STOCKTON PUBLIC FINANCE AUTHORITY
Cash Defeasance of Water Revenue Refunding Bonds, Series 2019A Preliminary / Subject to Change - For discussion purposes only Par Amount of Bonds…......................................................9,600,000.00$ Purchase Price of Bonds…...............................................8,300,544.00 $86.464 Average Tender Price Accrued Interest…....................................................... 162,690.67 Redemption Amount….........................................................8,463,234.67 Redemption Amount…...................................................8,463,234.67 Return on Cost of Issuance…...........................................................100,000.00 Investment Total Cash Required….............................................................8,563,234.67$ 4.81% Total Semi-Annual Annul
Date Principal Coupon Interest Debt Service Cash Flow Cash Flow 9/20/2023 Cash contribution from the City, cash outflow so amount is negative (8,563,234.67) (8,563,234.67) 10/1/2023 173,280.00 173,280.00 173,280.00 4/1/2024 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2024 173,280.00 173,280.00 173,280.00 4/1/2025 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2025 173,280.00 173,280.00 173,280.00 4/1/2026 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2026 173,280.00 173,280.00 173,280.00 4/1/2027 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2027 173,280.00 173,280.00 173,280.00 4/1/2028 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2028 173,280.00 173,280.00 173,280.00 4/1/2029 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2029 173,280.00 173,280.00 173,280.00 4/1/2030 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2030 173,280.00 173,280.00 173,280.00 4/1/2031 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2031 173,280.00 173,280.00 173,280.00 4/1/2032 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2032 173,280.00 173,280.00 173,280.00 4/1/2033 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2033 173,280.00 173,280.00 173,280.00 4/1/2034 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2034 173,280.00 173,280.00 173,280.00 4/1/2035 173,280.00 173,280.00 173,280.00 346,560.00 10/1/2035 645,000.00 3.610% 173,280.00 818,280.00 818,280.00 4/1/2036 161,637.75 161,637.75 161,637.75 979,917.75 10/1/2036 195,000.00 3.610% 161,637.75 356,637.75 356,637.75 4/1/2037 158,118.00 158,118.00 158,118.00 514,755.75 10/1/2037 200,000.00 3.610% 158,118.00 358,118.00 358,118.00 4/1/2038 154,508.00 154,508.00 154,508.00 512,626.00 10/1/2038 3,145,000.00 3.610% 154,508.00 3,299,508.00 3,299,508.00 4/1/2039 97,740.75 97,740.75 97,740.75 3,397,248.75 10/1/2039 3,265,000.00 3.610% 97,740.75 3,362,740.75 3,362,740.75 4/1/2040 38,807.50 38,807.50 38,807.50 3,401,548.25 10/1/2040 2,150,000.00 3.610% 38,807.50 2,188,807.50 2,188,807.50 4/1/2041 - - - 2,188,807.50
9,600,000.00$ 5,553,624.00$ 15,153,624.00$ -$ 15,153,624.00$ 15,153,624.00$ Present Value benefit at discount rate of 2.00% 3,267,153.98 Present Value benefit at discount rate of 2.50% 2,582,442.68 Present Value benefit at discount rate of 3.00% 1,947,001.49 Net Present Value Percentage Benefit 2.00% 34.03%
Net Present Value Percentage Benefit 2.50% 26.90%
Net Present Value Percentage Benefit 3.00% 20.28%
ATTACHMENT A