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2019 OPPERATIONAL AGREEMENT
BETWEEN KITTITAS COUNTY AND
This Contract, effective January 1, 2019 is made and entered into by and between KITTITAS
COUNTY ("County"), a subdivision of the State of Washington, and Kittitas County Auditor's Office
("Contractor"), for the 2019 (Event)
WHEREAS, the purpose of this Agreement is to provide for activities and expenditures
designed to increase tourism,
NOW THEREFORE, in consideration of the terms and conditions contained herein, or
attached and incorporated and made a part hereof, the County and the Contractor mutually agree
as follows:
Section 1. Scope of Work.
a. Contractor shall provide the services and staff described in its Application for Lodging Tax
Funds submitted to the Lodging Tax Advisory Committee, attached hereto as Exhibit "A"
which is attached hereto and incorporated herein by this reference.
b. Except as otherwise specifically provided in this Agreement, Contractor shall furnish the
following as required to perform the services, described in Paragraph (a) above, in
accordance with this Agreement: Personnel, labor and supervision; technical, professional
and other services. All such services, property and other items furnished or required to be
furnished, together with all other obligations performed, or required to be performed, by
Contractor under this Agreement are collectively referred to herein as "Services."
Section 2. Payment.
a. As full compensation for satisfactory performance of the Contractor's Services, the County
agrees to pay Contractor the sum of $128,000.00 (Kittitas Co. lodging tax funding).
b. Additional payment terms: The County will make payment to the Contractor in a lump sum
manor such that Contractor can purchase the items and services described in Exhibit "A."
Section 3. Performance by Contractor.
a. Contractor shall not (by contract, operation of law or otherwise) delegate or subcontract
performance of any Services to any other person or entity without the prior written consent
of the County. Any such delegation or subcontracting without the County's prior written
consent shall be voidable at the County's option.
b. Contractor shall comply with all applicable laws, ordinances, rules, regulations, orders,
licenses, permits, and other requirements, now or hereafter in effect, of any governmental
authority (including, but not limited to, such requirements as may be imposed upon the
County and applicable to Services). Contractor shall furnish such documents as may be
2019 County Lodging Tax Agreement -Internal Page 1
LT -2019 -029 -Auditor
required to effect or evidence such compliance. All laws, ordinances, rules, and orders
required to be incorporated into agreements of this character are incorporated into this
Agreement by this reference. Contractor agrees to obtain all required licenses and permits,
and further agrees to keep them in full force and effect during the term of this Agreement.
c. The County and the Contractor agree that in fulfilling the terms and conditions of this
Agreement neither shall discriminate on the basis of race, creed, color, national origin, age,
sex, marital status, or the presence of a physical, sensory, or mental handicap.
d. The Services shall at all times be subject to inspection by and approval of the County, but
the County's making (or failure or delay in making) such inspection or approval shall not
relieve Contractor of its responsibility to perform the Services in accord with this
Agreement, notwithstanding the County's knowledge of defective or non -complying
performance, or the substantiality or ease of discovering the same. Contractor shall provide
the County with sufficient, safe, and proper facilities and equipment for such inspection and
free access to such facilities.
e. This contract is subject to review by any Federal or State auditor. Contractor shall promptly
furnish the County or its designee, or such Federal or State auditor with such information
related to the Services as may be requested by the applicable governmental entity.
Contractor shall preserve and maintain all financial records and records relating to
performance of Services under this Agreement for six (6) years after contract termination.
For such duration after the County makes final payment of compensation due hereunder,
Contractor shall provide the County access to (and the County shall have the right to
examine, audit and copy, with or without notice) all of Contractor's books, documents,
papers and records related to the Services or this Agreement.
