Title: FY 2020 Proposed Budget

STONEBRIER CDD - CONTRACT EXPENDITURE SUMMARY

STATEMENT 
STONEBRIER CDD

RESOLUTION 2019-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE STONEBRIER COMMUNITY DEVELOPMENT DISTRICT APPROVING PROPOSED BUDGETS FOR FISCAL YEAR 2019/2020 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW; ADDRESSING TRANSMITTAL, POSTING AND PUBLICATION REQUIREMENTS; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors ("Board") of the Stonebrier Community Development District ("District") prior to June 15, 2019, proposed budgets ("Proposed Budget") for the fiscal year beginning October I, 2019 and ending September 30, 2020 ("Fiscal Year 2019/2020"); and

WHEREAS, the Board has considered the Proposed Budget and desires to set the required public hearing thereon.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE STONEBRIER COMMUNITY DEVELOPMENT DISTRICT:

., -...		l. PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District Manager for Fiscal Year 2019/2020 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget.

SETTING A PUBLIC HEARING. A public hearing on said approved Proposed Budget is hereby declared and set for the following date, hour and location:

DATE: HOUR: LOCATION:

August 8, 2019

6:30 p.m.

Avid Management 2906 Busch Lake Blvd. Tampa, Florida

TRANSMITTAL OF PROPOSED BUDGET TO LOCAL GENERAL PURPOSE
GOVERNMENT.  The District Manager is hereby directed to submit a copy of the Proposed Budget to Hillsborough County at least 60 days prior to the hearing set above.

POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida Statutes, the District's Secretary is further directed to post the approved Proposed Budget on the District's website at least two days before the budget hearing date as set forth in Section 2 and shall remain on the website for at least 45 days.

PUBLICATION OF NOTICE. Notice of this public hearing shall be published in the manner prescribed in Florida law.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 13th DAY OF JUNE, 2019.

B: 
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STONEBRIER COMMUNITY DEVEL PMENT DISTRICT

-

STATEMENT 1
STONEBRIER CDD ‐ Option 2 ‐ Fund Balance Forward ‐ $75,000; Capital Projects ‐ $75,000 PROPOSED BUDGET FOR FY 2020
GENERAL FUND (O&M)

