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Resolutions - 2007.06.14 - 28442
MISCELLANEOUS RESOLUTION # 07140 June 14, 2007 By: Finance Committee, Mike Rogers, Cnairperson IN RE: DRAIN COMMISSIONER — GEORGE W. KUHN DRAINAGE DISTRICT REFUNDING BONDS - FULL FAITH AND CREDIT To the Oakland County Board of Commissioners Chairperson, Ladies and Gentlemen WHEREAS the George W. Kuhn Drainage District previously has issued its Drain Bonds, Series 2000B, dated October 1, 2000 (the "Series 2000B Drain Bonds") in the principal amount of $6,570,000, and this Board of Commissioners, by Resolution No. 00188 adopted on July 1, 2000, pledged the full faith and credit of the County of Oakland (the "County") for the prompt payment of the principal of and interest on the Series 2000B Drain Bonds; and WHEREAS the George W. Kuhn Drainage District previously has issued its Drain Bonds, Series 2001E, dated January 1, 2002 (the "Series 2001E Drain Bonds") in the principal amount of $9,870,000, and this Board of Commissioners, by Resolution No. 01201 adopted on August 2, 2001, pledged the full faith and credit of the County of Oakland (the "County") for the prompt payment of the principal of and interest on the Series 2001E Drain Bonds; and WHEREAS the Drainage Board for the George W. Kuhn Drain (the "Drainage Board"), by resolution adopted on May 22, 2007, authorized and provided for the issuance by the George W. Kuhn Drainage District of its Drain Refunding Bonds, Series 2007 (the "Refunding Bonds"), in the aggregate principal amount of not to exceed $13,500,000 to refund all or a portion of the Series 2000B Drain Bonds maturing in the years 2010 through 2022 and the Series 2001E Drain Bonds maturing in the years 2013 through 2024; and WHEREAS, the Refunding Bonds will be dated as of such date, will bear interest at such rates not to exceed 6% per annum, will be in the aggregate principal amount, will mature in such years and principal amounts, and will be subject to redemption prior to maturity as shall be determined by the Drainage Board at the time of sale; and WHEREAS the Drainage Board deems it advisable and necessary to obtain from this Board an resolution pledging the full faith and credit of the County for the payment of the principal of and interest on the Refunding Bonds; and WHEREAS it is in the best interest of the County that the Refunding Bonds be sold in order to achieve debt service savings for the City of Berkley, the City of Birmingham, the City of Clawson, the City of Ferndale, the City of Hazel Park, the City of Huntington Woods, the City of Madison Heights, the City of Oak Park, the City of Pleasant Ridge, the City of Royal Oak, the City of Southfield, the City of Troy, the Township of Royal Oak, the Village of Beverly Hills and the County. FINANCE COMMITTEE Motion carried unanimously on a roll call vote. NOW THEREFORE BE IT RESOLVED: 1. Pursuant to the authorization provided in Section 474 of the Drain Code of 1956, as amended, the Board of Commissioners of the County hereby pledges irrevocably the full faith and credit of the County for the prompt payment of the principal of and interest on the Refunding Bonds and agrees that, in the event the City of Berkley, the City of Birmingham, the City of Clawson, the City of Ferndale, the City of Hazel Park, the City of Huntington Woods, the City of Madison Heights, the City of Oak Park, the City of Pleasant Ridge, the City of Royal Oak, the City of Southfield, the City of Troy, the Township of Royal Oak, the Village of Beverly Hills or the County shall fail or neglect to account to the County Treasurer of the County for the amount of any special assessment installment and interest when due, the amount thereof shall be advanced immediately from County funds, and the County Treasurer is directed to make such advancement to the extent necessary. 2. In the event that, pursuant to the pledge of full faith and credit, the County advances out of County funds all or any part of an installment and interest, it shall be the duty of the County Treasurer, for and on behalf of the County, to take all actions and proceedings and pursue all remedies permitted or authorized by law for the reimbursement of such sums so paid. 3. The County Treasurer or the financial consultant, Municipal Financial Consultants Incorporated, is authorized, if necessary to make application to the Department of Treasury for permission to issue and sell the Bonds. 4. The County Treasurer is authorized to approve the circulation of a preliminary and final official statement for the Refunding Bonds, to cause the preparation of those portions of the preliminary and final official statement that pertain to the County, and to do all other things necessary for compliance with Rule 15c2-12 issued under the Securities Exchange Act of 1934, as amended (the "Rule") . The County Treasurer is authorized to execute and deliver such certificates and to do all other things that are necessary to effectuate the sale and delivery of the Refunding Bonds. 