EXHIBIT A
GOOD FAITH ESTIMATES
The good faith estimates set forth herein are provided with respect to the Bonds. Such good faith estimates have been provided to the City by Fieldman, Rolapp & Associates, Inc. (the “Municipal Advisor”), based on the financing plan, and projected market conditions and preliminary sizing prepared by Piper Sandler & Co. as underwriter for the Bonds.
Estimated Principal Amount. The Municipal Advisor has informed the City that, based on the financing plan and projected market conditions, the good faith estimate of the aggregate principal amount of the Bonds is $16,870,000 (the “Estimated Principal Amount”).
True Interest Cost. The Municipal Advisor has informed the City that the good faith estimate of the true interest cost of the Bonds, which means the rate necessary to discount the amounts payable on the respective principal and interest payment dates to the purchase price received for the Bonds, is 5.68% Finance Charge. The Municipal Advisor has informed the City that the good faith estimate of the finance charge for the Bonds, which means the sum of all fees and charges paid to third parties for costs in connection with the issuance and sale of the Bonds (the “Finance Charge”), is $487,857.
Amount of Proceeds to be Received. The Municipal Advisor has informed the City that the good faith estimate of the amount of proceeds of the Bonds expected to be received by the District, less the Finance Charge, and any reserves or capitalized interest paid or funded with the proceeds of the Bonds, is $14,821,301.
Total Payment Amount. The Municipal Advisor has informed the City that the good faith estimate of the total payment amount, which means the sum total of all principal and interest payments made for the Bonds, plus the Finance Charge, not paid with the proceeds of the financing, calculated to the final maturity of the Bonds, is $40,387,542.
The estimates above may differ from the actual amounts due to (a) the actual dated date of the Bonds being different from the date assumed for purposes of such estimates, (b) the actual aggregate principal amount of the Bonds being different from the Estimated Principal Amount, (c) the actual interest rates on the Bonds being different from the estimated interest rates at the time of preparation of these good faith estimates, (d) the actual amortization of the debt service on the Bonds being different from the amortization assumed for purposes of such estimates, (e) other market conditions, or (f) alterations in the City’s financing plan, or a combination of such factors. The actual dated date of the Bonds and the actual aggregate principal amount of the Bonds will be determined by the City based on market conditions and other factors.