| FY 2014 ACTUAL | FY 2015 ACTUAL | FY 2016 ACTUAL | 2017 ACTUAL | FY 2018 ACTUAL | FY 2019 AMENDED | FY 2019 YTD ‐ MARCH 31 | FY 2020 PROPOSED | VARIANCE 2019 TO 2020
I. REVENUE | | | | | | | | | | |
SPECIAL ASSESSMENTS ON‐ROLL (NET) | $  378,005 | $  351,777 | $  403,140 | $  435,798 | $ | 453,012 | $  438,053 | $	427,809 | $ | 530,234 | $	92,181
SPECIAL ASSESSMENTS OFF‐ROLL‐Developer (Net) | - | - | - | - | | - | - | | | - | -
SPECIAL ASSESSMENTS FOR RESERVES | - | 14,525 | - | - | | - | - | | | - | -
CONTINGENCY CARRYFORWARD (FY 2009 ‐ FY 2014) | - | 93,797 | - | - | | - | - | | | - | -
ASSESSMENT EXTRA FEES | | | - | 2,811 | | - | - | | | | -
INTEREST | 103 | - | 470 | 2,769 | | 2,227 | - | 3,816 | | - | -
MISCELLANEOUS | - | 4,120 | 75 | 1,073 | | - | - | - | | - | -
FUND BALANCE FORWARD | - | 710 | - | - | | - | 85,052 | | | 75,000 | (10,052)
TOTAL REVENUE | 378,108 | 464,929 | 403,685 | 442,451 | 455,239 | 523,105 | 431,625 | 605,234 | 82,129
II. EXPENDITURES | | | | | | | | |
ADMINISTRATIVE | | | | | | | | |
SUPERVISOR COMPENSATION | 3,200 | 8,600 | 12,800 | 11,000 | 9,600 | 12,000 | 5,200 | 12,000 | -
PAYROLL TAXES | 264 | 710 | 979 | 842 | 734 | 918 | 398 | 918 | -
PAYROLL SERVICES | 1,217 | 808 | 726 | 663 | 671 | 750 | 302 | 750 | -
MANAGEMENT CONSULTING SERVICES | 30,000 | 30,000 | 31,375 | 31,375 | 31,375 | 31,380 | 15,688 | 31,380 | -
GENERAL ADMINISTRATIVE | 3,600 | 3,600 | 3,765 | 3,765 | 3,765 | 3,765 | 1,883 | 3,765 | -
GENERAL MASS MAILING | 756 | - | 1,110 | 909 | 695 | 1,000 | - | 1,000 | -
AUDITING | 3,500 | 3,600 | 3,700 | 2,380 | 2,500 | 2,600 | 2,600 | 3,000 | 400
ASSESSMENT ADMINISTRATION | 6,500 | 6,500 | 6,800 | 6,800 | 6,800 | 6,800 | 6,800 | 6,800 | -
MISCELLANEOUS (Bank Service Fees & Reserve Study) | - | 1,555 | 312 | 71 | 127 | 250 | 80 | 250 | -
REGULATORY AND PERMIT FEES | 175 | 175 | 175 | 175 | 175 | 175 | 175 | 175 | -
LEGAL ADVERTISEMENTS | 865 | 759 | 2,040 | 1,092 | 1,655 | 1,500 | 950 | 2,500 | 1,000
ENGINEERING SERVICES | 1,100 | 1,198 | 14,777 | 4,300 | 460 | 6,500 | 1,135 | 8,500 | 2,000
LEGAL SERVICES | 35,029 | 31,461 | 30,687 | 33,279 | 17,653 | 20,000 | 7,608 | 20,000 | -
WEBSITE DEVELOPMENT AND HOSTING | - | - | 1,681 | 980 | 978 | 1,680 | 480 | 2,265 | 585
EMAIL | | | - | 720 | 720 | - | 300 | 720 | 720
INSURANCE | 5,665 | 5,665 | 5,665 | 6,035 | 7,453 | 8,139 | 6,994 | 7,693 | (446)
MISCELLANEOUS SERVICES | - | - | 1,364 | - | - | 500 | - | 500 | -
TOTAL ADMINISTRATIVE | 91,871 | 94,631 | 117,956 | 104,386 | 85,361 | 97,957 | 50,593 | 102,216 | 4,259
DEBT SERVICE ADMINISTRATION | | | | | | | | |
TRUSTEE FEES | 3,180 | 3,717 | 3,717 | 3,717 | 3,717 | 3,718 | - | 3,718 | -
DISSEMINATION AGENT | 1,500 | 1,500 | 1,500 | 5,000 | 1,500 | 1,500 | 1,500 | 1,500 | -
ARBITRAGE | 1,000 | 500 | - | 500 | 1,000 | 500 | - | 650 | 150
TRUST FUND ACCOUNTING | 3,500 | 3,500 | 3,660 | 3,660 | 3,660 | 3,660 | 1,830 | 3,660 | -
TOTAL DEBT SERVICE ADMINISTRATION | 9,180 | 9,217 | 8,877 | 12,877 | 9,877 | 9,378 | 3,330 | 9,528 | 150
FIELD OPERATIONS | | | | | | | | |
PROPERTY TAXES (Streetlights) | 14,490 | 14,490 | 14,490 | 14,497 | 16,621 | 17,000 | 16,621 | 17,000 | -
ENTRY & WALLS MAINTENANCE | - | 300 | - | - | 900 | 3,500 | - | 2,500 | (1,000)
ELECTRICITY‐ (IRRIGATION SYSTEM) | 8,748 | 7,572 | 6,258 | 7,328 | 5,752 | 9,500 | 2,765 | 7,800 | (1,700)
POND & LAKE MAINTENANCE | 18,816 | 18,718 | 17,766 | 19,816 | 21,684 | 24,840 | 13,450 | 25,290 | 450
MITIGATON MONITORING | 1,915 | 2,300 | 1,200 | 600 | 2,300 | 2,200 | 2,200 | 2,200 | -
MITIGATION MAINTENANCE | 3,300 | 3,300 | | 2,200 | 3,300 | 4,400 | - | 4,400 | -
LANDSCAPE MAINTENANCE | 139,080 | 155,838 | 154,558 | 146,340 | 149,820 | 190,364 | 85,047 | 210,639 | 20,275
LANDSCAPE REPLENISHMENT | 13,926 | 39,545 | 1,730 | 10,536 | 13,969 | 10,000 | 5,000 | 10,000 | -
LANDSCAPE IRRIGATION | 709 | 5,507 | 2,152 | 7,532 | 7,475 | 8,600 | 6,329 | 8,600 | -
MISC REPAIRS & PRESSURE WASHING | 1,100 | 16,955 | 6,904 | 10,110 | 6,808 | 6,908 | 2,126 | 15,000 | 8,092
SIGNAGE | - | 1,446 | 2,177 | - | - | - | 70 | 250 | 250
HOLIDAY DECORATIONS | - | - | 1,597 | 8,916 | 8,725 | 10,000 | 10,250 | 10,250 | 250
SECURITY | - | - | - | - | - | - | - | - | -
RUST CONTROL | - | - | - | - | - | 9,540 | 3,975 | - | (9,540)
CAPITAL PROJECTS | - | 4,809 | 50,327 | 29,200 | 51,391 | 13,616 | - | 90,000 | 76,384
MISC FIELD EXPENSE (RESERVE STUDY in FY 2019) | - | - | 2,269 | 1,166 | - | 5,000 | - | - | (5,000)
CONTINGENCY | - | - | | - | 1,288 | 2,000 | - | 4,861 | 2,861
PUMP REPAIRS | | | - | 95 | - | - | - | - | -
POND & WELL REPAIRS ‐ RESERVES | - | - | - | 22,000 | - | - | - | - | -
EROSION CONTROL ‐ RESERVE & REPLACEMENT | | | - | 14,900 | - | - | - | - | -
PALM & OAK TREE TRIMMING ‐ APPROVED FY 2016 | - | - | - | 25,042 | - | - | - | - | -
TOTAL FIELD OPERATIONS | 202,084 | 270,780 | 261,428 | 320,278 | 290,033 | 317,468 | 147,833 | 408,790 | 91,322
RENEWAL & REPLACEMENT RESERVE | - | 74,531 | | 5,000 | 75,994 | 98,302 | - | 84,700 | (13,602)