Section 4. Comoliance with Public Records Law.
a. In compliance with Washington's public records law, the County will retain copies of any
documents associated with this Agreement, which may be required by law unless legally
exempt from such retention, for any applicable legally required retention period.
b. In the event a public records request is made to the County for documents created in
relation to this Agreement, should legal uncertainty arise regarding the disclosability of any
documents under federal or state public records laws, the County shall provide notice to
Contractor pursuant to Washington's public records act, chapter 42.56 RCW, to allow
Contractor to seek a court injunction.
c. The County specifically shall not be liable to Contractor for the County's release under public
records laws of any documents not protected by trademark, copyright or other law.
Section 5. Termination.
The County may, by written notice thereof to Contractor, terminate this Agreement as to all or any
portion of the Services not yet performed, whether or not Contractor is in breach or default. Upon
receiving such notice of termination, Contractor shall, except as otherwise directed by the County,
2019 County Lodging Tax Agreement -Internal Page 2
LT -2019 -029 -Auditor
immediately stop performing the Services to the extent specified in the notice. In the event the
County terminates the Contractor's Services, the Contractor is obligated and hereby agrees to
refund to the County all monies paid for Services not yet rendered by the Contractor, if any, as of
the date of the notice of termination.
ion 6. Miscellaneous.
a. Contractor shall not (by contract, operation of law or otherwise) assign this Agreement or
any right or interest in this Agreement without the County's prior written consent.
b. This Agreement embodies the entire Agreement between the County and Contractor, and
supersedes any and all prior oral or written communications, proposals, conditions, promises,
representations, or understandings regarding the Services. No change, amendment or
modification of any provision of this Agreement shall be valid unless set forth in a written
amendment to the Agreement signed by both parties.
Notice for any purpose under this Agreement, except service of process, shall be given by
the Contractor to the Kittitas County Commissioners and the Kittitas County Auditor, 205 W.
5th Ave. Ste. 108, Ellensburg, WA 98926. For all purposes under this Agreement, any notice by
the County to the Contractor shall be given to the Contractor's address provided on the
signature page. Notice may be given by delivery or by depositing in the U.S. Mail, first class,
postage prepaid, certified mail, return receipt requested.
d. The section and paragraph headings of this Agreement are for reference convenience only
and are not intended to restrict, affect or be of any weight in interpreting or construing the
provisions of such sections or paragraphs.
This Agreement may be executed in one or more counterparts and by facsimile, each of
which will be deemed an original, but all of which together will constitute one and the same
instrument.
f. Contractor warrants to the County that the individual signing on Contractor's behalf has the
requisite power and authority to enter into and to perform Contractor's obligations under
this Agreement. Contractor further warrants to the County that Contractor has made no
misrepresentation or misleading statement in connection with this Agreement, and is not in
violation of any applicable law, ordinance, or regulation the consequence of which will or
may materially affect Contractor's ability to perform its obligations under this Agreement.
g. If any term or condition of this Agreement or the application thereof to any person(s) or
circumstances is held invalid, such invalidity shall not affect the other terms, conditions or
applications which can be given effect without the invalid term, condition or application. To
this end, the terms and conditions of this Agreement are declared severable.
h. The exclusive venue for any action brought to enforce this Agreement or any of its terms
shall be in Kittitas County, State of Washington.
2019 County Lodging Tax Agreement -internal
Page 3
LT -2019 -029 -Auditor
KITTITAS COUNTY
BOARD OF COUNTY COMMISSIONERS
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TO FORM'
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Deputy Prosecuting Attorney
CONTRACTOR
rint Name]
[Address]
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[Telephone]
2019 County Lodging Tax Agreement -Internal Page 4
EXHIBIT "A"
A nr-C
KITT1TA5 COUNTY
Lodging Tax for Tourism -Related Operations
"Internal Application Only"
Submission Deadline: September 1
Kittitas County Commissioners
205 W 5th Avenue, Suite 108, Ellensburg, WA 98926
509-962-7508
Lodging Tax for Tourism -Related
Internal Operations General Information
Kittitas County imposes a lodging tax assessed on the sale or charge made for furnishings of
lodging according to RCW 67.28.180 and RCW 67.28.181. In accordance with the tax and
Washington State law, a Lodging Tax Advisory Committee has also been established. The
committee's purpose is to advise and recommend to the Board of County Commissioners how
excise taxes on lodging should be allocated to support tourism which in turn generates
revenue.
