City Council

CABOT SPECIAL CITY COUNCIL MEETING September 8, 2020 @ 6:30 p.m. Veterans’ Event Center 508 N Lincoln Street, Cabot AR 72023 Mayor Ken Kincade AGENDA 1. Call to order – Mayor Kincade 2. Opening Prayer 3. Pledge of Allegiance 4. Roll call 5. Read Ordinances & Resolutions By Title Only 1. Resolution No. 33 of 2020 – A Resolution Expressing The Willingness Of The City Of Cabot To Utilize Federal Aid Funds For Construction Of Central Elementary Sidewalks, Phase 2. 2. Resolution No. 34 of 2020 – A Resolution Authorizing The Mayor And City Clerk – Treasurer To Enter Into A Change Order Contract With Halff Associates, Inc. To Provide Geographic Information System Services To The City. 3. Resolution No. 35 of 2020 – A Resolution Preliminarily Authorizing The Issuance of Water And Wastewater Revenue Refunding Bonds; Prescribing Other Matters Pertaining Thereto; And For Other Purposes 7. Community Input 8. Adjournment This Page left Blank  Resolution No. 33 Of 2020 A Resolution Expressing The Willingness Of The City Of Cabot To Utilize Federal Aid Funds For Construction Of Central Elementary Sidewalks, Phase 2. "There Is No Limit To The Amount Of Good You Can Do, If You Don't Care Who Gets The Credit" ~Ronald Reagan 63 This Page left Blank This Page left Blank  Resolution No. 34 Of 2020 A Resolution Authorizing The Mayor And City Clerk – Treasurer To Enter Into A Change Order Contract With Halff Associates, Inc. To Provide Geographic Information System Services To The City. "There Is No Limit To The Amount Of Good You Can Do, If You Don't Care Who Gets The Credit" ~Ronald Reagan 63 This Page left Blank August 18, 2020 Mayor Ken Kincade City of Cabot 101 N. 2nd Street Cabot, AR 72023 RE: GIS Services Contract for City of Cabot Dear Mr. Kincade, HALFF Associates, Inc. (“Halff”) is pleased to submit the proposal for GIS Services to the City of Cabot, AR (“City”). The proposal herein will include the performance of professional services, as described below, related to the project described as GIS Services Contract for the City of Cabot. Compensation to be on a lump sum amount of $19,500.00 for Items 1 through 3. This amount includes all professional services and an estimate of expenses. Additional GIS services can be requested in writing. The hourly rate schedule is shown in the scope of work. Exhibit A of this document is the Scope of Services for the project consisting of 2 pages. Exhibit B of this document is a Standard Form of Agreement for Professional Services containing the General Terms and Conditions consisting of 3 pages. Sincerely, HALFF ASSOCIATES, INC. Brian L. Vines, PE Public Works Team Leader Attachments: EXHIBIT A –Scope of Services for GIS Service and Fee Schedule EXHIBIT B – Standard Terms and Conditions IN WITNESS WHEREOF, the parties, having read and understood this Agreement, have executed such in duplicate copies, each of which shall have full dignity and force as an original, on the _____ day of _______________________, 20___. HALFF ASSOCIATES, INC. CLIENT: CITY OF CABOT, ARKANSAS By: ______________________________ By: _______________________________ Signature Signature Brian L. Vines___________________ ________________________________ Printed Name Printed Name Public Works Team Leader_________ ________________________________ Title Title August 18, 2020_________________ ________________________________ Date Date  EXHIBIT A SCOPE OF SERVICES FOR GIS SEVICES ENGINEER: HALFF ASSOCIATES, INC. CLIENT: CITY OF CABOT ENGINEER agrees to perform the following GIS services for developing GIS database and deployment of GIS website for the City of Cabot, Lonoke County, Arkansas. DESIGN PHASE (ITEMS 1-3) 1. Prepare the following GIS layers for initial ESRI based file geodatabase (clipped five miles beyond the planning district boundary where possible: a. Cabot streets b. Storm water assets (to be gathered from newest aerial imagery: not surveyed) c. Third party generated existing GIS layers i. 2014 Land Use plan ii. Buildings iii. Cabot City Limits iv. Highway ROW v. County Boundary vi. Parcels vii. Railroad ROW viii. Streams ix. Zoning Districts x. Flood Plain boundaries xi. Fire hydrants xii. Depending on access the following layers: 1. Water (lines, valves) 2. Sewer (lines, manholes) xiii. Optional layers from statewide repository via REST services. 