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Subordinate Housing Tax Allocation Revenue
<br />Refunding Bonds Series 2004
<br />Gross Debt Service Comparison
<br />Date Principal Coupon Interest New DIS OLD D/S Savings
<br />08/01/2004
<br />-
<br />-
<br />-
<br />-
<br />321,330.63
<br />321,330.63
<br />08/01/2005
<br />175,000.00
<br />1.600%
<br />338,954.23
<br />513,954.23
<br />511,586.26
<br />(2,367.97)
<br />08/01/2006
<br />200,000.00
<br />2.100%
<br />308,484.50
<br />508,484.50
<br />504,698.76
<br />(3,785.74)
<br />08/01/2007
<br />205,000.00
<br />2.600%
<br />304,284.50
<br />509,284.50
<br />507,593.76
<br />(1,690.74)
<br />08/01/2008
<br />215,000.00
<br />3.100%
<br />298,954.50
<br />513,954.50
<br />509,843.76
<br />(4,110.74)
<br />08/01/2009
<br />220,000.00
<br />3.400%
<br />292,289.50
<br />512,289.50
<br />511,428.76
<br />(860.74)
<br />08/01/2010
<br />230,000.00
<br />3.650%
<br />284,809.50
<br />514,809.50
<br />512,328.76
<br />(2,480.74)
<br />08/01/2011
<br />240,000.00
<br />3.900%
<br />276,414.50
<br />516,414.50
<br />512,523.76
<br />(3,890.74)
<br />08/01/2012
<br />245,000.00
<br />4.050%
<br />267,054.50
<br />512,054.50
<br />506,993.76
<br />(5,060.74)
<br />08/01/2013
<br />255,000.00
<br />4.200%
<br />257,132.00
<br />512,132.00
<br />510,993.76
<br />(1,138.24)
<br />08/01/2014
<br />270,000.00
<br />4.350%
<br />246,422.00
<br />516,422
<br />00
<br />513,953.76
<br />(2,468.24)
<br />08/01/2015
<br />280,000.00
<br />4.500%
<br />234,677.00
<br />514,677.00
<br />510,843.76
<br />(3,833.24)
<br />08/01/2016
<br />295,000.00
<br />4.600%
<br />222,077.00
<br />517,077.00
<br />511,923.76
<br />(5,153.24)
<br />08/01/2017
<br />305,000.00
<br />4.700%
<br />208,507.00
<br />513,507.00
<br />511,305.00
<br />(2,202.00)
<br />08/01/2018
<br />325,000.00
<br />4.800%
<br />194,172.00
<br />519,172.00
<br />514,767.50
<br />(4,404.50)
<br />08/01/2019
<br />335,000.00
<br />4.900%
<br />178,572.00
<br />513,572.00
<br />512,00500
<br />(1,567.00)
<br />08/01/2020
<br />530,000M
<br />5.000%
<br />162,157.00
<br />692,157.00
<br />688,323.76
<br />(3,833.24)
<br />08/01/2021
<br />560,000.00
<br />5.050%
<br />135,657.00
<br />695,657.00
<br />692,698.76
<br />(2,958.24)
<br />08/01/2022
<br />585,000M
<br />5.100%
<br />107,377.00
<br />692,377.00
<br />689,930.00
<br />(2,447.00)
<br />08/01/2023
<br />345,000.00
<br />5.140%
<br />77,542.00
<br />422,542.00
<br />419,900.00
<br />(2,642.00)
<br />08/01/2024
<br />370,000.00
<br />5.170%
<br />59,809.00
<br />429,809.00
<br />424,440.00
<br />(5,369.00)
<br />08/01/2025
<br />380,000.00
<br />5.200%
<br />40,680.00
<br />420,680.00
<br />417,430.00
<br />(3,250.00)
<br />08/01/2026
<br />400,000.00
<br />5.230%
<br />20,920.00
<br />420,920.00
<br />419,490.00
<br />(1,430.00)
<br />Total
<br />$6,965,000.00
<br />-
<br />$4,516,946.73
<br />$11,4819946.73
<br />$11,736,333.27
<br />$254,386.54
<br />PV Analysis Summary (Gross to Gross)
<br />Gross PV Debt Service Savings
<br />Transfers from Prior Issue DSR Fund
<br />Amount deposited into new DSR Fund
<br />Contingency or Rounding Amount
<br />Net Present Value Benefit
<br />Net PV Benefit/ $6,355,000 Refunded Principal
<br />Net PV Benefit/ $6,965,000 Refunding Principal
<br />287,097.17
<br />_.__... (642,702.00)
<br />..649.758.05
<br />2,533.92
<br />$296,687.14
<br />4.669%
<br />4.260%
<br />Refunding Bond Information
<br />Refunding Dated Date 6/29/2004
<br />Refunding Delivery Date 6/29/2004
<br />RFD Series 2001A-XLCAP I SINGLE PURPOSE 1 6/72004 1 9:41 AM
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