5. The County Treasurer is hereby authorized to execute and deliver in the name and on behalf of the County (i) a certificate of the County to comply with the requirements for a continuing disclosure undertaking of the County pursuant to subsection (b) (5) of the Rule and (ii) amendments to such certificate from time to time in accordance with the terms of such certificate (the certificate and any amendments thereto are collectively referred to herein as the "Continuing Disclosure Certificate"). The County hereby covenants and agrees that it will comply with and carry out all of the provisions of the Continuing Disclosure Certificate. The remedies for any failure of the County to comply with and carry out the provisions of the Continuing Disclosure Certificate shall be as set forth therein. Mr. Chairperson, on behalf of the Finance Committee, I move adoption of the foregoing resolution. FINANCE COMMITTEE -2- LaVerne Smith From: Robert Daddow [daddowr@oakgov.com ] Sent: Tuesday, May 22, 2007 5:08 PM To: 'Tim Soave': 'Fournier, Nancy (fourniern@oakgov.com )'; 'LaVerne Smith' Subject: FW: Sublease presentation Fast track the CMH bonds. RJD Original Message From: MIKE ROGERS [mailto:mike@Sse.biz] Sent: Tuesday, May 22, 2007 4:38 PM To: 'Robert Daddow'; 'Laurie VanPelt; 'GRIFFITHS, Mary' Cc: 'Ross, John '; 'John Axe'; 'Pat Dohany'; douglas@eesc.com ; "John McCulloch' Subject: RE: Sublease presentation Bob, Not a problem, we have to do what has to be done. Let's put it on the fast track. Mike Rogers 5 Star Engineering, P.C. 1249 Washington Blvd, Suite 1700 Detroit, MI 48226 P 313-224-9700, ext 301 F 313-224-4848 MDOT Prequalified MMBDC Certified MDOT DBE Certified From: Robert Daddow [mailto:daddowr@oakgov.corn] Sent: Tuesday, May 22, 2007 3:48 PM To: 'Laurie VanPelt; 'GRIFFITHS, Mary' Cc: 'Ross, John '; 'John Axe'; 'Pat Dohany'; douglas@eesc.com ; "John McCulloch'; Mike Rogers Subject: RE: Sublease presentation Actually, the closing procedures once approved by the Board really rest in the Treasury operation — Pat Dohany's shop — to finalize and bind the County at the very last point in the process. When CMH approves their resolution this week, please send a notarized version to John Axe and Pat Dohany for their files. We need to get the resolution to the Board offices for mail-out by Tuesday of next week to get on the agenda. Sue — last fall, we got the blessing to move ahead with the bonding from the Board for CM H's acquisition of roughly 18 existing group homes that could save CMH about $150K annually. The agreements are just now being finalized and we would like to take this one to the P&B Committee on the below date. Mike — given the month delay from the below P&B Committee meeting until mid-July (next round of committee meetings) it would seem that this effort, which was already discussed and actions taken to move ahead with the process previously by the Board, is the conclusion of an already approved project. I would hope you can see fit to allow us to fast-track this one from P&B to Finance in the same week. RJD Original Message 5/23/2007 5 Yahoo! Registration Confirmation rage I or I 0 0 ! Yahool - Help Your Yahoo! ID: sistanae Your Yahoo! Mail Address: sistanae@yahoo.com Registration Completed: Welcome sistanae! 0 A confirmation message has been sent to the Email Address you provided. Please read the email and follow the instructions to fully activate your account. We also recommend that you print out this page for future reference. O If you forget your password you will be asked for the following information. Security Question: What was your high school mascot? Your Answer: viking Date of Birth: April 11, 1960 ZIP/Postal Code: 48154 O Your Marketing Preferences: Select and customize the categories of communications you receive about Yahoo! Products and services. You can also choose to opt-out of each. Edit Marketing Preferences Yes, get Yahoo! Toolbar and search the web from anywhere. Continue without installing Yahoo! Toolbar Copyright © 2007 Yahoo! Inc All rights reserved. Copyright/IP Policy Terms of Service NOTICE: We collect personal information on this site. To iearn more about how we use your information, see our Privacy Policy 7 https://edit.yahoo.com/config/last?.t=8NQXNn yDneD3cgtyY8J08nnEpptTlcZWZIHd5NPWq48... 5/23/2007 Fiscal Total Date Interest Principal Coupon 4.08692% Present Value Debt Service Total Debt Service 11111111111411.1111. nnn••nn•n•n•n•n• NMI nn• $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 NEW DEBT SERVICE 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $235,000.00 4.000% 65,000.00 4.000% 340,000.00 4.000% 365,000.00 4.000% 365,000.00 4.000% 840,000.00 4.000% 860,000.00 4.000% 880,000.00 4.000% 925,000.00 4.000% 970,000.00 4.000% 1,010,000.00 4.000% 1,025,000.00 4.100% 1,060,000.00 4.100% 1,100,000.00 4.150% 1,155,000.00 4.150% 675,000.00 4.200% 685,000.00 4.200% L12.5.55-4.20M $85,064.58 $85,064.58 255,193.75 490,193.75 250,493.75 250,493.75 250,493.75 315,493.75 249,193.75 249,193.75 249,193.75 589,193.75 242,393.75 242,393.75 242,393.75 607,393.75 235,093.75 235,093.75 235,093.75 600,093.75 227,793.75 227,793.75 227,793.75 1,067,793.75 210,993.75 210,993.75 210,993.75 1,070,993.75 193,793.75 193,793.75 193,793.75 1,073,793.75 176,193.75 176,193.75 176,193.75 1,101,193.75 157,693.75.. 157,693.75 157,693.75 1,127,693.75 138,293.75 138,293.75 138,293.75 1,148,293.75 118,093.75 118,093.75 118,093.75 1,143,093.75 97,081.25 97,081.25 97,081.25 1,157,081.25 75,351.25 75,351.25 75,351.25 1,175,351.25 52,526.25 52,526.25 52,526.25 1,207,526.25 28,560.00 28,560.00 28,560.00 703,560.00 14,385.00 14,385.00 14,385.00 699,385.00 $575,258.33 565,987.50 838,387.50 849,787.50 835,187.50 1,295,587.50 1,281,987.50 1,267,587.50 1,277,387.50 1,285,387.50 1,286,587.50 1,261,187.50 1,254,162.50 1,250,702.50 1,260,052.50 732,120.00 713,770.00 $84,568.93 477,578.38 239,160.03 295,187.05 228,485.43 529,412.66 213,438.34 524,126.55 198,802.46 497,295.57 184,991.65 849,791.76 164,554.42 818,543.44 145,147.44 788,143.53 126,733.02 776,207.50 108,928.97 763,369.70 91,740.50 746,494.13 75,234.17 713,649.39 59,395.46 693,739.71 44,272.90 676,752.74 29,638.32 667,711.08 15,476.22 373,613.70 7,485.94 356,670.85 $ ,2 6,121.33. $17,831,128,3 $1_7,831_128,33 Dated