2. Develop enterprise GDB for web use, publish layers online, and configure web map. 3. Provide informal training (2 sessions for about 2 hours each) MAINTENANCE PHASE (ITEMS 4-6) 4. Hosting fees shall be $6000.00/year for 2021 (fee waived for 2020). 5. Provide necessary updates to database through work order requests. 6. Work with the city to determine plans for expanding web map to include community involvement. FEE SCHEDULE Design phase: For items 1-3 above: Total Fee Amount = $ 19, 500.00 (Lump Sum) Maintenance phase: For items 4-6 above: Total Fee Amount = $ 6,000.00/year hosting (beginning 2021) Work order cost varies per type and extent of work requested HOURLY RATE SCHEDULE Position Rate/Hour Project Manager $240 Senior Engineer $230 Senior GIS Analyst $110 GIS Analyst II $90 GIS Analyst I $75 Administrative Assistant $65  Exhibit B – Standard Terms and Conditions This Agreement for Professional Engineering Services, hereinafter called “Agreement,” is entered into by the City of Cabot a Municipal Corporation of the State of Arkansas, hereinafter referred to as “Client”, duly authorized to act by the City Council of said Client, and HALFF ASSOCIATES, INC., a Texas corporation, acting through a duly authorized officer, herein called “Engineer,” relative to Engineer providing professional engineering services to the Client. Client and Engineer when mentioned collectively shall be referred to as the “Parties”. W I T N E S S E T H: For the mutual promises and benefits herein described, the Client and Engineer agree as follows: I. Term of Agreement. This Agreement shall become effective on the date of its execution by both Parties, and shall continue in effect thereafter until terminated as provided herein. II. Services to be Performed by Engineer. Engineer shall provide to the Client basic engineering services as described in the scope of services attachment and fully incorporated herein as “Exhibit A” which services may include, but will not be limited to, those services normally rendered by an engineer to a Municipal Corporation. Engineer shall perform its obligations under this agreement as an independent contractor and not as an agent or fiduciary of any other party. III. Compensation - Client agrees to pay monthly invoices or their undisputed portions within 30 days of receipt. Payment later than 30 days shall include interest at 1 percent (1%) per month or lesser maximum enforceable interest rate, from the date the Client received the invoice until the date Engineer receives payment. Such interest is due and payable when the overdue payment is made. It is understood and agreed by the Parties that Engineer’s receipt of payment(s) from Client is not contingent upon Client’s receipt of payment, funding, reimbursement or any other remuneration from others. Time-related charges will be billed as specified in this Agreement. Unless stated otherwise in this Agreement, direct expenses, subcontracted services and direct costs will be billed at actual cost plus a service charge of 10 percent. Mileage will be billed at current IRS rates. IV. Client’s Obligations. The Client agrees that it will (i) designate a specific person to act as the Client’s representative, (ii) provide Engineer with any previous studies, reports, data, budget constraints, special Client requirements, or other pertinent