HomeMy WebLinkAbout14-1 CFD-refinancing, AttachmentAttachment 1
TRUCKEE DONNER PUBLIC UTILITY DISTRICT, CALIFORNIA
Refunding of CFD 03-1 Special Tax Bonds, Old Greenwood
Summary of Refunding 3/20/13
Refunding
Results
REFUNDING BONDS
Cost to payoff 2003 Bonds
12,113,490
Cost of Issuance & Underwriter's Discount (1)
244,332
New Reserve Fund
1,131,300
Existing Reserve Fund
1,265,632
Debt Service Due 9-1-13
503,490
Par Amount of 2013 Bonds
11,720,000
Arbitrage Yield 4.32%
All -In True Interest Cost 4.54%
Final Maturity (September 1 st) 2033
AVERAGE ANNUAL NET DEBT SERVICE (2)
Existing 1,028,883
Refunding (2013 Issue) 899,251
Savings 129,632
TOTAL NET DEBT SERVIICE (2
Existing
19,526,747
Refunding (2013 Issue)
17,074,460
Savings
2,452,287
Net Present Value Savings
1,652,190
Net Present Value Savings %
14.04%
(1) Includes bond & disclosure cousel, District admin., printing, trustee, underwriter's discount,
appraisal, special tax consultant, verification report, CalMuni, and rounding/misc., as necessary.
(2) Includes the existing and new reserve funds, and interest earnings thereon.
Note: Based on a sensitivity analysis, for every 10 basis point increase in interest rate, average
annual savings decrease approximately $8,600.
Prepared by Brandis Tallman LLC