Exhibit B Attachment B
Detailed (Savings) / Dissavings
Savings Detail of the 2010B BABs Fiscal 2010B BABs Proposed Nominal $ Year Payments' Payments Change
2025 $2,382,347 $2,341,781 ($40,566)
• Proposed payments are $28.8M higher 2026 4,764,694 4,617,500 (147,194) 2027 4,764,694 4,632,500 (132,194)
(i.e. dissavings)
2028 4,764,694 4,228,000 (536,694)
• Present value (PV) dissavings?: $4.4M 2029 4,764,694 3,854,750 (909,944) 2030 4,764,694 3,672,000 (1,092,694)
• Net PV dissavings3: $16.1M
2031 4,764,694 3,491,000 (1,273,694)
• $4.4M in higher payments+ 2032 4,764,694 2,997,000 (1,767,694) 2033 6,474,694 4,511,000 (1,963,694)
$11.6M 2010 DSRF amount 2034
12,719,524 10,493,750 (2,225,774)
• (15.1%) of par value refunded 2035 12,942,818 10,523,000 (2,419,818) 2036 13,169,305 10,541,250 (2,628,055)
2037 13,400,144 10,568,000 (2,832,144)
• Proposed payments are lower anywhere 2038 13,633,658 10,596,750 (3,036,908) from $40,556 (FY 2025) to $4.2M (FY 2043) 2039 13,938,171 10,631,250 (3,306,921) 2040 14,188,656 10,665,000 (3,523,656)
over the next 19 years
2041 14,440,831 10,690,000 (3,750,831)
2042 14,697,779 10,720,000 (3,977,779)
• Extension of term results in new payments 2043 7,557,347 3,360,000 (4,197,347) 2044 0 13,715,000 13,715,000
of $13.7M from FY 2044 to FY 2048
2045 0 13,715,000 13,715,000
2046 0 13,715,000 13,715,000
2047 0 13,715,000 13,715,000
Nets out current subsidy and reserve fund earnings (estimated at $333,250 per year). 2$ change discounted by the bond (arb) yield of the Proposed Restructuring Bonds. 2048 0 13,715,000 13,715,000 3 % net present value savings: savings (dissavings) / par amount refunded. Factors in TOTALS $172,898,130 $201,709,531 $28,811,401 both PV savings and the 2010 DSRF amount of $11.6M. PV2 $4,438,209
$16,083,743
Net PV as % of Par Refunded 15.1%