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CITY OF INVER GROVE- HEIGHTS City of Inver Grove Heights Prepared 14-Aug-90 <br /> MUNICIPAL GOLF COURSE Municipal-Golf ,.Course By SPRINGSTED Incorporated <br /> PROJECT FINANCING Project- Assumptions Page 1 <br /> - - - - -- - -- -- -- --------- ----- ----------- --------------------------------------------------------------------------- ---- --- - <br /> CAPITAL COSTS (1990 $) BOND SIZING (1990 $) <br /> Guaranteed Project Cost - $4,572,500 Total Capital Costs $4,572,500 <br /> Capitalized Bond Interest 858,480 <br /> Bond Reserve Funds 10.00% 584,000 <br /> Site Acquisition - - 0 Bond Discount 2.00% 114,500 <br /> Improvements 0 Bond Issuance Costs 75,000 <br /> Other Project Expenses 0 Investment Earnings (363,196) <br /> Escalation/Delay Costs 0 Other 0 <br /> Miscellaneous 0 Additional Earnings (1 ,284) <br /> --------------- ............... <br /> TOTAL CAPITAL COSTS (1990 $)- $4,572,500 BONDING NECESSARY (1990 $) $5,840,000 <br /> FINANCING ASSUMPTIONS SOURCES & USES OF FUNDS <br /> Bonds Dated 01 -Oct-90 SOURCES: <br /> Bonds Mature 01-Dec <br /> Bond Term (Years) 20 Bond Proceeds 5,840,000 <br /> Tax Exempt Interest Rate 8.10% Interest Earnings:Const 8 Cap Int 363,196 <br /> First Principal Payment: 01 -Dec-95 Non-Bond Proceeds 18,250 <br /> Interest Capitalized thru: 01 Sep-92 Additional Earnings 1 ,284 <br /> --------------- <br /> ,y-. Total Sources: $6,222,730 <br /> USES: - <br /> Earnings Rate: <br /> Construction Fund -; , , t7.7ft Construction Cost $4,572,500 <br /> Reserve Fund - 8.00% Capitalized Interest 858,480 <br /> Cap. Interest Fund 7.75% Reserve Fund 602,250 <br /> Underwriter's Discount 1149500 D <br /> Bond Issuance Costs 75,000 -o <br /> Additional Issuance Costs 0 M <br /> Additional Earnings 0 0 <br /> W ------------- - - <br /> C Total Uses: $6,222,730 X <br />