information known to the Client, when necessitated by a project, (iii) Client agrees to provide site access, and to provide those services described in the attached Scope of Services assist Engineer in obtaining access to property necessary for performance of Engineer’s work for the Client, (iv) make prompt payments in response to Engineer’s statements and (v) respond in a timely fashion to requests from Engineer. Engineer is entitled to rely upon and use, without independent verification and without liability, all information and services provided by the Client or the Client’s representatives. V. Termination of Work - Either the Client or the Engineer may terminate this Agreement at any time with or without cause upon giving the other Party ten (10) calendar days’ prior written notice. Client agrees that termination of Engineer for Client’s convenience shall only be utilized in good faith, and shall not be utilized if either the purpose or the result of such termination is the performance of all or part of Engineer’s services under this Agreement by Client or by another service provider. Following Engineer’s receipt of such termination notice the Client shall, within ten (10) calendar days of Client’s receipt of Engineer’s final invoice, pay the Engineer for all services rendered and all costs incurred up to the date of Engineer’s receipt of such notice of termination. VI. Ownership of Documents - Upon Engineer’s completion of services and receipt of payment in full, Engineer shall grant to Client a non-exclusive license to possess the final drawings and instruments produced in connection with Engineer’s performance of the work under this Agreement, if any. Said drawings and instruments may be copied, duplicated, reproduced and used by Client for the purpose of constructing, operating and maintaining the improvements. Client agrees that such documents are not intended or represented to be suitable for reuse by Client or others for purposes outside the Scope of Services of this Agreement. Notwithstanding the foregoing, Client understands and agrees that any and all computer programs, GIS applications, proprietary data or processes, and certain other items related to the services performable under this Agreement are and shall remain the sole and exclusive property of Engineer and may not be used or reused, in any form, by Client without the express written authorization of Engineer. Client agrees that any reuse by Client, or by those who obtain said information from or through Client, without written verification or adaptation by Engineer, will be at Client’s sole risk and without liability or legal exposure to Engineer or to Engineer’s employees, agents, representatives, officers, directors, affiliates, shareholders, owners, members, managers, attorneys, subsidiary entities, advisors, subconsultants or independent contractors or associates. Engineer may reuse all drawings, reports, data and other information developed in performing the services described by this Agreement in Engineer’s other activities. VII. Notices. Any notices to be given hereunder by either party to the other may be affected either by personal delivery, in writing, or by registered or certified mail. Agreement For Professional Services (Public Client-Scope of Services) - Page 1 of 3 _____________/________________ Revised 05 August 2020 Client Initial / Date VIII. Sole Parties and Entire Agreement. This Agreement shall not create any rights or benefits to anyone except the Client and Engineer, and contains the entire agreement between the parties. Oral modifications to this Agreement shall have no force or effect. IX. Insurance. Engineer shall, at its own expense, purchase, maintain and keep in force throughout the duration of this Agreement and for a period of four (4) years thereafter, professional