Date: 08/01/07 Closing Date: 08/09/07 Principal: Accrued Interest: Credit Enhancement: Orig Issue Prem/(Disc): $12,555,000.00 11,341.94 0.00 0.00 $12.566.341.94 ded\refund\Oakland\George Kuhn Combined.xls 5/23/2007 9 Principal Coupon Interest Date $6,570,000 George W. Kuhn Drainage District Drain Bonds, Series 2000B REMAINING ORIGINAL DEBT SERVICE SCHEDULE $250,000.00 5.000% 275,000.00 5.000% 275,000.00 5.000% 300,000.00 5.000% 300,000.00 5.000% 325,000.00 5.000% 350,000.00 5.100% 350,000.00 5.200% 375,000.00 5.250% 400,000.00 5.300% 425,000.00 5.350% 425,000.00 5.375% 450,000.00 5.375% 475,000.00 5.375% 495,000.00 5.375% $5.470.000.00 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 $142,546.88 142,546.88 136,296.88 136,296.88 129,421.88 129,421.88 122,546.88 122,546.88 115,046.88 115,046.88 107,546.88 107,546.88 99,421.88 99,421.88 90,496.88 90,496.88 81,396.88 81,396.88 71,553.13 71,553.13 60,953.13 60,953.13 49,584.38 49,584.38 38,162.50 38,162.50 26,068.75 26,068.75 13,303.13 13,303.13 Total Debt Service $142,546.88 392,546.88 136,296.88 411,296.88 129,421.88 404,421.88 122,546.88 422,546.88 115,046 88 415,046.88 107,546.88 432,546.88 99,421.88 449,421.88 90,496.88 440,496.88 81,396.88 456,396.88 71,553.13 471,553.13 60,953.13 485,953.13 49,584.38 474,584.38 38,162.50 488,162.50 26,068.75 501,068.75 13,303.13 508,303.13 Fiscal Total $535,093.75 547,593.75 533,843.75 545,093.75 530,093.75 540,093.75 548,843.75 530,993.75 537,793.75 543,106.25 546,906.25 524,168.75 526,325.00 527,137.50 521,606.25 4.08692% Present Value Debt Service $141,716.29 382,444.49 130,130.05 384,823.82 118,666.75 363,388.21 107,907.90 364,620.21 97,287.15 343,947.88 87,338.98 344,237.61 77,539.31 343,485.97 67,780.26 323,316.06 58,547.32 321,704.22 49,426.23 319,208.45 40,434.73 315,913.20 31,588.80 296,289.65 23,348.27 292,682.74 15,316.79 288,509.20 7,506.39 281,070.19 $8,08693.75 $8,038,5975, $6020177.11 dethrefund \Oakland \George Kuhn Combined.xls 5/23/2007 1 1 Total Date Series 2000B Series 2001E Debt Service 4.08692% Present Value Debt Service Fiscal Total /1111111111114111111111111 •n••••11•1•11MMIIInn...01IIN WM, nnnn•=Z George W. Kuhn Drainage District Drain Bonds, Series 2000B and Series 2001E COMBINED REMAINING ORIGINAL DEBT SERVICE SCHEDULE $1,348,206.25 1,343,831.25 1,338,206.25 1,331,456.25 1,323,456.25 1,338,906.25 1,326,506.25 1,312,056.25 1,320,581.25 1,325,893.75 1,327,918.75 1,302,131.25 1,299,675.00 1,294,287.50 1,306,256.25 774,550.00 757,800.00 10/01/07 $142,546.88 $219,056.25 04/01/08 392,546.88 594,056.25 10/01/08 136,296.88 210,618.75 04/01/09 411,296.88 585,618.75 10/01/09 129,421.88 202,181.25 04/01/10 404,421.88 602,181.25 10/01/10 122,546.88 193,181.25 04/01/11 422,546.88 593,181.25 10/01/11 115,046.88 184,181.25 04/01/12 415,046.88 609,181.25 10/01/12 107,546.88 174,406.25 04/01/13 432,546.88 624,406.25 10/01/13 99,421.88 163,831.25 04/01/14 449,421.88 613,831.25 10/01/14 90,496.88 153,031.25 04/01/15 440,496.88 628,031.25 10/01/15 81,396.88 141,393.75 04/01/16 456,396.88 641,393.75 10/01/16 71,553.13 128,893.75 04/01/17 471,553.13 653,893.75 10/01/17 60,953.13 115,506.25 04/01/18 485,953.13 665,506.25 10/01/18 49,584.38 101,481.25 04/01/19 474,584.38 676,481.25 10/01/19 38,162.50 86,675.00 04/01/20 488,162.50 686,675.00 10/01/20 26,068.75 71,075.00 04/01/21 501,068.75 696,075.00 10/01/21 13,303.13 54,825.00 04/01/22 508,303.13 729,825.00 10/01/22 37,275.00 04/01/23 737,275.00 10/01/23 18,900.00 04/01/24 738,900.00 $361,603.13 986,603.13 346,915.63 996,915.63 331,603.13 1,006,603.13 315,728.13 1,015,728.13 299,228.13 1,024,228.13 281,953.13 1,056,953.13 263,253.13 1,063,253.13 243,528.13 1,068,528.13 222,790.63 1,097,790.63 200,446.88 1,125,446.88 176,459.38 1,151,459.38 151,065.63 1,151,065.63 124,837.50 1,174,837.50 97,143.75 1,197,143.75 68,128.13 1,238,128.13 37,275.00 737,275.00 18,900.00 738,900.00 $359,496.14 961,212.42 331,219.25 932,749.32 304,046.48 904,470.62 278,012.48 876,482.64 253,036.44 848,774.24 228,974.56 841,164.37 205,311.61 812,627.40 182,397.44 784,278.67 160,249.32 773,808.71 138,461.24 761,848.73 117,058.60 748,552.07 96,239.61 718,626.34 76,377.06 704,385.65 57,077.16 689,300.60 38,441.79 684,632.63 20,198.75 391,517.48 9,835.54 376,822.63 $836.,593,75, $133330250O $21,371,718.75 $21,371,718 Z5. 115.517..232.2i ded\refund\Oakland\George Kuhn Combined.xls 5/23/2007 13 $9,870,000 George W. Kuhn Drainage District Drain Bonds, Series 2001E REMAINING NON-REFUNDED ORIGINAL DEBT SERVICE SCHEDULE 4.08692% Total Fiscal Present Value Date Principal Coupon Interest Debt Service Total Debt Service 10/01/07 $44,650.00 $44,650.00 $44,389.83 04/01/08 $375,000.00 4.500% 44,650.00 419,650.00 $464,300.00 408,850.11 10/01/08 36,212.50 36,212.50 34,574.05 04/01/09 375,000.00 4.500% 36,212.50 411,212.50 447,425.00 384,744.88 10/01/09 27,775.00 27,775.00 25,466.86 04/01/10 400,000.00 4.500% 27,775.00 427,775.00 455,550.00 384,371.86 10/01/10 18,775.00 18,775.00 16,532.21 04/01/11 400,000.00 4.500% 18,775.00 418,775.00 437,550.00 361,365.42 10/01/11 9,775.00 9,775.00 8,266.04 04/01/12 425,000.00 4.600% 9,775.00 434,775.00 444,550.00 360,296.51 $1.975.000.00 $274.375.00 $2.249,375.00 $2249375.00 $2.028.857.76 ded\refund\Oakland\George Kuhn Combined.xls 5/23/2007 15 $6,570,000 George W. Kuhn Drainage District Drain Bonds, Series 2000B REDEMPTION SCHEDULE Redemption Premium: 0.00% Redeemed Redemption Total Fiscal 4.08692% Date Principal Interest Principal Premium Debt Service Total Present Value 10/01/07 $129,421.88 $129,421.88 $128,667.76 04/01/08 129,421.88 129,421.88 $258,843.75 126,091.14 10/01/08 129,421.88 129,421.88 123,566.12 04/01/09 129,421.88 $4,945,000.00 $0.00 5,074,421.88 5,203,843.75 4,747,807.56 ID,42 $517.,687,50 $4,945,900.op, ELDil $5,462,687.50 /5-45,101.5.0. 