Uses According to Law:
RCW 67.28.1816 states the following:
Lodging tax revenues under this chapter may be used, directly by any municipality or indirectly
through a convention and visitor bureau or destination marketing organization for supporting
the operations of tourism -related facilities owned or operated by a municipality.
Definitions included in state law which shoo:ld be considered in an reapplication requesting
fug include:
1. Tourism means economic activity resulting from tourists, which may include sales of overnight
lodging, meals, tours, gifts, or souvenirs.
2. Tourism promotion means activities, operations, and expenditures designed to increase tourism,
including but not limited to advertising, publicizing, or otherwise distributing information for the
purpose of attracting and welcoming tourists; developing strategies to expand tourism; operating
tourism promotion agencies; and funding marketing or the operation of special events and festivals
designated to attract tourists.
3. Tourism -related facility means real or tangible personal property with a usable life of three or more
years, or constructed with volunteer labor that is: (a) (i) owned by a public entity; (ii) owned by a
nonprofit organization described under section 501 (c) (3) of the federal internal revenue code of
1986, as amended; or (iii) owned by a nonprofit organization described under section 501 (c) (6) of
the federal internal revenue code of 1986, as amended; a business organization, destination
marketing organizations, main street organization, lodging association, or chamber of commerce; and
(b) used to support tourism, performing arts, or to accommodate tourist activities.
Review Process:
Kittitas County's Lodging Tax Advisory Committee (LTAC) will review all Kittitas County
completed applications. Qualifying applicants will be provided the opportunity to present their
projects to the LTAC and answer questions. The LTAC will submit their recommendations to the
Board of County Commissioners (BOCC) who have final approval authority for the list of
recommendations.
Prior to making a final decision, the BOCC will publicly deliberate on the recommendations
received from the LTAC. Applicants may also be requested to present their projects to the
BOCC and answer questions.
SUBMITTAL INSTRUCTIONS FOR INTERNAL APPLICATION
Please return ONE COPY of the entire original application and answers to narrative questions to:
Kittitas County Commissioners
Attn: Internal Lodging Tax Grant Application
205 West 5th, Suite 108, Ellensburg, WA 98926
Applications must be received no later than 5:00 PM, September 1st, of each year (if September 1st
falls on a weekend, the application will he due on the Monday immediately following) and must be
postmarked accordingly.
Incomplete and/or late applications will not be considered. Applications may not be changed or
amended by the applicant after the deadline for submission
Schedule.
a Application deadline
• Oral presentations of proposals to LTAC
• LTAC submits to BOCC
• BOCC Deliberation and Decision
Applicant Award Notification
* Funds availability
September 1
no later than October 1
no later than October 20
no later than November 7
November 10
January 1
Project Management:
The Board of County Commissioners will approve the application based upon the recommendation of
the LTAC. The Board will approve by Resolution the amount authorized.
All funds awarded under this program will be available in the form of a direct charge to the Lodging tax
budget for the Fiscal year, January through December.
All funds awarded for supporting the operations of county -owned tourism -related facilities will be
available for reimbursement until January 15 of the next year. If January 15, falls on a weekend the
requests must be submitted on the Monday immediately following. Any unexpended funds will be
returned to the Lodging Tax account and made available for re -appropriation.
All requests for reimbursement shall be made to the Kittitas County Auditor's office at the following
address:
Kittitas County Auditor
Attn: Lodging Tax Grant Funds Reimbursement
205 W 5th, Suite 105
Ellensburg, WA 98926
For specific information and requirements regarding the reimbursement process, please contact the
Auditor's office at 509-962-7502.
