HomeMy WebLinkAbout1995-05-08 95-203 ORDERCOUNCIL ACTION
Item Nb✓ 95-203
Date:
Item/Subect: Order, authorizing an issue of $2,500,000 aggregate principal
manunt of bonds and a tax levy therfor to support the rehabilitation and
expansion of the Bangor Public Library.
Initiating Department, City Council
C00®entary: The attached order would authorize the i of $2.5M in bonds-to—
support
ondstosupport the Library's rehabilitation and expansion project. e As you are aware, the
Library is anticipating an $8.5M Capital Campaign to renovate their existing
building and to expand. Funding for this project will come from a $2%5M challenge
donation, $2.5M to be provided by the City of Bangor, and an additional $3.5M to be
raised through their Capital Campaign.
In discusasions with the Library, it appears that the City's contribution can
be provided o a three-year period. We a anticipating that $500,000 will be
made availableduring FY 96, and $1,000,000 during both FY 97 and FY 98.
The attached order would authorize the issuance of these bonds and would
provide the needed flexibility as to the timing and amounts to be sold.
Assuming that we proceed with $500,000 during FY 96, the Council should be
aware that this will require that we budget for one interest payment during FY 96.
Assuming a 6.258 annual interest rate, this payment will be $31,250. This amount
has not been included within the operating budget. Once all of the funs have been
borrowed and full debt service hits, w will be looking at a first year interest
and principal payment iFY99 of $261,251.
Pursuant to the City charter, this bond order must be advertised and posted in two
public places prior to Council action. This will be done prior to the next Council
seting at which time the City Council must hold a public hearing on the issue.
Final approval requires a two-thirds vote of Council.
Manager's Commante: Buc. Foul
bN 1L11S .YI ✓m 9tA !✓iy�y�,
�Ci
ty Manager
Associated Information:
Order, debt service schedule
Legal Approval: J
nn
rrtw so letrm
Introduced For
Passage
First Reading
Referral to W4M&C pB
Page _ of
95-203
Ammipad to Couna m Soucy May 8,, 1995
p CITY OF BANGOR
(TITLE) (gIbff -. .. AUTHORISING AN ISSUE OF,,C2,500,000 AGGREGATE
PRINCIPAL AMOUNT OF BONDS AND A TAX LEVY THRRFOR TO SUPPORT
THE REHABILITATION AND BXPAMSTON OF THE EANGOR PUBLIC LIBRARY
_................ -I---- ................. ........... _.. _..1._....
By Mm CBy CommH of 010 cam of 110114ton.
ORDRRRD,
THAT Pursuant to 30-A M:R.S.A. 95972,. Section 8 of Article
VI of the City Charter (Private and Special Laws of 1931, Chapter 56)
and all amendments thereof and acts additional thereto, and all other
authority thereto enabling, there is hereby authorized the issue and
sale at one time and from time to time up to Two Hfllion Five hundred
Thousand Dollars ($2,500,000) aggregate principal amount of general
obligation bonds of the City of Bangor, plus up bo three percent (38) of
the principal amount of each issue or series to fund issuance costs.
The proceeds derived from the sale of said bonds, less premium, if any,
shall be used and are hereby appropriated to pay the Coate (as herein
defined) for expansion and rehabilitation of the Bangor Public Library
(the "Project").
THAT the estimated period of utility for the property
constituting the Project to be financed with the proceeds of said bonds
is hereby determined to be at least 20 years.
THAT the date, maturities, denominations, interest rate or
rates, place of payment and other details of each issue of said bonds,
including the timing and provision for their sale and award and the
selection of an underwriter, shall be determined by the Finance
Director, Cr acting Finance Director, with the approval of the Finance
Committee and the Chairman of the City Council, and said bonds shall be
signed by the Finance Director, or acting Finance Director,
countersigned by the Chairman of the City Council, sealed with the seal
of the City, attested by its Clerk, and be in such fact aM contain such
terms and provisions as they may approve, their approval to be
conclusively evidenced by their execution thereof. Any issue of bonds
may be 'consolidated with and issued at the same time as any other issue
of bonds authorized prior to their issuance, and the bonds may be
divided into multiple series and issued in separate plans of financing,
all as determined in the discretion of the Finance Director, or acting
Finance Director, with the approval of the Finance Committee and the
Chairman of the City Council.
