2. Average annual payments are approximately $4.7 million through 2027 District completed a refinancing in 2014 that reduced debt payments by over $1 million Additional refinancing to be approved by the Board in March that would reduce payments by an additional $1-$1.7 million -- draft --

4. Moody’s “Aa2” rating Credit Strengths – Large and diverse tax base – Strong local economy, as well as proximity to Milwaukee metropolitan area – Strong financial management – Positive enrollment trends – Manageable fixed costs, including debt service – Below average debt burden Aaa Aa1 Aa2 Aa3 A1 A2 Moody’s Rating Categories # of WI School Districts in Rating Category A3 5 11 55 58 51 6 0 Baa11 Source: Moody’s Investors Service, July 2014 -- draft --

5. Project Scope Timing of Project Implementation Phasing of Financing Plan – 5 Years from referendum approval to borrow the money Analyze Historical Trends & Make Projections – Interest Rates – State Aids – Equalized Valuation – Existing Debt Payback Calculate Projected Mill Rate Impact -- draft --

9. Debt Service as a % of Total Operating ExpensesDebt Service per Student Average Debt Service per Student for all of WI school districts is $957 OASD is currently at $948 District’s Debt Service anticipated to increase due to recently passed or scheduled referendum.

10. Referenda TypeVote DateAmountRESULTSPURPOSE Issue Debt7/12/1994$1,500,000Passed Issue Debt11/8/1994$1,400,000Passed General maintenance Issue Debt5/23/1995$12,800,000Passed High school & middle school additions NR - 200211/7/2000$500,000Failed Operating expenses Issue Debt11/7/2000$44,500,000Failed Acquire land; construct 2 new elementary schools and 1 MS; add auditorium at HS; technology, furnishings, equipment RR - 200211/7/2000$875,000Failed Recurring purposes NR - 20112/20/2001$875,000Failed Non-recurring purposes Issue Debt2/20/2001$9,430,000Failed New elementary school Issue Debt2/20/2001$22,550,000Failed New middle school Issue Debt2/20/2001$4,630,000Failed Auditorium Issue Debt2/20/2001$9,950,000Passed New elementary school NR - 20079/10/2002$875,000Failed Maintain or reduce class sizes, replace outdated computers, maintain district facilities Issue Debt9/10/2002$23,500,000Failed Construct and equip new middle school Issue Debt11/7/2006$49,600,000Passed Two 5-8 schools, addition of auditorium and gymnasium to existing high school and refinancing outstanding obligations for high school electrical improvements and facility maintenance  4 referendum attempts successful since 1994