Applicant Categories and Eligibility:
Grants from lodging tax funds are provided for Internal Kittitas County Operations.
APPLICATION FOR LODGING TAX FOR INTERNAL TOURISM -
RELATED OPERATIONS
Applicant Information — Operations
Application for Fiscal Year
Enter date: i.e. Jan 1
Name of Department:
Mailing Address:
Contact Person and Title:
Phone:
Email:
Project Title:
Project Location:
Jan 01, 2019
Kittitas County Commissioners & Auditor
205 West 5th
Ellensburg, WA 98926
Judy Pless, Budget and Finance Manager_
509-962-7502
judy.pless@co.kittitas.wa.us
2019 County Operations_
Courthouse
Funding Request: $128,000 ($24,193 operations $103,807 Bond Payment)
Application Requirements
_x_ 1. The project qualifies for lodging tax funds is supporting the operations of
tourism -related facilities owned or operated by Kittitas County.
x_ 2. A completed project budget is included in the application (if applicable).
Applicant Certification: Please sign below in agreement with statement of certification.
Certification is hereby given that the information provided is accurate and the applicable
attachments are complete and included as part of the application package.
I fu"ertify that the application thresholds are met at the time of application.
r•
Budget -Finance Manaeer 07-15-2019_
Signat e ofbfficial Representative Title Date
Tourism -Related Facility Operational Funding Narrative
(Municipality Applications Only)
For the Year 2019
1. Operational Spending: Please explain your request for operational funding and how it is
directly related to supporting the operations of a tourism -related facility owned or operated
by a municipality or public facilities district.
The Commissioner and Auditor offices who work very close together to ensure the actions of the
Lodging Tax Advisory Committee (LTAC) are fulfilled as authorized.
The operations for the Board of County Commissioners office are for the board clerk. The clerk
coordinates and attends all LTAC and sub -committee meetings, prepares the minutes, works with other
Lodging Tax coordinators from the other cities, works with the deputy prosecutor and prepares the
contracts for approval by the Board of County Commissioners and applicants, and attends the Board of
County Commissioners meetings representing the LTAC.
The operations for the Auditor's office are for administration of each contract authorized by the LTAC
and Board of County Commissioners. Administration includes reimbursement requests; ensuring
requests meet all the contract requirements. See attached flow -chart.
The operations for staff time & benefits are charged directly from the County payroll processing, as well
as copies, postage, computer rental/replacement, G -mail account, software, advertising and central
services.
Also included in the request is for the annual bond payment in the amount of $103,807
2. Sustainability Strategy: Please describe your strategy for long-term operational
sustainability. Include any specific progress toward this goal.
There is no plan for long-term sustainability; as long as the LTAC exists and requirements are placed on
the county, support staff will be utilized.
3. Applicant Certification: Please sign below in agreement with statement of certification.
Certification is hereby given that the information provided is accurate and the applicable
attachments are complete and included as part of the application package.
I further certify that the application thresholds are met at the time of application.
C' Budeet-Finance Manager 7-15-2019
Signafu e of1,6fficial Representative Title Date
Kittitas County Lodging Tax Process
Tourism Grants
Application are Submitted
Reviewed and Rated by all Lodging Tax Committees
"k) LIP Meeting with presentations of applications
Committee Awards Amount
solution for Adoption of Awards
F -19-e
Interlocal Agreement with City of Cl� lum Cil.ensburg and Roslyn - -
Contracts with applicants -
Processing Contracts
Copies of all Contracts seek to Auditar's Office
1 Forms are updated on the County's Website based upon Contract requirementsE: J
Qnline Training is updated on Website
-
fific ntract
Awardee's mUst take the online Training and send cortificationt cif Auditor
July 16, 2018 G:\Documents\Accounting\MiscJudy
1l Page
Kittitas County Lodging Tax Process
Processing Reimbursements
RegUest are submitt6d by Contract Awardee to Auditor's office
Audit Process
-Confirm the online training has bean cc)mpleted
"Confirtll we have a new IRS W9
-Confirm refluesl Match contrail awatcl
-'Ccnfirnti all Bra nriinF, ha-, been applied
-,Confirm ail adveriisiril; are ifiet
—Co..nilrm Contract A17IOU 111S'l)r7'f'r;I ICE c1rL' MCI
-Confirm Dates of Evepts thatch request
-Confirm Event matches contract.