95-203
THAT the bonds hereby authorized may be made subject to call
for redemption, with or without a premium, before the date fixed for
final payment of the bonds, as provided in 30-A H.R.S.A., $5772(6), as
amended, as shall be determined by the Finance Director, or acting
Finance Director, with the approval of the Finance Committee and the
Chairman of the City Council.
THAT, in each of the years during which any of the bonds are
outstanding, there shall be levied a tax in an amount which, with ether
revenues, if any, available for that purpose, shall be sufficient to pay
the interest on said bonds, payable in such years, and the principal of
such bonds maturing in such years.
THAT, pursuant to 30-A H.R.S.A.g5772, Section 10 of Article W
of the City Charter and any other authority thereto enabling, the
Finance Director, or acting Finance Director, with approval of the
Finance Committee and the Chairman of the City Council, is hereby
authorized to issue temporary notes of the City in anticipation of the
foregoing bond issue, said notes to be signed by the Finance Director,
or acting Finance Director, countersigned by the Chairman of the City
Council, sealed with the seal of the City, attested by its Clerk, and
otherwise to be in such form and contain such terms and provisions,
including without limitations, maturities, denominations, interest rate
or rates, place of payment and other details as they shall approve,
their approval to be conclusively evidenced by their execution thereof.
THAT any temporary nates (including notes in renewal thereof)
authorized to be issued under this Order may be issued in combination
with temporary notes (including notes in renewal thereof) and bonds
authorized to be issued by the City Council at any time prior to the
date of issuance of the temporary notes.
THAT the Finance Director, or acting Finance Director, be and
hereby is authorized to appoint the registrar, paying agent and transfer
agent (the "Transfer Agent") for the bonds of the City.
THAT the bonds issued hereunder shall he transferable only
upon registration books of the City kept by the Transfer Agent and said
Ronda of one maturity may be exchanged for an equal aggregate principal
amount of bonds of the same maturity (but not of another maturity) in
the denomination of $5,000 or any multiple thereof, upon surrender
thereof at the principal office of the Transfer Agent, with a written
instrument of transfer satisfactory to the Transfer Agent duly executed
by the registered owner or his attorney duly authorized in writing.
THAT, upon each exchange or transfer of bonds, the City and
the Transfer Agent shall make a charge sufficient to cover any tax, fee
or other governmental charge required to be paid with respect to such
transfer or exchange, and subsequent to the first exchange or transfer,
the cost of which shall be borne by the City, the cost of preparing new
bonds upon exchanges or transfers thereof shall be paid by the person
requesting the same.
95-203
THAT the Finance Director, or acting Finance Director, and the
Chairman of the City Council be and hereby are authorized to undertake
all acts necessary to provide for the issuance and transfer of the bonds
n book -entry £o= pursuant to the Depository Trust Company Book -entry
Only system, as an alternative to the provisions of the foregoing
resolution regarding physical transfer of bonds, and the Finance
Director, or acting Finance Director, he and hereby is authorized and
empowered to enter into a Letter of Representation or any other
contract, agreement or understanding necessary or, in his opinion,
appropriate in order to qualify the bonds for participation in the
Depository Trust Company Book -entry Only system.
THAT the Finance Director, or acting Finance Director, and the
Chairman of the City Council shall from time to time execute such bonds
and notes as may be required to provide for exchanges or transfer of
bonds and notes as authorized herein, all such bonds and notes to bear
the original signature of the Treasurer and the Chairman of the City
Council, and in the case of any officer of the City whose signature
appears on any bond or note shall cease to be such officer before the
delivery of such bond or note, such signature shall nevertheless be
valid and sufficient for all purposes, the same as if such officer had
remained in the office until delivery thereof.
TEAT the Finance Director, or acting Finance Director,
Chairman of the City Council, Clerk and other proper officials of the
City be, and hereby are, authorized and empowered in its name and on its
behalf to do or cause to be done all such acts and things as may be
necessary or desirable in order to effect the issuance, sale and
delivery of the bonds and notes as hereinbefore authorized.
TBAT the City covenants and certifies that no part of the
proceeds of the issue and sale of the bonds or notes authorized to be
issued by this Order shall be used, directly or indirectly, to acquire
any securities or obligations, the acquisition of which would cause such
bonds or notes to be 'arbitrage bonds' within the meaning of Section 148
of the Internal Revenue Code of 1986. as amended.
