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HomeMy WebLinkAboutDocumentation_Miscellaneous_Tab 4_4/22/1996 1 I MEMORANDUM TO: Thomas G. Bradford, Village Mana er FROM: Bill Kascavelis, Director of Fina e DATE: April 18, 1996 SUBJECT: Financial Information for Finance & Administration Committee Meeting April 22, 1996 Enclosed are the following reference materials for the April 22nd Finance & Administration Committee Meeting: the Reverse Osmosis Treatment Plant conceptual cost estimates prepared by Reese, Macon & Associates, Inc., Bond Financial schedules prepared by Florida Municipal Advisors, Inc., a historical review of net income from operations available for debt service coverage and a financial analysis of the Water Enterprise Fund. Scenario #2, 4 MGD Plant capacity with a start-up of 1 MGD treatment capacity, can be financed with current rates. Scenario #1 financing is estimated to require approximately a 5% rate increase. Respectfully submitted. BCK/mk Encls. r RMA Reese, Macon and Associates, Inc. �rww.rnii. •. .+u..Lin r.ai. • 4,, :*i i r•;•' �r' �.k PT Oai n� l�r,yr a rrw� w+atr�rtrv+n w. ` '♦ Mad•wr 4:4 nu r�rt w�rerrnl irt+r• r' rru'w �wrr' 'JJ:J.,+...��.. «:�:'.' 7,.'•7. ti�:.Si. r.r•ie"....i'.C.�,.e..>..::...: a.. ��...� ..r.r.' c��r'.1i,a'.'e:�i�..,,w.�'�...:.i�i}f. �!"�t.:'>i{(. 11i.: Data March 18, 1996 To: Tom Hall Froze: Torn lenseaf Re: R.O. Plant Concepts and Conceptual Cost Estimates As we discussed, we have developed four (4) R.O. plant concepts for your use in determining the Village Bond and Rate costs. It should be noted that these are still conceptual cost estimates as opposed to preliminary cost estimates, since no pre-design work effort has been performed which would enable us to provide greater detail in the costs provided herein. All total costs include a 10% contingency and engineering cost, which exclude previously approved design work. The conceptual costs are as follows. 1. 4 MGD Plant, initially sized for 1 MGD. Assumptions: • All piping sized for ultimate plant • Building is along Old Dude w/office & lab Wells, 1 additional @ 1,000 GPM $ 390,000 Raw Water Piping (on-site only w/well equipment) 150,000 Site Work (paving, grading, clearing/grubbing, fencing, etc.) 150,000 High Service Pumps (1 @ 1,700 GPM) 40,000 R.O. Equipment, 1 MGD (piping in plant, filters, membranes, supports, pumps, meters, cleaning system) 1,600,000 Self Contained Generator w/ Containment 125,000 Chemical Feeds (bull feed) 125,000 Scavenger Tank 15,000 Building w/ office, lab, etc. for ultimate facility 1,200,000 Degasifier and Scrubber (2 MOD rated) 175,000 Clearwell 50,E Transfer Pumps (2 (§ 1,400 GPM each) 60,000 Yard Piping 325,000 Electrical, Instrumentation & Controls 1,100,000 Reject Disposal (chemical feed, piping & diffuser) 500,000 Subtotal $6,035,000 Contingency & Engineering 1.020.000 Total Conceptual Cost $7,055,000 6415 Lake Worth Road • Suite 307 • Lake Worth,FL 33463-2907 Telethon. (407)433-3224 • Facsimile (407)433-8011 ipr Wrr17t '7 966l-8t PROJECTED MONTHLY DRAWS RO PLANT 4.0 MG DESIGN, 1.0 MG START UP 1 RO WELL # 2 Reject Main WTP / Raw WM TOTAL FY-97 OCT 96 6,500 4,500 57,000 68,000 NOV 96 6,500 4,500 34,200 45,200 DEC 96 34,420 4,000 34,200 72,620 JAN 97 135,310 4,750 34,200 174,260 FEB 97 155,485 4,000 34,200 193,685 MAR 97 108,335 1,500 34,200 144,035 APR 97 1,000 337,950 338,950 MAY 07 1,000 232,990 233,990 JUN 97 1,000 316,970 317,970 JUL 97 1,500 419,095 420,595 AUG 97 13,420 419,095 432,515 SEP 97 112,080 419,095 531,175 FY-98 OCT 97 112,080 419,095 531,175 NOV 97 112,080 419,095 531,175 DEC 97 97,545 419,095 516,640 JAN 98 97,545 419,095 516,640 FEB 98 419,095 419,095 MAR 98 419,095 419,095 APR 98 419,095 419,095 MAY 98 729.090 729.090 Totals: $446,550 $572,500 $6,035,950 $7,055,000 2. 4 MGD Plant, initially sized for 1 MGD. Assumptions: • All piping sized for ultimate plant • Building is along Old Dixie w/o office & lab (ultimate building footprint w/o interior upgrades) • No bulk chemical feed is provided Wells, l additional @ 1,000 GPM $ 390,000 Raw Water Piping (on-site only w/well equipment) 150,000 Site Work (paving, grading, clearing/grubbing, fencing, etc.) 150,000 High Service Pumps (1 @ 1,700 GPM) 40,000 R.O. Equipment, 1 MGD (piping in plant, filters, membranes, supports, pumps, meters, cleaning system) 1,600,000 Self Contained Generator w/ Containment 125,000 Chemical Feeds (drum feed) 35,000 Scavenger Tank 15,000 Building w/o office, lab, etc sized for ultimate facility 1,000,000 Degasifier and Scrubber (1 MGD rated) 135,000 Clearweil 80,000 Transfer Pumps (2 @ 850 GPM each) 40,000 Yard Piping 300,000 Electrical, Instrumentation & Controls 750,000 Reject Disposal (chemical feed, piping & diffuser) 500.000 Subtotal $5,310,000 Contingency & Engineering 875,000 Total Conceptual Cost $6,185,000 -2- [ !PP G *, LCaq r9777t11•4 CET HfN ' J t ! AFF t—e t—c PROJECTED MONTHLY DRAWS RO PLANT 4.0 MG (Partial Design), 1.0 MG START UP I RO WELL # 2 Reject Main WTP / Raw WM TOTAL FY-97 OCT 96 6,500 4,500 36,000 47,000 NOV 96 6,500 4,500 21,600 32,600 DEC 96 34,420 4,000 21,600 60,020 JAN 97 135,310 4,750 21,600 161,660 FEB 97 155,485 4,000 21,600 181,085 MAR 97 108,335 1,500 21,600 131,435 APR 97 1,000 213,450 214,450 MAY 07 1,000 232,990 233,990 JUN 97 1,000 200,190 201,190 JUL 97 1,500 266,490 267,990 AUG 97 13,420 305,165 318,585 SEP 97 112,080 419,095 531,175 FY-98 OCT 97 112,080 419,095 531,175 NOV 97 112,080 419,095 531,175 DEC 97 97,545 419,095 516,640 JAN 98 97,545 419,095 516,640 FEB 98 419,095 419,095 MAR 98 419,095 419,095 APR 98 435,000 435,000 MAY 98 435,000 435.000 Totals: $446,550 $572,500 $5,165,950 $6,185,000 3. 