2,11211,22.58 ded\refund\Oakland\George Kuhn Combined.xis 5/23/2007 17 Combined Combined Date Principal Interest Combined Redeemed Principal Combined Redemption Premium Combined Total Debt Service 4.08692% Present Value Fiscal Total .11 .1.1141.11111111 ilM•111••••"7111••••111111 George W. Kuhn Drainage District Drain Bonds, Series 2000B and Series 2001E COMBINED REDEMPTION SCHEDULE $4,945,000.00 6,845,000.00 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 $303,828.13 303,828.13 303,828.13 303,828.13 174,406.25 174,406.25 174,406.25 174,406.25 174,406.25 174,406.25 $303,828.13 303,828.13 303,828.13 $0.00 5,248,828.13 174,406.25 174,406.25 174,406.25 174,406.25 174,406.25 $0.00 7,019,406.25 $607,656.25 5,552,656.25 348,812.50 348,812.50 7,193,812.50 $302,057.79 296,008.96 290,081.27 4,910,988.19 159,912.87 156,710.55 153,572.36 150,497.01 147,483.25 5,816,957.21 $0,00 $2.261.750,00 $11.790.000.00 $0.00 $14.051.750.00 $14.051 750.00 $12 384.269 46 ded\refund\Oakland\George Kuhn Combined.xls 5/23/2007 19 1111111111111161111111111111 •••••--OEM GEORGE W. KUHN DRAINAGE DISTRICT DRAIN REFUNDING BONDS, SERIES 2007 Estimated Net Savings, and Principal & Interest Schedules for each Unit as of May 23, 2007 FOR ADDITIONAL INFORMATION PLEASE WRITE OR CALL: Municipal Financial Consultants Incorporated Suite 360 21 Kercheval Avenue Grosse Pointe Farms, Michigan 48236 (313) 884-1550 or 1-800-383-MFCI (6324) Fax (313) 884-0626 21 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 Summary of Net Savings per Unit Unit Amount City of Berkley City of Birmingham City of Clawson City of Ferndale City of Hazel Park City of Huntington Woods City of Madison Heights City of Oak Park City of Pleasant Ridge City Royal Oak City of Southfield City of Troy Township of Royal Oak Village of Beverly Hills County of Oakland $ 46,451.54 34,954.89 42,415.47 73,640.84 16,141.50 23,099.90 77,609.00 96,647.99 9,582.83 213,540.99 55,224.34 18,863.55 11,884.72 5,987.86 11,511.94 Total $737,557.36 Ill 23 11111•1111MIN4IMININ •nnnnnnn•nn-.01.11= MEM .•n•••• •••••••n•n••n•••n•••n dethrefund\oakland\George Kuhn 2007 Refund Breakdowns.xls 2 5/23/2007 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) City of Berkley Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts Series 2000B Non-Refunded Debt @ 6.29784% Date Principal Interest Series 2001E Non-Refunded Debt @ 6.29784% Principal Interest Refunding Bonds New Debt Service @ 6.29784% Principal Interest Total Debt Service 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $826.59 $2,811.99 $15,745.00 826.59 $23,617.00 2,811.99 $14,800.00 432.98 2,280.61 17,319.00 432.98 23,617.00 2,280.61 4,094.00 1,749.23 25,191.00 1,749.23 21,413.00 1,182.42 25,191.00 1,182.42 22,987.00 615.61 26,766.00 615.61 22,987.00 52,902.00 54,161.00 55,421.00 58,255.00 61,089.00 63,608.00 64,553.00 66,757.00 69,276.00 72,740.00 42,510.00 43,140.00 $31064,Q0 $2,519,14 '.0=2S0 a7,229. $790,693,00, $4,642.93 16,071.69 15,775.70 15,775.70 15,693.82 15,693.82 15,265.57 15,265.57 14,805.83 14,805.83 14,346.09 14,346.09 13,288.05 13,288.05 12,204.82 12,204.82 11,096.40 11,096.40 9,931.30 9,931.30 8,709.52 8,709.52 7,437.36 7,437.36 6,114.02 6,114.02 4,745.50 4,745.50 3,308.02 3,308.02 1,798.66 1,798.66 905.94 905.94 $331,55732 $8,281.51 73,872.27 18,489.29 63,519.29 17,443.05 64,047.05 16,447.99 64,625.99 15,421.44 65,174.44 14,346.09 67,248.09 13,288.05 67,449.05 12,204.82 67,625.82 11,096.40 69,351.40 9,931.30 71,020.30 8,709.52 72,317.52 7,437.36 71,990.36 6,114.02 72,871.02 4,745.50 74,021.50 3,308.02 76,048.02 1,798.66 44,308.66 905.94 44,045.94 $1,299.505.68 * Actual George Kuhn Drain Projects Portion: 6.1597% 25 1101111.1.411111111.11 MINIM 11•10. 011111•0 ...nn••••nn•• ded\refund\oakland\George Kuhn 2007 Refund Breakdowns.xls 4 5/23/2007 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) City of Birmingham Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts Series 2000B Non-Refunded Debt @ 4.73935% Date Principal Interest Series 2001E Non-Refunded Debt @ 4.73935% Principal Interest Refunding Bonds New Debt Service @ 4.73935% Principal Interest Total Debt Service $2,116.12 2,116.12 1,716.24 1,716.24 1,316.35 1,316.35 889.81 889.81 463.27 463.27 $622.04 622.04 325.83 13,033.00 325.83 $24,8$1,00, $1,695.74 $93,602.00 113-0__Q 10/01/07 04/01/08 $11,848.00 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $17,773.00 17,773.00 18,957.00 18,957.00 20,142.00 $11,137.00 3,081.00 16,114.00 17,299.00 17,299.00 39,811.00 40,758.00 41,706.00 43,839.00 45,972.00 47,867.00 48,578.00 50,237.00 52,133.00 54,739.00 31,991.00 32,465.00 $595,026.•Q $3,493.97 12,094.52 11,871.78 11,871.78 11,810.16 11,810.16 11,487.89 11,487.89 11,141.92 11,141.92 10,795.94 10,795.94 9,999.73 9,999.73 9,184.56 9,184.56 8,350.44 8,350.44 7,473.66 7,473.66 6,554.22 6,554.22 5,596.88 5,596.88 4,601.02 4,601.02 3,571.16 3,571.16 2,489.40 2,489.40 1,353.56 1,353.56 681.76 681.76 $6,232.13 55,590.68 13,913.85 47,800.85 13,126.51 48,197.51 12,377.70 48,633.70 11,605.19 49,046.19 10,795.94 50,606.94 9,999.73 50,757.73 9,184.56 50,890.56 8,350.44 52,189.44 7,473.66 53,445.66 6,554.22 54,421.22 5,596.88 54,174.88 4,601.02 54,838.02 3,571.16 55,704.16 2,489.40 57,228.40 1,353.56 33,344.56 681.76 33,146.76 19,77224,..92 * Actual George Kuhn Drain Projects Portion: 4.6354% 27 MIL /1111111111•1n11•111 nn•nnnn•n11111•11••n WM= NOM Refunding Bonds New Debt Service @ 5.75105% Principal Interest Total Debt Service $Z800. 