liability insurance. The limits of liability shall be $1,000,000 per claim and in the aggregate. Engineer shall submit to the Client a certificate of insurance prior to commencing any work for the Client. X. Prompt Performance by Engineer. All services provided by Engineer hereunder shall be performed in accordance with the degree of care and skill ordinarily exercised under similar circumstances by competent members of the engineering profession in the State of Texas applicable to such engineering services contemplated by this Agreement. XI. Client Objection to Personnel. If at any time after entering into this Agreement, the Client has any reasonable objection to any of Engineer’s personnel, or any personnel, professionals and/or consultants retained by Engineer, Engineer shall promptly propose substitutes to whom the Client has no reasonable objection, and Engineer’s compensation shall be equitably adjusted to reflect any difference in Engineer’s costs occasioned by such substitution. XII. Assignment and Delegation. Neither the Client nor Engineer may assign their rights or delegate their duties without the written consent of the other party. This Agreement is binding on the Client and Engineer to the fullest extent permitted by law. Nothing herein is to be construed as creating any personal liability on the part of any Client officer, employee or agent. XIII. Jurisdiction and Venue - This Agreement shall be administered under the substantive laws of the State of Arkansas (and not its conflicts of law principles) which shall be used to govern all matters arising out of, or relating to, this Agreement and all of the transactions it contemplates, including without limitation, its validity, interpretation, construction, performance and enforcement. Exclusive venue shall lie in any court of competent jurisdiction in Lonoke County, Arkansas. XIV. Integration, Merger and Severability – This Agreement and the Scope of Services, including fee and schedule are fully incorporated herein and represent the entire understanding of Client and Engineer. No prior oral or written understanding shall be of any force or effect with respect to those matters covered herein. The Agreement may not be modified or altered except in writing signed by both Parties. This Agreement constitutes, represents and is intended by the Parties to be the complete and final statement and expression of all of the terms and arrangements between the Parties to this Agreement with respect to the matters provided for in this Agreement. This Agreement supersedes any and all prior or contemporaneous agreements, understandings, negotiations, and discussions between the Parties and all such matters are merged into this Agreement. Should any one or more of the provisions contained in this Agreement be determined by a court of competent jurisdiction or by legislative pronouncement to be void, invalid, illegal, or unenforceable in any respect, such voiding, invalidity, illegality, or unenforceability shall not affect any other provision hereof, and this Agreement shall be considered as if the entirety of such void, invalid, illegal, or unenforceable provision had never been contained in this Agreement. XV. Exclusivity of Remedies – The Parties acknowledge and agree that the remedies set forth in this Agreement. Agreed Remedies are and shall remain the Parties’ sole and exclusive remedy with respect to any claim arising from, or out of, or related to, the subject matter of this Agreement. The Parties agree that Engineer is to have no liability or responsibility whatsoever to Client for any claim(s) or loss(es) of any nature, except as set forth in this Agreement. No Party shall be able to avoid the limitations expressly set forth in this Agreement by electing to pursue some other remedy. XVI. Timeliness of Performance - Engineer