Contact Awardee with t;tiestions
Dispute Board for disagreements
Bill City of Cie Elum, Ellensburg and Roslyn for their portion of
reimbursements
Enter reinibUl-Sem'nts amounts into spreadsheet
July 16, 2018 G:\Documents\Accounting\MiscJudy
21 Page
Kittitas County Lodging Tax Process
Annual Reporting
Each Awardee must complete a report about event
Auditor's office audits reporting data
Data is entered into the JLARC reporting module
Noint Legislative Audit and Review CommitteA]
Data is compiled into a State wide report
July 16, 2018
G:\Documents\Accounting\MiscJudy
31 Page
19/07/15-13:00 July 15 2019
GL787 UMP - BUDGET - ADOPTED Report Format
January 1,2019 through December 31,2019 Transaction status 2
ADOPTED
BUDGET
Fnd 140 STADIUM
Sub 140 STADIUM
Obj 500 EXPENDITURES
140 50055 OPERATING TRANSFERS OUT
140 50099 INDIRECT COST CENTRAL SERVICES
Obj 500 EXPENDITURES
Obj 508 ENDING FUND BALANCE
140 508 ENDING FUND BALANCE
Obj 508 ENDING FUND BALANCE
Obj 510 SALARIES AND WAGES
140 51001 SALARIES
Obj 510 SALARIES AND WAGES
Obj 520 PERSONNEL BENEFITS
140 52001 FICA/MEDICARE
140 52002 MEDICAL AID/LABOR INDUSTRIES
140 52003 RETIREMENT
140 52004 MEDICAL BENEFITS
140 52006 UNEMPLOYMENT
Obj 520 PERSONNEL BENEFITS
Obj 531 OFFICE AND OPERATING SUPPLIES
140 53101 OFFICE SUPPLIES
Obj 531 UFFICE AND OPERATING SUPPLIES
Obj 541 PROFESSIONAL SERVICES
140 54141 ADVERTISING
140 14154101 OPERATIONS PROSESSIONAL SERV
140 14254101 TOURISM PROSESSIONAL SERV
140 14354101 MARKETING PROSESSIONAL SERV
140 14454101 CAPITAL PROSESSIONAL SERV
140 16154101 CLE ELUM PROFESSIONAL SERVICES
140 16254101 EBURG PROFESSIONAL SERVICES
140 16454101 ROSLYN PROFESSIONAL SERVICES
Obj 541 PROFESSIONAL SERVICES
Obj 542 COMMUNICATIONS
140 54202 POSTAGE
Obj 542 COMMUNICATIONS
140 54809 COMPUTER SOFTWARE MAINTENANCE
Obj 548 REPAIRS & MAINTENANCE
Sub 140 STADIUM
Report Final Totals
510
353,807.00
1,989.00
-----------------
355,796.00
900,000.00
-----------------
900,000.00
15,300.00 y
--------------
15,300.00
1,073.00
69.00
1,812.00
2,511.00
39.00
--5,504.00
400.00 V
-----------------
400.00
100.00
52,000.00
200,000.00
100,000.00
1,575,000.00
10,000.00
40,000.00
10,000.00
1,987,100.00
100.00
----------------
100.00
800.00
600.00
3,265,000.00
3,265,000.00
19/07/12-10:58 KITTITAS COUNTY FY 2018
GL787 JMP - EXPENDITURE SUMMARY
GL Period 12 ending December 31, 2018
YTD
ACTUAL
Fnd 140
STADIUM
Obj 500
EXPENDITURES
140 50055
OPERATING TRANSFERS OUT
106,606.26
140 50099