42 Ella= $21,566.00 21,566.00 23,004.00 23,004.00 24,442.00 $2,567.84 2,567.84 2,082.60 2,082.60 1,597.35 1,597.35 1,079.76 1,079.76 562.17 562.17 ded\refund\oakland \George Kuhn 2007 Refund Breakdowns.xls 6 5/23/2007 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) City of Clawson Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts Date 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 Series 2000B Non-Refunded Debt @ 5.75105% Principal Interest $754.83 $14,378.00 754.83 395.38 15,815.00 395.38 Series 2001E Non-Refunded Debt @ 5.75105% Principal Interest $13,515.00 3,738.00 19,554.00 20,991.00 20,991.00 48,309.00 49,459.00 50,609.00 53,197.00 55,785.00 58,086.00 58,948.00 60,961.00 63,262.00 66,425.00 38,820.00 39,395.00 115,119,214 $722,045_00 $4,239.83 $7,562.50 14,676.32 67,457.99 14,406.02 16,884.00 14,406.02 58,003.00 14,331.26 15,928.61 14,331.26 58,486.61 13,940.19 15,019.95 13,940.19 59,014.95 13,520.36 14,082.53 13,520.36 59,515.53 13,100.53 13,100.53 13,100.53 61,409.53 12,134.36 12,134.36 12,134.36 61,593.36 11,145.18 11,145.18 11,145.18 61,754.18 10,132.99 10,132.99 10,132.99 63,329.99 9,069.05 9,069.05 9,069.05 64,854.05 7,953.34 7,953.34 7,953.34 66,039.34 6,791.63 6,791.63 6,791.63 65,739.63 5,583.19 5,583.19 5,583.19 66,544.19 4,333.49 4,333.49 4,333.49 67,595.49 3,020.81 3,020.81 3,020.81 69,445.81 1,642.50 1,642.50 1,642.50 40,462.50 827.29 827.29 827.29 40,222.29 l302780._53. $1.186.680.39 $113,562.00 *Actual George Kuhn Drain Projects Portion: 5.6249% 29 VIII INNI1111111111n1111111 OIMINI• IMP =OM. nn•• $1,310.47 1,310.47 686.43 686.43 $37,442.00 37,442.00 39,938.00 39,938.00 42,434.00 $4,458.08 4,458.08 3,615.64 3,615.64 2,773.19 2,773.19 1,874.59 1,874.59 975.98 975.98 ded\refund\oakland\George Kuhn 2007 Refund Breakdowns.xls 8 5/23/2007 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) City of Ferndale Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts Series 2000B Non-Refunded Debt @ 9.98450% Date Principal Interest Series 2001E Non-Refunded Debt @ 9.98450% Principal Interest Refunding Bonds New Debt Service @ 9.98450% Principal Interest Total Debt Service $7,360.84 $13,129.39 25,479.82 117,115.37 25,010.55 29,312.62 25,010.55 100,701.62 24,880.75 27,653.94 24,880.75 101,538.94 24,201.80 26,076.39 24,201.80 102,457.39 23,472.94 24,448.92 23,472.94 103,325.92 22,744.07 22,744.07 22,744.07 106,614.07 21,066.67 21,066.67 21,066.67 106,933.67 19,349.34 19,349.34 19,349.34 107,213.34 17,592.06 17,592.06 17,592.06 109,949.06 15,744.93 15,744.93 15,744.93 112,594.93 13,807.94 13,807.94 13,807.94 114,650.94 11,791.07 11,791.07 11,791.07 114,132.07 9,693.08 9,693.08 9,693.08 115,529.08 7,523.45 7,523.45 7,523.45 117,353.45 5,244.48 5,244.48 5,244.48 120,565.48 2,851.57 2,851.57 2,851.57 70,246.57 1,436.27 1,436.27 1,436.27 69,830.27 $197,194.00 $27,94,96 1241102 ..a,993,80 10/01/07 04/01108 $24,961.00 10/01/08 04/01/09 27,457.00 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $23,464.00 6,490.00 33,947.00 36,443.00 36,443.00 83,870.00 85,867.00 87,864.00 92,357.00 96,850.00 100,843.00 102,341.00 105,836.00 109,830.00 115,321.00 67,395.00 68,394.00 $1,253,555,00 $5262,50 I2 Z12.1125 *Actual George Kuhn Drain Projects Portion: 9.7655% 31 /11111111111111141.1111• =1.1•n•n =,11, n•n-n = n••n•n ded\refund\oakland\George Kuhn 2007 Refund Breakdowns.xls 10 5/23/2007 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) City of Hazel Park Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts Series 2000B Non-Refunded Debt @ 2.18871% Principal Interest $287.27 $5,472.00 287.27 150.47 6,019.00 150.47 111.49.34aQ $75.48 Date 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 Series 2001E Non-Refunded Debt @ 2.18871% Principal Interest $977.26 977.26 792.59 792.59 607.91 607.91 410.93 410.93 213.95 213.95 $43,228.00 ,$6,005.28 Refunding Bonds New Debt Service @ 2.18871% Principal Interest $5,143.00 1,423.00 7,442.00 7,989.00 7,989.00 18,385.00 18,823.00 19,261.00 20,246.00 21,230.00 22,106.00 22,434.00 23,200.00 24,076.00 25,280.00 14,774.00 14,993.00 $274,794.00 Ltazauz Total Debt Service $2,878.10 25,672.98 6,425.64 22,075.64 6,062.04 22,259.04 5,716.23 22,460.23 5,359.47 22,650.47 4,985.74 23,370.74 4,618.04 23,441.04 4,241.58 23,502.58 3,856.37 24,102.37 3,451.46 24,681.46 3,026.85 25,132.85 2,584.73 25,018.73 2,124.83 25,324.83 1,649.22 25,725.22 1,149.65 26,429.65 625.10 15,399.10 314.85 15,307.85 1.451.C2210 $8,208.00 8,208.00 8,755.00 8,755.00 9,302.00 $1,613.57 5,585.45 5,482.58 5,482.58 5,454.13 5,454.13 5,305.30 5,305.30 5,145.52 5,145.52 4,985.74 4,985.74 4,618.04 4,618.04 4,241.58 4,241.58 3,856.37 3,856.37 3,451.46 3,451.46 3,026.85 3,026.85 2,584.73 2,584.73 2,124.83 2,124.83 1,649.22 1,649.22 1,149.65 1,149.65 625.10 625.10 314.85 314.85 " Actual George Kuhn Drain Projects Portion: 2.1407% 33 alli111.11411111111111.1 •n• n•••n Yang. g== $7,360.00 2,036.00 10,649.00 11,432.00 11,432.00 26,309.00 26,935.00 27,562.00 28,971.00 30,380.00 31,633.00 32,103.00 33,199.00 34,452.00 36,175.00 21,141.00 21,454.00 $393,223,00 $1.