HomeMy WebLinkAboutBPW-02-06-13-01 - Ratifying Mayor's Signature on Contracts RESOLUTION NO.BPW-BPW-02-06-13-01
RESOLUTION OF THE CITY OF CARMEL BOARD OF PUBLIC WORKS AND SAFETY
ACKNOWLEDGING RECEIPT OF CONTRACT
WHEREAS, pursuant to Indiana Code 36-1-4-7, the City of Carmel, Indiana ("City"), is authorized to
enter into contracts; and
WHEREAS,pursuant to Indiana Code 36-4-5-3,the City's mayor shall sign all contracts of the City; and
WHEREAS, pursuant to his authority under Indiana law, the City's mayor, the Honorable James C.
Brainard, has signed the City contract attached hereto as Exhibit A(the"Contract"); and
WHEREAS, Mayor Brainard now wishes to present the contract to the City's Board of Public Works and
Safety for it to be publicly acknowledged, filed in the Clerk-Treasurer's Office,and made available to the public for
review.
NOW, THEREFORE, BE IT RESOLVED by the City of Carmel Board of Public Works and Safety as
follows:
1. The foregoing Recitals are incorporated herein by this reference.
2. The receipt of the Contract is hereby acknowledged.
3. The Contract shall be promptly filed in the office of the Clerk-Treasurer and thereafter made available to
the public for review.
SO RESOLVED this l2 day of , 2013.
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
James Brainar. ' e i.. •fficer
•ate:
,. A i
ary • Burke,kiemb;r
Date. „J —
Lori S. Wat , en)/o>_/4, 13
ATTEST:
air
Diana Cordray, IMCAT 7Clerk-Treasurer
Date: 14', l �j
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REVENUE DEPOSIT AGREEMENT
Between
CITY OF CARMEL, INDIANA,
And
CITY OF CARMEL REDEVELOPMENT COMMISSION
Dated as of November 20, 2012
Ly
EXHIBIT • -
G
REVENUE DEPOSIT AGREEMENT
This REVENUE DEPOSIT AGREEMENT, dated as of November 20, 2012 (the
"Agreement"), is being entered into between the CITY OF CARMEL, INDIANA (the "City"), a
political subdivision duly created and validly existing under the laws of the State of Indiana (the
"State"), and the CITY OF CARMEL REDEVELOPMENT COMMISSON (the"Commission"),
as governing body of the City of Carmel Redevelopment District (the"District"), a special taxing
district duly created and validly existing under the laws of the State (each, a "Party" and,
collectively, the"Parties").
WITNESSETH
WHEREAS, the Commission, as the governing body for the District pursuant to the Act
(as hereinafter defined), has previously created the Allocation Areas described in Exhibit A
attached hereto in order to capture property tax proceeds derived from incremental assessed
valuation of real and certain depreciable personal property in such Allocation Areas which is in
excess of the "base assessed value" (such property tax proceeds hereinafter referred to as "TIF
Revenue"), all pursuant to and as described in Sections 39 and 39.3 of the Act;.and
WHEREAS, the Commission has previously incurred certain obligations in order to
finance certain improvements located in or serving or benefitting one or more of the Allocation
Areas; and
WHEREAS, the Commission reasonably expects to repay such obligations from TIF
Revenue to be received from the Allocation Areas; and
WHEREAS, the City and the Commission desire to establish a procedure for setting aside
the TIF Revenue as and when received to ensure the timely payment of such obligations as the
same shall become due in accordance with their respective terms;
NOW, THEREFORE, in consideration of the premises and the covenants and agreements
contained herein, the Parties now desire to enter into this Agreement and hereby agree as
follows:
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ARTICLE I
DEFINITIONS
The following words and phrases shall have the following meanings, unless the context
or use clearly indicates another or different meaning or intent. Any terms defined in the Act or
other Indiana statutes, but not otherwise defined herein, shall have the meanings specified in the
Act or other Indiana statutes, unless the context or use clearly indicates another or different
meaning or intent.