THAT the Finance Director, or acting Finance Director, be and
hereby is authorized to covenant and agree on behalf of the city and for
the benefit of all the holders of all bonds and notes issued hereunder
that the City will file any required reports and take any other action
that may be necessary to insure that interest on the bonds and any notes
issued in anticipation thereof, will r exempt from Federal income
taxation, and that the City will refrain from taking any action that
will cause interest on the bonds or notes to be subject to Federal
income taxation.
THAT the Finance Director, or acting Finance Director, be and
hereby is authorized and empowered in the name of the City and on its
behalf to determine whether the bonds authorized hereunder will be sold
through a negotiated sale or competitive bid. The Finance Director, o
acting Finance Director, be and hereby is authorized and empowered to
execute end deliver in the name of and on behalf of the City any and all
loan agreementa, contracts, certificates and other documents necessary
95-203
or, in his opinion, appropriate in connection with the negotiated sale
or competitive bidding.
THAT the Finance Director, or acting Finance Director, be and
hereby is authorized and empowered to take all such action as may be
necessary to designate such of the bonds as qualified tax-exempt
obligations for purposes of Section 265(6) of the Code; it being the
City Council's intention that the Finance Director, or acting Finance
Director, with advice of bond counsel, makes the required Section 265(b)
election with respect to such bonds to the extent the election may be
available and advisable as determined by the Finance Director, or acting
Finance Director.
THAT this order constitutes a Declaration of Official intent
by the City pursuant to Treasury Regulation 51.150-2 to reimburse any
original expenditures made on the Project out of the general fund, and
that the City intends to issue the bonds on a tax-exempt basis to the
extent they qualify for such treatment, and otherwise to issue such
bonds on a taxable basis.
THAT the term *Cost-, or "Costs- as used herein and as applied
to the Project, or any portion of the Project, includes, but fa not
limited to (1) the purchase price or acquisition coat of all or any
portion of the Project; (2) costa of construction, building, alteration,
enlargement, reconstruction, renovation, improvement and equipping of
the Project; (3) all appurtenances and other facilities either on, above
or under the ground which are used or usable in connection with the
Project; (4) landscaping, site preparation and remodeling of any
improvements or facilities; (5) the coat of all labor, materials,
building systema, machinery and equipment; (6) the cost of all lands,
structures, real property interests, rights, easements and franchises
acquired in connection with the Project; (7) the coat of all utility
extensions and site development; (8) the specifications, surveys,
engineering, feasibility studies, legal and other professional services;
(9) the cost of a mironnental studies and assessments; (SD) the cost of
financing charges and issuance costs, including premiums for insurance,
interest prior to and during construction, underwriters' fees and Cents,
legal and accounting fees and costs, application fees and other
financing fees, the coat of reserves for payment of future debt service
related to the financing transaction; and (11) the cost of all other
expenses necessary or incident to the Project and the financing
authorised hereunder.
IN CITY COUNCIL 95-203
May 8, 1995 ORDER
First Reeding
Refs
to
AN to date Covaittee Title, Authorizing an issue of $2,500.000
Aggregate Principal Amount of Bonds and e
C TY CLETax Levy Therefor to Support the Rehabilitation
ddd'83pad4idd'dE'f6d'aedgof'public'ti6rary:
IN CITY COUNCIL
May 22, 1995
Public Hearing Opened:
Bill Sullivan, Chairman of
the Trustees of the Library Aaagned to
Project. Expressed Thanks to
the City for its aupport of
unci.....