INDIRECT COST CENTRAL SERVI
1,028.77
Obj 500
-----------------
EXPENDITURES
107,635.03
Obj 510
SALARIES AND WAGES
140 51001
SALARIES
7,895.97
140 51002
OVERTIME
334.01
Obj 510
SALARIES AND WAGES
8,229.98
Obj 520
PERSONNEL BENEFITS
140 52001
FICA/MEDICARE
630.52
140 52002
MEDICAL AID/LABOR INDUSTRIE
45.69
140 52003
RETIREMENT
1,055.78
140 52004
MEDICAL BENEFITS
1,530.82
140 52006
UNEMPLOYMENT
8.28
140 52022
BENEFIT ADMINISTRATION
7.43
Obj 520
-----------------
PERSONNEL BENEFITS
3,278.52
Obj 531
OFFICE AND OPERATING SUPPLIES
140 53101
OFFICE SUPPLIES
267.20
Obj 531
-----------------
OFFICE AND OPERATING SUPPLIES
267.20
Obj 541
PROFESSIONAL SERVICES
140 14154101
OPERATIONS PROSESSIONAL SER
53,730.00
140 14254101
TOURISM PROSESSIONAL SERV
98,111.23
140 14354101
MARKETING PROSESSIONAL SERV
174,249.30
140 14454101
CAPITAL PROSESSIONAL SERV
109,781.64
140 16154101
CLE ELUM PROFESSIONAL SERVI
3,146.49
140 16254101
EBURG PROFESSIONAL SERVICES
16,512.72
140 16454101
ROSLYN PROFESSIONAL SERVICE
1,540.17
Obj 541
PROFESSIONAL SERVICES
457,071.55
Obj 542
COMMUNICATIONS
140 54202
POSTAGE
41.59
Obj 542
-----------------
COMMUNICATIONS
41.59
Obj 548
REPAIRS & MAINTENANCE
140 54809
COMPUTER SOFTWARE MAINTENAN
779.04
Obj 548
-----------------
REPAIRS & MAINTENANCE
779.04
Fnd 140
STADIUM
577,302.91
Report Final Totals
--------------
577,302.91
,,2-o /7 eLk-�
July 12 2019 Page: 1
Report Format 511
Transaction status 2
19/07/12-11:00 KITTITAS COUNTY FY 2017
GL787 JMP - EXPENDITURE SUMMARY
GL Period 12 ending December 31, 2017
YTD
ACTUAL
Fnd 140
STADIUM
Obj 500
EXPENDITURES
140 50055
OPERATING TRANSFERS OUT
103,068.76
140 50099
INDIRECT COST CENTRAL SERVI
1,574.96
Obj 500
EXPENDITURES
104,643.72
Obj 510
SALARIES AND WAGES
140 51001
SALARIES
13,999.64
Obj 510
SALARIES AND WAGES
13,999.64
Obj 520
PERSONNEL BENEFITS
140 52001
FICA/MEDICARE
1,073.13
140 52002
MEDICAL AID/LABOR INDUSTRIE
59.03
140 52003
RETIREMENT
1,812.26
140 52004
MEDICAL BENEFITS
2,502.99
140 52006
UNEMPLOYMENT
39.34
Obj 520
PERSONNEL BENEFITS
5,486.75
Obj 531
OFFICE AND OPERATING SIIPPLIES
140 53101
OFFICE SUPPLIES
96.05
140 53160
C INTERFUND SIIPPLIES
102.85
Obj 531
-----------------
OFFICE AND OPERATING SIIPPLIES
198.90
Obj 535
SMALL TOOLS/MINOR EQUIPMENT
140 53563
MINOR COMPUTER EQUIPMENT
3,826.05
Obj 535
SMALL TOOLS/MINOR EQUIPMENT
3,826.05
Obj 541
PROFESSIONAL SERVICES
140 14154101
OPERATIONS PROSESSIONAL SER
104,200.00
140 14254101
TOURISM PROSESSIONAL SERV