"Act" means Indiana Code 36-7-14, Indiana Code 36-7-25, and all related and
supplemental statutes conferring powers or authority on the Commission.
"Allocation Areas" means, collectively, the allocation areas identified on Exhibit A
attached hereto and made a part hereof, which have been previously established by the
Commission in accordance with the Act for the purposes of capturing TIF Revenue.
"Allocation Funds" means, collectively, the allocation funds previously established by
the Commission in accordance with the Act for each of the allocation areas identified on Exhibit
A hereto, for the TIF Revenue collected in the respective Allocation Areas.
"Auditor" shall mean the Auditor of Hamilton County, Indiana.
"Business Day" or "business day" means a day other than Saturday, Sunday or day on
which banking institutions in the city in which the principal corporate trust office of the Deposit
Trustee is located are required or authorized by law to close or on which the New York Stock
Exchange is closed.
"City" shall mean the City of Carmel,Indiana.
"Clerk-Treasurer" means the Clerk-Treasurer of the City.
"Commission" means the City of Carmel Redevelopment Commission, governing body
of the District.
"District"means the City of Carmel Redevelopment District.
"Payment Date" means (i) with respect to the 2010C COPs, January 15 and July 15 of
each year, (ii) with respect to the 2005 Bonds, January 1 and July 1 of each year, and (iii) with
respect to the 2012 Bonds,January 15 and July 15 of each year.
"State" shall mean the State of Indiana.
"TIF Revenue"means the property tax proceeds received by the Commission, which the
Commission reasonably expects to use for the repayment of the 2010C COPs, the 2012 Bonds
and the 2005 Bonds when due, which proceeds are derived from the incremental assessed
valuation of real and certain depreciable personal property in the Allocation Areas in excess of
the assessed valuation described in Section 39(b)(1) of the Act, as such statutory provision exists
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on the date of execution of this Agreement.
"2005 Bonds" shall mean the City of Carmel, Indiana, Redevelopment Authority Lease
Rental Revenue Bonds, Series 2005, dated December 21, 2005, issued in the original aggregate
issued amount of$79,998,227.15.
"2010C COPs" shall mean the City of Carmel, Indiana, Redevelopment District
Certificates of Participation, Series 2010C, dated November 12, 2010, issued in the original
aggregate principal amount of$16,300,000.
"2012 Bonds" shall mean, collectively, the City of Carmel, Indiana, Redevelopment
Authority Lease Rental Revenue Multipurpose Bonds, Series 2012 A, and the City of Carmel,
Indiana, Redevelopment Authority Lease Rental Revenue Multipurpose Bonds, Series 2012 B
(Taxable), anticipated to be issued in December 2012.
"Transaction Documents" means, collectively, any trust indenture, installment payment
contract, loan agreement, lease agreement or other instrument which has been previously
executed by the Commission or the City of Carmel Redevelopment Authority in connection with
the 2010C COPs, the 2005 Bonds and the 2012 Bonds.
(End of Article I)
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ARTICLE II
FUNDS AND ACCOUNTS
Section 2.1. Deposit of TIF Revenue. Upon the receipt of each distribution of TIF
Revenue from the Auditor, the Clerk-Treasurer shall set aside and transfer the TIT Revenue as
follows:
(a) First, the Clerk-Treasurer shall transfer to the paying agent for the
2010C COPs an amount of TIF Revenue equal to the lesser of: (i) all of such semi-annual
distribution of TIT Revenue, or (ii) an amount of TIF Revenue sufficient to pay all
amounts due with respect to the 2010C COPs on the immediately succeeding Payment d
Date, in accordance with the schedule set forth in Exhibit B hereto; provided, however, in
making any such transfers pursuant to this Section, the Clerk-Treasurer shall take into
account any other revenues or funds previously transferred by, or on behalf of, the
Commission to the paying agent for the 2010C COPs and held by the paying agent to pay
debt service on such Payment Date.