shall perform its professional services with due and reasonable diligence consistent with sound professional practices. XVII. Dispute Resolution. In the event of any disagreement or conflict concerning the interpretation of this Agreement, and such disagreement cannot be resolved by the signatories hereto, the signatories agree to schedule a series of no less than two meetings of senior personnel of Client and Engineer in which the disagreement or conflict will be discussed. The first of such meetings will be scheduled as soon as possible following identification of such disagreement or conflict and the second meeting must occur within thirty (30) days following the initial meeting. Subsequent meetings, if any may be scheduled upon mutual agreement of the parties. The parties agree that these two meetings are conditions precedent to the institution of legal proceedings unless such meetings will adversely affect the rights of one or more of the parties as such rights relate to statutes of limitation or repose. XVIII. Signatories. The Client and Engineer mutually warrant and represent that the representation of each who is executing this Agreement on behalf of the Client or Engineer, respectively, has full authority to execute this Agreement and bind the entity so represented. Agreement For Professional Services (Public Client-Scope of Services) - Page 2 of 3 _____________/________________ Revised 05 August 2020 Client Initial / Date XIX. PROJECT ENHANCEMENT/BETTERMENT. IF A COMPONENT OF THE CLIENT’S PROJECT IS OMITTED FROM THE ENGINEER’S CONTRACT DOCUMENTS DUE TO THE BREACH OF CONTRACT OR NEGLIGENCE OF THE ENGINEER, THE ENGINEER WILL NOT BE LIABLE TO THE CLIENT TO THE EXTENT OF ANY BETTERMENT OR ADDED VALUE TO THE PROJECT. SPECIFICALLY, THE CLIENT WILL BE RESPONSIBLE FOR THE AMOUNT IT WOULD HAVE PAID TO THE CONSTRUCTION CONTRACTOR (OR SUPPLIER OR SUBCONTRACTOR OR OTHER) FOR THE COMPONENT AS IF SUCH HAD BEEN INCLUDED IN THE ENGINEER’S CONTRACT DOCUMENTS. NOTWITHSTANDING THE FOREGOING, THE ENGINEER WILL BE RESPONSIBLE, TO THE EXTENT REASONABLE AND NECESSARY TO PLACE CLIENT IN THE SAME POSITION IT WOULD HAVE BEEN BUT FOR SUCH BREACH OR NEGLIGENCE, FOR THE REASONABLE (I) RETROFIT EXPENSE, (II) WASTE, OR (II) INTERVENING INCREASE IN THE COST OF THE COMPONENT FURNISHED THROUGH A CHANGE ORDER FROM THE CONTRACTOR. TO THE EXTENT THAT CONTRACTOR PROVIDED UNIT PRICING THE CLIENT UNDERSTANDS AND AGREES THAT THE ISSUE OF INTERVENING UNIT COST INCREASES WOULD ONLY BE APPLICABLE TO NEWLY IDENTIFIED ITEMS, NOT INCREASES IN QUANTITY OF EXISTING ITEMS. IF IT IS NECESSARY TO REPLACE A COMPONENT OF THE PROJECT DUE TO THE BREACH OF CONTRACT OR NEGLIGENCE OF THE ENGINEER, THE ENGINEER WILL NOT BE LIABLE TO THE CLIENT FOR THE ENHANCEMENT OR UPGRADE OF THE COMPONENT BEYOND THAT ORIGINALLY INCLUDED IN THE CONTRACT DOCUMENTS. IN ADDITION, IF THE COMPONENT HAS AN IDENTIFIABLE USEFUL LIFE THAT IS LESS THAN THE SYSTEM/STRUCTURE/IMPROVEMENT ITSELF, THE DAMAGES OF THE OWNER SHALL BE REDUCED TO THE EXTENT THAT THE USEFUL LIFE OF THE COMPONENT WILL BE EXTENDED BY THE REPLACEMENT THEREOF. XX. AGREED REMEDIES A. IT IS THE INTENT OF THE PARTIES TO THIS AGREEMENT THAT ENGINEER'S SERVICES UNDER THIS AGREEMENT SHALL NOT SUBJECT ENGINEER'S INDIVIDUAL EMPLOYEES, OFFICERS OR DIRECTORS TO ANY PERSONAL LEGAL EXPOSURE FOR CLAIMS AND RISKS ASSOCIATED WITH THE SERVICES PERFORMED OR PERFORMABLE UNDER THIS AGREEMENT. B. IN RECOGNITION OF THE RELATIVE RISKS AND BENEFITS OF THE PROJECT TO BOTH THE CLIENT AND THE ENGINEER, AND ACKNOWLEDGING THAT THE ALLOCATION OF RISKS AND LIMITATIONS OF REMEDIES ARE BUSINESS UNDERSTANDINGS BETWEEN THE PARTIES AND THESE RISKS AND REMEDIES SHALL APPLY TO ALL POSSIBLE LEGAL THEORIES OF RECOVERY. CLIENT FURTHER AGREES, TO THE FULLEST EXTENT PERMITTED BY LAW, AND NOTWITHSTANDING ANY OTHER PROVISIONS