ST9904-CS 990709Financing: Funding Structure for SIB Loan
Amount - $40,000,(D.0
Timing - Loan closiri~' December 1999
Loan Structure: ,
Interest - Interest only; begins to accrue date of loan closing
Semi-annual interest payments '
Principal - a) $30,000,000 paid day Federal Funds are received
b) $10,000,000- Interest only for 13 years; 20 year
amortization level principal and interest; starting year 13.
Interest Rate - To be determined at approval of loan; rate based
upon tax-exempt market rates '
Security - Guaranteed Investment Contract until Federal Funds are
received;· annual appropriatioh of Denton County thereafter·
.Optional Redemption- Callable at any time at the County's option
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Programming: Leveraging $8.24 Mill. to Construct A $150 Mill. Project