(b) Second, the Clerk-Treasurer shall transfer to the bond trustee for
the 2012 Bonds an amount of TIE Revenue equal to the lesser of: (i) all of the remainder
of such semi-annual distribution of TIF Revenue, or (ii) an amount of TIF Revenue
sufficient to pay all amounts due with respect to the 2012 Bonds on the immediately
succeeding Payment Date, in accordance with the schedule set forth in Exhibit C hereto
(to be completed and attached immediately following the sale of the 2012 Bonds);
provided, however, in making any such transfers pursuant to this Section, the Clerk-
Treasurer shall take into account any other revenues or funds previously transferred by,
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or on behalf of, the Commission to the trustee for the 2012 Bonds and held by the trustee
to pay debt service on such Payment Date.
(c) Third, the Clerk-Treasurer shall transfer to the bond trustee for the
2005 Bonds an amount of TIF Revenue equal to the lesser of (i) all of the remainder of
such semi-annual distribution of TIF Revenue, or (ii) an amount of TIF Revenue
sufficient to pay all amounts due with respect to the 2005 Bonds on the immediately
succeeding Payment Date, in accordance with the schedule set forth in Exhibit D hereto;
provided, however, in making any such transfers pursuant to this Section, the Clerk-
Treasurer shall take into account any other revenues or funds previously transferred by,
or on behalf of, the Commission to the trustee for the 2005 Bonds and held by the trustee
to pay debt service on such Payment Date.
Section 2.2. Excess TIF Revenue. In the event that there shall be any remaining TIF
Revenue after making the deposits required by Section 2.1 hereof, the Clerk-Treasurer shall
retain such funds in the respective Allocation Funds to be used for the purposes permitted by the
Act.
Section 2.3. Notice of Deficiency. In the event that any semi-annual distribution
received by the Clerk-Treasurer shall be insufficient to make all of the deposits required by
Section 2.1 to pay all amounts due with respect to the 2010C COPs, the 2012 Bonds and the
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2005 Bonds on the immediately succeeding Payment Date for each such obligation, in
accordance with the schedules set forth in Exhibits B, C and D hereto, after taking into account
other revenues or funds contributed by the Commission for such purpose, the Clerk-Treasurer
shall within three (3) business days provide written notification to the Mayor and Common
Council of the City and to the Commission of such deficiency.
Section 2.4. Supplemental Reserve Fund. The City and the Commission hereby agree
(a) to take the legal steps necessary to amend the economic development plan for the Parkwood
Economic Development Area to make funding a supplemental reserve fund for the 2005 Bonds
and the 2012 Bonds a permitted use of tax increment revenues generated from that area, and (b) ,
to fund the supplemental reserve fund beginning in 2014 with all of such tax increment revenues
on an annual basis so long as the 2005 Bonds or the 2012 Bonds remain outstanding, until and
unless this Agreement is amended in accordance with the requirements of Section 3.5. This
agreement to fund a supplemental reserve fund shall hot run to the benefit of the holders of the
2005 Bonds or the 2012 Bonds and shall not be formally pledged to secure the 2005 Bonds or the
2012 Bonds, but rather shall serve as an additional protection against the potential levy of a
special benefits tax to pay the lease payments that fund debt service on the 2005 Bonds and the
2012 Bonds.
(End of Article II)
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ARTICLE III
MISCELLANEOUS '
Section 3.1. Governing Law. This Agreement is executed by the Parties and delivered
in the State and with reference to the laws thereof, and the rights of all Parties and the validity,
construction and effect of every provision hereof shall be subject to and construed according to
the laws of the State.
Section 3.2. Immunity of Officers, Directors, Members, Employees and Agents. No
recourse shall be had for any claim based upon any obligation in this Agreement against any
past, present or future official, officer, director, member, attorney, employee or agent of the
Parties, as such, under any rule of law or equity, statute or constitution.
Section 3.3. Counterparts. This Agreement may be executed in several counterparts,
each of which when so executed shall be deemed to be an original, and such counterparts, .
together, shall constitute but one and the same instrument, which shall be sufficiently evidenced
by any such original counterpart.
