Capital Projects Fund$2,419,845.73 Design Fees$ 189,756.89 TOTAL: $2,609,602.62 Available Funds:

Capital Projects FundCapital Projects Fund$2,419,845.73$2,419,845.73

Design FeesDesign Fees $ 189,756.89$ 189,756.89TOTAL: $2,609,602.62

Available FundsAvailable Funds::

Happy Hollow Task ForceHappy Hollow Task ForceFunding PresentationFunding Presentation

Assessed Valuation 2003 pay 2004Assessed Valuation 2003 pay 2004 $895,916,645$895,916,645

Ability To IssueAbility To Issue

General Obligation BondsGeneral Obligation Bonds $6,002,640$6,002,640

Holding Corporation BondsHolding Corporation Bonds

No LimitNo Limit

General Obligation BondsGeneral Obligation Bonds Remonstrance Petitions if above Remonstrance Petitions if above 2,000,0002,000,000 may be reduced by approximately may be reduced by approximately $350,000$350,000 for Taxable Severance Bond. for Taxable Severance Bond.

Holding Corporation BondsHolding Corporation Bonds

Bonds sold to pay for Interest during Bonds sold to pay for Interest during Construction. Construction.

Same Remonstrance Process.Same Remonstrance Process. Holding Corporation sells bonds, leases Holding Corporation sells bonds, leases building.building. Holding Corporation pays bond interest while Holding Corporation pays bond interest while building construction takes place. building construction takes place.

Lease starts after construction is complete.Lease starts after construction is complete.

Variable Cost ForVariable Cost ForProject BudgetsProject Budgets

Type of Construction:Type of Construction:

Construction Manager or General ContractorsConstruction Manager or General Contractors

Determination of Common Construction Wage

Professional FeesProfessional Fees

AttorneysArchitectsConstruction Managers

Bond Sale ProcessBond Sale Process

Pay Underwriter Fees in Advance?Pay Underwriter Fees in Advance? Bond Ratings and Bond Insurance?Bond Ratings and Bond Insurance? Negotiated Sale vs. Competitive Negotiated Sale vs. Competitive

Bidding?Bidding? Financial Advisor?Financial Advisor?

Use of Funds on HandUse of Funds on Hand

Pay Professional Fees as Pay Professional Fees as earned vs. after sale of bonds?earned vs. after sale of bonds?

Exterior Renovations?Exterior Renovations? Sequence of Construction and Sequence of Construction and

possible temporary student possible temporary student quarters?quarters?

Interest During ConstructionInterest During Construction

Length of Construction project Length of Construction project determines cost.determines cost.

Payouts for billing determines Payouts for billing determines interest income.interest income.

Maintenance ProjectMaintenance Project

Smaller Dollars.Smaller Dollars. No Change to Facility.No Change to Facility. Update existing components.Update existing components.

Larger and more ComprehensiveLarger and more Comprehensive..

Capital ProjectCapital Project

School Debt OptionsSchool Debt Options

Happy Hollow ElementaryHappy Hollow Elementary

Construction CostConstruction Cost $ 9,008,392 $ 9,008,392 Bond IssueBond Issue $12,221,000 $12,221,000

Option H-2 - Low CostOption H-2 - Low Cost

Option H-2 - Low Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $ 88.52 $ 88.52 $ $ 123.70123.70

Construction CostConstruction Cost $10,365,480 $10,365,480 Bond IssueBond Issue $13,769,000 $13,769,000

Option H-2 – Middle CostOption H-2 – Middle Cost

Option H-2 - Middle Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $ 99.73 $ 99.73 $ $ 139.37139.37

Construction CostConstruction Cost $11,722,569 $11,722,569 Bond IssueBond Issue $15,315,000 $15,315,000

Option H-2 – High CostOption H-2 – High Cost

Option H-2 - High Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $110.93 $110.93 $ $ 155.02155.02

Construction CostConstruction Cost $12,061,679 $12,061,679 Bond IssueBond Issue $15,737,000 $15,737,000

Option H-4 – Low CostOption H-4 – Low Cost

Option H-4 - Low Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $113.98 $113.98 $ $ 159.29159.29

Construction CostConstruction Cost $13,468,770 $13,468,770 Bond IssueBond Issue $17,477,000 $17,477,000

Option H-4 – Middle CostOption H-4 – Middle Cost

Option H-4 - Middle Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $126.58 $126.58 $ $ 176.90176.90

Construction CostConstruction Cost $14,875,861 $14,875,861 Bond IssueBond Issue $19,317,000 $19,317,000

Option H-4 – High CostOption H-4 – High Cost

Option H-4 - High Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $139.91 $139.91 $ $ 195.52195.52

Construction CostConstruction Cost $11,536,529 $11,536,529 Bond IssueBond Issue $15,238,000 $15,238,000

Option B-6 – Low CostOption B-6 – Low Cost

Option B-6 - Low Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $110.37 $110.37 $ $ 154.24154.24

Construction CostConstruction Cost $13,699,945 $13,699,945 Bond IssueBond Issue $17,733,000 $17,733,000

Option B-6 – Middle CostOption B-6 – Middle Cost

Option B-6 - Middle Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $128.44 $128.44 $ $ 179.49179.49

Construction CostConstruction Cost $14,803,361 $14,803,361 Bond IssueBond Issue $19,230,000 $19,230,000

Option B-6 – High CostOption B-6 – High Cost

Option B-6 - High Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $139.28 $139.28 $ $ 194.64194.64

Construction CostConstruction Cost $11,265,455 $11,265,455 Bond IssueBond Issue $14,832,000 $14,832,000

Option B-4 – Low CostOption B-4 – Low Cost

Option B-4 - Low Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $107.44 $107.44 $ $ 150.14150.14

Construction CostConstruction Cost $12,712,331 $12,712,331 Bond IssueBond Issue $16,567,000 $16,567,000

Option B-4 – Middle CostOption B-4 – Middle Cost

Option B-4 - Middle Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $119.99 $119.99 $ $ 167.69167.69

Construction CostConstruction Cost $14,159,208 $14,159,208 Bond IssueBond Issue $18,302,000 $18,302,000

Option B-4 – High CostOption B-4 – High Cost

Option B-4 - High Cost- Sample Tax Burden

Homeowner Non-Homeowner Non-HomeownerHomeowner

OccupiedOccupied OccupiedOccupied

Median Home AvMedian Home Av $95,600 $95,600 $133,600$133,600Year 1Year 1 $132.61 $132.61 $ $ 185.32185.32