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TAX SPREAD: 82 © DAVID TAUSSIG AND ASSOCIATES, INC. PROJECTED SPECIAL TAXES AND BONDED INDEBTEDNESS DRAFT CITY OF ANAHEIM CFD NO. 08-1 (PLATINUM TRIANGLE) 27-Jan-10 03:32 PM LAND USE ASSUMPTIONS BUILDOUT PERIOD FOR PROJECT (YEARS FROM 2009) BUILDOUT ASSUMPTIONS TOTAL RESIDENTIAL UNITS TOTAL NON-RESIDENTIAL SQ FT EXISTING PROPERTY TOTAL RESIDENTIAL UNITS TOTAL NON-RESIDENTIAL ACRES CONTINGENCY TOTAL RESIDENTIAL UNITS (10% CONTINGENCY) TOTAL NON-RESIDENTIAL SQ FT (15% CONTINGENCY) DEVELOPMENT USED IN ANALYSIS TOTAL RESIDENTIAL UNITS TOTAL NON-RESIDENTIAL SQ FT TOTAL APPROVED ACRES TOTAL EXISTING ACRES GROSS ACREAGE LESS EXISTING PUBLIC PROPERTY LESS FUTURE EXEMPT PROPERTY NET TAXABLE ACREAGE SPECIAL TAX CLASS SFR 2,200 SF SFR 2,000 - 2,199 SF SFR 1,800 - 1,999 SF SFR 1,600 - 1,799 SF SFR 1,400 - 1,599 SF SFR 1,200 - 1,399 SF SFR 1,000 - 1,199 SF SFR 800 - 999 SF SFR < 800 SF NON-RESIDENTIAL PROPERTY SF APPROVED ACRE EXISTING ACRE UNDEVELOPED ACRE NOTES: Acreage information based on data provided by the City. Net taxable acres based on acreage of property subject to specia Bond amount assumes that there are no value-to-lien constraints. Fixed charges based on FY 09-10 rates. Ad valorem rates based FY 09-10 rates for TRAs 01007, 01116, 01213, 01237, and 01218 Please note that property within TRAs 08002 and 08093 may see rates. Preliminary, subject to change; AD spread in progress. Based only on sales prices provided by developers in December 2 Not all developers provided data. Assumes Approved Property at Maximum Existing Property tax rat Stone and Youngberg Debt Service 1/27/2010 N ACTUAL PERMITS THROUGH SEPTEMBER 2009 (Levy Approved Property at approximately the same rate as Existing Property) BOND ASSUMPTIONS SERIES A SERIES B SERIES C SERIES D SERIES E EXISTING TAX RATES (FY 2009-2010) NA AVERAGE COUPON 6.61% 0.00% 0.00% 0.00% 0.00% GENERAL AD VALOREM TAX LEVY 1.08117% BOND TERM (YEARS) 30 0 0 0 0 COI / UW DISC. / ADMIN 2.86% 0.00% 0.00% 0.00% 0.00% OTHER ASSESSMENTS NA ORIGINAL ISSUE DISC. 0.41% 0.00% 0.00% 0.00% 0.00% MOSQUITO, FIRE ANT ASSESSMENT $3.04 NA RESERVE FUND 10.00% 0.00% 0.00% 0.00% 0.00% VECTOR CONTROL CHARGE $0.66 CAPITALIZED INTEREST 1.37% 0.00% 0.00% 0.00% 0.00% MWD WATER STANDBY CHARGE $8.52 OCSD SEWER USER FEE $221.00 NA NA OTHER ASSUMPTIONS PLATINUM TRIANGLE MAINTENANCE AD $150.00 REINVESTMENT INTEREST RATE 2.50% DISCOUNT RATE FOR NPV ANALYSIS 6.00% NA PROPERTY INFLATION RATE 2.00% NA ADMINISTRATION EXPENSE INFLATION RATE 2.00% SPECIAL TAX ASSUMPTIONS 1,530 RESIDENTIAL EDU $1,085 27,924 NON-RESIDENTIAL PROPERTY PER SF $1.5215 NA APPROVED PROPERTY PER ACRE $104,040 NA EXISTING PROPERTY PER ACRE $5,310 UNDEVELOPED ACRE $5,310 