1 MGD Plant, (stand alone) Note: This type of facility reduces upfront coats, but leads to a substantially higher expense when an expansion is required. Assumptions: • 'Bare Bones" (throw away type) facility in metal building placed in rear of property w/ minimal Bearing. • Building will not have an office, lab or control room • High service pumps located outside building • Reject main is sized for ulitmate planned 4 MOD Wells, 1 additional @ 1,000 GPM S 390,000 Raw Water Piping (on-site only w/well equipment) 150,000 Site Work (paving, grading, clearing/grubbing, fencing, etc.) 100,000 High Service Pumps (1 @ 1,700 GPM) 40,000 R.O. Equipment, 1 MGD (piping in plant, filters, membranes, supports, pumps, meters, cleaning system) 1,200,000 Self Contained Generator w/ Containment 90,000 Clerical Feeds (drum feed) 35,000 Scavenger Tank 15,000 Building (equipment only - no pipe trenches) 200,000 Degasifiier and Scrubber (1 MGD rated) 135,000 Qearwell 60,000 Transfer Pumps (2 @ 850 GPM each) 40,000 Yard Piping 225,000 Electrical, Instrumentation & Controls 500,000 Reject Disposal (chemical feed, piping & diffuser) 500,000 Subtotal $3,680,000 Contingency & Engineering 540,000 Total Conceptual Cost $4,220,000 -3- 'd < t AQ V Ler nr D 71.1 -�77N t rndd t Hd9 t •z O=F:-Q t-r , PROJECTED MONTHLY DRAWS RO PLANT 1.0 MG DESIGN, 1.0 MG START UP (throw away plant) RO WELL # 2 Reject Main WTP / Raw WM TOTAL FY-97 OCT 96 6,500 4,500 28,800 39,800 NOV 96 6,500 4,500 17,280 28,280 DEC 96 34,420 4,000 17,280 55,700 JAN 97 135,310 4,750 17,280 157,340 FEB 97 155,485 4,000 17,280 176,765 MAR 97 108,335 1,500 17,280 127,115 APR 97 1,000 170,760 171,760 MAY 07 1,000 117,720 118,720 JUN 97 1,000 160,155 161,155 JUL 97 1,500 213,190 214,690 AUG 97 13,420 213,190 226,610 SEP 97 112,080 213,190 325,270 FY-98 OCT 97 112,080 213,190 325,270 NOV 97 112,080 213,190 325,270 DEC 97 97,545 213,190 310,735 JAN 98 97,545 213,190 310,735 FEB 98 213,190 213,190 MAR 98 213,190 213,190 APR 98 353,365 353,365 MAY 98 365.040 365.040 Totals: $446,550 $572,500 $3,200,950 $4,220,000 4. 4 MGD Plant, initially sized for 3 MGD (this concept would cover the situation whereby Tequesta breaks away from Jupiter prior to their 2007 contract date) Assumptions: Wells, 3 additional @ 1,000 GPM S1,170,000 Raw Water Piping and Equipment 600,000 Site Work (paving, grading, clearing/grubbing, fencing, etc.) 150,000 High Service Pumps (3 @ 1,700 GPM) 100,000 R.Q. Equipment, 3 MGD (piping in plant, filters, membranes, supports, pumps, meters, cleaning system) 2,800,000 Self Contained Generator w/ Containment 125,000 Chemical Feeds (drum feed) 125,000 Scavenger Tank 15,000 Building (equipment only - no pipe trenches) 1,200,000 Degasifier and Scrubber (4 MGD rated) 350,000 aearwell 80,000 Transfer Pumps (3 @ 850 GPM each) 100,000 Yard Piping 350,000 Electrical, Instrumentation & Controls 1,400,000 Reject Disposal (chemical feed, piping & diffuser) 500.000 Subtotal S9,065,000 Contingency & Engineering 1.640.000 Total Conceptual Cost $10,705,000 tcj-78/96-1 06 -4- t t @i? CST Cq r r T- 71 -1-1?11 HC>4 a ;„aq t -7 PROJECTED MONTHLY DRAWS RO PLANT 4.0 MG DESIGN, 3.0 MG START UP II RO WELLS (3) Reject Main WTP / Raw WM TOTAL FY-97 OCT 96 26,235 4,500 82,650 113,385 NOV 96 26,235 4,500 50,000 80,735 DEC 96 34,420 4,000 50,000 88,420 JAN 97 135,310 4,750 50,000 190,060 FEB 97 155,485 4,000 50,000 209,485 MAR 97 108,335 1,500 50,000 159,835 APR 97 148,850 1,000 340,000 489,850 MAY 07 148,850 1,000 460,000 609,850 JUN 97 148,850 1,000 600,000 749,850 JUL 97 148,850 1,500 605,000 755,350 AUG 97 148,850 13,420 605,000 767,270 SEP 97 109,380 112,080 605,000 826,460 FY-98 OCT 97 112,080 605,000 717,080 NOV 97 112,080 605,000 717,080 DEC 97 97,545 605,000 702,545 JAN 98 97,545 605,000 702,545 FEB 98 605,000 605,000 MAR 98 745,555 745,555 APR 98 745,555 745,555 MAY 98 729,090 729090 Totals: $1,339,650 $572,500 $8,792,850 $10,705,000 APR-18-'96 THU 15:58 ID: TEL NU: tt033 P02/10_ FLORIDA MUNICIPAL ADVISORS, INC. - M MUNICIPAL FINANCIAL CONSULTANTS VILLAGE OF TEQUESTA,FLORIDA Water Revenue Bonds,Series 1996 Historic and Projected Debt Service Coverage Fiscal Year Net Revenue Historical Ended Operating Operating Available for Debt Service September 30 &Ault& Expenses Debt Service Coverage 1987 1,636,794 1,065,878 567,916 1.15X 1988 1,686,127 1,067,417 600,710 1.33X 1989 1,896,136 1,257,770 638,366 l.29X 1990 1,963,238 1,293,742 669,496 l.35X 1991 1,979,513 1,320,123 659,390 1.33X 1992 2,141,844 1,510,491 631,353 1.27X 1993 2,388,504 1,686,223 702,281 1.42X 1994 2,511,918 1,755,125 756,793 1,53X 1995 2,738,893 2,025,904 712,989 1,44X 1996 + 2,863,000 2,151,670 711,330 1,44X Maximum annual debt service for a 25 year amortization occurs on June 1, 2002,$495,330. Debt service coverage @ 1,25X MARS is$619,163. *Estimated 9121 NORTH MILI7AR Y TRAIL, s'C11TE 200,PALM BEACH GARDENS,FLOJUVA 17410 7IIIrPHOIVE F4071 coy 47OO FAX(4071 ea6-4781 1.0.4/1&96.3:41 PM 3. 