OF THIS AGREEMENT OR ANY REFERENCE TO INSURANCE OR THE EXISTENCE OF APPLICABLE INSURANCE COVERAGE, THAT THE TOTAL LIABILITY, IN THE AGGREGATE, OF THE ENGINEER AND ENGINEER'S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND SUBCONSULTANTS TO THE CLIENT OR TO ANYONE CLAIMING BY, THROUGH OR UNDER THE CLIENT, FOR ANY AND ALL CLAIMS, LOSSES, COSTS OR DAMAGES WHATSOEVER ARISING OUT OF, RESULTING FROM, OR IN ANY WAY RELATED TO, THE SERVICES UNDER THIS AGREEMENT FROM ANY CAUSE OR CAUSES OF THE ENGINEER OR THE ENGINEER'S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND SUBCONSULTANTS, SHALL NOT EXCEED THE ENGINEER'S FEE FOR THE SERVICES PERFORMED UNDER THIS AGREEMENT OR $50,000, WHICHEVER IS GREATER. INCREASED LIMITS MAY BE NEGOTIATED FOR ADDITIONAL FEE. C. NOTWITHSTANDING ANY OTHER PROVISION OF THE AGREEMENT, ENGINEER SHALL HAVE NO LIABILITY TO THE CLIENT FOR CONTINGENT, CONSEQUENTIAL OR OTHER INDIRECT DAMAGES INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF USE, REVENUE OR PROFIT; OPERATING COSTS AND FACILITY DOWNTIME; OR OTHER SIMILAR BUSINESS INTERRUPTION LOSSES, HOWEVER, THE SAME MAY BE CAUSED. D. CLIENT MAY NOT ASSERT ANY CLAIM AGAINST ENGINEER AFTER THE SHORTER OF (1) 3 YEARS FROM SUBSTANTIAL COMPLETION OF SERVICES GIVING RISE TO THE CLAIM, OR (2) THE STATUTE OF LIMITATION PROVIDED BY LAW. E. IT IS UNDERSTOOD AND AGREED BY BOTH PARTIES TO THIS AGREEMENT THAT THE FIRST TEN DOLLARS ($10.00) OF REMUNERATION PAID TO ENGINEER UNDER THIS AGREEMENT SHALL BE IN CONSIDERATION FOR INDEMNITY/INDEMNIFICATION PROVIDED FOR IN THIS AGREEMENT. XXI. WAIVER - Any failure by Engineer to require strict compliance with any provision of this Agreement shall not be construed as a waiver of such provision, and Engineer may subsequently require strict compliance at any time, notwithstanding any prior failure to do so. Agreement For Professional Services (Public Client-Scope of Services) - Page 3 of 3 _____________/________________ Revised 05 August 2020 Client Initial / Date  Resolution No. 35 Of 2020 A Resolution Preliminarily Authorizing The Issuance of Water And Wastewater Revenue Refunding Bonds; Prescribing Other Matters Pertaining Thereto; And For Other Purposes "There Is No Limit To The Amount Of Good You Can Do, If You Don't Care Who Gets The Credit" ~Ronald Reagan 63 This Page left Blank  ANRC Proposed Refinance of Cabot Loans Existing 2001 Loan $278,454 Proposed 2001 Loan Refinance Loan Amount: $ 278,453.61 Revised Bond Amount 117,656.00 Current Balance: 117,656.00 Service Fee: 0.00% Amortization Type: Semi Annual Interest Rate: 4.50% Interest Rate: 2.10% Total Debt Remaining Payment Interest 0.00% Total Debt Remaining Service Balance Date Payment Service Fee Service Balance Period 06-1-2020 117,656.00 06-1-2020 117,656.00 1 12-1-2020 9,163.00 111,140.00 12-1-2020 1,235.39 - 8,026.93 110,864.46 2 06-1-2021 9,163.00 104,478.00 06-1-2021 1,164.08 - 8,026.93 104,001.60 3 12-1-2021 9,163.00 97,666.00 12-1-2021 1,092.02 - 8,026.93 97,066.69 4 06-1-2022 9,163.00 90,700.00 06-1-2022 1,019.20 - 8,026.93 90,058.96 5 12-1-2022 9,163.00 83,578.00 12-1-2022 945.62 - 8,026.93 82,977.65 6 06-1-2023 9,163.00 76,296.00 06-1-2023 871.27 - 8,026.93 75,821.99 7 12-1-2023 9,163.00 68,850.00 12-1-2023 796.13 - 8,026.93 68,591.19 8 06-1-2024 9,163.00 61,236.00 06-1-2024 720.21 - 8,026.93 61,284.47 9 12-1-2024 9,163.00 53,451.00 12-1-2024 643.49 - 8,026.93 53,901.02 10 06-1-2025 9,163.00 45,491.00 06-1-2025 565.96 - 8,026.93 46,440.05 11 12-1-2025 9,163.00 37,352.00 12-1-2025 487.62 - 8,026.93 38,900.74 12 06-1-2026 9,163.00 29,029.00 06-1-2026 408.46 - 8,026.93 31,282.27 13 12-1-2026 9,163.00 20,519.00 12-1-2026 328.46 - 8,026.93 23,583.81 14 06-1-2027 9,163.00 11,818.00 06-1-2027 247.63 - 8,026.93 15,804.51 15 12-1-2027 9,163.00 2,921.00 12-1-2027 165.95 - 8,026.93 7,943.52 16 06-1-2028 