Berkeley Heights Swap Cost and Bonds- CFO Report

Here is a presentation given by the Berkeley Heights CFO presentation-pdf

It contains the cost and bonding structure of the SWAP:

SCENARIO #1 ASSUMPTIONS:

What is the Township’s Estimated Net Project Cost? u Net Cost of Land Purchase + Cost of Construction – Sale of Land

Net Cost of Land Purchase
Estimated Cost of Park Ave Municipal Complex u Estimated Hamilton Ave Sale Price

Estimated Net Project Cost:

$ 2,845,000 +  $27,234,000 – ($10,000,000) = $ 20,079,000

Bond Anticipation Notes

Estimated Net Project Cost

20,079,000

Estimated Interest Rate

0.65%

Estimated Useful Life of Ord.

30 Years

Estimated Minimum Pay Down

340,322

*

Year

Balance

Principal

Interest

Total

2016

20,079,000

130,514

130,514

2017

19,729,000

350,000

128,239

478,239

2018

19,379,000

350,000

125,964

475,964

2019

18,654,000

725,000

*

121,251

846,251

2020

17,554,000

1,100,000

114,101

1,214,101

2021

16,429,000

1,125,000

106,789

1,231,789

2022

15,304,000

1,125,000

99,476

1,224,476

SCENARIO #1 ASSUMPTIONS:

u Serial Bonds

Total Debt Authorized

15,304,000

Estimated Interest Rate

3.75%

Year

Balance

Maturity

Interest

Total

2023

15,304,000

600,000

573,900

1,173,900

2024

14,704,000

600,000

551,400

1,151,400

2025

14,104,000

625,000

528,900

1,153,900

2026

13,479,000

625,000

505,463

1,130,463

2027

12,854,000

650,000

482,025

1,132,025

2028

12,204,000

650,000

457,650

1,107,650

2029

11,554,000

675,000

433,275

1,108,275

2030

10,879,000

700,000

407,963

1,107,963

2031

10,179,000

700,000

381,713

1,081,713

2032

9,479,000

725,000

355,463

1,080,463

2033

8,754,000

750,000

328,275

1,078,275

2034

8,004,000

750,000

300,150

1,050,150

2035

7,254,000

800,000

272,025

1,072,025

2036

6,454,000

850,000

242,025

1,092,025

2037

5,604,000

875,000

210,150

1,085,150

2038

4,729,000

900,000

177,338

1,077,338

2039

3,829,000

925,000

144,471

1,069,471

2040

2,904,000

950,000

108,900

1,058,900

2041

1,954,000

975,000

73,275

1,048,275

2042

979,000

979,000

36,713

1,015,713