Section 3.4. Performance Due on Dav other than a Business Day. If the last day for
taking any action under this Agreement is not on a Business Day, such action may be taken on
the next succeeding Business Day and, if so taken, shall have the same effect as if taken on the
day required by this Agreement.
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Section 3.5. Amendments. This Agreement may be terminated, supplemented or
amended only upon the written agreement of the City and the Commission and only after
approvals of the Common Council of the City and the Commission.
Section 3.6. Entire Agreement. This Agreement shall constitute the entire agreement
of the Parties with respect to the subject matter, and shall supersede all prior oral or written
agreements with respect to the matters that are the subject hereof
Section 3.7. Interpretation of Conflicting Provisions. In the event there shall be a
conflict between any provision of the Transaction Documents and any provision of this
Agreement, the City and the Commission hereby agree that the provisions of such Transaction
Document shall be controlling, unless the terms of any of such Transaction Documents shall
expressly provide otherwise.
Section 3.8. Effective Date. This Agreement shall take effect immediately upon the
execution of a binding bond purchase agreement for the purchase and sale of the 2012 Bonds.
(End of Article III)
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IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed in
their names and on their behalf as of the date first written above.
CrfY OF CARMEL, INDIANA
By: _Lit
James Brainard, Mayor
Attest:
By: / /
Diana L. Cordray, Clerk-Treasurer @ @o
J
CITY OF CARMEL, INDIANA,
REDEVELOPMENT COMMISSION,as
governing body of the City of Carmel
Development District ,
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By: , �.�� s/1,‘,.,/llll/I�
lliam Hammer, •re�dent
Attest:
By:
Brad eyer, Secre a g
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EXHIBIT A
It
LIST OF ALLOCATION AREAS
Amended 126th Street Allocation Area
Amended 126`h Street Expansion Allocation Area
City Center Allocation Area
City Center Expansion Allocation Area
Hazel Dell North Allocation Area
Hazel Dell South Allocation Area
Illinois Street Allocation Area
Illinois Street Expansion Allocation Area 1
Amended Illinois Street Allocation Area
Old Meridian Allocation Area
Old Meridian Expansion Allocation Area
Meridian & Main Allocation Area(less developer portion) 1
Old Town Allocation Area !
Carmel Drive Allocation Area ;
Lauth-Walker Allocation Area
Old Town Shoppes Allocation Area F
Old Methodist Allocation Area
Lurie Allocation Area g�
Village of West Clay Allocation Area p
Merchants Pointe Allocation Area
116th Street Centre Allocation Area(less developer portion)
Cannel Downtown Allocation Area No. I (less developer portion)
Carmel Downtown Allocation Area No. 2 (less developer portion)
CRC Parcel #12 Allocation Area
is
A-1
EXHIBIT B
SCHEDULE OF 2010C COP PAYMENT OBLIGATIONS
{
[To be provided]
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B-1
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EXHIBIT B
OUTSTANDING AMORTIZATION OF CERTIFICATES OF PARTICIPATION,SERIES 20I0C
Dated November 12,2010
Payment Principal Interest Total Budget Year