120,248.74
140 14354101
MARKETING PROSESSIONAL SERV
183,121.64
140 14454101
CAPITAL PROSESSIONAL SERV
6,873.60
140 16154101
CLE ELUM PROFESSIONAL SERVI
7,920.00
140 16254101
EBURG PROFESSIONAL SERVICES
25,611.60
Obj 541
-----------------
PROFESSIONAL SERVICES
447,975.58
Obj 542
COMMUNICATIONS
140 54202
POSTAGE
21.23
Obj 542
-----------------
COMMUNICATIONS
21.23
Obj 548
REPAIRS & MAINTENANCE
140 14154809
COMPUTER SOFTWARE MAINTENAN
324.60
Obj 548
REPAIRS & MAINTENANCE
------------
324.60
Obj 564
EQUIPMENT
140 14156404
COMPUTER SOFTWARE
3,246.00
Obj 564
-----------------
EQIIIPMENT
3,246.00
Fad 140
STADIUM
579,722.47
Renort
-------------
Final TM—l.
979.777 47
C;2,0 rI
July 12 2019 Page: 1
Report Format 511
Transaction status 2
FINAL NUMBERS
$1,505,000
Kittitas County, Washington
Limited Tax General Obligation and Refunding Bonds, 2010
Armory Project
Debt Service Schedule
Date
Principal
Coupon
Interest
Total P+I
12/01/2010
Net Interest Cost (NIC)
3.2241889%
True Interest Cost (TIC)
3.1891241%
12/01/2011
50,000.00
2.000%
52,939.29
102,939.29
12/01/2012
60,000.00
2.000%
44,268.76
104,268.76
12/01/2013
60,000.00
2.000%
43,068.76
103,068.76
12/01/2014
60,000.00
2.000%
41,868.76
101,868.76
12/01/2015
65,000.00
2.000%
40,668.76
105,668.76
12/01/2016
65,000.00
2.000%
39,368.76
104,368.76
12/01/2017
65,000.00
2.250%
38,068.76
103,068.76
12/01/2018
70,000.00
4.000%
36,606.26
106,606.26
,l210I 2019
70.000.00
4.000%
33:806.26
103.84E 25__.
12/01/2020
75,000.00
3.000%
31,006.26
106,006.26
12/01/2021
75,000.00
3.000%
28,756.26
103,756.26
12/01/2022
75,000.00
3.000%
26,506.26
101,506.26
12/01/2023
80,000.00
3.000%
24,256.26
104,256.26
12/01/2024
80,000.00
_ 3.125% _
21,856.26
101,856.26
12/01/2025
$5,000.40
3.250%
19,356.26
104,356.26
12/01/2026
90,000.00
3.375%
16,593.76
106,593.76
12/01/2027
90,000.00
3.375%
13,556.26
103,556.26
12/01/2028
95;800.00
3.500%
10,518.76
105,518.76
12/01/2029
95,000.00
3.625%7,193.76
102,193.76
12/01/2030
106,000.00
3.750%
3,750.00
103,750.00
Total $1,505,000.00 — $574,014.47 $2,079,014.47
Yield Statistics
Bond Year Dollars
$17,600.01
Average Life _
11.694 Years
Average Coupon
3.2614433%
Net Interest Cost (NIC)
3.2241889%
True Interest Cost (TIC)
3.1891241%
Bond Yield for Arbitrage Purpoom
3.0386086%
All Inclusive Cost (AIC)
3.2505862%
IRS Form 8038
Net Interest Cost
3.1216627%
Weighted Average Maturity
11.588 Years
LTGO B Refunding, 2010 OS I Armory Project ($1.5M) 1 9/22/2010 1 9:13 AM