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r r <br /> Golf Course Bonds - Proposed Payoff <br /> Proposed Debt Service and Estimated Savings from General Fund Interfund Loan <br /> Total P&I Refi. Cost/ <br /> Day Year Fiscal Year Interest Principal Total P&I Fiscal Year Existing Bonds (Savings) <br /> March 1 2014 $19,563 $19,563 <br /> Sept 1 2014 2013/14 $19;563.,. $585,OQ0 $604;563 " " ,$62,4'1i6-, <br /> March 1 2015 $12,250 $12,250 <br /> 3,84 <br /> Sept 1 2015 2014/15 ;000 $612,2;50 ($15,, <br /> March 1 2016 $4,750 $4,750 <br /> Sept.1; . 2016. 2015/16 $4;70" i $380,000 $384,750 " , $389;5QQ $400,$8„2 8'?). <br /> Grand Totals $73,126 $1,565,000 $1,638,126 $1,683,120 ($44,994) <br /> Amount needed to pay off bonds: $1,565,000 <br /> Additional to fund irrigation system/other improvements: $0 <br /> Total Amount of New Debt $1,565,000 <br /> Interest Rate on New Debt: 2.50% <br /> Draft 7/11/2013 <br /> F:\Budget\Jason\GOLF\Bond Payoff Analysis.xlsx <br />