1. Overview of 2012 B COP Refinancing and Debt Repayment Plan Plumas Lake Elementary School District November 8, 2012

2. Background During the 2012 calendar year, the District has taken steps to address its long term financing commitments: –Issuance of 2012 A COPs –Issuance of 2012 B COPs Slide 2

3. 2012 A COPs In June, the District issued 2012 A COP to: –Refinanced 2007 Bond Anticipation Note issued by CFD No. 1 –Fund $935,000 for the middle school site acquisition True Interest Cost 4.45% Can prepay at par on or after Sept. 1, 2022 Final Maturity Sept. 1, 2042 Slide 3

4. 2012 B COPs On November 1, the District issued $6.58 million of 2012 B COPs to refinance the 2007 COPs –Refunded $6,555,000 –True interest cost of less than 3.8% –Shift maturity date from June 1, 2037 to Sept. 1, 2037 –Can prepay at par on or after Sept. 1, 2022 Purpose of the refinance was to save money Slide 4

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9. Future Development Needed to Fund Shortfall Slide 9 New units represent minimum future development required to fully cover debt service Special tax revenue from new development may further reduce general fund liability

10. Questions? Page 10