BACKUP TAX PER ACRE $104,040 409.07 METHOD OF APPORTIONMENT (193.89) STEP 1: AT UP TO 100% OF DEVELOPED PROPERTY & 90% OF EXISTING PROPERTY (10.76) STEP 2: AT UP TO 90% OF APPROVED PROPERTY 204.42 STEP 3: AT UP TO 100% OF APPROVED & EXISTING PROPERTY STEP 4: AT UP TO 100% OF UNDEVELOPED PROPERTY MINIMUM DEBT SERVICE COVERAGE GROSS COVERAGE (DEV, EXISTING, & APP PROP) 101.55% GROSS COVERAGE (DEV, EXISTING, & APP PROP) 477.59% % SPECIAL TAX INCREASE 2.00% GROSS COVERAGE (ALL PROPERTY) 478.46% NET DEBT SERVICE COVERAGE 478.46% SUMMARY OF TAX COMPUTATIONS 2008 PROJECTED SPECIAL TAX A MAXIMUM SPECIAL TAX A EQUIVALENT MINIMUM (FY 2010-2011) (FY 2010-2011) UNITS SALES PRICE SPECIAL TAX E.T.R. TOTAL E.T.R. SPECIAL TAX E.T.R. TOTAL E.T.R. 2.64 $776,000 $0 0.0000% 1.1306% $2,861 0.3687% 1.4993% 2.33 $692,000 $2,528 0.3653% 1.5019% $2,528 0.3653% 1.5019% 1.92 $524,000 $2,081 0.3971% 1.5514% $2,081 0.3971% 1.5514% 1.63 $500,000 $1,769 0.3537% 1.5116% $1,769 0.3537% 1.5116% 1.44 $462,000 $1,566 0.3389% 1.5030% $1,566 0.3389% 1.5030% 1.10 $335,000 $1,196 0.3572% 1.5527% $1,196 0.3572% 1.5527% 0.95 $327,000 $1,035 0.3166% 1.5149% $1,035 0.3166% 1.5149% 0.76 $284,000 $827 0.2912% 1.5073% $827 0.2912% 1.5073% 0.56 $214,000 $609 0.2844% 1.5447% $609 0.2844% 1.5447% NA NA $1.5215 NA NA $1.5215 NA NA NA NA $4,779 NA NA $104,040 NA NA NA NA $4,779 NA NA $5,310 NA NA NA NA $0 NA NA $5,310 NA NA MAJOR CONCLUSIONS % of Total al tax. TOTAL BONDED INDEBTEDNESS $36,825,000 RESIDENTIAL TAXES 61.65% $57,298,744 s. TOTAL BOND FINANCED FACILITIES $31,433,200 NON-RES PROPERTY TAXES 1.79% $1,660,054 d on TOTAL PAY-AS-YOU-GO FUNDS $0 APPROVED PROPERTY TAXES 18.50% $17,194,622 8. TOTAL FACILITIES $31,433,200 EXISTING PROPERTY TAXES 18.06% $16,783,971 lower UNDEVELOPED TAXES 0.00% $0 TOTAL SPECIAL TAXES 100.00% $92,937,391 TOTAL DEBT SERVICE & ADMINISTRATION $97,125,359 2007. MISCELLANEOUS REVENUES ($4,187,968) NPV APPROVED SPECIAL TAXES (2010$) $7,453,223 PAY-AS-YOU-GO FUNDS $0 NPV UNDEVELOPED SPECIAL TAXES (2010$) $0 ate. TOTAL SPECIAL TAX REQUIREMENT $92,937,391 NPV PAY-AS-YOU-GO FUNDS (2010$) $0 K:\CLIENTS2\Anaheim\Platinum Triangle\taxspread\82 TAXSPREAD (1530 UNITS).123 ---PAGE BREAK--- ANAHEIM CFD 08-1 (PLATINUM TRIANGLE): 82 Draft - Unaudited Page 2 CALENDAR YEAR - PAYMENTS TO BOND HOLDERS 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 I. CFD BONDED INDEBTEDNESS CONSTRUCTION PROCEEDS SURPLUS/(SHORTFALL) TOTAL BOND FINANCED FACILITIES TOTAL BONDED INDEBTEDNESS II. ABSORPTION-BUILDING PERMITS (as of 9/1) UNDEVELOPED PROPERTY REMAINING UNDEVELOPED ACRES CUMULATIVE OTHER PROPERTY APPROVED PROPERTY EXISTING PROPERTY CUMULATIVE DEVELOPED PROPERTY NON-RESIDENTIAL SF SFR 2,200 SF SFR 2,000 - 2,199 SF SFR 1,800 - 1,999 SF SFR 