School Bonding Program and Bond Debt Service Discussion
$144,539,200
30yr Lvl Prin
$250,000,000|
$172,251,200
$7,226,960
40%
$7,625,740
40%
$5,741,707
40%
Example Aggregate Cost to State Assuming 40% Subsidy*
Summary of Scenarios Assuming 40% State Subsidy
Scenario 20yr Lvl Prin
Project Funds
Total Subsidy Amount
Avg Annual Subsidy
Subsidy Level
$250,000,000
20yr Lvl D/S
$250,000,000
$152,514,800
30yr Lvl D/S 25,000,000
$250,000,000|
$192,005,800 20,000,000
$6,400,193 15,000,000
20-Year Level Principal Amortization
40%
10,000,000
Annual Debt Service Schedules
5,000,000
Year
20yr Lvl Prin
20yr Lvl D/S
30yr Lvl Prin
30yr Lvl D/S
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2024
$4,739,600
$3,811,800
$4,044,300
$3,199,700
2025
4,621,100
3,812,000
3,963,400
3,200,700
2026
4,502,600
3,812,600
3,882,500
3,199,800
State Share Local Share
20-Year Level Debt Service Amortization
2027
9,123,700
7,625,200
7,845,900
2028
8,886,700
7,624,200
7,684,100
2029
8,649,700
7,625,500
7,522,300
6,400,700 25,000,000
6,400,800 20,000,000
6,400,900
2030
8,412,700
7,626,600
7,360,500
6,400,800 15,000,000
2031
8,175,700
7,625,100
7,198,700
6,400,300 10,000,000
2032
7,938,700
7,626,700
7,036,900
6,401,200
2033
7,701,700
7,626,800
6,875,100
6,399,200
5,000,000
2034
7,464,700
7,625,000
6,713,300
6,400,200
0
2035
7,227,700
7,626,900
6,551,500
6,399,800
2036
6,990,700
7,625,800
6,389,700
6,399,800
2037
6,753,700
7,625,300
6,227,900
6,399,900
State Share Local Share
30-Year Level Principal Amortization
25,000,000
2038
6,516,700
7,626,800
6,066,100
6,399,800
2039
6,279,700
7,625,600
5,904,300
6,401,200 20,000,000
2040
6,040,700
7,625,200
5,742,500
6,399,700
15,000,000
2041
5,803,800
7,626,900
5,580,700
6,401,100
2042
5,566,900
7,625,900
5,418,900
2043
5,328,000
7,625,600
5,257,100
6,400,900 10,000,000
6,400,800
5,000,000
2044
2,723,200
3,813,200
5,095,300
6,400,400
H
2045
2,604,800
3,812,500
4,933,500
6,399,300
0
2046
2,486,400
3,813,600
4,771,700
6,401,100
2047
4,607,900
6,399,200
State Share Local Share
30-Year Level Debt Service Amortization
2048
4,446,200
6,399,300
20,000,000
2049
4,284,500
6,400,800
2050
4,120,800
6,399,100
15,000,000
2051
3,959,200
6,399,800
2052
3,797,600
6,400,200 10,000,000
2053
3,636,000
6,399,700
2054
1,858,400
3,199,700 5,000,000
2055
1,777,600
3,199,500
2056
1,696,800
3,200,400
Total
$144,539,200
$152,514,800 $172,251,200 $192,005,800
* Unlike Rhode Island, assumes immediate payment of the subsidy from the State.
0
State Share
Local Share
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