON RATE: 4.0745 ADD SOFT COSTS OF ISSUANCE BONDS MATURE DECEMBER 15, 2009 THROUGH 2028 :ESTIMATED NET EFFECTIVE RATE: __ DISCOUNT FACTOR (1,375% OF PAR) 86,625.00 4.1760 %j {-- - -- --------------------------------------------------------- CAPITALIZED INTEREST (12 MONTHS) 245,025.00 INTEREST. DECEMBER 15, 2008 AND SEMIANNUALLY THEREAFTER BOND YEARS 85,370.00 EST. REGISTRATION (PREPAID TO CALL DATE) 4,945.00 ON EACH JUNE 15 AND DECEMBER 15. ESTIMATED RATING FEE 8,700.00 ESTIMATED FAIRNESS OPINION 1,500.00 OPTION. ALL BONDS MATURING IN THE YEARS 2017 THROUGH ESTIMATED OFFICIAL STATEMENT PRINTING 750.00 2028 ARE CALLABLE AT THE OPTION OF THE CITY ON NO RT H LAND S E C U R I T I E S ESTIMATED LEGAL SERVICES 8,500.00 DECEBMER 15, 2016 OR ANY DATE THEREAFTER @ 10 SUBTOTAL $6,357,045 00 PAR PLUS ACCRUED INTEREST. LESS: INVESTMENT INCOME ON CONSTR. ACCOUNT ($57,167.11) (A) PURCHASE PRICE: $6,213,375.00 NORTHLAND SECURITIES, INC. GRANDTOTAL $6,299,877.89 PAYING AGENT & STEVEN J. MATTSON, EXECUTIVE VICE PRESIDENT ROUNDED FOR ISSUANCE $6,300,000.00 REGISTRAR: NORTHLAND TRUST SERVICES 612 -851 -5919 (A) ASSUMES NET CONSTRUCTION AND INTEREST FUNDS INVESTED EST BOND SALE DATE: MAY 27, 2008 800.851 -2920 FOR AVERAGE OF 150 DAYS @ 2 25% EST BOND CLOSING DATE: JUNE 19, 2008