the Rehabilitation and -
Expansion of the Bangor Public Councilman
Library
Public Hearing Closed
ORDER - Passed
Vote: 9 yes
Councilors voting yea: Saldaccf,
Blanchette, Cohen, Frankel, Popper,
SOuc ullivan,Tylsr d Woodcock
9
Cl RR
Dated 8/ 1/97 with Delivery of S/ 1/97
Bond Years
26,250.880
Average Coupon
CITY OF
BANGOR, MINE
Average Life
10.500000
N I C %
6.000000 Y
using 100.0000000
Weighted Bond Years
26,250.000
1997 GENERAL OBLIGATION DOWNS
Ne ighted Average Life
10.500000
95-203
Weighted N I C 2
6.DOD000 t
(SCBEARIO
T I C 9
8 - TWO SERIES OF BANS:
W/1997 BONDS
Fleet Seourities, Inc.,
Portland, Mine
RUNDATE: 05-03-1995 0
14:06:20
FILENAFE: BTR K2Y: 1
DEBT SERVICE SCHEDULE
DATE
PRINCIPAL
COUPON
INTEREST
PERIOD TOTAL
FISCAL TOTAL
2/
1/98
75,000.00
75,000.00
75.000.00
8/
1/99
125,000.00
6.000000
75,000.00
200,000.00
2/
1/99
71,250.00
71,250.00
.271,250.00
0/
1/99
1241000.00
6.000000
71,250.00
196.250.00
2/
1/ 0
67,500.00
67,500.00
263,750.00
B/
l/ 0
125,000.00
6.000000
67,500.00
192,500.00
2/
l/ 1
61,750.00
63,750.00
256,250.00
9/
1/ 1
125,000.00
6.000000
63,750.00
188,750.00
2/
1/ 2
601000.00
60.000.80
248,750.00
8/
1/ 2
125,000.00
6.000000
60,000.00
185,000.00
2/
1/ 1
56,250.00
56,250.00
241,250.00
B/
1/ 3
125,000.00
6.000000
56,250.00
181.250.00
2/
1/ 4
52,500.00
52,500.00
232,750.00
B/
1/ 4
125,000.00
6.000000
52,500.00
177,500.00
2/
1/ 5
48,750.00
48,750.00
226,250.00
8/
1/ 5
125,000.00
6.000000
48,750.00
173,750.00
2/
1/ 6
45,000.00
45,000.00
218,750.00
8/
1/ 6
125,000.00
6.000000
45,000.00
170,000.00
2/
1/ 7
41,250.00
41,250.00
211,250.00
8/
1/ 7
126,000.00
6.000000
41,250.00
166,250.00
2/
1/ 8
37,500.00
37,500.00
203,750.00
8/
1/ 8
125,000.30
6.000000
37,500.00
162,500.00
2/
1/ 9
33,750.00
33.750.00
196,250.00
6/
1/ 9
125.000.00
6.000000
33.75D.30
158,750.DO
2/
1/10
30,000.00
30,000.00
198,750.00
8/
1/10
125,000.00
6.000000
30,000.00
1551000.00
2/
1/11
26,250.00
26.250.00
181,250.00
8/
1/11
125,000.00
6.000000
26,250.00
151,250.30
2/
1/12
22,500.00
22,500.00
173,750.00
0/
1/12
125,000.00
6.000000
22,500.00
147,500.00
2/
1/13
18,750.00
18.750.00
166,250.00
R/
3/13
125,000.00
6.000000
18,750.00
143,750.00
2/
1/14
15,000.00
15,000.00
150,750.00
8/
1/14
125.000.00
6.000000
15,000.00
140.000.00
2/
1/15
11,250.00
11,250.00
151,250.00
8/
1/15
125,000.80
6.000000
11,250.80
136,250.00
3/
1/16
7,500.00
7,500100
143,750.00
8/
1/16
125,000.00
6.000000
7,500.00
132,500.80
2/
1/17
3,750.00
3,750.00
1161250.00
8/
1/17
125,000.00
6.000000
31750.00
128,750.00
2/
1/18
128,750.00
1,500,300.00
1,575,000
4,075,000.00
ACCRUED
2,500,000.00
11575,000.00
4,075,000.00
Dated 8/ 1/97 with Delivery of S/ 1/97
Bond Years
26,250.880
Average Coupon
6.000000
Average Life
10.500000
N I C %
6.000000 Y
using 100.0000000
Weighted Bond Years
26,250.000
Ne ighted Average Life
10.500000
Weighted N I C 2
6.DOD000 t
Using 100.0000000
T I C 9
6.D00000 t
From Delivery Date
Fleet Seourities, Inc.,
Portland, Mine
RUNDATE: 05-03-1995 0
14:06:20
FILENAFE: BTR K2Y: 1
Pleat Securities, Inc.. Portland, Maine
RUNMTE: 05-03-1995 @ 14:14:56 FILANAME: BOB KEY: 1
CITY OF BANGOR, WAIER
95-203