1,600 - 1,799 SF SFR 1,400 - 1,599 SF SFR 1,200 - 1,399 SF SFR 1,000 - 1,199 SF SFR 800 - 999 SF SFR < 800 SF CUMULATIVE RESIDENTIAL UNITS III. MELLO-ROOS SPECIAL TAXES UNDEVELOPED PROPERTY SPECIAL TAXES OTHER PROPERTY SPECIAL TAXES APPROVED PROPERTY EXISTING PROPERTY DEVELOPED PROPERTY SPECIAL TAXES NON-RESIDENTIAL PROPERTY SFR 2,200 SF SFR 2,000 - 2,199 SF SFR 1,800 - 1,999 SF SFR 1,600 - 1,799 SF SFR 1,400 - 1,599 SF SFR 1,200 - 1,399 SF SFR 1,000 - 1,199 SF SFR 800 - 999 SF SFR < 800 SF TOTAL SPECIAL TAXES IV. SPECIAL TAX REQUIREMENT NEW BONDED INDEBTEDNESS RESERVE FUND ANNUAL GROSS DEBT SERVICE - SERIES A ANNUAL GROSS DEBT SERVICE - SERIES B ANNUAL GROSS DEBT SERVICE - SERIES C ANNUAL GROSS DEBT SERVICE - SERIES D ANNUAL GROSS DEBT SERVICE - SERIES E TOTAL ANNUAL DEBT SERVICE CFD ADMINISTRATION RESERVE FUND INTEREST DELINQUENCY) CAPITALIZED INTEREST PAY-AS-YOU-GO FUNDS NET ANNUAL DEBT SERVICE ANNUAL SURPLUS/(DEFICIT) CUMULATIVE SURPLUS/(DEFICIT) *JULY* *SEPTEMBER* *SEPTEMBER* *SEPTEMBER* *SEPTEMBER* $0 $31,433,200 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $31,433,200 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $36,825,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Through 9/1/09 for FY 10-11 Levy 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 128 128 128 128 128 128 128 128 128 128 128 128 128 128 426 426 426 426 426 426 426 426 426 426 426 426 426 426 169 169 169 169 169 169 169 169 169 169 169 169 169 169 368 368 368 368 368 368 368 368 368 368 368 368 368 368 432 432 432 432 432 432 432 432 432 432 432 432 432 432 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $445,706 $454,621 $463,713 $470,483 $480,088 $486,670 $499,840 $508,706 $518,115 $527,474 $542,116 $550,894 $0 $0 $429,553 $438,144 $446,907 $455,845 $464,962 $474,261 $483,746 $493,421 $503,290 $513,355 $523,623 $534,095 $0 $0 $42,486 $43,336 $44,202 $45,086 $45,988 $46,908 $47,846 $48,803 $49,779 $50,775 $51,790 $52,826 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,528 $2,579 $2,630 $2,683 $2,737 $2,791 $2,847 $2,904 $2,962 $3,021 $3,082 $3,143 $0 $0 $6,242 $6,367 $6,495 $6,624 $6,757 $6,892 $7,030 $7,171 $7,314 $7,460 $7,609 $7,762 $0 $0 $5,306 $5,412 $5,520 $5,631 $5,743 $5,858 $5,975 $6,095 $6,217 $6,341 $6,468 $6,597 $0 $0 $200,423 $204,431 $208,520 $212,690 $216,944 $221,283 $225,708 $230,223 $234,827 $239,524 $244,314 $249,200 $0 $0 $509,692 $519,886 $530,284 $540,889 $551,707 $562,741 $573,996 $585,476 $597,185 $609,129 $621,312 $633,738 $0 $0 $174,948 $178,447 $182,016 $185,657 $189,370 $193,157 $197,020 $200,961 $204,980 $209,080 $213,261 $217,526 $0 $0 $304,379 $310,467 $316,676 $323,010 $329,470 $336,059 $342,781 $349,636 $356,629 $363,762 $371,037 $378,458 $0 $0 $262,930 $268,188 $273,552 $279,023 $284,604 $290,296 $296,102 $302,024 $308,064 $314,226 $320,510 $326,920 $0 $0 $2,384,194 $2,431,878 $2,480,516 $2,527,621 $2,578,369 $2,626,917 $2,682,892 $2,735,419 $2,789,362 $2,844,146 $2,905,122 $2,961,160 $0 $36,825,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,682,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $320,282 $2,402,113 $2,402,113 $2,402,113 $2,432,113 $2,480,950 $2,527,550 $2,581,538 $2,632,038 $2,683,913 $2,736,588 $2,795,413 $2,849,256 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $320,282 $2,402,113 $2,402,113 $2,402,113 $2,432,113 $2,480,950 $2,527,550 $2,581,538 $2,632,038 $2,683,913 $2,736,588 $2,795,413 $2,849,256 $0 $0 $90,000 $91,800 $93,636 $95,509 $97,419 $99,367 $101,355 $103,382 $105,449 $107,558 $109,709 $111,904 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 ($320,282) ($107,919) ($62,035) ($15,233) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,384,194 $2,431,878 $2,480,516 $2,527,621 $2,578,369 $2,626,917 $2,682,892 $2,735,419 $2,789,362 $2,844,146 $2,905,122 $2,961,160 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 DEBT SERVICE SCHEDULE ASSUMES MARCH 1 AND SEPTEMBER 1 BOND PAYMENTS ---PAGE BREAK--- ANAHEIM CFD 08-1 (PLATINUM TRIANGLE): 82 Draft - Unaudited Page 3 CALENDAR YEAR - PAYMENTS TO BOND HOLDERS 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 V. AVERAGE ANNUAL SPECIAL TAX UNDEVELOPED PROPERTY, PER ACRE OTHER PROPERTY APPROVED PROPERTY, PER ACRE EXISTING PROPERTY, PER ACRE DEVELOPED PROPERTY NON-RESIDENTIAL PROPERTY, PER SF SFR 2,200 SF, PER UNIT SFR 2,000 - 2,199 SF, PER UNIT SFR 1,800 - 1,999 SF, PER UNIT SFR 1,600 - 1,799 SF, PER UNIT SFR 1,400 - 1,599 SF, PER UNIT SFR 1,200 - 1,399 SF, PER UNIT SFR 1,000 - 1,199 SF, PER UNIT SFR 800 - 999 SF, PER UNIT SFR < 800 SF, PER UNIT VI. MAXIMUM SPECIAL TAXES UNDEVELOPED PROPERTY OTHER PROPERTY APPROVED PROPERTY EXISTING PROPERTY DEVELOPED PROPERTY NON-RESIDENTIAL PROPERTY SFR 2,200 SF SFR 2,000 - 2,199 SF SFR 1,800 - 1,999 SF SFR 1,600 - 1,799 SF SFR 1,400 - 1,599 SF SFR 1,200 - 1,399 SF SFR 1,000 - 1,199 SF SFR 800 - 999 SF SFR < 800 SF TOTAL MAXIMUM SPECIAL TAXES VII. DEBT SERVICE COVERAGE GROSS DEBT SERVICE COVERAGE (DEV, EXIST & APP PROP)* GROSS DEBT SERVICE COVERAGE (DEV, EXIST & APP PROP)** GROSS DEBT SERVICE COVERAGE (ALL PROPERTY)** NET DEBT SERVICE COVERAGE $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $4,779 $4,875 $4,972 $5,045 $5,148 $5,218 $5,360 $5,455 $5,556 $5,656 $5,813 $5,907 $0 $0 $4,779 $4,875 $4,972 $5,072 $5,173 $5,277 $5,382 $5,490 $5,600 $5,712 $5,826 $5,942 $0.0000 $0.0000 $1.5215 $1.5519 $1.5829 $1.6146 $1.6469 $1.6798 $1.7134 $1.7477 $1.7827 $1.8183 $1.8547 $1.8918 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,528 $2,579 $2,630 $2,683 $2,737 $2,791 $2,847 $2,904 $2,962 $3,021 $3,082 $3,143 $0 $0 $2,081 $2,122 $2,165 $2,208 $2,252 $2,297 $2,343 $2,390 $2,438 $2,487 $2,536 $2,587 $0 $0 $1,769 $1,804 $1,840 $1,877 $1,914 $1,953 $1,992 $2,032 $2,072 $2,114 $2,156 $2,199 $0 $0 $1,566 $1,597 $1,629 $1,662 $1,695 $1,729 $1,763 $1,799 $1,835 $1,871 $1,909 $1,947 $0 $0 $1,196 $1,220 $1,245 $1,270 $1,295 $1,321 $1,347 $1,374 $1,402 $1,430 $1,458 $1,488 $0 $0 $1,035 $1,056 $1,077 $1,099 $1,121 $1,143 $1,166 $1,189 $1,213 $1,237 $1,262 $1,287 $0 $0 $827 $844 $861 $878 $895 $913 $931 $950 $969 $988 $1,008 $1,028 $0 $0 $609 $621 $633 $646 $659 $672 $685 $699 $713 $727 $742 $757 $26,073 $20,149 $20,552 $20,963 $21,382 $21,810 $22,246 $22,691 $23,145 $23,608 $24,080 $24,562 $25,053 $25,554 $10,698,000 $9,167,760 $9,351,115 $9,538,138 $9,728,900 $9,923,478 $10,121,948 $10,324,387 $10,530,875 $10,741,492 $10,956,322 $11,175,448 $11,398,957 $11,626,936 $546,026 $467,922 $477,281 $486,827 $496,563 $506,494 $516,624 $526,957 $537,496 $548,246 $559,211 $570,395 $581,803 $593,439 $40,836 $41,653 $42,486 $43,336 $44,202 $45,086 $45,988 $46,908 $47,846 $48,803 $49,779 $50,775 $51,790 $52,826 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,430 $2,479 $2,528 $2,579 $2,630 $2,683 $2,737 $2,791 $2,847 $2,904 $2,962 $3,021 $3,082 $3,143 $6,000 $6,120 $6,242 $6,367 $6,495 $6,624 $6,757 $6,892 $7,030 $7,171 $7,314 $7,460 $7,609 $7,762 $5,100 $5,202 $5,306 $5,412 $5,520 $5,631 $5,743 $5,858 $5,975 $6,095 $6,217 $6,341 $6,468 $6,597 $192,640 $196,493 $200,423 $204,431 $208,520 $212,690 $216,944 $221,283 $225,708 $230,223 $234,827 $239,524 $244,314 $249,200 $489,900 $499,698 $509,692 $519,886 $530,284 $540,889 $551,707 $562,741 $573,996 $585,476 $597,185 $609,129 $621,312 $633,738 $168,155 $171,518 $174,948 $178,447 $182,016 $185,657 $189,370 $193,157 $197,020 $200,961 $204,980 $209,080 $213,261 $217,526 $193,980 $298,411 $304,379 $310,467 $316,676 $323,010 $329,470 $336,059 $342,781 $349,636 $356,629 $363,762 $371,037 $378,458 $138,060 $257,774 $262,930 $268,188 $273,552 $279,023 $284,604 $290,296 $296,102 $302,024 $308,064 $314,226 $320,510 $326,920 $12,507,200 $11,135,179 $11,357,883 $11,585,041 $11,816,741 $12,053,076 $12,294,138 $12,540,021 $12,790,821 $13,046,637 $13,307,570 $13,573,722 $13,845,196 $14,122,100 NA NA NA 101.55% 103.58% 104.35% 104.34% 104.46% 104.32% 104.37% 104.40% 104.44% 104.28% 104.36% NA NA NA 477.59% 487.14% 490.76% 490.72% 491.30% 490.65% 490.86% 491.00% 491.18% 490.46% 490.82% NA NA NA 478.46% 488.03% 491.65% 491.61% 492.20% 491.55% 491.76% 491.90% 492.08% 491.36% 491.71% NA NA NA 478.46% 488.03% 491.65% 491.61% 492.20% 491.55% 491.76% 491.90% 492.08% 491.36% 491.71% * MAXIMUM SPECIAL TAXES (ASSUMING APPROVED PROPERTY AT MAXIMUM EXISTING PROPERTY TAX RATE) LESS CFD ADMINISTRATION, DIVIDED BY GROSS DEBT SERVICE MAXIMUM SPECIAL TAXES LESS CFD ADMINISTRATION, DIVIDED BY GROSS DEBT SERVICE MAXIMUM SPECIAL TAXES LESS CFD ADMINISTRATION PLUS RESERVE EARNINGS, DIVIDED BY GROSS DEBT SERVICE ---PAGE BREAK--- ANAHEIM CFD 08-1 (PLATINUM TRIANGLE): 82 Draft - Unaudited Page 4 CALENDAR YEAR - PAYMENTS TO BOND HOLDERS 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30 2030-31 2031-32 2032-33 2033-34 2034-35 2035-36 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 I. CFD BONDED INDEBTEDNESS CONSTRUCTION PROCEEDS SURPLUS/(SHORTFALL) TOTAL BOND FINANCED FACILITIES TOTAL BONDED INDEBTEDNESS II. ABSORPTION-BUILDING PERMITS (as of 9/1) UNDEVELOPED PROPERTY REMAINING UNDEVELOPED ACRES CUMULATIVE OTHER PROPERTY APPROVED PROPERTY EXISTING PROPERTY CUMULATIVE DEVELOPED PROPERTY NON-RESIDENTIAL SF SFR 2,200 SF SFR 2,000 - 2,199 SF SFR 1,800 - 1,999 SF SFR 1,600 - 1,799 SF SFR 1,400 - 1,599 SF SFR 1,200 - 1,399 SF SFR 1,000 - 1,199 SF SFR 800 - 999 SF SFR < 800 SF CUMULATIVE RESIDENTIAL UNITS III. MELLO-ROOS SPECIAL TAXES UNDEVELOPED PROPERTY SPECIAL TAXES OTHER PROPERTY SPECIAL TAXES APPROVED PROPERTY EXISTING PROPERTY DEVELOPED PROPERTY SPECIAL TAXES NON-RESIDENTIAL PROPERTY SFR 2,200 SF SFR 2,000 - 2,199 SF SFR 1,800 - 1,999 SF SFR 1,600 - 1,799 SF SFR 1,400 - 1,599 SF SFR 1,200 - 1,399 SF SFR 1,000 - 1,199 SF SFR 800 - 999 SF SFR < 800 SF TOTAL SPECIAL TAXES IV. SPECIAL TAX REQUIREMENT NEW BONDED INDEBTEDNESS RESERVE FUND ANNUAL GROSS DEBT SERVICE - SERIES A ANNUAL GROSS DEBT SERVICE - SERIES B ANNUAL GROSS DEBT SERVICE - SERIES C ANNUAL GROSS DEBT SERVICE - SERIES D ANNUAL GROSS DEBT SERVICE - SERIES E TOTAL ANNUAL DEBT SERVICE CFD ADMINISTRATION RESERVE FUND INTEREST DELINQUENCY) CAPITALIZED INTEREST PAY-AS-YOU-GO FUNDS NET ANNUAL DEBT SERVICE ANNUAL SURPLUS/(DEFICIT) CUMULATIVE SURPLUS/(DEFICIT) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 3.72 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 93.26 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 89.88 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 27,924 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 128 128 128 128 128 128 128 128 128 128 128 128 128 128 426 426 426 426 426 426 426 426 426 426 426 426 426 426 169 169 169 169 169 169 169 169 169 169 169 169 169 169 368 368 368 368 368 368 368 368 368 368 368 368 368 368 432 432 432 432 432 432 432 432 432 432 432 432 432 432 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 1,530 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $563,589 $574,397 $582,772 $598,154 $609,335 $622,021 $630,567 $642,978 $659,770 $672,909 $683,576 $701,084 $713,274 $724,448 $544,777 $555,672 $566,786 $578,122 $589,684 $601,478 $613,507 $625,777 $638,293 $651,059 $664,080 $677,362 $690,909 $704,727 $53,882 $54,960 $56,059 $57,180 $58,324 $59,490 $60,680 $61,894 $63,132 $64,394 $65,682 $66,996 $68,336 $69,703 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,206 $3,270 $3,336 $3,403 $3,471 $3,540 $3,611 $3,683 $3,757 $3,832 $3,909 $3,987 $4,066 $4,148 $7,917 $8,075 $8,237 $8,401 $8,569 $8,741 $8,916 $9,094 $9,276 $9,461 $9,651 $9,844 $10,041 $10,241 $6,729 $6,864 $7,001 $7,141 $7,284 $7,430 $7,578 $7,730 $7,884 $8,042 $8,203 $8,367 $8,534 $8,705 $254,184 $259,268 $264,453 $269,743 $275,137 $280,640 $286,253 $291,978 $297,818 $303,774 $309,849 $316,046 $322,367 $328,815 $646,413 $659,341 $672,528 $685,978 $699,698 $713,692 $727,966 $742,525 $757,375 $772,523 $787,973 $803,733 $819,808 $836,204 $221,877 $226,314 $230,841 $235,458 $240,167 $244,970 $249,869 $254,867 $259,964 $265,163 $270,467 $275,876 $281,394 $287,021 $386,027 $393,747 $401,622 $409,655 $417,848 $426,205 $434,729 $443,423 $452,292 $461,338 $470,564 $479,976 $489,575 $499,367 $333,459 $340,128 $346,930 $353,869 $360,946 $368,165 $375,529 $383,039 $390,700 $398,514 $406,484 $414,614 $422,906 $431,364 $3,022,061 $3,082,037 $3,140,566 $3,207,103 $3,270,463 $3,336,372 $3,399,205 $3,466,988 $3,540,260 $3,611,010 $3,680,438 $3,757,883 $3,831,209 $3,904,742 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,907,919 $2,965,613 $3,021,813 $3,085,975 $3,146,913 $3,210,350 $3,270,663 $3,335,875 $3,406,525 $3,474,600 $3,541,300 $3,615,963 $3,686,450 $3,757,088 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,907,919 $2,965,613 $3,021,813 $3,085,975 $3,146,913 $3,210,350 $3,270,663 $3,335,875 $3,406,525 $3,474,600 $3,541,300 $3,615,963 $3,686,450 $3,757,088 $114,142 $116,425 $118,753 $121,128 $123,551 $126,022 $128,542 $131,113 $133,735 $136,410 $139,138 $141,921 $144,759 $147,655 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,022,061 $3,082,037 $3,140,566 $3,207,103 $3,270,463 $3,336,372 $3,399,205 $3,466,988 $3,540,260 $3,611,010 $3,680,438 $3,757,883 $3,831,209 $3,904,742 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 DEBT SERVICE SCHEDULE ASSUMES MARCH 1 AND SEPTEMBER 1 BOND PAYMENTS ---PAGE BREAK--- ANAHEIM CFD 08-1 (PLATINUM TRIANGLE): 82 Draft - Unaudited Page 5 CALENDAR YEAR - PAYMENTS TO BOND HOLDERS 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30 2030-31 2031-32 2032-33 2033-34 2034-35 2035-36 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 V. AVERAGE ANNUAL SPECIAL TAX UNDEVELOPED PROPERTY, PER ACRE OTHER PROPERTY APPROVED PROPERTY, PER ACRE EXISTING PROPERTY, PER ACRE DEVELOPED PROPERTY NON-RESIDENTIAL PROPERTY, PER SF SFR 2,200 SF, PER UNIT SFR 2,000 - 2,199 SF, PER