1 MOD Plant, (stand alone) Note: This type of facility reduces upfront costs, but leads to a substantially higher expense when nn expansion is required. Assumptions: • "Bare Bones" (throw away type) facility in metal building placed in rear of property wl minimal clearing. • Building will not have an offloa, lab or control room • High service pumps located outside building • Reject main is sized for ulitmate planned 4 MOD Walls, 1 additional @ 1,000 GPM S 390,000 Raw Water Piping (on-site only w/well equipment) 150,000 Site Work (paving, grading, clearing/grubbing, fencing, etc.) 100,000 High Service Pumps (1 C9? 3.,700 GPM) 40,000 R.O. Equipment, 1 MGD (piping in plant, filters, membranes, supports, pumps, meter:, cleaning system) 1,200,000 Self Contained Generator w/ Containment 90,000 Chemical Feeds (drum feed) 35,000 Scavenger Tank 15,000 Building (equipment only - no pipe trenches) 200,000 Degasifler and Scrubber (1 MGD rated) 135,000 Clearwell 60,000 Transfer Pumps (2 @ 850 GPM each) 40,000 Yard Piping 225,000 Electrical, Instrumentation & Controls S00,000 Reject Disposal (chemical feed, piping & diffuser) S00.000 Subtotal $3,680,000 Contingency & Engineering 540.000 Total Conceptual Cost $4,220,000 -3- E d t I(33 EZT L0r koa1.4 t-+Od. 1H(fet 'Z 966i-eI• C Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario I PROJECT SUMMARY Dated 6/01/1996 Delivery 6/01/1996 BOND SOURCES & USES Par Amount of Bonds S4,515,000.00 Total Sources S4,515,000.00 Total Underwriter's Discount (0.900%) S40,635.00 Costs of Issuance 100,000.00 Gross Bond Insurance Premium 25,000.00 Deposit to Debt Service Reserve fund (DSRF) 383,392.50 Deposit to Project Construction Fund 3,965,744.80 Contingency 227.70 Total Uses S4,515,000.00 FLOW OF FUNDS DETAIL PROJECT CONSTRUCTION FUND (PCF) SOLUTION METHOD NET FUNDED Deposit to Project Construction Fund 3,965,744.80 Interest 254,255.20 Transfers from Debt Service Reserve Fund Transfers from Capitalized Interest Fund Total PCF Draws 4,220,000.00 CAPITALIZED INTEREST FUND (CIF) SOLUTION METHOD GROSS FUNDED Deposit to Capitalized Interest Fund (CIF)Interest Transfers from Debt Service Reserve Fund Transfers from Project Construction Fund - Total CIF Draws - BOND STATISTICS Average Life 12.166 YEARS Average Coupon 5.6624704% Net Interest Cost (NIC) 5.7364464% Bond Yield for Arbitrage Purposes 5.6814063X True Interest Cost (TIC) 5.7234656Z Effective Interest Cost (EIC) 6.0678239% Florida Municipal Advisors, Inc. FILE = TECWATER Public Finance Department 4/10/1996 4:28 PM Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario I DEBT SERVICE SCHEDULE DATE PRINCIPAL COUPON INTEREST DEBT SERVICE 6/01/1996 - - - - 6/01/1997 140,000.00 3.90000% 243,257.50 383,257.50 6/01/1998 145,000.00 4.15000% 237,797.50 382,797.50 6/01/1999 150,000.00 4.40000% 231,780.00 381,780.00 6/01/2000._:, 155,000.00 4.55000X 225 180.00 `;:360 1.00 6/01/2001 165,000.00 4.70000% 218,127.50 383,127.50 6/01/2002 170,000.00 4.80000% 210,372.50 380,372.50 6/01/2003 180,000.00 4.90000% 202,212.50 382,212.50 6/01/2004 190,000.00 5.00000% 193,392.50 383,392.50 6/01/2005 195,000.00 5.10000% 183,892.50 "378 892.50 6/01/2006 205,000.00 5.20000% 173,947.50 378,947.50 6/01/2007 220,000.00 5.35000% 163,287.50 383,287.50 6/01/2008 230,000.00 5.45000% 151,517.50 381,517.50 6/01/2009 240,000.00 5.55000% 138,982.50 378,982.50 6/01/2010 :..:..::,255,000.00 5.65000% 125,662 50:: 380,662.50 6/01/2011 270,000.00 5.75000% 111,255.00 381,255.00 6/01/2012 285,000.00 5.80000% 95,730.00 380,730.00 6/01/2013 300,000.00 6.00000% 79,200.00 379,200.00 6/01/2014 320,000.00 6.00000% 61,200.00 381,200.00 6/01/2015 340,000.00 6.00000% 42,00000,......._ 382,000.00 6/01/2016 360,000.00 6.00000% 21,600.00 381,600.00 TOTAL 4,515,000.00 - 3,110,395.00 7,625,395.00 Florida Municipal Advisors, Inc. FILE = TEOWATER Public Finance Department 4/10/1996 4:29 PM YIELD STATISTICS Accrued Interest from 06/01/1996 to 06/01/1996 Average Life 12.166 YEARS Bond Years 54,930.00 Average Coupon 5.6624704% Net Interest Cost (WIC) 5.7364464% Bond Yield for Arbitrage Purposes 5.6814063% True Interest Cost (TIC) 5.7234656% Effective Interest Cost (EIC) 6.0678239% Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario I OPERATION OF PROJECT CONSTRUCTION FUND DATE BEG. BALANCE YIELD INTEREST DRAWS END. BALANCE 6/01/1996 3,965,744.80 4.75000% - - 3,965,744.80 10/01/1996 3,965,744.80 4.75000% 62,545.00 39,800.00 3,988,489.80 11/01/1996 3,988,489.80 4.75000% 15,633.77 28,280.00 3,975,843.57 12/01/1996 .3,975,843.57 4.75000% 15,584.20 55,700 00 3,935,727.77 1/01/1997 `. 