1996 GENERAL OBLIGATION GOND ANTICIPATION N0765
(SCENARIO
J - TWO SERIES OF BANS: N/1997 BOND)
DEBT SERVICE SCHEMES
DATE PRINCIPAL
COUPON INTEREST PERIOD TOTAL
FISCAL TOTAL
-
B/ 1/97 1.500.000.00
i5
4.350000 6]. 0.00 1.563.)50.00
2/ 1/90
1,563.150.00
1.500.000.00
6].)50.00 1.563050.00
ACCRUED
,500,000.00
63,750. 00 1,56].]50.00
0ated 6/ 1/96 with Delivery of P/ 1/96
Band Years
1.500.000
Average Coupon
4.350000
Average Life
1.000000
N I C i
4.2500D0 E Osing 100.0000000
Neighed Band Years
1.500.000
Weighted Average Life
1.000000
Weighted N I C S
4.250000 4 Using 300.0000000
T I C a
4.10979 a From Delivery Date
Pleat Securities, Inc.. Portland, Maine
RUNMTE: 05-03-1995 @ 14:14:56 FILANAME: BOB KEY: 1
CITY OF 9AKGOR; MAINE 95-203
1995 GENERAL OBLIGATION BOND ANTICIPATION NOTES
(SCERARIO 3 - TWO SERIES OF YANG; N/1990 ROME)
DIRT SERVICE SCBEDULE
AFTER PRINCIPAL
COUPON
INTEREST PERIOD TOTAL FISCAL TOTAL
/ 1/96 500.000.00
1.350000
21,230.00 531.250.00
1/ 1/97
531.250.00
S Oo. 000. 00
11.250. 00 521,250.00
ACCRUED'
600. 000.00
21.250.00 521,290.00
Dated S/ 1/95 with Delivery
Of a/
1/95
Bond Years
500.000
Average Coupon
0.250000
Average Life
1.000000
N I C a
4.350000 %
Using 100.0000000
Weighted Bond Yeare
500.000
weighted Average Ufa
1.000000
Weighted N I C k
4.250000 a
using 1D0.0000000
T I C a
4.305779 a
Yram Delivery Date
Fleet Securities, Inc.,
Portland, Maine
RUNDATE: 05-03-1995 @
14:10:51
FILENAME: SON EST: 1
Fleet Securities, Inc„ Portland, Maine
ROBERTS: 05-03-1955 @ 13:35:01 FILENAHM: BCR RET': I
CITY OF
MARCOR, MINS
95-203
1997 OENSPAL
OBLIGATION BONDS
(SCENARIO f - 20-YEAR BONDS
IN TNRBfi PHASES)
DEBT SERVICE SCRIBBLE
RATE
PRINCIPAL
COUPON
INTEREST
PERI00 90PAL
FISCAL TOTAL
2/
1/98
30,000.00
30,000.00
20,000.00
0/
1/98
50,000.00
6.000000
30,000.00
80,000.00
2/
1/99
28,500.00
29,5OO.o0
108,500.00
8/
1/99
50,000.00
6.000000
26.500.00
78,500.00
2/
l/ 0
27,000.00
27.000.00
105,500.00
8/
l/ 0
50,000.00
6.000000
27,000.00
77,000.00
2/
l/ 1
.25,500.00
25,500.00
102,500.00
B/
1/ 1
50.000.00
6.000000
25,500.00
15,500.00
2/
1/ 2
24,000.00
24,000.00
89,500.00
6/
l/ 2
50.000.00
6.000000
21,000.00
74,000.00
5
22,500.00
22,500.00
86,500.00
l/ 3
50,000.00
6.000000
22.500.00
12,500.00
2/
1/ 4
n 0.00
21,000.00
93,500.00
S/
l/ 4
50,000.00
6.000000
21,000.00
71,000.00
2/
1/ 5
19,500.00
19,500.00
90,500.00
B/
1/ 5
50.000.00
6.000000
19,500.00
69,500.00
2/
1/ 6
18,000.00
18,000.00
87,500.D0
a/
1/ 6
50,000.00
6.000000
18,000.00
68,000.00
2/
1/ 7
16,500.00
16.500.OD
84,500.00
8/
1/ 7
50,000.00
6.000000
16,500.00
66,500.OD
2/
1/ a
15,000.00
15,000.00
81,500.00
8/
l/ 8
50,000.00
6.000000
15,000.00
65,000.00
2/
l/ 9
13,500.00
1),500.00
78,500.00
e/
1/ 9
501000.00
6.000000
12,500.00
6J,500.00'
2/
1/io
12,000.00
12.000.00
75,500.00
B/
1/10
50,000.00
6.000000
12.000.00
62,000.00
2/
1/11
10,500.00
10.500.00
72,500.00
a/
1/11
50,000.00
6.000000
10,500.00
60,500.00
2/
1/22
9,000.00
9,000.00
69,500.00
8/
1/12
50,000.00
6.000000
9,000.00
59,000.00
2/
3/13
7,500.00
7,500.00
66,500.00
8/
2/13
50,000.00
6.000000
7,500.00
57,500.00
2/
1/14
61000.00
6,000.00
63,500.00
S/
1/14
50,000.00
6.000000
6.000.00