Date Outstanding Principal Rate Interest Debt Service Debt Service
07/15/12 $ 6.300.000 $512.987.50 $512,987.50
01/15/13 6,300,000 $170,000 (I) 5.750% 512,987.50 682987.50 $1,195,975.00
07/15/13 6,130.000 175.000 (1) 5.750% 508,100.00 683,100.00
01/15/14 5,955,000 180,000 (I) 5.750% 503,068.75 683,068.75 1,366,168.75
07/15/14 5,775,000 185,000 (1) 5.750% 497,893.75 682,893.75
01J85/15 5,590,000 190.000 (I) 5.750% 492,575.00 682,575.00 1,365,468.75
07/15/15 5,400,000 195,000 (I) 5.750% 487,112.50 682,112.50
01/15/16 5,205,000 200,000 (1) 5.750% 481,506.25 681,506.25 1363,618.75
07/15/16 5,005,000 205.000 (I) 5.750% 475,756.25 680,756.25
01/15/17 4,800,000 210,000 (I) 5.750% 469,862.50 679,862.50 1,360,618.75
07/15/17 4,590,000 . 215,000 (I) 5.750% 463,825.00 678325.00
01/15/18 4.375,000 225.000 (I) 5.750% 457.643.75 682,643.75 1,361,468.75
07/15/18 4,150,000 230,000 (I) 5.750% 451,175.00 681,175.00
01/15/19 3,920,000 235,000 (I) 5.750% 444,562.50 679,562.50 1,360,737.50
07/15/19 3,685,000 245,000 (1) 5.750% 437,806.25 682,806.25
01/15/20 3,440.000 250,000 (I) 5.750% 430,762.50 680.762.50 1363,568.75
07/15/20 3,190,000 255,000 (I) 5.750% 423.575.00 678,575.00
01/15/21 2,935,000 265,000 (I) 5.750% 416,243.75 681,243.75 1359,818.75
07/15/21 2.670,000 270,000 (1) 5,750% 408,625.00 678,625.00
01/15122 2,400.000 280,000 (I) 5.750% 400,862.50 680,862.50 1,359,487.50
07/15/22 2,120,000 290,000 (1) 5•750% 392,812.50 682,812,50
01/15/23 1,830,000 295.000 (2) 6.500% 384,475.00 679.475.00 1,362,28730
07/15/23 1,535,000 305,000 (2) 6.500% 374,887.50 679,887.50
01/1524 1,230,000 315,000 (2) 6.500%' 364,975.00 679,97500 1,359,862.50
07/15/24 0,915,000 325,000 (2) 6.500% 354.737.50 679,737.50
01/15/25 0,590.000 335,000 (2) 6.500% 344175.00 679,175.00 1,358,912,50
07/1525 0,255,000 350,000 (2) 6.500% 333,287.50 683,287.50
01/15/26 9,905,000 360,000 (2) 6.500% 321,912.50 681,912.50 1,365,200.00
07/15/26 9,545.000 370,000 (2) 6.500% 310,212.50 680,212.50
01/15/27 9,175,000 385,000 (2) 6.500% 298,187.50 683,18750 1,363,400.00
07/15/27 8,790,000 395,000 (2) 6.500% 285,675.00 680,675.00
01/15/28 8,395,000 410,000 (2) 6.500% 272,837.50 682,837.50 1363,512.50
07/15/28 7.985,000 420,000 (2) 6.500% 259,512.50 679,512.50
01/15/29 7,565,000 435,000 (2) 6.500% 245,862.50 680,862.50 1,360,375.00
07/15/29 7,130.000 450,000 (2) 6.500% 231,725.00 681.725.00
01/15/30 6.680,000 465,000 (2) 6.500% 217,100.00 682.100.00 1,363,825.00
07/15/30 6,215,000 480,000 (2) 6.500% 201,987.50 681,987.50 j
01/15/31 5.735.000 495,000 (2) 6.500% 86,387.50 681,387.50 1363,375.00
07/15/31 5,240,000 510,000 (2) 6.500% 70,300.00 680,300.00
01/15/32 4,730.000 525,000 (2) 6.500% 53,725.00 678,725.00 1359,02500
07/15/32 4,205,000 545,000 (2) 6.500% 36,662.50 681,652.50 -
01/15/33 3,660,000 560,000 (2) 6.500% 18,950.00 678,950.00 1,360,612.50
07/15/33 3,100,000 580,000 (2) 6.500% 00,750.00 680,750.00
01/15/34 2,520.000 600.000 (2) 6.500% 81,900.00 681,900.00 1362,650.00
07/15/34 1,920,000 620,000 (2) 6.500% 62,400.00 682,400.00
01/15/35 1.300.000 640,000 (2) 6300% 42,250.00 682,250.00 1,364,650.00
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07/15/35 660,000 660,000 (2) 6.500% . 21,450.00 681,450.00 681,450.00
Totals $16,300,000 $15,546,068.75 $31,846,068.75 $31,846.068.75
(1)$4,470,000 of Term Certificates due July 15,2022.