935,727.77 4.75000% 15,426.96 157,340.00 3,793,814.73 2/01/1997 3,793,814.73 4.75000% 14,870.69 176,765.00 3,631,920.42 3/01/1997 3,631,920.42 4.75000% 14,236.12 127,115.00 3,519,041.54 4/01/1997 3,519,041.54 4.75000% 13,793.66 171,760.00 3,361,075.20 5/01/1997 3,361,075.20 4.75000% 13,174.48 118,720.00 3,255,529.68 6/01/1997 3,255,529.68 4.75000% 12,760.77 161,155.00 3,107,135` 5 7/01/1997 3,107,135.45 4.75000% 12,179.11 214,690.00 2,904,624.56 8/01/1997 2,904,624.56 4.75000% 11,385.31 226,610.00 2,689,399.87 9/01/1997 2,689,399.87 4.75000% 10,541.70 325,270.00 2,374,671.57 10/01/1997 2,374,671.57 4.75000% 9,308.05 325,270.00 2,058,709.62 11/01/1997 2,058,709.62 4.75000% 8,069.51 325,270.00 1,741;509.19` 12/01/1997 1,741,509.19 4.75(00% 6,826.23 310,735.00 1,437,600.42 1/01/1998 1,437,600.42 4.75000% 5,635.00 310,735.00 1,132,500.42 2/01/1998 1,132,500.42 4.75000% 4,439.08 213,190.00 923,749.50 3/01/1998 923,749.50 4.75000% 3,620.84 213,190.00 714,180.34 4/01/1998 714,180.34 4.75000% 2,799.39 353,365.00 343,41 `73.. 5/01/1998 363,614.73 4.75000% 1,425.27 365,040.00 TOTAL - - 254,255.20 4,220,000.00 - Florida Municipal Advisors, Inc. FILE = TEOWATER Public Finance Department 4/10/1996 4:29 PM PROJECT CONSTRUCTION FUND (PCF) SOLUTION METHOD NET FUNDED Deposit to Project Construction Fund 3,965,744.80 First Deposit Date 6/01/1996 Daycount Method 30/360 Frequency of Interest Coapounding 2 PER YEAR Interest on aggregate Balance or individual Draws: Individual Draws Transfer amounts in excess of PCF requirements to: Debt Service Fund PROJECTED MONTHLY DRAWS __ _ _ _ 1- RO PLANT 1.0 MG DESIGN, 1.0 MG START UP _(throw away plant -+ J RO WELL,#12 Reject Main WTP LEWWI TOTAL FY-97 OCT 96 6,500 4,500 28,800 39,800 NOV 96 6,500 4,500 17,280 28,280 DEC 96 34,420 4,000 17,280 55,700 JAN 97 135,310 4,750 17,280 157,340 FEB 97 155,485 4,000 17,280 176,765 MAR 97 108,335 1,500 17,280 127,115 APR 97 1,000 170,760 171,760 MAY 07 1,000 117,720 118,720 JUN 97 1,000 160,155 161,155 JUL 97 1,500 213,190 214,690 AUG 97 13,420 213,190 226,610 SEP 97 112,080 213,190 325,270 FY-98 OCT 97 112,080 213,190 325,270 NOV 97 112,080 213,190 325,270 DEC 97 97,545 213,190 310,735 JAN 98 97,545 213,190 310,735 FEB 98 213,190 213,190 MAR 98 213,190 213,190 APR 98 353,365 353,365 MAY 98 ,04Q 44 Totals: $446,550 $672,600 $3,200,960 $4,220,000 Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario II PROJECT SUMMARY Dated 6/01/1996 Delivery 6/01/1996 BOND SOURCES & USES Par Amount of Bonds S4,480,000.00 Total Sources S4,480,000.00 Total Underwriter's Discount (0.900%) $40,320.00 Costs of Issuance 100,000.00 Gross Bond Insurance Premium 25,000.00 Deposit to Debt Service Reserve Fund (DSRF) 347,047.50 Deposit to Project Construction Fund 3,965,744.80 Contingency 1,887.70 Total Uses S4,480,000.00 FLOW OF FUNDS DETAIL PROJECT CONSTRUCTION FUND (PCF) SOLUTION METHOD NET FUNDED Deposit to Project Construction Furl 3,965,744.80 Interest 254,255.20 Transfers from Debt Service Reserve Fund - Transfers from Capitalized Interest Fund - Total PCF Draws 4,220,000.00 CAPITALIZED INTEREST FUND (CIF) SOLUTION METHOD GROSS FUNDED Deposit to Capitalized Interest Fund (CIF) - Interest Transfers from Debt Service Reserve Fund - Transfers from Project Construction Fund - Total CIF Draws BOND STATISTICS Average Life 15.704 YEARS Average Coupon 5.8703646% Net Interest Cost (NIC) 5.9276739% Bond Yield for Arbitrage Purposes 5.8775546% True Interest Cost (TIC) 5.9133156% Effective Interest Cost (EIC) 6.2123554% Florida Municipal Advisors, Inc. FILE = TEQWATER Public Finance Department 4/15/1996 10:35 AM Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario II DEBT SERVICE SCHEDULE DATE PRINCIPAL COUPON INTEREST DEBT SERVICE 6/01/1996 - - 6/01/1997 95,000.00 3.90000% 251,692.50 346,692.50 6/01/1998 95,000.00 4.15000% 247,987.50 342,987.50 6/01/1999 100,000.00 4.40000% 244,045.00 344,045.00 6/01/2000 105,000.00 4.55000% 239,645.00 344.645.00. 6/01/2001 110,000.00 4.70000% 234,867.50 344,867.50 6/01/2002 115,000.00 4.80000% 229,697.50 344,697.50 6/01/2003 120,000.00 4.90000% 224,177.50 344,177.50 6/01/2004 125,000.00 5.00000% 218,297.50 343,297.50 6/01/2005 135,000.00' 5 10000% 212,047 50 . ..:: 347,047 50 6/01/2006 140,000.00 5.20000% 205,162.50 345,162.50 6/01/2007 145,000.00 5.35000% 197,882.50 342,882.50 6/01/2008 155,000.00 5.45000% 190,125.00 345,125.00 6/01/2009 165,000.00 5.55000% 181,677.50 346,677.50 6/01/2010 170,000.00 5.65000% 172,520 00> 342.,520 00 6/01/2011 180,000.00 5.75000% 162,915.00 342,915.00 6/01/2012 190,000.00 5.80000% 152,565.00 342,565.00 6/01/2013 205,000.00 6.00000% 141,545.00 346,545.00 6/01/2014 215,000.00 6.00000% 129,245.00 344,245.00 6/01/2015 230,000.00 6.00000% 116,345.00 346,345.00 6/01/2016 240,000.00 6.00000% 102,545.00 342,545.00 6/01/2017 255,000.00 6.10000% 88,145.00 343,145.00 6/01/2018 270,000.00 6.10000% 72,590.00 342,590.00 6/01/2019 290,000.00 6.10000% 56,120.00 346,120.00 <:4/01/2020 305,000.00 6.10000% 38,430.00 343,430.00 6/01/2021 325,000.00 6.10000% 19,825.00 344,825.00 TOTAL 4,480,000.00 - 4,130,095.00 8,610,095.00 Florida Municipal Advisors, Inc. FILE = TEOWATER Public Finance Department 4/15/1996 10:36 AM YIELD STATISTICS Accrued Interest from 06/01/1996 to 06/01/1996 - Average Life 15.704 YEARS Bond Years 70,355.00 Average Coupon 5.8703646% Net Interest Cost (NIC) 5.9276739% Bond Veld for Arbicrage Purposes 5.8775546% True Interest Cost (TIC) 5.9133156% Effective Interest Cost (EIC) 6.2123554% Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario II OPERATION OF PROJECT CONSTRUCTION FUND DATE BEG. BALANCE YIELD INTEREST DRAWS END. BALANCE 6/01/1996 3,965,744.80 4.75000% - 3,965,744.80 10/01/1996 3,965,744.80 4.75000% 62,545.00 39,800.00 3,988,489.80 11/01/1996 3,988,489.80 4.75000% 15,633.77 28,280.00 3,975,843.57 12/01/1996 3,975,843.57 4.75000% 15,584.20 55,700.00 3,935,727.77 1/01/1997 3,935,727.T7 4.75000% 15,426.96 157,340,00 3,793,814 J3 2/01/1997 3,793,814.73 4.75000% 14,870.69 176,765.00 3,631,920.42 3/01/1997 3,631,920.42 4.75000% 14,236.12 127,115.00 3,519,041.54 4/01/1997 3,519,041.54 4.75000% 13,793.66 171,760.00 3,361,075.20 5/01/1997 3,361,075.20 4.75000% 13,174.48 118,720.00 3,255,529.68 6/01/1997 3,255,529.68 4.75000% 12,760.77 161,155.00 3,107,13545 7/01/1997 3,107,135.45 4.75000% 12,179.11 214,690.00 2,904,624.56 8/01/1997 2,904,624.56 4.75000% 11,385.31 226,610.00 2,689,399.87 9/01/1997 2,689,399.87 4.75000% 10,541.70 325,270.00 2,374,671.57 10/01/1997 2,374,671.57 4.75000% 9,308.05 325,270.00 2,058,709.62 11/01/1997 2,058,709.62 4.75000% 8,069.57 325 270.00 1;741,509 19' ' 12/01/1997 1,741,509.19 4.75000% 6,826.23 310,735.00 1,437,600.42 1/01/1998 1,437,600.42 4.75000% 5,635.00 310,735.00 1,132,500.42 2/01/1998 1,132,500.42 4.75000% 4,439.08 213,190.00 923,749.50 3/01/1998 923,749.50 4.75000% 3,620.84 213,190.00 714,180.34 4/01/1998 714,180.34 4.75000% 2,799.39 353,365.00 363,614.73 5/01/1998 363,614.73 4.75000% 1,425.27 365,040.00 TOTAL - - 254,255.20 4,220,000.00 - Florida Municipal Advisors, Inc. FILE = TEOWATER Public Finance Department 4/15/1996 10:35 AM PROJECT CONSTRUCTION FUND (PCF) SOLUTION METHOD NET FUNDED Deposit to Project Construction Fund 3,965,744.80 First Deposit Date 6/01/1996 Daycount Method 30/360 Frequency of Interest Compounding 2 PER YEAR Interest on aggregate Balance or individual Draws: Individual Draws Transfer amounts in excess of PCF requirements to: Debt Service Fund 2. 4 MGD Plant, initially sized for 1 MGD. Assumptions: • All piping sized for ultimate plant • Building is along Old Dixie w/o office & lab (ultimate building footprint w/o interior upgrades) • No bulk chemical feed is provided Wells, 1 additional @ 1,000 GPM S 390,000 Raw Water Piping (on-site only w/well equipment) 150,000 Site Work (paving, grading, clearing/grubbing, fencing, etc.) 150,000 High Service Pump` (1 @ 1,700 GPM) 40,000 R.O. Equipment, 1 MGD (piping in plant, firs, membranes, supports, pumps, meters, cleaning system) 1,600,000 Self Contained Generator w/ Containment 125,000 Cieniical Feeds (drum feed) 35,000 Scavenger Tank 15,000 Building w/o office, lab, etc. sized for ultimate facility 1,000,000 Degasifier and Scrubber (1 MGD rated) 135,000 aearwell 80,000 Transfer Pumps (2 @ 850 GPM each) 40,000 Yard Piping 300,000 Electrical, Instrumentation & Controls 750,000 Reject Disposal (chemical feed, piping & diffuser) _MAN Subtotal S5,310,000 Contingency & Engineering 475.000 Total Conceptual Cost $6,185,000 APR-18-'% THU 16:00 ID: TEL IC: p033 P06/10 illsge of lowest', Pieria Your Trestmrlt Plant aewrxw !crude ferias 1996 Scenario II PROJECT flbMA11 Doted 6/01/1s16 Deliveries 6/01/1996 aces; MRCSS i Ulil For Ahem of Sends 16,505,000.00 Total Sources S6,505.000.00 Total Underwriter's Dlsoant (0.11042) l5e.545.01 Costs of !mere* 100,630.00 Dross bond Insurance rrssius. 15,000.00 Deposit to Debt lord a Reserve Fund (D$RF) 495,310.00 Deposit to Project Construction Fund 5,122,116.96 Oast rgrnay 3.268.0k Total Vasa 16.5o5,000.0O FLOW Of ? D$DETAIL P1I3JECT CONSTRUCTION FWD (PCP) IIOLUTIO METNOD RET Minn Deposit to ►roJset Conatnotlon Fund 3.122.636.96 interest 3J.313•o4 Trwfors from Debt ferrite NNsrvs fud - Trrasfsrs fres Cetp(tatIted interest fund - Tstat PCF Drama 6,10,110.00 GFITALIZ19 IMIt*ENT FUND (CIF) SOLvtioN METNW DAOsf memo Deposit to capitalized Interest Fuld (CIF) lntorast - Transfers from Debt Service Neorve Fins! - Transfers from Project ear+stn.tlon Fumes Total C1F Draw - WV STATISTIC' Average Lift 15..63 39TEARS sl Avsrs Coupon 74X let Intorsst Cat (NICI 5.7666112% Sand Yield for Arbitrage Purposes 5.701663 % True Interest Cost (TIC) 0.7617136X tifactivu Interest Coot (11C) 1.1661847g Florida Munielpst Advtaora, Inc. FILL • T1011 rolls vinare' Department i/ $/1006 1117 PM Pu++1 a1ix•s utaa 003 olumw.J1nW1 13d /4 I.421i4 u` slunww yi•US+l mem 1•+vhtvut MO40 1R+P1A1Pu1 JO axa1.s •l+aslroe uo h•+•wt ml 11s1 t Outpu+°l les.►•?ul 10 Asuortmu o9c/Ot 3unoyN0 9661/14h a.o 11•°0 1•J11 96'9611711'6 ;mu uolorumoo ll.laJ1 01 1iesdp0 Baru tbl maim 1o10106 t1711 awu 10112C1111SNO3 131fCs1 Nd 9iR 9961/i1/9 Woot6J d.0 46um+11 111494 llnl . n11 'mot 1.1001AWU 1bt�1�+N •p1�1! 06'011'691'1 Milin't9f - - Tr101 00'000'Sft sl'ON'1 x0000S'1 24'6ofii1 0104/t0/i grestiggage 6i.Dta r:.:n;�1�. 