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SUBJECT: Financing Of Improvements To Certain Buildings And Structures <br />Of The Indian River County Board of County Commissioners <br />Facilities to be Improved <br />Certain buildings and supporting facilities, formerly the <br />property of the Indian River County.Schgcr} Board, are now the property <br />of the Indian River County Board of County Commissioners. Such facilities <br />require modification, rehabilitation and improvements for use as ad- <br />ministrative offices. <br />Cost of Improvements <br />-While definitive estimates of the cost of the improvements <br />have not been developed, representatives of the County advise that for <br />preliminary financial planning purposes -the cost will be between <br />$3,500,000 and $4,000,000. Assuming that these sums will include bond <br />issuance costs and provision for a debt service reserve the approximate <br />debt payment schedules for 20, 25 and 30 years at various interest rates <br />are as follows: <br />Length of Bond Issue Average Annual Payments <br />@6.00 0 @6.50% @7.00�� <br />$3,500,000 Issue <br />20 Years $305,144 $317,645 $330,372 <br />25 Years 273,791 286,934 300,335 <br />30 Years 254,268 268,020 282,051 <br />$4,000,000 Issue - <br />20 Years $348,736 $363,024 $377,568 <br />25 Years 312,904 327,924 343,240 <br />30 Years 290,592 306,308 322,344 <br />JUL 1 <br />t979 �� 1 FAuE 23 <br />