• ;9110 i64.1262,24 $11,745.00 11,745.00 12,528.00 12,528.00 13,311.00 $1,398.44 1,398.44 1,134.18 1,134.18 869.91 869.91 588.03 588.03 306.15 306.15 $61,85L00 $8,5W,42 $2,308.99 7,992.67 7,845.46 7,845.46 7,804.75 7,804.75 7,591.77 7,591.77 7,363.14 7,363.14 7,134.50 7,134.50 6,608.32 6,608.32 6,069.62 6,069.62 5,518.39 5,518.39 4,938.97 4,938.97 4,331.36 4,331.36 3,698.70 3,698.70 3,040.58 3,040.58 2,360.00 2,360.00 1,645.12 1,645.12 894.50 894.50 450.54 450.54 $4,118.51 36,737.19 9,194.97 31,588.97 8,674.66 31,851.66 8,179.80 32,139.80 7,669.29 32,412.29 7,134.50 33,443.50 6,608.32 33,543.32 6,069.62 33,631.62 5,518.39 34,489.39 4,938.97 35,318.97 4,331.36 35,964.36 3,698.70 35,801.70 3,040.58 36,239.58 2,360.00 36,812.00 1,645.12 37,820.12 894.50 22,035.50 450.54 21,904.54 ded\refund\oakland\George Kuhn 2007 Refund Breakdowns.xls 12 5/23/2007 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) City of Huntington Woods Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts • • Series 2000B Non-Refunded Debt @ 3.13200% Date Principal Interest Series 2001E Non-Refunded Debt @ 3.13200% Principal Interest Refunding Bonds New Debt Service @ 3.13200% Principal Interest Total Debt Service $411.08 411.08 215.33 215.33 10/01/07 04/01/08 $7,830.00 10/01/08 04/01/09 8,613.00 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 115,44.1N i1251,12 * Actual George Kuhn Drain Projects Portion: 3.0633% 35 111111 Ille111•111141111111 ••••n•n••nn•n••nnnn•• =. == ded\refund\oakland\George Kuhn 2007 Refund Breakdowns.xls 14 5/23/2007 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) City of Madison Heights Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts Series 2000B Non-Refunded Debt @ 10.52281% Date Principal Interest Series 2001E Non-Refunded Debt @ 10.52281% Principal Interest Refunding Bonds New Debt Service @ 10.52281% Principal Interest Total Debt Service 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $1,381.12 $26,307.00 1,381.12 723.44 28,938.00 723.44 $.55,245,0 $.4.209 12 $39,461.00 39,461.00 42,091.00 42,091.00 44,722.00 $4,698.43 4,698.43 3,810.57 3,810.57 2,922.71 2,922.71 1,975.66 1,975.66 1,028.60 1,028.60 $24,729.00 6,840.00 35,778.00 38,408.00 38,408.00 88,392.00 90,496.00 92,601.00 97,336.00 102,071.00 106,280.00 107,859.00 111,542.00 115,751.00 121,538.00 71,029.00 72,081.00 $7,757.69 26,853.55 26,358.98 26,358.98 26,222.18 26,222.18 25,506.63 25,506.63 24,738.47 24,738.47 23,970.30 23,970.30 22,202.47 22,202.47 20,392.55 20,392.55 18,540.53 18,540.53 16,593.81 16,593.81 14,552.39 14,552.39 12,426.78 12,426.78 10,215.68 10,215.68 7,929.07 7,929.07 5,527.24 5,527.24 3,005.31 3,005.31 1,513.71 1,513.71 $13,837.24 123,430.10 30,892.99 106,131.99 29,144.89 107,013.89 27,482.29 107,981.29 25,767.07 108,897.07 23,970.30 112,362.30 22,202.47 112,698.47 20,392.55 112,993.55 18,540.53 115,876.53 16,593.81 118,664.81 14,552.39 120,832.39 12,426.78 120,285.78 10,215.68 121,757.68 7,929.07 123,680.07 5,527.24 127,065.24 3,005.31 74,034.31 1,513.71 73,594.71 $20U26.00 $271 94 $554003.44 $2171294.50 * Actual George Kuhn Drain Projects Portion: 10.2920% 37 111111111111/111.11111111 nnn•n•••n•nn ••n•n•n•n••••nn•n •••n•n• =EN = = •••••n••••-•IMMI $1,719.84 $32,759.00 1,719.84 900.87 36,035.00 900.87 $49,138.00 49,138.00 52,414.00 52,414.00 55,690.00 $..L.224,0 $5,241 42 $258794.00 ded\refund\oakland\George Kuhn 2007 Refund Breakdowns.xls 16 5/23/2007 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) City of Oak Park Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts e) . Series 2000B Non-Refunded Debt @ 13.10351% Date Principal Interest Series 2001E Non-Refunded Debt @ 13.10351% Principal Interest Refunding Bonds New Debt Service @ 13.10351% Principal Interest Total Debt Service $5,850.72 5,850.72 4,745.11 4,745.11 3,639.50 3,639.50 2,460.18 2,460.18 1,280.87 1,280.87 $9,660.25 $17,230.81 33,439.34 153,699.90 32,823.47 38,469.45 32,823.47 132,159.45 32,653.13 36,292.63 32,653.13 133,258.63 31,762.09 34,222.27 31,762.09 134,464.27 30,805.53 32,086.40 30,805.53 135,604.40 29,848.98 29,848.98 29,848.98 139,917.98 27,647.59 27,647.59 27,647.59 140,337.59 25,393.78 25,393.78 25,393.78 140,704.78 23,087.57 23,087.57 23,087.57 144,294.57 20,663.42 20,663.42 20,663.42 147,767.42 18,121.34 18,121.34 18,121.34 150,466.34 15,474.43 15,474.43 15,474.43 149,785.43 12,721.05 12,721.05 12,721.05 151,618.05 9,873.66 9,873.66 9,873.66 154,012.66 6,882.78 6,882.78 6,882.78 158,228.78 3,742.36 3,742.36 3,742.36 92,191.36 1,884.94 1,884.94 1,884.94 91,643.94 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $30,793.00 8,517.00 44,552.00 47,828.00 47,828.00 110,069.00 112,690.00 115,311.00 121,207.00 127,104.00 132,345.00 134,311.00 138,897.00 144,139.00 151,346.00 88,449.00 89,759.00 maaa $1,645,145,0.9 $689,811,53. a70..3.29.101 * Actual George Kuhn Drain Projects Portion: 12.8161% 39 NA /1111111111111111141111111111 mm011 m.01.1.1111n ..11=1 =..M2 T".."1 •nn•••='..7" •••nn•nn Series 2000B Non-Refunded Debt @ 1.29950% Principal Interest Series 2001E Non-Refunded Debt @ 1.29950% Principal Interest Refunding Bonds New Debt Service @ 1.29950% Principal Interest Total Debt Service $4,873.00 4,873.00 5,198.00 5,198.00 5,523.00 $580.23 580.23 470.58 470.58 360.94 360.94 243.98 243.98 127.03 127.03 $170.56 $3,249.00 170.56 89.34 3,574.00 89.34 ded\refund\oakland\George Kuhn 2007 Refund Breakdowns.xls 18 5/23/2007 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) City of Pleasant Ridge Portion* Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts $6.823.00 $519.80 $25,6. 5.0Q S5. 