1. City of Palm Coast, Florida
Mark P. Galvin Director 450 S. Orange Avenue, Suite 460 Orlando, Florida Tel
January 13, 2017
CRA and Wastewater SRF Loan Refunding Summary
City of Palm Coast, Florida

2. Redevelopment Refunding Revenue Note,
State Road 100 Corridor Community Redevelopment Agency (CRA) Debt Profile
CRA
Redevelopment Refunding Revenue Note,
Series 2012
Series 2014 (Taxable)
Original Amount
$5,448,000
$5,839,000
Par Outstanding
$3,795,000
$5,230,000
Interest Rates
2.29%
4.44%
Final Maturity
10/1/2024
10/1/2028
Max Annual Debt Service
$527,639
$876,004
Callable
Payment 101%
101%
Debt Service Reserve
None
Purpose
Refunding of Series 2009 Note and
New Money
Refund Certain Outstanding Promissory Notes
Security
CRA Revenues
Lead Underwriter / Lender
BB&T
Ameris Bank
Credit
N/A
Underlying Rating

3. Summary - Proposed Series 2014 CRA Note Rate Adjustment
Ameris Bank Rate Adjustment % interest rate:
Palm Coast, Florida
Refunding Analysis of Outstanding Series 2014 CRA Bank Loan
CRA - State Road 100 Corridor
Scenario
Redevelopment Impv. Ref. Rev. Note
Refunding of Series 2014 (Ameris)
Taxable - Uniform Savings
Refunding Results Summary
Cashflow Savings
$409,045
Average Annual Savings
$35,061
Present Value Savings
$347,415
PV Savings as % of Refunded Bonds
6.64%
Revenue Refunding Issue (Series 2017)
Issuance Date
2/1/2017
Par Amount
$5,230,000
Final Maturity
10/1/2028
All-In TIC
3.45%
Max Annual Debt Service
$866,911
Total Debt Service
$6,655,460
Refunded Issue Summary (Series 2014)
Par Refunded
Maturities Refunded
Interest Rates
4.44%
Call Dates & Price*
101%
$876,004
*Original call provision is at 101%. Assumes no call premium - rate adjustment only.

4. Revenue Refunding Note, Improvement and Ref. Refunding Bonds,
Utility System Debt Profile – Senior Lien Debt
Utility System
Revenue Refunding Note,
Series 2016
Improvement and Ref. Refunding Bonds,
Series 2013
Original Amount
$40,193,000
$89,600,000
Par Outstanding
$39,347,000
$81,250,000
Interest Rates
2.48%
2.00%-5.00%
Final Maturity
10/1/2036
Max Annual Debt Service
$2,521,887
$6,805,000
Callable
100%
100%
Debt Service Reserve
None
Purpose
Refunding of Series 2007 Bonds
Refunding of Series 2003 Bonds
Security
Net Revenues of the Utility System
Sewer System and Water System Capital Facilities Fees
Lead Underwriter / Lender
Ameris Bank
Barclays
Credit
N/A
Underlying Rating
NR/A+/A+

5. State Revolving Loan Fund
Utility System Debt Profile – Subordinate Debt – Wastewater SRF Loans
SRF Loan #WW903080
SRF Loan #WW903050
SRF Loan #WW90303S
SRF Loan #WW90302S
Original Amount
$6,793,716
$14,186,092
$14,115,081
$2,657,848
Par Outstanding
$3,698,188
$4,871,166
$7,103,524
$1,406,588
Interest Rates
2.54%
2.60%
2.71%
Final Maturity
6/15/2028
6/15/2026
12/15/2025
Max Annual Debt Service
$372,855
$491,116
$848,708
$177,172
Callable
100%
Debt Service Reserve
None
Purpose
New Money
Security
Net Revenues of
Utility System
Lead Underwriter / Lender
State Revolving Loan Fund
Credit
N/A
Underlying Rating
*Source – City of Palm Coast Finance Department

6. SRF Refunding Revenue Note Refunding of WW SRF Loans
Proposed Refunding of Outstanding Wastewater SRF Loans
CenterState Bank Loan Proposal % interest rate:
Palm Coast, Florida
Refunding Analysis of Outstanding Wastewater SRF Loans
SRF Refunding Revenue Note
Refunding of WW SRF Loans
Uniform Savings
Refunding Results Summary
Cashflow Savings
$146,916
Average Annual Savings
$12,881
Present Value Savings
$128,744
PV Savings as % of Refunded Bonds
0.76%
Revenue Refunding Issue (Series 2017)
Issuance Date
1/19/2017
Par Amount
$17,163,000
Final Maturity
6/15/2028
All-In TIC
2.43%
Max Annual Debt Service
$1,876,422
Total Debt Service
$19,420,047
Refunded SRF Summary (WW SRF Loans)
Par Refunded
$17,079,468
Maturities Refunded
Interest Rates
2.54%/2.60%/2.71%
Call Dates & Price
100%
-Assumes SRF Loans can be paid off at Closing 1/19/2017