56,000.00
2/
1/15
4,500.00
4,500.00
60.500.00
6/
1/15
50,000.00
6.000000
4,500.00
54,500.00
2/
1/16
3,000.00
3,000.00
57,500.00
8/
1/16
50.000.00
6.000000
3,000.00
52,000.00
51.500.00
a/
1/17
50.000.00
6.000000
1.500.00
51,500.00
2/
1/18
51,500.00
v,0oo,000.00
630,000.00
1,6301000.00
ACCRUED
11000,000.00
630,000.00
1,630,000.00
Dated 8/
1/97 with
De14Very
of B/
1/97
Bond Years
10,500.000
erage Coupon
6.000000
AVCrage Life
10.500000
N I
C 8
6.000000 Y
Using
100.0000000
Weighted Bond Years
10,500.000
Weighted Average Life
10.500000
Weighted N
I C 8
6.000000 8
using
100.0000000
T I
C 8
6.000000 A
Fano Delivery Data
Fleet Securities, Inc„ Portland, Maine
ROBERTS: 05-03-1955 @ 13:35:01 FILENAHM: BCR RET': I
CITY OF B.WOOR, HAIM
1996 ORDERED OBLIGATION BONDS
(SCENARIO 2 - 20 -YEAR FORM IN TERBB PHASES)
DEBT SERVICE Stl20NLE
95-203
DATE
PRINCIPAL
COUPON
INTEREST
__
PERIOD TOTAL
FISCAL TMAL
2/
__
1/99
10,000.00
3D, 000.
00
30,000.00
8/
1/97
SO,D00.00
6.000000
30,000.00
80.000.00
2/
1/98
26,500.00
28„600.00
108,500.00
8/
1/98
50,000,00
6.000000
28,500.00
78,500.00
2/
1/99
27,060.DO
27,000.00
105,500.00
6/
1/99
50,000.00
6.000000
27,000.90
77,000.00
2/
1/ 0
25,500.005,500.00
102.500.00
8/
1/ 0
50,000.00
6.000000
25,500.00
75,500.00
2/
l/ 1
24,000.00
24,000.00
99,500.OD
R/
1/ 1
$0,000.00
6.000000
24,000.00
74,000.00
2/
1/ 2
22,500.00
12,$00.00
96.500.00
6/
1/ 2
50,000.00
6.000000
22,500.00
72,300.00
2/
1/ 3
21,000.00
21,000.00
93,500.DO
8/
1/ 3
50,000.00
6.000000
23,000.00
71,000.00
2/
1/ a
19.500.00
19,500.00
90,500.00
8/
1/ 4
50,000.00
6.000000
19,500.00
69.500.00
2/
l/ S
18.000.00
18,000.00
87,500.00
9/
l/ S
50,000.00
6.000000
18.000.00
60,000.00
"
2/
1/ 6
16,So0.00
16.500.00
84,500.00
8/
1/ 6
50.000.00
6.000000
16.500.00
66,500.00
2/
1/7
15,000.00
IS1000.00
01.500.00
8/
1/ 7
30,000.00
6.000000
15,000.00
63,000.00
2/
1/ 0
13,500.00
13,500.00
98,s00.00
6/
1/ 8
$0,000.00
6.000000
13,500.00
63,500.00
2/
l/ 9
12.000.00
32,000.00
75,500.00
A/
1/ 9
50,000.00
6.000000
12,000.00
62,000.00
2/
1/10
10,500.00
10,500.00
72,500.00
6/
1/30
50,000.00
6.000000
10,500.00
GD,500.00
2/
1/11
9,000.00
9.000.00
69,500.00
8/
1/11
50,000.00
6.000000
9,000.00
59,000.00
2/
1/12
7,500.00
7,500.00
66,500.00
8/
1/12
50,000.00
6.000000
7,500.00
S9,SOO.00
2/
1/13
6,000.00
6,000.00
63,500.00
"
6/
1/11
S0,000.00
6.000000
6,000.00
56,000.00
2/
1/14
4,s00.00
4,300.00
60,500.00
8/
1/14
$0.000.00
6.000000
4,500.00
54,500.00
2/
1/15
2,000.00
31000.00
57,500.00
$/
1/15
50.000.00
6.000000
3,000.00
53,000.00
2/
1/16
3,soo.00
11500.00
64,500.00
8/
1/16
50,000.00
6.000000
11500.00
51,son.00
2/
1/17
--------------
--------------
51,500.00
1,000,000.00
630,000.00
1.630,000.00
ACCRUED
1,000,000.00
630,000.00
11630,000.00
Dated e/
1/96 with
Delivery
of e/
1/96
Bond Years
10,500.000
Average Coupon
6.000000
Average
Life
10.500000
N I
C
i
6,000000
I Using
100.0000000
Weighted Bond Years 10,500.000
Weighted Average Life 10.500000
Weighted N I C a 6.000000 t Using 100.0000000
T I C 8 6.000000 % From Delivery Data
Fleet Seryritie3, InC.. Portland, Wine
RUNDATB: 05-03-1995 0 13:34:01 FILENAME: BER KRY: 1
NED
14:3b
T Nu.