5.52 Date 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $3,054.00 845.00 4,418.00 4,743.00 4,743.00 10,916.00 11,176.00 11,436.00 12,020.00 12,605.00 13,125.00 13,320.00 13,775.00 14,295.00 15,009.00 8,772.00 8,902.00 $163,154.00 $958.03 3,316.24 3,255.17 3,255.17 3,238.27 3,238.27 3,149.91 3,149.91 3,055.04 3,055.04 2,960.18 2,960.18 2,741.86 2,741.86 2,518.35 2,518.35 2,289.64 2,289.64 2,049.23 2,049.23 1,797.13 1,797.13 1,534.63 1,534.63 1,261.57 1,261.57 979.19 979.19 682.58 682.58 371.14 371.14 186.93 186.93 $1,708.82 15,243.03 3,815.09 13,107.09 3,599.21 13,215.21 3,393.89 13,334.89 3,182.07 13,448.07 2,960.18 13,876.18 2,741.86 -13,917.86 2,518.35 13,954.35 2,289.64 14,309.64 2,049.23 14,654.23 1,797.13 14,922.13 1,534.63 14,854.63 1,261.57 15,036.57 979.19 15,274.19 682.58 15,691.58 371.14 9,143.14 186.93 9,088.93 acaartui $268143.23 * Actual George Kuhn Drain Projects Portion: 1.2710% 41 111n1111•1•1411111Rell IN•MMIY•01•1•• ••••nn nmr•wwwwwwwe mmowln••n %Moo •••• =woo ow.m. Series 2000B Non-Refunded Debt @ 28.95069% Date Principal Interest Series 2001E Non-Refunded Debt @ 28.95069% Principal Interest Refunding Bonds New Debt Service @ 28.95069% Principal Interest $3,799.76 $72,375.00 3,799.76 1,990.37 79,614.00 1,990.37 il.1.9133,S0. $11,5130-26 ded\refund\oakland\George Kuhn 2007 Refund Breakdowns.xls 20 5/23/2007 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) • , City Royal Oak Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts $12,926.47 12,926.47 10,483.74 10,483.74 8,041.07 8,041.07 5,435.50 5,435.50 2,829.93 2,829.93 43_ .4 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $108,563.00 108,563.00 115,803.00 115,803.00 123,040.00 LUag $68,034.00 18,817.00 98,431.00 105,669.00 105,669.00 243,185.00 248,977.00 254,765.00 267,793.00 280,822.00 292,404.00 296,746.00 306,877.00 318,456.00 334,381.00 195,416.00 198,312.00 $21,343.23 73,880.37 72,519.66 72,519.66 72,143.32 72,143.32 70,174.66 70,174.66 68,061.25 68,061.25 65,947.86 65,947.86 61,084.16 61,084.16 56,104.63 56,104.63 51,009.31 51,009.31 45,653.43 45,653.43 40,037.00 40,037.00 34,188.95 34,188.95 28,105.69 28,105.69 21,814.70 21,814.70 15,206.72 15,206.72 8,268.32 8,268.32 4,164.54 4,164.54 Total Debt Service $38,069.46 339,578.60 84,993.77 291,987.77 80,184.39 294,418.39 75,610.16 297,082.16 70,891.18 299,600.18 65,947.86 309,132.86 61,084.16 310,061.16 56,104.63 310,869.63 51,009.31 318,802.31 45,653.43 326,475.43 40,037.00 332,441.00 34,188.95 330,934.95 28,105.69 334,982.69 21,814.70 340,270.70 15,206.72 349,587.72 8,268.32 203,684.32 4,164.54 202,476.54 $3,634,754 .00. E15.2.1192...02 1.1.9222210 * Actual George Kuhn Drain Projects Portion: 28.3157% 43 NMI= IMMO •••n•• -•••••n••• •n•n• Series 2000B Non-Refunded Debt @ 7.48763% Principal Interest Series 2001E Non-Refunded Debt @ 7.48763% Principal Interest $18,719.00 20,591.00 $982.75 982.75 514.77 514.77 $28,079.00 28,079.00 29,951.00 29,951.00 31,822.00 $3,343.23 3,343.23 2,711.46 2,711.46 2,079.69 2,079.69 1,405.80 1,405.80 731.92 731.92 dethrefund\oakland\George Kuhn 2007 Refund Breakdowns.xls 22 5/23/2007 • ' $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) City of Southfield Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts Refunding Bonds New Debt Service @ 7.48763% Principal Interest $39310..DO $20,544.20 Date 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $17,596.00 4,867 .00 25,458.00 27,330.00 27,330.00 62,896.00 64,394.00 65,891.00 69,261.00 72,630.00 75,625.00 76,748.00 79,369.00 82,364.00 86,482.00 50,542.00 51,290.00 5940.073.00 $5,520.08 19,107.96 18,756.05 18,756.05 18,658,71 18,658.71 18,149.55 18,149.55 17,602.95 17,602.95 17,056.35 17,056.35 15,798.43 15,798.43 14,510.56 14,510.56 13,192.74 13,192.74 11,807.52 11,807.52 10,354.92 10,354.92 8,842.42 8,842.42 7,269.08 7,269.08 5,642.02 5,642.02 3,932.97 3,932.97 2,138.47 2,138.47 1,077.10 1,077.10 Total Debt Service $9,846.06 87,827.94 21,982.28 75,519.28 20,738.40 76,147.40 19,555.35 76,836.35 18,334.87 77,486.87 17,056.35 79,952.35 15,798.43 80,192.43 14,510.56 80,401.56 13,192.74 82,453.74 11,807.52 84,437.52 10,354.92 85,979.92 8,842.42 85,590.42 7,269.08 86,638.08 5,642.02 88,006.02 3,932.97 90,414.97 2,138.47 52,680.47 1,077.10 52,367.10 $94...207.72 115.4.5.111-96 * Actual George Kuhn Drain Projects Portion: 7.3234% 45 • $50,522.10 $7,Q18,56 $321,159,00 Taafluzz • • . 1111111 111111•11•116n11111 77: $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) City of Troy Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts Series 2000B Non-Refunded Debt @ 2.55801% Date Principal Interest Series 2001E Non-Refunded Debt @ 2.55801% Principal Interest Refunding Bonds New Debt Service @ 2.55801% Principal Interest Total Debt Service 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $335.74 $6,395.00 335.74 175.86 7,035.00 175.86 111429aQ $_LQ23.2Q $9,593.00 9,593.00 10,232.00 10,232.00 10,872.00 $1,142.15 1,142.15 926.32 926.32 710.49 710.49 480.27 480.27 250.05 250.05 $6,011.00 1,663.00 8,697.00 9,337.00 9,337.00 21,487.00 21,999.00 22,510.00 23,662.00 24,813.00 25,836.00 26,220.00 27,115.00 28,138.00 29,545.00 17,267.00 17,522.00 $1,885.83 6,527.88 6,407.66 6,407.66 6,374.40 6,374.40 6,200.46 6,200.46 6,013.72 6,013.72 5,826.99 5,826.99 5,397.24 5,397.24 4,957.26 4,957.26 4,507.05 4,507.05 4,033.82 4,033.82 3,537.57 3,537.57 3,020.85 3,020.85 2,483.35 2,483.35 1,927.49 1,927.49 1,343.63 1,343.63 730.57 730.57 367.97 367.97 $3,363.72 30,004.77 7,509.84 25,800.84 7,084.89 26,013.89 6,680.73 26,249.73 6,263.77 26,472.77 5,826.99 27,313.99 5,397.24 27,396.24 4,957.26 27,467.26 4,507.05 28,169.05 4,033.82 28,846.82 3,537.57 29,373.57 3,020.85 29,240.85 2,483.35 29,598.35 1,927.49 30,065.49 1,343.63 30,888.63 730.57 17,997.57 367.97 17,889.97 1.521021.51 * Actual George Kuhn Drain Projects Portion: 2.5019% dethrefund\oakland\George Kuhn 2007 Refund Breakdowns.xls 24 5/23/2007 47 $4,029.00 4,431.00 $211.50 211.50 110.79 110.79 dethrefund\oakland\George Kuhn 2007 Refund Breakdowns.xls 26 5/23/2007 I • 0,, . 