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(2)$I 1,830,000 of Tenn Certificates due July 15.2035.
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EXHIBIT C
SCHEDULE OF 2012 BOND PAYMENT OBLIGATIONS
[To be provided]
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CITY OF CARMEL(INDIANA)REDEVELOPMENT AUTHORITY
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LEASE RENTAL PAYMENTS
Bond Lease Debt Service Lease Rentals
Payment Payment 2012B Bonds Budget.Year Budget Year
Date Date 2012A Bonds
(Taxable) Total Total Total Total
(I) (2)
08/01/13 07/15/13 $2,611,145.52 $813,262.21 $3,424,407.73 $3,430,000
02/01/14 01/15/14 2,196,290.63 1,684,052.33 3,880,342.96 $7,304,750.69 3,886,000 $7,316,000
08/01/14 07/15/14 2,196,290.63 2,416,012.33 4,612,302.96 4,618,000
02/01/15 01/15/15 2,196,290.63 2,420,017.90 4,616,308.53 9,228,611.49 4,622,000 9,240,000
08/01/15 07/15/15 2,196,290.63 2,778,317.10 4,974,607.73 4,980,000
02/01/16 01/15/16 2,196,290.63 2,779,739.95 4,976,030.58 9,950,638.31 4,982,000 9,962,000
08/01/16 07/15/16 2,196,290.63 3,330,655.75 5,526,946.38 5,532,000
02/01/17 01/15/17 2,196,290.63 3,332,389.75 5,528,680.38 11,055,626.76 5,534,000 11,066,000
08/01/17 07/15/17 2,196,290.63 3,426,381.45 5,622,672.08 5,628,000
02/01/18 01/15/18 2,196,290.63 3,424,018.50 5,620,309.13 11,242,981.21 5.626,000 11,254,000
08/01/18 07/15/18 2,196,290.63 3,660,857.70 5,857,148.33 5,863,000
02/01/19 01/15/19 2,196,290.63 3,660,285.95 5,856,576.58 11,713,724.91 5,862,000 11,725,000
08/01/19 07/15/19 2,196,290.63 3,847.926.15 6,044,216.78 6,050,000
02/01/20 01/15/20 2,196,290.63 3,847,838.25 6,044,128.88 12,088,345,66 6,050,000 12,100,000
08/01/20 07/15/20 2,196,290.63 3,999,605.25 6,195,895.88 6,201,000
02/01/21 01/1921 2,196,290.63 3,998,650.25 6,194,940.88 12,390,836.76 6,200,000 12,401,000
08/01/21 07/15/21 2,196,290.63 4,170,930.25 6,367,220.88 6,373,000
02/01/22 01/1522 2,196,290.63 4,175,064.00 6,371,354.63 12,738,575.51 6,377,000 12,750,000
08/01/22 07/15/22 2,196,290.63 4,382,251.50 6,578,542.13 6,584,000
02/01/23 01/15/23 2,196,290.63 4,380,639.50 6,576,930.13 13,155,472.26 6,582,000 13,166,000
08/01/23 07/1523 2,196,290.63 4,045,917.00 6,242,207.63 6,248,000
02/01/24 01/15/24 2,196,290.63 4,044,327.00 6,240,617.63 12,482,825.26 6,246,000 12,494,000
08/01/24 07/15/24 2,196,290.63 3,918,752.00 6,115,042.63 6,121,000
02/01/25 01/15/25 3,841,290.63 2,273,600.00 6.114,890.63 12,229,933.26 6,120,000 12,241,000 •
08/0125 07/1525 6,319,700.00 6,319,700.00 6,325,000
02/01/26 01/15/26 6,320,296.88 6,320,296.88 12,639,996.88 6,326,000 12,651,000
