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APPROPRIATION COMMITTEE
<br /> ARTICLE 2: REMODEUNG/RECONSTRUCTION OF TOWN SCHOOLS
<br /> ANNUAL DEBT SERVICE REQUIREMENTS
<br /> Exhibit C
<br /> "COMPREHENSIVE, MULTIYEAR COMMITMENT"APPROACH
<br /> FYs Project FY 1999 FY 2000 FY 2001 FY 2002 FY 2003 FY 2004 FY 2005 ' FY 2006 FY 2007 FY 2008 FY 2009
<br /> 1999-2023 Phase 1 $1,883,000 53,038,600 $3,483,800 $3,450,800 $6,449,000 $7,262,951 $7,062;400 $6,861,851 $6,661,300 $6,020,751 $5,442,200
<br /> 2004-2031 Phase 2 320.000 669.200 989.200 1.321.400 2.485.200 2.552.975
<br /> Gross Debt Service 1.883.000 33 0300 3.483.800, 3.450.800 6.449.000 7.582.951 7.731.600 7.851.051 7.982.700 8.505.951 7,995.175
<br /> SBAB Phase 1 2,440,909 3,453,556 3,453,556 3,453,556 3,453,556 3,113,480 3,113,480
<br /> SBAB Phase 2 Q Q Q Q 821.305, 821.305
<br /> SBAB Totals 0 0 0 0 2.440.909 3,453,556 3.453.556 3.453.556 3.453.556 3,934.785 3.934.785
<br /> Net Debt Service 1.883,000 3.038.600, 3.483.800 3.450.800 4.008.091 4.129.395 4.278.044 4.397.495 4.529.144 4.571.166 4.060.390,
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<br /> Assumptions for Annual Debt Service
<br /> Phase 1 Phase 2
<br /> Projects I Cost FY Start Term Projects C StartTerm
<br /> High School 28,465,000 1999 20 years Bowman 8,360,000 2004 20 years
<br /> Clarke 1?,600,000 2000 20 years Bridge 8,370,000 2004 20 years
<br /> Diamond 14,355,000 1999 20 years Estabrook 8,650,000 2006 20 years
<br /> Harrington 8,000,000 2000 20 years Fiske 7,655,000 2006 20 years
<br /> Technology 2.200.000 1999 5 years Hastings 6.740.000 2008 20 years
<br /> Reimbursable Total 65.620.000 Phase 2 Total 39.775.000
<br /> Technology 1,300,000 1999 5 years
<br /> Swing Space 4.000.000, 1999 10 years Note
<br /> Non-Reimbursable 5.300.000, All projects fully reimbursable.
<br /> Phase 1 Total 70.920.000
<br /> Borrowing: Reimbursable projects:Short-term borrowing first four years;bonds Issued in Year 5
<br /> Nonreimbursable projects:No short-term borrowing;bonds issued in Year 1
<br /> Repayment Period: Bonds issued for terms as noted
<br /> Principal Payments: Level annual principal payments for all bonds
<br /> Interest Rates: Short-term borrowing @ 4%;long-term bonds @ 5%
<br /> SBAB Reimbursement Schedule: Level payments begin in Year 5 and extend for life of each bond issue
<br /> APPS I.XLS.Debt Schedule E t C 3113/97
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