1T � 91f 6Lt t 9 10 z•'• F Ms 00•6e0 et1 20'tit'1 o9.9tc'6tl't 001412'611 2S'222'9 m000s'1 w•ac'e69't a661/1o/t D0.1u'ia9'1 00'019416 f9'9tl'0 so000c'1 tr'121'001'1 ti661/10/1 Ss'141'102'Z 00.019'9tc %t•9f0'ot 1100o0c•1 tt•99f'nL'2 LM4/1O/11 ' 9zztt�gi► :�""xo0ws 'rros'sre f 1661,/14n1 Ss•tz0'cu'c oe•CA1'tfc 9oo00c-, tc7.11'e60'1 t66t/t0n tt-tt1'662'1 C0•616'111 t9'rie'91 60000s•1 11111'09S', IA l/ta/* trat'o9i'1 00'066'0,2 tt•tto'u WWOOOS'1 ff•926'019'1 lbbt/►6/t 19'186 “61 00'066 fa 61'6it i1 mow, er of S tbel/10/1 arsonist's 00.OSt'tti truO'ot mow, tt'pf'z0►'S /44/101, tt'iK'2M'S 00'K1Ifl X19102 1,000051 iT'ifizl1'i L461/104 f0'm Ic'S 00110't21 10.610'l3 10010L'1 t0'atx'tt9'i t661/t0.' trcot ftt i 00'co: 09 ta.2i1't2 x00009•1 tl'ti0 2SfT i /tt 16'464'2W'S o0'009'tt n'311112 SMOG', ►S'S12'Z9I'S 9461/t0Itl 1i'Sta'tns'S 00•o00'ts svtii'to notary 16'9W'Z;t'S 9001/10/04 06.902'[191 - - 1:000051 1%%10W'zt9'i 966ilI*/O slrttlw olllf 2,0110 110131111 41211 1001M •Ow LV alw 1031131113103 131 OU4 40 U01 mee 11 .ljw»o0 961t Mt1M 1puQ1 Ina"' Wild 3umils.u1 awn •PN•1/ 'U.IWt.1 is i6e111A IMIMMUIL 9T/Lad EE'0tt :ON 731 :af t :91 f1H1 %.-FYI-2ldti 71911196'1 (211) 2900 i•u11ul r+lis1► 1 %9g1t91'5 (311) 007 30$J0W1 w+Jl XSL9f901'S wsed.i1 J 1f19Jr Jo► P1s1A pvcii *Z6199911 (OM lb7 lsa.Jswl 7oR %14414011 uoboa SOSJIAV 00'599101 oJs94 Coo! 1111A t1911 s111 ss'JW "'9661/I0/90 in 9661/l0/90 1104 7w0wt pwuszY 101111011 01111 W API 0141/11/1 iUIS JP oc S JI! vt1Wd IIDii - ilIJ 'out 's os0p4 lsdl,turw 101J61! 00'611'1ii'Zt 00'GLL'9l1'G 00'000'406'9 1/A01 00'6E1'641 01'16I'2I 100006'i Ou'090'sr?_ tLDI!►6N ose 661 01'19,L - 00'010 Sl► 61 N 00'641'061 00'649'O06 %DOOSn'S O0'00^'06f VIEVIL/9 00'01 161 00'016'ZZI 6000S11 00'00010LE 110Z/L019 00'5l1'1g1 00'ils'21t %000SO"S 00'000'0if 9W110/9 tt'lagarkPittkallglii10'00l 061 00'00I �r •u"grf 0tf ' y- - 16.00'001 06190'166 6000W6 00'000'S61 i101/l0/1 /i12010 06710'Slz moors 00'000'09I I10I/L0/9 s0'sbb'N1 00'646'12i %000i9'S 03'030'SA It6I/11/9 w itt i61 00'666 GUI 600006'6 00'000 012 6 00196'261 00'SW/11 w0001'0 00'000'SI 9001/10/9 00'01/% 00'0144112 6000061 00'0o0'StI 1001/t0/9 o0.0Q1'767 00'007'64Z mows 001Qo/'sce 900I/10/9 orSdi Sit 00'66s 110f %00010'4 00'000 Oh 192/10/9 00'610261 00'041'1It 100116', 00'000'ut 5Qt110/9 00'051'SO - o0'ofs'SZf 1100110'1 00'000'1LL I002/1019 00'oSf'n, 00'Oss'2ts 100161'1 00'000'09i 1001/10/9 00'09s Est &MUM ZOOM', 00"000'S!1 0661 l0 9 00'0,2'I6! o0"o1I'Z!i now, oo'O s'o11 0641/10/9 00'QLS'Z61 00'Olf'tif 600004'f 00'064'sil 1661/10/9 - - 9661/10/9 13IAY1s 1110 LiiiiiNI 110dfr= 1WI01111J 1190 1100204 13161111 1130 11 swamis 9661 106J94 wog NU All itwld 3U3ssJ1 Js3M w1JoI1 'motel N 46.11,A Ismiloomini --0TiS8d CEIN :a4 131 :CI 6S:ST f1H1 %.-BT-adti Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario I PROJECT SUMMARY Dated 6/01/1996 Delivery 6/01/1996 BOND SOURCES 8 USES Par Amount of Bonds S6,850,000.00 Total Sources S6,850,000.00 Total Underwriter's Discount (0.900%) S61,650.00 Costs of Issuance 100,000.00 Gross Bond Insurance Premium 28,578.03 Deposit to Debt Service Reserve Fund (DSRF) 14,356.75 Deposit to Project Construction Fund 6,645,398.18 Contingency 17.04 Total Uses S6,850,000.00 FLOW OF FUNDS DETAIL PROJECT CONSTRUCTION FUND (PCF) SOLUTION METHOD NET FUNDED Deposit to Project Construction Fund 6,645,398.18 Interest 409,601.82 Transfers from Debt Service Reserve Fund - Transfers from Capitalized Interest Fund - Total PCF Draws 7,055,000.00 CAPITALIZED INTEREST FUND (CIF) SOLUTION METHOD GROSS FUNDED Deposit to Capitalized Interest Fund (CIF) - Interest - Transfers from Debt Service Reserve Fund - Transfers from Project Construction Fund - Total CIF Draws - BOND STATISTICS Average Life 12.144 YEARS Average Coupon 5.5072549% Net Interest Cost (N1C) 5.5813668% Bond Yield for Arbitrage Purposes 5.5405725% True Interest Cost (TIC) 5.5735344% Effective Interest Cost (EIC) 5.8298260% Florida Municipal Advisors, Inc. FILE = TEGWATER Public Finance Department 4/ 1/1996 11:02 AM Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario I DEBT SERVICE SCHEDULE DATE PRIMCIPAL COUPON INTEREST DEBT SERVICE 6/01/1996 - - - - 6/01/1997 210,000.00 3.65000% 359,652.50 569,652.50 6/01/1998 220,000.00 4.10000% 351,987.50 571,987.50 6/01/1999 230,000.00 4.35000% 342,967.50 572,967.50 6/01/2000 240,000.00 4.50000% 332,962.50 572,962.50 6/01/2001 250,000.00 4.60000% 322,162.50 572,162.50 6/01/2002 260,000.00 4.70000% 310,662.50 570,662.50 6/01/2003 275,000.00 4.80000% 298,442.50 573,442.50 6/01/2004 285,000.00 4.90000% 285,242.50 570,242.50 6/01/2005 300,000.00 5.00000% »271,277.50 571,271.50 6/01/2006 315,000.00 5.10000% 256,277.50 571,277.50 6/01/2007 330,000.00 5.25000% 240,212.50 570,212.50 6/01/2008 350,000.00 5.35000% 222,887.50 572,887.50 6/01/2009 365,000.00 5.45000% 204,162.50 569,162.50 6/01/2010 390,000.00 5.55000% 184,270.00 574,270.00 6/01/2011 410,000.00 5.65000% 162,625.00 572,625.00 6/01/2012 430,000.00 5.70000% 139,460.00 569,460.00 6/01/2013 455,000.00 5.75000% 114,950.00 569,950.00 6/01/2014 485,000.00 5.750008 88,787.50 573,787.50 6/01/2015 510,000.00 5.800008 60,900.00 570,900.00 6/01/2016 540,000.00 5.80000% 31,320.00 571,320.00 TOTAL 6,850,000.00 - 4,581,210.00 11,431,210.00 Florida Municipal Advisors, Inc. FILE = TEOWATER Public Finance Department 4/ 1/1996 11:01 AM YIELD STATISTICS Accrued Interest from 06/01/1996 to 06/01/1996 - Average Life 12.144 YEARS Bond Years 83,185.00 Average Coupon 5.5072549% Net Interest Cost (MIC) 5.5813668% Bond Yield for Arbitrage Purposes 5.5405725% True Interest Cost (TIC) 5.5735344% Effective Interest Cost (EIC) 