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Financing Plan Assumptions and Estimated Tax Impact Crookston Public Schools

Financing Plan Assumptions and Estimated Tax Impact Crookston Public Schools. Presented by Don E. Lifto, Ph.D., Senior Vice President Springsted Incorporated. Key Financing Assumptions. Sale of general obligation bonds in December 2013 Estimated par amount of bonds - $14,000,000

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Financing Plan Assumptions and Estimated Tax Impact Crookston Public Schools

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  1. Financing Plan Assumptions and Estimated Tax Impact Crookston Public Schools Presented by Don E. Lifto, Ph.D., Senior Vice President Springsted Incorporated

  2. Key Financing Assumptions • Sale of general obligation bonds in December 2013 • Estimated par amount of bonds - $14,000,000 • General obligation bonds (subject to referendum) • Alternative facility general obligation bonds (health and safety projects) • Capital facilities general obligation bonds (deferred maintenance) • 20 – year term • Estimated interest rate – 4.10% (current plus 25 bps for padding between now and sale)

  3. Key Financing Assumptions cont. • “Wrap-around” debt service taking advantage of $1,085,935 dropping off the tax roles in 2015 when high school bonds are paid off • Very conservative assumption about future growth in tax base (0%inflation assumption)

  4. Estimated Tax Impacts - $14,000,000 *Estimate based on land value of $3,500/acre and $100,000 value of house, garage and one acre

  5. Additional Information or for Questions Don E. Lifto, Senior Vice President 651-223-3067 dlifto@springsted.com Patty Heminover, Vice President 651-223-3058 pheminover@springsted.com

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