1111111111INIUMIIIIII nnnn•nn•nn••n•nn MEM •n••••n•n IMMO INWM •••••nn $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) Township of Royal Oak Portion* Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts Series 2000B Non-Refunded Debt @ 1.61145% Date Principal Interest Series 2001E Non-Refunded Debt @ 1.61145% Principal Interest Refunding Bonds New Debt Service @ 1.61145% Principal Interest Total Debt Service $719.51 719.51 583.55 583.55 447.58 447.58 302.55 302.55 157.52 157.52 $4,42.1 .42 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $6,043.00 6,043.00 6,446.00 6,446.00 6,849.00 $3,787.00 1,047.00 5,479.00 5,882.00 5,882.00 13,536.00 13,858.00 14,181.00 14,906.00 15,631.00 16,276.00 16,517.00 17,081.00 17,726.00 18,612.00 10,877.00 11,038.00 $202.316aQ $1,188.00 4,112.32 4,036.58 4,036.58 4,015.63 4,015.63 3,906.05 3,906.05 3,788.42 3,788.42 3,670.78 3,670.78 3,400.06 3,400.06 3,122.89 3,122.89 2,839.27 2,839.27 2,541.16 2,541.16 2,228.53 2,228.53 1,903.02 1,903.02 1,564.42 1,564.42 1,214.25 1,214.25 846.43 846.43 460.23 460.23 231.81 231.81 $2,119.01 18,902.33 4,730.92 16,251.92 4,463.21 16,388.21 4,208.60 16,536.60 3,945.94 16,676.94 3,670.78 17,206.78 3,400.06 17,258.06 3,122.89 17,303.89 2,839.27 17,745.27 2,541.16 18,172.16 2,228.53 18,504.53 1,903.02 18,420.02 1,564.42 18,645.42 1,214.25 18,940.25 846.43 19,458.43 460.23 11,337.23 231.81 11,269.81 m2.L52.5.2.a $3,4E0,90, a41,0 $31,827,00 * Actual George Kuhn Drain Projects Portion: 1.5761% 49 I • MI all 11111111111n11111 .n 01•11M111n17n•••n••nn••n• n=7, Refunding Bonds New Debt Service @ 0.81222% Principal Interest Total Debt Service $106.60 106.60 55.84 55.84 $3,046.00 3,046.00 3,249.00 3,249.00 3,452.00 ded\refund\oakland\George Kuhn 2007 Refund Breakdowns.xls 28 5/23/2007 $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) Village of Beverly Hills Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts Date 10/01/07 04/01/08 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 Series 2000B Non-Refunded Debt @ 0.81222% Principal Interest $2,031.00 2,234.00 11265..0.0 V24.88 Series 2001E Non-Refunded Debt @ 0.81222% Principal Interest $362.66 362.66 294.13 294.13 225.59 225.59 152.49 152.49 79.39 79.39 $16,042.00 $22,28, $1,909.00 528.00 2,762.00 2,965.00 2,965.00 6,823.00 6,985.00 7,148.00 7,513.00 7,879.00 8,203.00 8,325.00 8,610.00 8,934.00 9,381.00 5,482.00 5,564.00 $598.79 2,072.73 2,034.56 2,034.56 2,024.00 2,024.00 1,968.77 1,968.77 1,909.48 1,909.48 1,850.19 1,850.19 1,713.73 1,713.73 1,574.03 1,574.03 1,431.08 1,431.08 1,280.82 1,280.82 1,123.25 1,123.25 959.18 959.18 788.51 788.51 612.02 612.02 426.63 426.63 231.97 231.97 116.84 116.84 $1,068.05 9,527.99 2,384.53 8,192.53 2,249.59 8,260.59 2,121.26 8,335.26 1,988.87 8,405.87 1,850.19 8,673.19 1,713.73 8,698.73 1,574.03 8,722.03 1,431.08 8,944.08 1,280.82 9,159.82 1,123.25 9,326.25 959.18 9,284.18 788.51 9,398.51 612.02 9,546.02 426.63 9,807.63 231.97 5,713.97 116.84 5,680.84 115.1,52.804 $1 p1.976.00 142201.5.4 * Actual George Kuhn Drain Projects Portion: 0.7944% 51 11111n11411=11 Mal $5,853.00 5,853.00 6,243.00 6,243.00 6,633.00 $696.87 696.87 565.18 565.18 433.49 433.49 293.03 293.03 152.56 152.56 ded\refund\oakland \George Kuhn 2007 Refund Breakdowns.xls 30 5/23/2007 .ttj 06, 4 INS 1111111111111•114111111111111111 .1.1.111M $12,555,000 George W. Kuhn Drainage District Drain Refunding Bonds, Series 2007 (Refunds Series 2000B and 2001E) County of Oakland Portion * Schedule of Debt Service Payments Breakdown of Principal and Interest Amounts Series 2000B Non-Refunded Debt @ 1.56073% Date Principal Interest Series 2001E Non-Refunded Debt @ 1.56073% Principal Interest Refunding Bonds New Debt Service @ 1.56073% Principal Interest Total Debt Service $204.85 204.85 107.30 4,292.00 107.30 $1,150.61 $2,052.33 3,982.89 18,307.61 3,909.53 4,582.01 3,909.53 15,741.01 3,889.24 4,322.73 3,889.24 15,871.73 3,783.11 4,076.14 3,783.11 16,016.14 3,669.18 3,821.74 3,669.18 16,151.74 3,555.25 3,555.25 3,555.25 16,665.25 3,293.04 3,293.04 3,293.04 16,715.04 3,024.60 3,024.60 3,024.60 16,758.60 2,749.91 2,749.91 2,749.91 17,186.91 2,461.17 2,461.17 2,461.17 17,600.17 2,158.39 2,158.39 2,158.39 17,921.39 1,843.12 1,843.12 1,843.12 17,840.12 1,515.18 1,515.18 1,515.18 18,059.18 1,176.03 1,176.03 1,176.03 18,344.03 819.79 819.79 819.79 18,845.79 445.74 445.74 445.74 10,980.74 224.51 224.51 224.51 10,915.51 aa,N $4,,282.26 10/01/07 04/01/08 $3,902.00 10/01/08 04/01/09 10/01/09 04/01/10 10/01/10 04/01/11 10/01/11 04/01/12 10/01/12 04/01/13 10/01/13 04/01/14 10/01/14 04/01/15 10/01/15 04/01/16 10/01/16 04/01/17 10/01/17 04/01/18 10/01/18 04/01/19 10/01/19 04/01/20 10/01/20 04/01/21 10/01/21 04/01/22 10/01/22 04/01/23 10/01/23 04/01/24 $624.0. $3,668.00 1,014.00 5,306.00 5,697.00 5,697.00 13,110.00 13,422.00 13,734.00 14,437.00 15,139.00 15,763.00 15,997.00 16,544.00 17,168.00 18,026.00 10,535.00 10,691.00 095,948,0Q nigi $322.042.64 " Actual George Kuhn Drain Projects Portion: 1.5265% 53 I HEREBY APPROYE THE F01140ING RESOLUTION 0/a-7 Ruth—ToNfon, County Clerk Resolution #07140 June 14, 2007 Moved by Rogers supported by Potts the resolutions (with fiscal notes attached) on the amended Consent Agenda, be adopted. AYES: Burns, Coulter, Crawford, Douglas, Gershenson, Gingell, Gosselin, Gregory, Greimel, Hatchett, Jacobsen, KowaII, Long, Middleton, Nash, Potts, Rogers, Scott, Spector, Suarez, Woodward, Zack, Bullard. (23) NAYS: None. (0) A sufficient majority having voted in favor, the resolutions (with fiscal notes attached) on the amended Consent Agenda, were adopted. STATE OF MICHIGAN) COUNTY OF OAKLAND) I, Ruth Johnson, Clerk of the County of Oakland, do hereby certify that the foregoing resolution is a true and accurate copy of a resolution adopted by the Oakland County Board of Commissioners on June 14, 2007, with the original record thereof now remaining in my office. In Testimony Whereof, I have hereunto set my hand and affixed the seal of the County of Oakland at Pontiac, Michigan this 14th day of June, 2007.