5.8298260% Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario I OPERATION OF PROJECT CONSTRUCTION FUND DATE BEG. BALANCE YIELD INTEREST DRAWS END. BALANCE 6/01/1996 6,645,398.18 4.50000% - - 6,645,398.18 10/01/1996 6,645,398.18 4.50000% 99,310.86 68,000.00 6,676,709.04 11/01/1996 6,676,709.04 4.50000% 24,806.11 45,200.00 6,656,315.15 12/01/1996 6,656,315.15 4.50000% 24,730.33 72,620.00 6,608,425.48 1/01/1997 6,608,425.48 4.50000% 24,552.42 174.260.00 C4541.71740 2/01/1997 6,458,717.90 4.50000% 23,996.20 193,685.00 6,289,029.10 3/01/1997 6,289,029.1G 4.50000% 23,365.75 144,035.00 6,168,359.85 4/01/1997 6,168,359.85 4.50000% 22,917.43 338,950.00 5,852,327.28 5/01/1997 5,852,327.28 4.50000% 21,743.26 233,990.00 5,640,080.54 6/01/1997 5,640,080.54 4.50000% 20,954 71 317,970 0d': 5,343,065.25 7/01/1997 5,343,065.25 4.50000% 19,851.19 420,595.00 4,942,321.44 8/01/1997 4,942,321.44 4.50000% 18,362.30 432,515.00 4,528,168.74 9/01/1997 4,528,168.74 4.50000% 16,823.60 531,175.00 4,013,817.34 10/01/1997 4,013,817.34 4.50000% 14,912.61 531,175.00 3,497,554.95 11/01/1997 3,497,554.95 4.50000% 12,994.54 531,175.00 2,979,374.49 12/01/1997 2,979,374.49 4.50000% 11,069.32 516,640.00 2,473,803.81 1/01/1998 2,473,803.81 4.50000% 9,190.98 516,640.00 1,966,354.79 2/01/1998 1,966,354.79 4.50000% 7,305.63 419,095.00 1,554,565.42 3/01/1998 1,554,565.42 4.50000% 5,775.71 419,095.00 1,141,246.13 4/01/1998 1,141,246.13 4.50000% 4,240.09 419,095.00 726,391.22 5/01/1998 726,391.22 4.50000% 2,698.78 729,090.00 - TOTAL - - 409,601.82 7,055,000.00 Florida Municipal Advisors, Inc. FILE = TEOWATER Public Finance Department 4/ 1/1996 11:02 AM PROJECT CONSTRUCTION FUND (PCF) SOLUTION METHOD NET FUNDED Deposit to Project Construction Find 6,645,398.18 First Deposit Date 6/01/1996 Dayco4nt Method 30/360 Frequency of Interest Compounding 2 PER YEAR Interest on aggregate Balance or individual Draws: Individual Draws Transfer amounts in excess of PCF requirements to: Debt Service Fund 4. 4 MGD Plant, initially sized for 3 MOD (this concept vxruld cover the situation whereby Tequesta breaks away from Jupiter prior to their 2007 contract date) Assumptions: Wells, 3 additional @ 1,000 GPM 51,170,000 Raw Water Piping and Equipment 600,000 Site Work (paving, grading, clearing/grubbing, fencing, etc.) 150,000 High Service Pumps (3 @ 1,700 GPM) 100,000 R.O. Equipment, 3 MGD (piping in plant, filters, membranes, supports, pumps, meters, cleaning system) 2,800,000 Self Contained Generator w/ Containment 125,000 Chemical Feeds (drum feed) 125,000 Scavenger Tank 15,000 Building (equipment only - no pipe trenches) 1,200,000 Degasifier and Scrubber (4 MGD rated) 350,000 Clearwell 80,000 Transfer Pumps (3 @ 850 GPM each) 100,000 Yard Piping 350,000 Electrical, Instrumentation & Controls 1,400,000 Reject Disposal (chemical feed, piping & diffuser) S00.000 Subtotal S9,065,000 Contingency & Engineering j,640.000 Total Conceptual Cost $10,705,000 tcj-78f96-106 Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario II PROJECT SUMMARY Dated 6/01/1996 Delivery 6/01/1996 BOND SOURCES & USES Par Amount of Bonds $10,355,000.00 Total Sources S10,355,000.00 Total Underwriter's Discount (0.900%) S93,195.00 Costs of Issuance 100,000.00 Gross Bond Insurance Premium 43,197.28 Deposit to Debt Service Reserve Fund (DSRF) 21,674.13 Deposit to Project Construction Fund 10,094,313.82 Contingency 2,619.77 Total Uses S10,355,000.00 FLOW OF FUNDS DETAIL PROJECT CONSTRUCTION FUND (PCF) SOLUTION METHOD NET FUNDED Deposit to Project Construction Fund 10,094,313.82 Interest 610,686.18 Transfers from Debt Service Reserve Fund - Transfers from Capitalized Interest Fund - Total PCF Draws 10,705,000.00 CAPITALIZED INTEREST FUND (CIF) SOLUTION METHOD GROSS FUNDED Deposit to Capitalized Interest Fund (CIF) - Interest - Transfers from Debt Service Reserve Fund Transfers from Project Construction Fund - Total CIF Draws - BOND STATISTICS Average Life 12.141 YEARS Average Coupon 5.5071863% Net Interest Cost (NIC) 5.5813124% Bond Yield for Arbitrage Purposes 5.5404852% True Interest Cost (TIC) 5.5734897X Effective Interest Cost (EIC) 5.7683413% Florida Municipal Advisors, Inc. FILE = TE01I Public Finance Department 4/ 1/1996 10:55 AM Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario II DEBT SERVICE SCHEDULE DATE PRINCIPAL COUPON INTEREST DEBT SERVICE 6/01/1996 - - - 6/01/1997 320,000.00 3.65000% 543,645.00 863,645.00 6/01/1998 335,000.00 4.10000% 531,965.00 866,965.00 6/01/1999 345,000.00 4.35000% 518,230.00 863,230.00 6/01/2000 360,00000 4.50000% 503,222.50 863,222.50 6/01/2001 375,000.00 4.60000% 487,022.50 862,022.50 6/01/2002 395,000.00 4.70000% 469,772.50 864,772.50 6/01/2003 415,000.00 4.80000% 451,207.50 866,207.50 6/01/2004 435,000.00 4.90000% 431,287.50 866,287.50 6/01/2005 455,000.00 5.00000% 409,972.50 $64,972.50 6/01/2006 475,000.00 5.10000% 387,222.50 862,222.50 6/01/2007 500,000.00 5.25000% 362,997.50 862,997.50 6/01/2008 525,000.00 5.35000% 336,747.50 861,747.50 6/01/2009 555,000.00 5.45000% 308,660.00 863,660.00 6/01/2010 585,000.00 5.55000% 278,412.50 863 412.50 6/01/2011 620,000.00 5.65000% 245,945.00 865,945.00 6/01/2012 655,000.00 5.70000% 210,915.00 865,915.00 6/01/2013 690,000.00 