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Okaloosa County BOCC — May 15, 2013 — (2013.05.13) Okaloosa County New Money Analysis — reading text
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Okaloosa County, Florida
New Money Capacity Analysis:
$1,250,000 Annual Revenue Constraint
NBQ Market Rates as of 5/14/2013
10 Year NBQ 15 Year NBQ 20 Year Uninsured 30 Year Uninsured
Scenario
Bank Loan Bank Loan Bond Issue* Bond Issue*
Annual Revenue Constraint $1,250,000 $1,250,000 $1,250,000 $1,250,000
Issue Date 10/1/2013 10/1/2013 10/1/2013 10/1/2013
Principal Amount $10,640,000 $14,365,000 $16,955,000 $20,940,000
Project Amount $10,565,000 $14,290,000 $15,444,792 $19,403,940
Max Annual Debt Service $1,249,200 $1,249,750 $1,250,000 $1,249,950
TIC 3.00% 3.50% 4.00% 4.25%
‐ Preliminary and Subject to Change
‐ *Assumes Fully Funded Cash Debt Service Reserve for Bond Issue Scenarios
‐ Analysis Assumes 1.00x Debt Service Coverage
‐ Assumes Uninsured A1 Market Rates as of 5/14/2013 For Bond Issue Scenarios
‐ Assumes NBQ Bank Loan Rates as of 5/14/2013
‐ Estimated Cost of Issuance of $75k For Bank Loan Scenarios
‐ Estimated Cost of Issuance of $150 & $6.5 per bond for UW Discount for Bond Issue Scenarios
Okaloosa County, Florida
New Money Capacity Analysis:
$1,000,000 Annual Revenue Constraint
NBQ Market Rates as of 5/14/2013
10 Year NBQ 15 Year NBQ 20 Year Uninsured 30 Year Uninsured
Scenario
Bank Loan Bank Loan Bond Issue* Bond Issue*
Annual Revenue Constraint $1,000,000 $1,000,000 $1,000,000 $1,000,000
Issue Date 10/1/2013 10/1/2013 10/1/2013 10/1/2013
Principal Amount $8,505,000 $11,485,000 $13,560,000 $16,735,000
Project Amount $8,430,000 $11,410,000 $12,322,060 $15,476,285
Max Annual Debt Service $999,750 $999,625 $999,800 $999,938
TIC 3.00% 3.50% 4.00% 4.25%
‐ Preliminary and Subject to Change
‐ *Assumes Fully Funded Cash Debt Service Reserve For Bond Issue Scenarios
‐ Analysis Assumes 1.00x Debt Service Coverage
‐ Assumes Uninsured A1 Market Rates as of 5/14/2013 For Bond Issue Scenarios
‐ Assumes NBQ Bank Loan Rates as of 5/14/2013
‐ Estimated Cost of Issuance of $75k For Bank Loan Scenarios
‐ Estimated Cost of Issuance of $150 & $6.5 per bond for UW Discount for Bond Issue Scenarios
Okaloosa County, Florida
New Money Capacity Analysis:
$750,000 Annual Revenue Constraint
NBQ Market Rates as of 5/14/2013
10 Year NBQ 15 Year NBQ 20 Year Uninsured 30 Year Uninsured
Scenario
Bank Loan Bank Loan Bond Issue* Bond Issue*
Annual Revenue Constraint $750,000 $750,000 $750,000 $750,000
Issue Date 10/1/2013 10/1/2013 10/1/2013 10/1/2013
Principal Amount $6,380,000 $8,610,000 $10,160,000 $12,555,000
Project Amount $6,305,000 $8,535,000 $9,194,360 $11,573,493
Max Annual Debt Service $749,800 $749,900 $749,600 $749,900
TIC 3.00% 3.50% 4.00% 4.25%
‐ Preliminary and Subject to Change
‐ *Assumes Fully Funded Cash Debt Service Reserve For Bond Issue Scenarios
‐ Analysis Assumes 1.00x Debt Service Coverage
‐ Assumes Uninsured A1 Market Rates as of 5/14/2013 For Bond Issue Scenarios
‐ Assumes NBQ Bank Loan Rates as of 5/14/2013
‐ Estimated Cost of Issuance of $75k For Bank Loan Scenarios
‐ Estimated Cost of Issuance of $150 & $6.5 per bond for UW Discount for Bond Issue Scenarios
Okaloosa County, Florida
New Money Capacity Analysis:
$500,000 Annual Revenue Constraint
NBQ Market Rates as of 5/14/2013
10 Year NBQ 15 Year NBQ 20 Year Uninsured 30 Year Uninsured
Scenario
Bank Loan Bank Loan Bond Issue* Bond Issue*
Annual Revenue Constraint $500,000 $500,000 $500,000 $500,000
Issue Date 10/1/2013 10/1/2013 10/1/2013 10/1/2013
Principal Amount $4,245,000 $5,730,000 $6,760,000 $8,345,000
Project Amount $4,170,000 $5,655,000 $6,066,460 $7,641,020
Max Annual Debt Service $499,850 $499,875 $499,600 $499,738
TIC 3.00% 3.50% 4.00% 4.25%
‐ Preliminary and Subject to Change
‐ *Assumes Fully Funded Cash Debt Service Reserve For Bond Issue Scenarios
‐ Analysis Assumes 1.00x Debt Service Coverage
‐ Assumes Uninsured A1 Market Rates as of 5/14/2013 For Bond Issue Scenarios
‐ Assumes NBQ Bank Loan Rates as of 5/14/2013
‐ Estimated Cost of Issuance of $75k For Bank Loan Scenarios
‐ Estimated Cost of Issuance of $150 & $6.5 per bond for UW Discount for Bond Issue Scenarios