08/01/26 07/15/26 6,470,171.88 6,470,171.88 6,476,000 ,
02/01/27 01/15/27 6,472,356.25 6,472,356.25 12,942,528,13 . 6,478,000 12,954,000
08/01/27 07/15/27 6,428,637.50 6,428,637.50 6,434,000
02/01/28 01/1528 6,429,168.75 6,429,168.75 12,857,806,25 6,435,000 12,869,000
08/0128 07/1528 6,388,106.25 6,388,106.25 6,394,000
0710129 01/15/29 6,391,200.00 6,391,200.00 12,779,306.25 6,397,000 12,791,000
, 08/01/29 07/1529 5,226,700.00 5,226,700.00 5,232,000
02/01/30 01/15/30 5,223,600.00 5,223,600.00 10,450,300.00 5,229,000 10.461,000
08/01/30 07/15/30 4,664,100.00 4,664,100.00 4,670,000 •
02/01/31 01/15/31 4,664,300.00 4,664,300.00 9,328,400.00 4,670,000 9,340,000
08/01/31 07/15/31 4,663,200.00 4,663,200.00 4,669,000
02/01/32 01/15/32 4,660,800.00 4,660,800.00 9,324,000.00 4,666,000 9,335,000
08/01/32 07/15/32 4,562,100.00 4,562,100.00 4,568,000
02/01/33 01/15/33 4,559,000.00 4,559,000.00 9,121,100.00 4,564,000 9,132,000 ,
08/01/33 07/15/33 5,069,600.00 5,069,600.00 5,075,000
02/01/34 01/15/34 5,073,600.00 5,073,600.00 10,143,200.00 5,079,000 10,154.000
08/01/34 07/15/34 5,035,900.00 5,035,900.00 5,041,000
02/01/35 01/15/35 5,037,300.00 5,037,300.00 10,073,200.00 5,043,000 10 084,000
08/01/35 07/15/35 6,132,000.00 6,132.000.00 6,137,000
02/01/36 01/15/36 6,133,100.00 6,133,100.00 12,265,100.00 6,139.000 12,276,000
08/01/36 07/15/36 6,132,000.00 6,132,000.00 6,137,000
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07/01/37 01/18/57 6,133,700.00 6,133,700.00 12,265,700.00 6.139.000 12,276,000
08/01/37 07/15/37 6,133,100.00 6,133,100.00 • 6,139,000
02/01/38 01/1518 6,130,200.00 6,130,200.00 12,263,300.00 6,136,000 12,275,000
Totals $201,224,767.52 $80,811,492.07 $282,036,259.59 $282,036,259.59 $282,313,000 $282,313,000
EXHIBIT D
SCHEDULE OF 2005 BOND PAYMENT OBLIGATIONS
[To be provided]
fi
INDS0I BBINGHAM 1360678v7
D-1
EXHIBIT D
OUTSTANDING LEASE RENTAL PAYMENTS OF LEASE RENTAL REVENUE BONDS OF 2005
Dated December 21,2005
Bond (rase Debt Service Lease Rental
Payment Payment Current Interest Capital Appreciation Budget Year Budget Year
Date Date Bonds Bonds Total Total Total Total
8/1/2012 7/12012 31,295,000.00 $1,295,000.00 $2,600,000
2/1/2013 1/12013 1,295,000.00 52,605.000.00 3,900,000.00 $5,195,000,00 $5200000 2,600,000
8/1/2013 7/12013 1,295,000.00 1,295,000.00 2,745.000
2/12014 1/1/2014 1,295,000.00 2,895,000.00 4,190,000.00 5,485.000.00 5,490,000 2,745,000 •
8/12014 7/1/2014 1,295,000.00 1,295,000.00 2,887,500
2/1/2015 1/1/2015 1,295,000.00 3,180.000.00 4,475,000.00 5,770,000.00 5,775,000 2,887,500
8/1/2015 7/1/2015 1.295,000.00 1,295,000.00 3,027.500