eu D Va000
r.
D;
CITY OF BANGOR, Y.AINB
95-203
1995 GENERAL
OBLIGATION BONDS
(SCENARIO 2 - 20 -YEAR BONDS IN THREE PHASES
SENT'SERVICS SCREDULE
DATE
PRINCIPAL
COYPON
INTERE6T
PERIOD TOTAL
FISCAL MAL
2/
1/96
15,000.00
15,000.00
15,000.00
8/
1/96
25,D00.00
6.000000
15,000.00
40,000.00
2/
1/97
14,250.00
14,250.00
54.250.00
9/
1/97
25,000.00
6.000000
14,250.00
39,250.00
2/
1/98
13.500.00
13,500.00
52.750.00
A/
1/98
25,000.00
6.000000
13,500.00
38.500.00
I/
1/99
121760.00
12,750.00
51,2so.00
e/
1/99 -
25,000.00
5.000000
12,750.00
37,750.00
2/
1/ 0
12,000.00
12,000.00
49,730.00
8/
l/ 0
25,000.00
6.000600
12.000.00
37.000.00
2/
1/ 1
-
11.250.00
111250.00
48.250.00
B/
1/ 1
25,000.00
6.000000
11,250.00
16,250.00
2/
1/ 2
10,500.00
10.500.00
46,750.00
8/
1/ 2
25,000.00
6.000000
10,500.00
35,500.00
2/
l/ 3
9,750.00
9,760.00
45,250.00
B/
l/ 3
25,000.00
6.000000
9,750.00
34.750.00
2/
l/ 4
91000.00
9.000.00
43.750.00
0/
1/ 4
25,000.00
6.000000
9,000.00
34.000.00
2/
1/ 5
8,250.00
81250.00
42,250.00
8/
l/ 5
25.000.00
6.000000
0.250.00
33,250.00
2/
l/ 6
7.500.00
7,500.00
40.750.00
8/
l/ 6
25.000.00
6.000000
7,500.00
32,500.00
2/
1/ >
6,750.00
6.7s0.00
19,150.00
9/
l/ 7
25,000.00
6.000000
6,750.00
31,750.00
2/
1/ B
6,000.00
61000.00
37,750.00
8/
1/ 8
25,000.00
5.000000
6,000.00
31,000.00
2/
1/ 9
5,250.00
5,250.00
16,250.00
8/
1/ 9
25,000.00
6.000000
5,250.00
30,250.00
2/
1/10
4,500.00
4,500.00
34,750.00
8/
1/10
25,000.00
6.000000 -
4,500.00
29.500.00
2/
1/11
3,750.00
3,750.00
33,250.00
8/
1/11
25,000.00
6.000000
3,750.00
28,750.00
2/
1/12
3,000.00
3,000.00
31.750.00
8/
1/12
25.000.00
6.000000
3,000.00
28,000.00
2/
1/13
2,250.00
2,250.00
30,250.00
S/
1/13
25,000.00
6.000000
2,250.00
27,250.00
2/
1/14
1,500.00
1,500.00
20,750.00
S/
1/14
25,000.00
6.000000
1,500.00
26,500.00
2/
1/I$
750.00
750.00
27,230.60
6/
1/15
25,090.00
6.000000
750.00
25,750.00
2/
1/16
25,750.00
500,000.00
335.000.00
515,000.00
u xED
300, 000.00
315,000.00
815,000.00
Dated
8/
1/95 with
Delivery
of 6/
1/96
Bond Years
51250.000
Average Coupon
6.000000
Average Life
10.500000
N I
C 8
6.000000 t
Using
IOD.0000000
Weighted
Bond Years
5,250.000
Weighted
Average LifO1
0.500000
Weighted
N
I C S
6.000000 R
O91ng
100.0000000
T I
C a
6.000000 i
From DeliverF Data
Fleet securities, Inc., Portland, Maine
RUNDATE: 05-03-1995 0 13:32:34 FILENANE: EON KEY: 1
CITY OF BANGOR, MA19E 95-203
1995 GENERAL OBLIGATION BONDS
(scUmBAIO I - 20 -YEAR 90NO9j
DM 6HNIC6 SCHEDULE
DATE
PRINCIPAL
COUPON
INTBRHBT
PERIOD TOTAL
FISCAL TOTAL
2/
1/96
N I C 4
6.000000 8
35,000.00
Weighted Bond Years
75,000.00
75,000.00
10.503300
O/
1/96
325,DGO.