TOTAL EXPENDITURES | 303,135 | 449,159 | 388,261 | 442,541 | 461,265 | 523,105 | 201,756 | 605,234 | 82,129

EXCESS OF REVENUE OVER (UNDER) EXPENDITURES
FUND BALANCE ‐ BEGINNING (Agreed to FY 2018 Audit)
Increase in Reserve for Renewal & Replacement
Decrease Contingency CarryForward/Fund Balance Forward FB APPROPRIATED ‐ RESERVE & REPLACEMENT
FUND BALANCE ‐ ENDING

74,973
452,234
-
-
-

15,770
527,207
74,531
(93,797)
(14,525)

15,424
509,186
91,283
(91,286)
-

(90)
524,607
-
-

(6,026)
524,517
-
-
-

518,491

98,302
(85,052)
-

229,869

-
-
-

- 531,741
84,700
(75,000)
-

-

-

$ | 527,207 | $ | 509,186 | $ | 524,607 | $ | 524,517 | $ | 518,491 | $ | 531,741 | $ | 229,869 | $ | 541,441 | $ | -

	Fund Balance Allocation	
One Quarter Operating Capital $ | 102,668 | (not inclusive of reserves & projects)
FY 2019 Renewal & Replacement ‐ 05.03.2019 Report | $ | 353,855 |
FY 2020 Renewal & Replacement | $ | 84,700 |
Unassigned Fund Balance | | 218 |
| $ | 541,441 |

Page 1 of 6

STATEMENT 2 STONEBRIER CDD GENERAL FUND (O&M) BUDGET FY 2020

O&M ASSESSMENT ALLOCATION ‐ If "All" Assessments On‐Roll.

