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13 <br />U <br />0', <br />HOME OFFICE <br />FLORIDA FEDERAL BUILDING <br />ST. PETERSBURG. FLORIDA 33731 <br />William I HOUR11 & Co <br />P. O. BOX 3546 <br />23 WEST CHURCH STREET <br />ORLANDO, FLORIDA 32802 <br />(305) 841-1685 <br />ALFRED C. SHEPARD <br />RESIDENT PARTNER <br />GEORGE T. BLAND <br />PARTNER <br />ARNOLD W. SCHNEIDER <br />VICE PRESIDENT June 7, 1979 <br />Mr. Tommy Thomas <br />Road and Bridge Department <br />Indian River County Courthouse <br />Vero Beach, F1 32960 <br />Dear .Tommy: <br />As a follow-up to our conversation, please find attached the three amortization <br />schedules which you have requested. Schedule 1 is that of an issue of $3,435,000 <br />principal amount of bonds with a 20 -year maturity at an estimated interest rate <br />of 6-1/2%. As you can see from reading the schedule, the level debt service <br />requirements for such an 'issue range from $309,000 to $314,000 per year. <br />Schedule 2 sets forth an issue of $3,445,000 principal amount of bonds at <br />6-3/4% over 25 years.. Debt service requirements for this issue range from <br />approximately $286,000 a year to $291,000 a year. <br />Schedule 3 sets forth an issue of $3,450,000 principal amount of bonds over <br />30 years at 7% interest with level debt service payments ranging from $275,000 <br />to $280,000 per year. - - <br />In each case I have assumed a 2% discount on the sale of the bonds and issuance <br />costs of approximately $47,000 (1-1/2% of the $3,115,000 construction costs that <br />you quoted to me). Each amortization also contains one year of capitalized <br />interest which are as follows: <br />$210,000 for the 6-1/2% amortization <br />$218,000 for the 6-3/4% amortization <br />$226,000 for the 7% amortization <br />If we can be of any further assistance to you on this or any other matter, <br />please don't hesitate to call. Best regards, <br />Sincerely, <br />�4 no1.d W. $cluiei.der <br />AWS:gk <br />Enc. <br />JUL -181979 <br />MUNICIPAL 13ONDS <br />MUNICIPAL FINANCE CONSULTATION <br />B�. FADE s <br />OOK <br />t <br />