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� a � <br />TO: Honorable Board of County <br />DATE: June 9, 1986 FILL: <br />Commissioners <br />�T(ho;asSUBJECT: <br />THROUGH: Tommy Financial Information <br />County Administrator on Golf Course <br />FROM: JosephTA. Baird REFERENCES: <br />OMB Director <br />Below is a summary of source and use of funds on the $2,720,000 Golf Course <br />bond issue. I have attached a copy of the architect's construction cost estimates <br />and the draw schedule. The only variance we have is the total architectural fees <br />will be $112,400, all other costs are within the estimate at this time. <br />GOLF COURSE <br />$2,720,000 BOND ISSUE <br />SOURCES AND USES OF FUNDS <br />SOURCES <br />Par Amount of the Bonds $2,720,000,00 <br />Accrued Interest 15,102.00 <br />Contribution from County 300,000.00 <br />TOTAL SOURCES $3,035,102.00 <br />USES <br />Deposit to Construction Fund 2,400,000.00 <br />Estimated Cost of Issuance (1) 123,693.85 <br />Deposit to Sinking Fund (2) 486,620.00 <br />Original Issue Discount 24,788.15 <br />TOTAL USES $3,035,102.00 <br />(1) Includes Bond Insurance Premium and Bond Discount. <br />(2) Includes Accrued Interest and Capitalized Interest. <br />SANDRIDGE GOLF COURSE <br />CONSTRUCTION COSTS <br />Architect <br />$ 110,000 <br />Site Work <br />135,000 <br />Construction of Golf Course <br />1,300,000 <br />(Irrigation - $300,000) <br />Clubhouse <br />250,000 <br />Maintenance Building <br />100,000 <br />Golf Cart Equipment Building <br />75,000 <br />Equipment <br />200,000 <br />Grow -in Costs <br />175,000 <br />Contingency <br />55,000 <br />TOTAL COST <br />$2,400,000 <br />Less Utility Contribution <br />- 300,000 <br />Net Amount Borrowed <br />$2,100,000 <br />3 <br />BOOK D4 FD.Gc �� <br />JUIN 10 1986 <br />