City of Alcester, SD

USDA Refunding
July, 2019 (2035 Maturity)
Without 1980 Bond and Payments at Approx. $43k

Debt Service Comparison

Net New
Date Total P+I D/S Old Net D/S Savings
10/01/2019 - - - -
10/01/2020 33,175.00 33,175.00 30,761.00 (2,414.00)
10/01/2021 42,555.00 42,555.00 30,761.02 (11,793.98)
10/01/2022 41,625.00 41,625.00 30,761.05 (10,863.95)
10/01/2023 40,695.00 40,695.00 30,761.05 (9,933.95)
10/01/2024 39,765.00 39,765.00 30,761.04 (9,003.96)
10/01/2025 43,835.00 43,835.00 30,761.05 (13,073.95)
10/01/2026 42,750.00 42,750.00 30,761.04 (11,988.96)
10/01/2027 41,665.00 41,665.00 30,761.03 (10,903.97)
10/01/2028 40,580.00 40,580.00 25,312.21 (15,267.79)
10/01/2029 39,495.00 39,495.00 24,222.45 (15,272.55)
10/01/2030 43,410.00 43,410.00 24,222.45 (19,187.55)
10/01/2031 42,170.00 42,170.00 24,222.45 (17,947.55)
10/01/2032 30,930.00 30,930.00 24,222.47 (6,707.53)
10/01/2033 - - 24,222.46 24,222.46
10/01/2034 - - 24,222.44 24,222.44
10/01/2035 - - 24,222.44 24,222.44
10/01/2036 - - 24,222.46 24,222.46
10/01/2037 - - 24,222.45 24,222.45
10/01/2038 - - 24,222.44 24,222.44
10/01/2039 - - 24,222.45 24,222.45
10/01/2040 - - 24,222.43 24,222.43
10/01/2041 - - 24,222.43 24,222.43
10/01/2042 - - 24,222.48 24,222.48
10/01/2043 - - 16,148.31 16,148.31
Total $522,650.00 $522,650.00 $626,663.10 $104,013.10

PV Analysis Summary (Net to Net)

Gross PV Debt Service Savings 15,969.74

Net PV Cashflow Savings @ 4.003%(AIC) 15,969.74

Contingency or Rounding Amount 4,754.03

Net Present Value Benefit $20,723.77

Net PV Benefit / $396,114 Refunded Principal 5.232%

Net PV Benefit / $425,000 Refunding Principal 4.876%

Refunding Bond Information

Refunding Dated Date 10/01/2019

Refunding Delivery Date 10/01/2019

Alcester SD - USDA Refund | SINGLE PURPOSE | 7/16/2019 | 3:16 PM

AMKO Advisors
Independent Municipal Advisor Page 1