Table a ‐ EXPENDITURES

Refer To

Net Amount

Less: Fund Balance Forward (FBF)

Total Assmt NET after
FBF

Total ERU

Assmt NET / ERU

| Administrative & Debt Service (less county collection) [A] | STMT 1 | $ | 111,744 | 19,715 | $	92,029 | 506.0 | $ | 181.88
Field Operations + Reserves [B] | STMT 1 | $ | 493,490 | 55,285 | $	438,205 | 583.1 | $ | 751.51
Total Expenditures | | $ | 605,234 | 75,000 | $	530,234 | |

Table b ‐ Assessments for Administrative Expenditures | Lot Frontage |
| Land Use Type ERU per unit | | SF 50' | SF 60' | SF 65' | SF 75' | Total
C | | 1.00 | | 1.00 | 1.00 | | 1.00 | 506 506
Number of Units Total ERUs Total Assessments ‐ Admin (net) Total Assessments / Unit | D C*D=E E*A=F F/D = H | | 278 | | 37 | 129 | | 62 |
278 | 37 | 129 | 62 |
$ | 50,561 | $ | 6,729 | $	23,462 | $ | 11,276 | $ | 92,029
$ | 181.88 | $ | 181.88 | $	181.88 | $ | 181.88 |

A

Table c ‐ Assessments for Field Operations & Rsrv Study Expenditures | | B
| Land Use Type | SF 50' | SF 60' | SF 65' | SF 75' | Total |
ERU per unit | C | 1.00 | 1.20 | 1.30 | 1.50 | | |
Number of Units | D | | 278 | | 37 | | 129 | | 62 | | 506 |
Total ERUs | C*D=E | | 278 | | 44 | | 168 | | 93 | | 583 |
Assessment Per Unit‐Field (net) | E*B=F | $ | 208,920 | $ | 33,367 | $ | 126,028 | $ | 69,890 | $ | 438,205 |
Total Assessments ‐ Field (net) | F/D = I | $ | 751.51 | $ | 901.81 | $ | 976.96 | $ | 1,127.26 | |

Current Fiscal Year Assessment Allocation*(FY 2020) |
| Land Use Type Total Assessment (NET) Total Assessment (NET)/Unit | | SF 50' | SF 60' | SF 65' | SF 75' | Total

G
H+I

$
$

259,481
933

$
$

40,096
1,084

$
$

149,490
1,159

$
$

81,167
1,309

$

530,234

G

ADMINISTRATION AND FIELD OPERATIONS ASSESSMENTS
Table d ‐ On Roll Assmt: Platted Property |
| Land Use (Lot Frontage) | Platted Units | Assmt NET / Unit | Plus: Cty Fees & Pmt Disc. / Unit | Gross Assmt / Unit | Total NET Assmt | Total Cty Fees & Pmt Disc. | Total GROSS Assmt
50 | 278 | $ | 933.38 | $ | 59.58 | $ | 992.96 | $ | 259,481 | $	16,563.24 | $	276,044.18
60 | 37 | $ | 1,083.69 | $ | 69.18 | $ | 1,152.87 | $ | 40,096 | $	2,559.66 | $	42,656.06
65 | 129 | $ | 1,158.84 | $ | 73.97 | $ | 1,232.81 | $ | 149,490 | $	9,542.13 | $	159,032.15
75 | 62 | $ | 1,309.14 | $ | 83.57 | $ | 1,392.71 | $ | 81,167 | $	5,181.34 | $	86,347.97
Total | 506 | | | | $ | 530,234 | $	33,846.37 | $	564,080.36

* Any differences are due to rounding, which are inconsequential enough to be ignored in most cases
Prior Fiscal Year NET Assessments Allocation* (FY 2019) | SF 50' | SF 60' | SF 65' | SF 75' | Total
| Total Assessment (net) | $	215,020.00 | $	33,099.00 | $	123,209.00 | $	66,725.00 | $	438,053
Total Assessment (net)/Unit | $	773 | $	895 | $	955 | $	1,076 |

Net Change In Assessments (Current compared with Prior)* | SF 50' | SF 60' | SF 65' | SF 75' | Total
| Total Assessments | Incerease (Decrease) | $	44,460 | $	6,990 | $	26,280 | $	14,440 | $	92,180
$ Change per unit | | $	160 | $	188 | $	203 | $	233 |

Page 2

FINANCIAL STATEMEMT CATEGORY

SERVICE PROVIDED

FY 2020 AMOUNT OF
CONTRACT

COMMENTS

ADMININSTRATIVE EXPENDITURES:
SUPERVISORS COMPENSATION | LEGISLATIVE | $ | 12,000.00 | PER MEETING PER BOARD MEMBER @ $200 EACH ‐ TOTAL OF 12 MEETINGS
PAYROLL TAXES | TAXES | $ | 918.00 | 7.65.% of compensation