2,987.00 - 06-1-2028 83.41 - 8,026.93 0.00 TOTALS 140,432.00 128,430.88 Net Savings in Debt Service 12,001.12 Existing 2005 Loan $8,000,000 Proposed 2005 Loan Refinance Loan Amount: 8,000,000.00 Loan Date: 01/13/2005 Revised Bond Amount 3,182,579.94 As of: 4/15/2020 Current Balance: 3,182,579.94 Interest Rate: 2.2500% Service Fee: 1.00% Amortization Type: Semi Annual Service Fee Rate: 1.00% Interest Rate: 0.00% Payment Interest 1.00% Total Debt Remaining Total Debt Remaining Date Payment Service Fee Service Balance Period Service Balance 4/15/2020 3,182,579.94 1 10/15/2020 273,557.46 2,960,739.40 10/15/2020 - 15,912.90 253,467.79 2,945,025.05 2 04/15/2021 273,557.46 2,735,293.96 4/15/2021 - 14,725.13 253,467.79 2,706,282.39 3 10/15/2021 273,557.46 2,506,185.03 10/15/2021 - 13,531.41 253,467.79 2,466,346.01 4 04/15/2022 273,557.46 2,273,353.08 4/15/2022 - 12,331.73 253,467.79 2,225,209.95 5 10/15/2022 273,557.46 2,036,737.61 10/15/2022 - 11,126.05 253,467.79 1,982,868.21 6 04/15/2023 273,557.46 1,796,277.14 4/15/2023 - 9,914.34 253,467.79 1,739,314.76 7 10/15/2023 273,557.46 1,551,909.19 10/15/2023 - 8,696.57 253,467.79 1,494,543.54 8 04/15/2024 273,557.46 1,303,570.26 4/15/2024 - 7,472.72 253,467.79 1,248,548.47 9 10/15/2024 273,557.46 1,051,195.82 10/15/2024 - 6,242.74 253,467.79 1,001,323.42 10 04/15/2025 273,557.46 794,720.29 4/15/2025 - 5,006.62 253,467.79 752,862.25 11 10/15/2025 273,557.46 534,077.03 10/15/2025 - 3,764.31 253,467.79 503,158.77 12 04/15/2026 273,557.46 269,198.33 4/15/2026 - 2,515.79 253,467.79 252,206.77 13 10/15/2026 273,557.46 15.34 10/15/2026 - 1,261.03 253,467.79 0.00 Totals 3,556,246.98 0.00 112,501.34 3,295,081.27 Net Savings in Debt Service 261,165.71 Existing 2007 Loan $7,091,943 Proposed 2007 Loan Refinance Loan Amount: 7,091,943.00 Loan Date: 11/29/2007 Revised Bond Amount $4,363,629.14 As of: 4/15/2020 Current Balance: 4,363,629.14 Interest Rate: 1.7500% Service Fee: 1.00% Amortization Type: Semi Annual Service Fee Rate: 1.00% Interest Rate: 0.00% Total Debt Remaining Payment Interest 1.00% Total Debt Remaining Service Balance Date Payment Service Fee Service Balance Period 4/15/2020 4,363,629.14 1 10/15/2020 262,532.22 4,161,096.82 10/15/2020 - 21,818.15 241,319.72 4,144,127.57 2 04/15/2021 262,532.22 3,955,779.69 4/15/2021 - 20,720.64 241,319.72 3,923,528.49 3 10/15/2021 262,532.22 3,747,639.44 10/15/2021 - 19,617.64 241,319.72 3,701,826.41 4 04/15/2022 262,532.22 3,536,637.27 4/15/2022 - 18,509.13 241,319.72 3,479,015.82 5 10/15/2022 262,532.22 3,322,733.82 10/15/2022 - 17,395.08 241,319.72 3,255,091.18 6 04/15/2023 262,532.22 3,105,889.19 4/15/2023 - 16,275.46 241,319.72 3,030,046.92 7 10/15/2023 262,532.22 2,886,062.95 10/15/2023 - 15,150.23 241,319.72 2,803,877.43 8 04/15/2024 262,532.22 2,663,214.10 4/15/2024 - 14,019.39 241,319.72 2,576,577.10 9 10/15/2024 262,532.22 2,437,301.07 10/15/2024 - 12,882.89 241,319.72 2,348,140.27 10 04/15/2025 262,532.22 2,208,281.74 4/15/2025 - 11,740.70 241,319.72 2,118,561.25 11 10/15/2025 262,532.22 1,976,113.40 10/15/2025 - 10,592.81 241,319.72 1,887,834.34 12 04/15/2026 262,532.22 1,740,752.74 4/15/2026 - 9,439.17 241,319.72 1,655,953.79 13 10/15/2026 262,532.22 1,502,155.88 10/15/2026 - 8,279.77 241,319.72 1,422,913.84 14 04/15/2027 262,532.22 1,260,278.30 4/15/2027 - 7,114.57 241,319.72 1,188,708.69 15 10/15/2027 262,532.22 1,015,074.91 10/15/2027 - 5,943.54 241,319.72 953,332.51 16 04/15/2028 262,532.22 766,499.98 4/15/2028 - 4,766.66 241,319.72 716,779.45 17 10/15/2028 262,532.22 514,507.13 10/15/2028 - 3,583.90 241,319.72 479,043.63 18 04/15/2029 262,532.22 259,049.39 4/15/2029 - 2,395.22 241,319.72 240,119.13 19 10/15/2029 262,611.31 0.01 10/15/2029 - 1,200.60 241,319.72 0.00 Totals 4,988,191.27 0.00 221,445.55 4,585,074.68 Net Savings in Debt Service 403,116.59 Total Proposed Savings 676,283.42