00
6.000000
75,000.00
From Delivery Bate
200,000.00
Portland, Maine
2/
1/97
RONWTB: OS -03-1995 6
14:25:33
FILENAME: BGR MY: 1
71,250.00
71.250.00
271,250.00
8/
1/97
125,000.00
6.000000
71,250.00
196.250.00
2/
1/90
67,500.00
67,500.00
263,750.00
8/
1/98
125.000.00
6.000000
67,500.00
192,500.00
2/
1/99
63,790.00
63,750.00
256,250.00
8/
1/99
125,000.00
6.800000
63,750.00
188,750.00
2/
1/ 0
60,000.00
60,DOO.00
248,750.00
e/
1/ 0
125,000.00
6.000000
60,000.00
185.000.00
2/
1/ 1
$6,250.00
56.250.00
241,250.00
8/
1/ 1
125,000.00
6.000000
$6,250.00
181,250.00
2/
1/ 2
52,500.00
52,500.00
233.750.00
125,000.00
6.000080
52,500.00
137,500.00
1/
1% 5
08.750.00
48,750.00
226,250.00
0/
1/ 3
125,000.00
6.000000
40,750.00
173.750.GO
2/
1/ 4
45.000.00
45,000.00
216,750.00
S/
1/ 4
125,000.00
6.000000
45.000.00
170.000.00
2/
1/ 5
41,250.G0
41,250.00
211,250.00
8/
1/ 5
125.000.00
6.000000
41,250.00
166,250.00
2/
1/ 6
37,500.00
17,500.00
203,750.00
8/
1/ 6
115,000.00
6.000000
37,500.00
162,500.00
2/
1/ 7
33,750.00
33,750.00
196,250.00
S/
1/ 7
125,800,00
6.000000
33,750.00
158,750.00
2/
1/ 8
30,000.00
10,000.00.
188,750.00
8/
1/ 8
125,000.00
6.000000
30,000.00
155,000.00
2/
1/ 5
26,250.00
26,250.00
181.250.00
8/
1/ 9
125,000.00
6.000000
26,260.00
151,250.00
2/
1/30
22,500.00
22,500.00
173,750.00
0/
1/10
125,000.00
6.000000
22,500.00
147,500.00
2/
1/11
30,750.00
18,750.00
166,250.00
9/
1/11
125,000.00
6.000000
18,750.00
143,750.00
2/
1/12
15,000.00
15,000.00
158,750.00
9/
1/12
125.000.00
6.000000
15,000.00
340,000.00
2/
1/13
11,250.00
11,250.00
151,250.00
8/
1/13
125,000.00
6.0000000.00
17,500.00
136,250.00
2/
1/14
7,500.00
143,750.00
8/
2/14
125,000.00
6.000000
7,500.00
2/
1/15
3.750.00
3,750.00
136,250.00
3/
1/15
125,000.00
6.ODD000
3,750.00
128,750.DO
2/
1/16
1
128,750.00
2,500,000.00
1,575,000.00
4,075,000.00
"
ACCRUED
2,500,000.00
1,S75,000.00
4,075,000.00
Dated 8/ 1/95 With Delivery Of e/ 3/95
Bond YeSta
26.150.000
Average Coupon
6.000000
Average Life
10.500000
N I C 4
6.000000 8
Using 100.0000000
Weighted Bond Years
26,250.000
Weighted Average Lift"
10.503300
Weighted N I C E
6.000000 S
Using 100.0000000
T 1 C t
6.000000 i
From Delivery Bate
Pleat SeOYrities, Inc.,
Portland, Maine
RONWTB: OS -03-1995 6
14:25:33
FILENAME: BGR MY: 1