PAYROLL SERVICES

PAYROLL PROCESSING

$

750.00

fee per payroll processed ‐ $56.00 monthly plus year end fees of
$56.00

MANAGEMENT CONSULTING SERVICES | DISTRICT MANAGEMENT | $ | 31,380.00 | Agreement 12
GENERAL ADMINISTRATIVE | OFFICE EXPENSES | $ | 3,765.00 | Agreement 12,
GENERAL MASS MAILING | GENERAL MASS MAILING | $ | 1,000.00 |

AUDITING

ANNUAL AUDIT

$

3,000.00

DMHB engaged for 2 additonal years, $2,500 for FY 2017 and
$2,600 for FY 2018, will need to get new auditor for FY 2019

ASSESSMENT ADMINISTRATION | ASSMT ROLL PREPARATION & ADMINISTRATION | $ | 6,800.00 | Agreement 12
COUNTY COLLECTION FEES | PROPERTY APPRAISER & TAX COLLECTOR | $ | ‐ | Shown net on the budget
MISCELLANEOUS (BANK FEES) | MISCELLANEOUS (BANK SERVICE FEES) | $ | 250.00 | ESTIMATED
REGULATORY AND PERMIT FEES | SPECIAL DISTRICT ANNUAL FILING FEE | $ | 175.00 | STATUTORILY FIXED
LEGAL ADVERTISEMENTS | PUBLIC NOTICE | $ | 2,500.00 | ESTIMATED,PUBLIC HEARING & MEETING NOTICES. SLIGHT INCREASE TO ADJUST FOR ANY ADVERTISEMENTS IN CASE OF BUDGET INCREASE
ENGINEERING SERVICES | DISTRICT ENGINEER | $ | 8,500.00 | ESTIMATED
LEGAL SERVICES | DISTRICT ATTORNEY | $ | 20,000.00 | ESTIMATED; Agreement 10; Agreement 39
WEBSITE MONTHLY MAINTENANCE | WEBSITE & EMAIL HOSTING | $ | 2,265.00 | ADA Compliance ‐ $1,515 includes website compliance and remediation of 750 documents as well as DPFG remediation mitigation of $500 annually. Additional $250 for any unkown remediation of documents.
EMAIL | GOOGLE HOSTING | $ | 720.00 | Google website hosting
INSURANCE | LIABILITY, PROPERTY & CASUALTY | $ | 7,693.00 | Statement from carrier
MISCELLANEOUS SERVICES | | $ | 500.00 | Amount in FY 2017 was for easement recording.

Page 3

DEBT SERVICE ADMINISTRATION | | |
TRUSTEE FEES | BOND TRUSTEE ‐ US BANK | $ | 3,718.00 | Confirmed with Trustee
DISSEMINATION AGENT | CONTINUING DISCLOSURE TO BONDHOLDERS ‐ DPFG | $ | 1,500.00 | Agreement 7B ‐ May/June Distribution
ARBITRAGE | ARBITRAGE CALCULATION | $ | 650.00 | Agreement 22, $650 per bond per period only Series 2016. Time period is from August to August
TRUST FUND ACCOUNTING | TRUST ACCTG | $ | 3,660.00 | Agreement 12,
| | $ | 111,744.00 |
FIELD OPERATIONS EXPENDITURES: | |
PROPERTY TAXES (Streetlights) | TAXES | $ | 17,000.00 | Tax Collector ‐ Doug Belden
ENTRY & WALLS MAINTENANCE | | $ | 2,500.00 | Miscellaneous based on as needed. Pressure wash monument is approximately $800
ELECTRICITY‐IRRIGATION SYS. | ELECTRICITY | $ | 7,800.00 | Estimated on current usage of approximately $650 pe rmonth, credits were recevied in PY

POND & LAKE MAINTENANCE

CHEMICALLY TREAT PONDS &
Lakes

$

25,290.00

$1,820 monthly with an anticipated increase in January 2020 to
$1,870 .Additional $3,000 for plantings etc.

MITIGATIONS MONITORING

PERMIT COMPLIANCE MONITORING

$

2,200.00

Agreement 34; 5 mitigation areas, semi‐annual for 2 years at
$1,200 per year, additional $1,000 for misc. yearly.