5.75000% 173,580.00 863,580.00 6/01/2014 730,000.00 5.75000% 133,905.00 863,905.00 6/01/2015 770,000.0 5.80000% 91,930.00 861,930.00 6/01/2016 815,000.00 5.80000% 47,270.00 862,270.00 TOTAL 10,355,000.00 - 6,923,910.00 17,278,910.00 Florida Municipal Advisors, Inc. FILE = TEGII Public Finance Department 4/ 1/1996 10:53 AM YIELD STATISTICS Accrued Interest from 06/01/1996 to 06/01/1996 Average Life 12.141 YEARS Bond Years 125,725.00 Average Coupon 5.5071863% Net Interest Cost (NIC) 5.5813124% Bond Yield for Arbitrage Purposes 5.5404852% True Interest Cost (TIC) 5.5734897% Effective Interest Cost (EIC) 5.7683413% Village of Tequesta, Florida Water Treatment Plant Revenue Bonds Series 1996 Scenario I OPERATION OF PROJECT CONSTRUCTION FUND DATE BEG. BALANCE YIELD INTEREST DRAWS END. BALANCE 6/01/1996 6,645,398.18 4.50000% - - 6,645,398.18 10/01/1996 6,645,398.18 4.50000% 99,310.86 68,000.00 6,676,709.04 11/01/1996 6,676,709.04 4.50000% 24,806.11 45,200.00 6,656,315.15 12/01/1996 6,656,315.15 4.50000% 24,730.33 72,620.00 6,608,425.48 1/01/1997 6,608,425.48 4.50000% 24,552.42 174,260.00 6,458,717.90 2/01/1997 6,458,717.90 4.50000% 23,996.20 193,685.00 6,289,029.10 3/01/1997 6,289,029.10 4.50000% 23,365.75 144,035.00 6,168,359.85 4/01/1997 6,168,359.85 4.50000% 22,917.43 338,950.00 5,852,327.28 5/01/1997 5,852,327.28 4.50000% 21,743.26 233,990.00 5,640,080.54 6/01/1997 5,640,080.54 4.50000% 20,954.71 317,970.00 5,343,065.25 7/01/1997 5,343,065.25 4.50000% 19,851.19 420,595.00 4,942,321.44 8/01/1997 4,942,321.44 4.50000% 18,362.30 432,515.00 4,528,168.74 9/01/1997 4,528,168.74 4.50000% 16,823.60 531,175.00 4,013,817.34 10/01/1997 4,013,817.34 4.50000% 14,912.61 531,175.00 3,497,554.95 11/01/1997 3,497,554.95 4.50000% 12,994.54 531,175.00 2,979,374.49 12/01/1997 2,979,374.49 4.50000% 11,069.32 516,640.00 2,473,803.81 1/01/1998 2,473,803.81 4.50000% 9,190.98 516,640.00 1,966,354.79 2/01/1998 1,966,354.79 4.50000% 7,305.63 419,095.00 1,554,565.42 3/01/1998 1,554,565.42 4.50000% 5,775.71 419,095.00 1,141,246.13 4/01/1998 1,141,246.13 4.50000% 4,240.09 419,095.00 726,391.22 5/01/1998 726,391.22 4.50000% 2,698.78 729,090.00 - TOTAL - - 409,601.82 7,055,000.00 - Florida Municipal Advisors, Inc. FILE = TEOWATER Public Finance Department 4/ 1/1996 11:08 AM PROJECT CONSTRUCTION FUND (PCF) SOLUTION METHOD NET FUNDED Deposit to Project Construction Fund 6,645,398.18 First Deposit Date 6/01/1996 Daycount Method 30/360 Frequency of Interest Compounding 2 PER YEAR Interest on aggregate Balance or individual Draws: Individual Draws Transfer amounts in excess of PCF requirements to: Debt Service Fund VILLAGE OF TEQUESTA WATER ENTERPRISE FUND OPERATING REVENUES AND EXPENSES HISTORICAL ANALYSIS OF NET OPERATING REVENUE AVAILABLE FOR DEBT SERVICE COVERAGE First Year Net Revenue Ended Operating Operating Available for September 30 Revenue Expenses Debt Service 1987 1,633,794 1,065,878 567,916 1988 1,668,127 1,067,417 600,710 1989 1,896,136 1,257,770 638,366 1990 1,963,238 1,293,742 669,496 1991 1 ,979,513 1,320,123 659,390 1992 2,141,844 1,510,491 631,353 1993 2,388,504 1,686,223 702,281 1994 2,511,918 1,755,125 756,793 1995 2,738,893 2,025,904 712,989 * 1996 2,863,000 2,151,670 711,330 * Estimate 4-18-96 WATER ENTERPRISE FUND FY 1995/96 BUDGET ANALYSIS ACTUAL REVISED BUDGET 2/29/96 BUDGET REVENUES Water Sales 2 , 400 , 000 1 , 080 , 248 2 , 592 , 600 Connection Charges 10, 000 4 , 965 10, 000 Fire Hydrant Rents 13 , 900 13 , 900 Other Income (FTD/RC Chgs . ) 2 , 000 2 , 761 4 , 500 Jupiter Water Increase - 0 - * 49, 966 * 450, 000 Water Surcharge 240, 000 97, 374 240, 000 Miscellaneous 1, 000 1, 228 2, 000 Interest Income 90, 000 26, 887 90 , 000 TOTAL REVENUES 2 , 756 , 900 1, 213 , 463 2 , 953 , 300 EXPENDITURES Pumping & Storage 1, 298, 970 493 , 911 1, 298 , 970 Distribution 293 , 975 122 , 268 293 , 975 Office & Administration 558 , 725 262 , 134 558 , 725 Debt Service 290, 855 136 , 815 - 0 - TOTAL EXPENDITURES 2 , 442, 525 1, 015, 128 2, 151 , 670 OTHER FINANCIAL USES Transfers General Fund 90, 000 90, 000 Transfers Cap . Impr . Fund 75 , 000 75, 000 Aid Community Organizations 12 , 500 12 , 500 12 , 500 177, 500 12 , 500 177, 500 TOTAL EXPENDITURES & O/FIN. USES 2 , 620, 025 1 , 027, 628 2, 319 , 170 REVENUES IN EXCESS OF EXPENDITURES 136, 875 235 , 801 623 , 830 RENEWAL & REPLACEMENT EXPENDITURES 227, 500 6, 069 176, 500 NET INCOME ( 90, 625) 6 , 069 447, 330 CAPITAL EXPENDITURES Capital Improvement Account 48, 800 6 . 968 42 , 300 Retained Earnings Account 1 , 673 , 050 120, 892 1, 587, 550 TOTALS 1, 721, 850 127, 860 1, 629, 850 * Not included in totals WATER ENTERPRISE FUND FINANCIAL ANALYSIS CAPITAL ACCOUNTS FY 95/96 Estimated Expenses 1, 629, 850 Expenses paid through 2/29/96 ( 127, 860) Funds Required 1, 501. 990 ASSETS 2/29/96 Capital Improvement Account 962 , 230 Retained Earnings Account 627, 530 Advance to CIF for Library 361, 100 Funds Available 1, 950, 860 Forgive Advance ( 361, 100) 1, 589, 760 Capital Accounts Balance forward 87, 770 Net Income 9/30/96 447, 330 Funds available 10/1/96 535, 100 plus capital contributions Capital projs . budgeted FY 97 209, 625 FY 98 850 FY 99 382, 000 Total 592, 475