2. Capital Projects Fund$2,419,845.73 Design Fees$ 189,756.89 TOTAL: $2,609,602.62 Available Funds:

3. Happy Hollow Task Force Funding Presentation Assessed Valuation 2003 pay 2004 $895,916,645 $895,916,645 Ability To Issue General Obligation Bonds $6,002,640 Holding Corporation Bonds No Limit No Limit

4. General Obligation Bonds  Remonstrance Petitions if above 2,000,000 may be reduced by approximately $350,000 for Taxable Severance Bond. Holding Corporation Bonds  Bonds sold to pay for Interest during Construction.  Same Remonstrance Process.  Holding Corporation sells bonds, leases building. building.  Holding Corporation pays bond interest while building construction takes place. building construction takes place.  Lease starts after construction is complete.

5. Variable Cost For Project Budgets TTTType of Construction: Construction Manager or General Contractors  D Determination of Common Construction Wage

6. Professional Fees   Attorneys   Architects   Construction Managers

7. Bond Sale Process  Pay Underwriter Fees in Advance?  Bond Ratings and Bond Insurance?  Negotiated Sale vs. Competitive Bidding?  Financial Advisor?

8. Use of Funds on Hand  Pay Professional Fees as earned vs. after sale of bonds?  Exterior Renovations?  Sequence of Construction and possible temporary student quarters?

9. Interest During Construction  Length of Construction project determines cost.  Payouts for billing determines interest income.

10. Maintenance Project  Smaller Dollars.  No Change to Facility.  Update existing components.  Larger and more Comprehensive. Capital Project

11. School Debt Options Happy Hollow Elementary

12.  Construction Cost $ 9,008,392  Bond Issue $12,221,000 Option H-2 - Low Cost

13. Option H-2 - Low Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $ 88.52 $ 123.70 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $ 88.52 $ 123.70

14.  Construction Cost $10,365,480  Bond Issue $13,769,000 Option H-2 – Middle Cost

15. Option H-2 - Middle Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $ 99.73 $ 139.37 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $ 99.73 $ 139.37

16.  Construction Cost $11,722,569  Bond Issue $15,315,000 Option H-2 – High Cost

17. Option H-2 - High Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $110.93 $ 155.02 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $110.93 $ 155.02

18.  Construction Cost $12,061,679  Bond Issue $15,737,000 Option H-4 – Low Cost

19. Option H-4 - Low Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $113.98 $ 159.29 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $113.98 $ 159.29

20.  Construction Cost $13,468,770  Bond Issue $17,477,000 Option H-4 – Middle Cost

21. Option H-4 - Middle Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $126.58 $ 176.90 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $126.58 $ 176.90

22.  Construction Cost $14,875,861  Bond Issue $19,317,000 Option H-4 – High Cost

23. Option H-4 - High Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $139.91 $ 195.52 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $139.91 $ 195.52

24.  Construction Cost $11,536,529  Bond Issue $15,238,000 Option B-6 – Low Cost

25. Option B-6 - Low Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $110.37 $ 154.24 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $110.37 $ 154.24

26.  Construction Cost $13,699,945  Bond Issue $17,733,000 Option B-6 – Middle Cost

27. Option B-6 - Middle Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $128.44 $ 179.49 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $128.44 $ 179.49

28.  Construction Cost $14,803,361  Bond Issue $19,230,000 Option B-6 – High Cost

29. Option B-6 - High Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $139.28 $ 194.64 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $139.28 $ 194.64

30.  Construction Cost $11,265,455  Bond Issue $14,832,000 Option B-4 – Low Cost

31. Option B-4 - Low Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $107.44 $ 150.14 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $107.44 $ 150.14

32.  Construction Cost $12,712,331  Bond Issue $16,567,000 Option B-4 – Middle Cost

33. Option B-4 - Middle Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $119.99 $ 167.69 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $119.99 $ 167.69

34.  Construction Cost $14,159,208  Bond Issue $18,302,000 Option B-4 – High Cost

35. Option B-4 - High Cost - Sample Tax Burden Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $132.61 $ 185.32 Homeowner Non-Homeowner OccupiedOccupied Median Home Av $95,600 $133,600 Year 1 $132.61 $ 185.32