MITIGATIONS MAINTENANCE | MITIGATION MAINTENANCE | $ | 4,400.00 | Agreement 31, $1,100 per quarter ‐ maintain all areas for exotic and nuisance vegetation at permit levels. Contract is for 2 years
LANDSCAPE MAINTENANCE | COMMON AREA | $ | 210,639.00 | Annual contract , January 2020
LANDSCAPE REPLENISHMENT | SERVICES REQUESTED | $ | 10,000.00 | Additional replacement needs as needed, budgeted at $10,000

LANDSCAPE IRRIGATION

IRRIGATION REPAIRS

$

8,600.00

Estimated. As needed. Approximately $300 per month. Additional
$5,000 as needed

MISC. REPAIRS & PRESSURE WASHING

N/A

$

15,000.00

Pressure wash front & rear entrance waterbridge $474, Sweetgrass sign‐$200; Sandhurst sign & Woodside‐$275. Curns
and streets make up the difference

SIGNAGE | MISCELLANEOUS | $ | 250.00 | As needed for signs and painting of poles
HOLIDAY LIGHTING | | $ | 10,250.00 | All lights to be installed after Thanksgiving and prior to January 5 of each year. Contract will expire for 2021 lights.
SECURITY PATROL | | $ | ‐ |
RUST CONTROL | | $ | ‐ | Rust prevention services from irrigation system, contract is for $795 monthly
CAPITAL PROJECTS | | $ | 90,000.00 | Capital Projects
MISC. FIELD EXPENSE | | $ | ‐ | Reserve Study
CONTINGENCY | N/A | $ | 4,861.00 | Estimated, as needed
| | $ | 408,790.00 |
84,700
| | $ | 605,234.00 |

Page 4

FY 2020 BUDGET DEBT SERVICE ASSESSMENT

BUDGET
$ | 473,870
| ‐
| (18,955)
454,915
| 9,477
| 98,819
| 96,319
| 250,000
454,615
300

REVENUE
ASSESSMENTS ON‐ROLL INTEREST‐‐INVESTMENT DISCOUNT (ASSESSMENTS)
TOTAL REVENUE

EXPENDITURES

May 1, 2020

COUNTY‐COLLECTION FEES (ASSESSMENTS) INTEREST EXPENSE

November 1, 2020

PRINCIPAL RETIREMENT
May 1, 2020

TOTAL EXPENDITURES
EXCESS OF REVENUE OVER (UNDER) EXPENDITURES

Table 1 ‐ Platted Property Annual Debt Service Assessment

Land Use
Type

Platted Units

Assigned
ERU

Total ERU

% ERU

MADS

MADS/Unit

50 | 278 | 1.00 | 278.00 | 47.7% | $ | 212,368 | $	764
60 | 37 | 1.20 | 44.40 | 7.6% | $ | 33,918 | $	917
65 | 129 | 1.30 | 167.70 | 28.8% | $ | 128,108 | $	993
75 | 62 | 1.50 | 93.00 | 15.9% | $ | 71,044 | $	1,146
Total | 506 | | 583.10 | 100.0% | $ | 445,438 |