2/1/2016 1/1/2016 1,295,000.00 3,460,000.00 4,755,000.00 6,050,000.00 6,055,000 3,027,500
8/12016 7/1/2016 1,295,000.00 1,295,000.00 3,162,500
2/12017 1/1/2017 1,295,000.00 3,730,000.00 5,025,000.00 6,320,000.00 6,325,000 3,162.503
8/12017 7/1/2017 1,295,000.00 1,295,000.00 3,290,000
2/1/2018 1/12018 1,295,000.00 3,985,000.00 5,280,000.00 6,575,000.00 6,580,000 3,290000
8/1/2018 7/1/2018 1,295.000.00 1295,000.00 3,417,500
2/1/2019 1/12019 1,295,000.00 4,240,000.00 5,535,000.00 6,830,000.00 6.835,000 3,417,500
8/1/2019 7/1/2019 1,295,100.00 1,295,000.00 . 4,032,500 ij
2/1/2020 1/12020 1,295,000,00 5,470,000.00 6,765,000.00 8,060,000.00 8,065,000 4,032,500 1
8/1/2020 7/1/2020 1,295,000.00 1.295,000.00 4,155,030
2/1/2021 1/12021 1,295,000.00 5,715,000.00 7,010,000.00 8,305,000.00 8,310,000 4,155.000 (,
8/12021 7/1/2021 1,295,000,00 1,295,000.00 4,280,000 X@
2/1/2022 1/12022 1,295,000.00 5,965,000.00 7260,000.00 8555,000.00 8,560,000 4,280,000 i
8/1/2022 7/1/2022 1,295,000.00 1,295.000.00 4,427500 !6{{
2/1/2023 1/1/2023 1,295,000.00 6,260,000.00 7,555,000.00 8,850,000.00 8,855,000 4,427,500
8/1/2023 7/1/2023 1,295,000.00 1,295,000.00 5,182.500
2/1/2024 1/1/2024 1,295,000.00 7,770,00000 9,065.000.00 10.360,000.00 10,365,000 5,182,500
8/1/2024 7/1/2024 1,295,000.00 1,295,000.00 5,702,500
2/1/2025 1/1/2025 1,295,000.00 8,810.00000 10,105,000.00 11,400,000.00 11,405,000 5,702,500 P
8112023 7/12025 1,295,000.00 1,295,000.00 5,732,500
2/12026 1/12026 7,365,000.00 2,800,00000 10,165,000.00 11,460.000.00 11.465.000 5.732,500
8/12026 7/1/2026 1,143,250.00 1,143,250.00 5,778500 E
2/12027 1/12027 10.408,250.00 10,408,250.00 11.551,500.00 11,557,000 5.778500 a
8/12027 7/1/2027 911.625.00 911,625.00 5.827,000
2/1/2028 1/12028 10,736,625.00 - 10,736,625.00 11.648,250.00 11,654.000 5827.000
8/1/2028 7/12028 666,000.00 666,000.00 5.873,500 4
1.
2/12029 1/12029 11,076,000.00 11,076000.00 11.742,000.00 11,747.000 5.873,500
8/12029 7/1/2029 405,750.00 405,750.00 2323,500
2/12030 1/1/2030 4,235,750.00 4,235.750.00 4,641,500.00 4,647.000 2,323,500
8/1/2030 7/1/2030 312,287.50 312,287.50 2,340,000
2/12031 1/1/2031 4.361287.50 4,362,287.50 4,674.575.00 4,680,000 2,340,000
8/1/2031 7/1/2031 213,600.00 213,600.00 . 2,351,500
2/12032 1/12032 4,483,600.00 4,483,600.00 4,697,200.00 4,703.000 2,351,500
8/1/2032 7/1/2032 109,687.50 109,687.50 2,352,500
2/1/2033 1/12033 4,589487.50 4,589,687.50 4,699,375.00 4,705.000 2.352,500
Totals $95,984,400.00 $66,885,000.00 $162,869,400.00 $162,869,400.00 $162,978,000 $162,978,000
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