|
Exhibit A
<br />Tennis Court Project
<br />February 2021
<br />Interfund Loan repayment schedule Levy Phase - In
<br />Cumulative Funds
<br />Payment Annual Annual Generated for
<br />Year Principal Principal Interest Payment Levy Year Parks
<br />2022 180,000 - 4,500 4,500 5,000 5,000
<br />2023 184,500 - 4,613 4,613 10,000 15,000
<br />2024 189,113 4,728 4,728 15,000 30,000
<br />2025 193,840 10,000 4,846 14,846 20,000 35,154
<br />2026 183,840 12,500 4,596 17,096 25,000 43,058
<br />2027 171,340 15,000 4,284 19,284 30,000 53,774
<br />2028 156,340 16,000 3,909 19,909 35,000 68,866
<br />2029 140,340 17,000 3,509 20,509 40,000 88,357
<br />2030 123,340 17,000 3,084 20, 084 45,000 113,274
<br />2031 106,340 17,000 2,659 19,659 50,000 143,615
<br />2032 89,340 17,000 2,234 19,234 50,000 174,382
<br />2033 72,340 18,000 1,809 19,809 50,000 204,573
<br />2034 54,340 18,000 1,359 19,359 50,000 235,215
<br />2035 36,340 18,000 909 18,909 50,000 266,306
<br />2036 18,340 18,340 459 18,799 50,000 297,508
<br />Total 193,840 47,492 241,333 525,000 297,508
<br />Notes:
<br />1. No note payments in 2022-2024, levy proceeds retained by Parks Improvement Fund
<br />2. Interest rate for Interfund loan 2.5%
<br />3. Phased in Park Improvement levy reaches 50,000 annually in year 10
<br />4. Interest earned by lending fund $47,492
<br />
|