MADS $ 445,437.50

MADS per ERU | $ | 763.91
Gross Assmt. Per ERU | $ | 812.67
Page 5 | |

$6,530,000 SPECIAL ASSESSMENT REFUNDING BONDS, SERIES 2016

Period Ending	Principal	Coupon	Interest	Debt Service

Annual Debt
Service

Bond Balance

8/30/2016 | | | | $ | 6,530,000
5/1/2017 | 200,000 | 2.00% | 141,612.60 | 341,612.60 | | 6,330,000
11/1/2017 | 10,000 | 2.00% | 103,768.75 | 113,768.75 | 455,381.35 | 6,320,000
5/1/2018 | 240,000 | 2.00% | 103,668.75 | 343,668.75 | | 6,080,000
11/1/2018 | | 2.00% | 101,268.75 | 101,268.75 | 444,937.50 | 6,080,000
5/1/2019 | 245,000 | 2.00% | 101,268.75 | 346,268.75 | | 5,835,000
11/1/2019 | | 2.00% | 98,818.75 | 98,818.75 | 445,087.50 | 5,835,000
5/1/2020 | 250,000 | 2.00% | 98,818.75 | 348,818.75 | | 5,585,000
11/1/2020 | | 2.00% | 96,318.75 | 96,318.75 | 445,137.50 | 5,585,000
5/1/2021 | 255,000 | 2.25% | 96,318.75 | 351,318.75 | | 5,330,000
11/1/2021 | | 2.25% | 93,450.00 | 93,450.00 | 444,768.75 | 5,330,000
5/1/2022 | 260,000 | 2.25% | 93,450.00 | 353,450.00 | | 5,070,000
11/1/2022 | | 2.50% | 90,525.00 | 90,525.00 | 443,975.00 | 5,070,000
5/1/2023 | 265,000 | 2.50% | 90,525.00 | 355,525.00 | | 4,805,000
11/1/2023 | | 2.50% | 87,212.50 | 87,212.50 | 442,737.50 | 4,805,000
5/1/2024 | 270,000 | 2.50% | 87,212.50 | 357,212.50 | | 4,535,000
11/1/2024 | | 2.50% | 83,837.50 | 83,837.50 | 441,050.00 | 4,535,000
5/1/2025 | 280,000 | 3.00% | 83,837.50 | 363,837.50 | | 4,255,000
11/1/2025 | | 3.00% | 79,637.50 | 79,637.50 | 443,475.00 | 4,255,000
5/1/2026 | 290,000 | 3.00% | 79,637.50 | 369,637.50 | | 3,965,000
11/1/2026 | | 3.00% | 75,287.50 | 75,287.50 | 444,925.00 | 3,965,000
5/1/2027 | 300,000 | 3.50% | 75,287.50 | 375,287.50 | | 3,665,000
11/1/2027 | | 3.50% | 70,037.50 | 70,037.50 | 445,325.00 | 3,665,000
5/1/2028 | 310,000 | 3.50% | 70,037.50 | 380,037.50 | | 3,355,000
11/1/2028 | | 3.50% | 64,612.50 | 64,612.50 | 444,650.00 | 3,355,000
5/1/2029 | 320,000 | 3.50% | 64,612.50 | 384,612.50 | | 3,035,000
11/1/2029 | | 3.50% | 59,012.50 | 59,012.50 | 443,625.00 | 3,035,000
5/1/2030 | 330,000 | 3.50% | 59,012.50 | 389,012.50 | | 2,705,000
11/1/2030 | | 3.50% | 53,237.50 | 53,237.50 | 442,250.00 | 2,705,000
5/1/2031 | 345,000 | 3.50% | 53,237.50 | 398,237.50 | | 2,360,000
11/1/2031 | | 3.50% | 47,200.00 | 47,200.00 | 445,437.50 | 2,360,000
5/1/2032 | 355,000 | 4.00% | 47,200.00 | 402,200.00 | | 2,005,000
11/1/2032 | | 4.00% | 40,100.00 | 40,100.00 | 442,300.00 | 2,005,000
5/1/2033 | 370,000 | 4.00% | 40,100.00 | 410,100.00 | | 1,635,000
11/1/2033 | | 4.00% | 32,700.00 | 32,700.00 | 442,800.00 | 1,635,000
5/1/2034 | 385,000 | 4.00% | 32,700.00 | 417,700.00 | | 1,250,000
11/1/2034 | | 4.00% | 25,000.00 | 25,000.00 | 442,700.00 | 1,250,000
5/1/2035 | 400,000 | 4.00% | 25,000.00 | 425,000.00 | | 850,000
11/1/2035 | | 4.00% | 17,000.00 | 17,000.00 | 442,000.00 | 850,000
5/1/2036 | 415,000 | 4.00% | 17,000.00 | 432,000.00 | | 435,000
11/1/2036 | | 4.00% | 8,700.00 | 8,700.00 | 440,700.00 | 435,000
5/1/2037 | 435,000 | 4.00% | 8,700.00 | 443,700.00 | | ‐
11/1/2037 | | 4.00% | ‐ | ‐ | 443,700.00 | ‐
Totals | $ 6,530,000 | | 2,796,962.60 | 9,326,962.60 | 9,326,962.60 |
| | | max. annual debt service $ | 445,437.50 |

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