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—EI-E]Debt Issuance Service <br />Term/Call Feature: The 2009B Bonds are being issued for an 8 -year period. Interest is <br />payable each six months. Principal on the 2009B Bonds will be due on <br />February 1 in the years 2011 through 2018. The Bonds will be non - <br />callable. <br />Discussion Issues: Based on current coupon rates, the estimated future savings as a result of <br />this current refunding of the Bonds is approximately $252,000 which is a <br />$220,000 (5.46%) Net Present Value after all fees and expenses. <br />Presale Report <br />2001A Abatement Bonds - $21,175 or 4.566% Net Present Value after all <br />fees and expenses (annual savings of approximately $3,500). <br />2001B GO Improvement Bonds - $107,000 or 5.48% Net Present Value <br />after all fees and expenses (annual savings of approximately $15,000). <br />2002A GO Improvement Bonds - $124,100 or 5.755% Net Present Value <br />after all fees and expenses (annual savings of approximately $16,000). <br />The projected interest rates are based on current market rates. Rates higher or <br />lower will change the actual savings. GFOA recommends issuers have at least <br />a 3% Net Present Value Savings. <br />October 8, 2009 <br />Page 3 <br />