UNIT SFR 1,800 - 1,999 SF, PER UNIT SFR 1,600 - 1,799 SF, PER UNIT SFR 1,400 - 1,599 SF, PER UNIT SFR 1,200 - 1,399 SF, PER UNIT SFR 1,000 - 1,199 SF, PER UNIT SFR 800 - 999 SF, PER UNIT SFR < 800 SF, PER UNIT VI. MAXIMUM SPECIAL TAXES UNDEVELOPED PROPERTY OTHER PROPERTY APPROVED PROPERTY EXISTING PROPERTY DEVELOPED PROPERTY NON-RESIDENTIAL PROPERTY SFR 2,200 SF SFR 2,000 - 2,199 SF SFR 1,800 - 1,999 SF SFR 1,600 - 1,799 SF SFR 1,400 - 1,599 SF SFR 1,200 - 1,399 SF SFR 1,000 - 1,199 SF SFR 800 - 999 SF SFR < 800 SF TOTAL MAXIMUM SPECIAL TAXES VII. DEBT SERVICE COVERAGE GROSS DEBT SERVICE COVERAGE (DEV, EXIST & APP PROP)* GROSS DEBT SERVICE COVERAGE (DEV, EXIST & APP PROP)** GROSS DEBT SERVICE COVERAGE (ALL PROPERTY)** NET DEBT SERVICE COVERAGE $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,043 $6,159 $6,249 $6,414 $6,534 $6,670 $6,761 $6,894 $7,075 $7,215 $7,330 $7,518 $7,648 $7,768 $6,061 $6,182 $6,306 $6,432 $6,561 $6,692 $6,826 $6,962 $7,102 $7,244 $7,389 $7,536 $7,687 $7,841 $1.9296 $1.9682 $2.0076 $2.0477 $2.0887 $2.1304 $2.1730 $2.2165 $2.2608 $2.3061 $2.3522 $2.3992 $2.4472 $2.4962 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,206 $3,270 $3,336 $3,403 $3,471 $3,540 $3,611 $3,683 $3,757 $3,832 $3,909 $3,987 $4,066 $4,148 $2,639 $2,692 $2,746 $2,800 $2,856 $2,914 $2,972 $3,031 $3,092 $3,154 $3,217 $3,281 $3,347 $3,414 $2,243 $2,288 $2,334 $2,380 $2,428 $2,477 $2,526 $2,577 $2,628 $2,681 $2,734 $2,789 $2,845 $2,902 $1,986 $2,026 $2,066 $2,107 $2,150 $2,193 $2,236 $2,281 $2,327 $2,373 $2,421 $2,469 $2,518 $2,569 $1,517 $1,548 $1,579 $1,610 $1,642 $1,675 $1,709 $1,743 $1,778 $1,813 $1,850 $1,887 $1,924 $1,963 $1,313 $1,339 $1,366 $1,393 $1,421 $1,450 $1,479 $1,508 $1,538 $1,569 $1,600 $1,632 $1,665 $1,698 $1,049 $1,070 $1,091 $1,113 $1,135 $1,158 $1,181 $1,205 $1,229 $1,254 $1,279 $1,304 $1,330 $1,357 $772 $787 $803 $819 $836 $852 $869 $887 $904 $922 $941 $960 $979 $999 $26,065 $26,586 $27,118 $27,660 $28,214 $28,778 $29,353 $29,940 $30,539 $31,150 $31,773 $32,408 $33,057 $33,718 $11,859,475 $12,096,665 $12,338,598 $12,585,370 $12,837,077 $13,093,819 $13,355,695 $13,622,809 $13,895,265 $14,173,171 $14,456,634 $14,745,767 $15,040,682 $15,341,496 $605,308 $617,414 $629,762 $642,357 $655,204 $668,309 $681,675 $695,308 $709,214 $723,399 $737,867 $752,624 $767,676 $783,030 $53,882 $54,960 $56,059 $57,180 $58,324 $59,490 $60,680 $61,894 $63,132 $64,394 $65,682 $66,996 $68,336 $69,703 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,206 $3,270 $3,336 $3,403 $3,471 $3,540 $3,611 $3,683 $3,757 $3,832 $3,909 $3,987 $4,066 $4,148 $7,917 $8,075 $8,237 $8,401 $8,569 $8,741 $8,916 $9,094 $9,276 $9,461 $9,651 $9,844 $10,041 $10,241 $6,729 $6,864 $7,001 $7,141 $7,284 $7,430 $7,578 $7,730 $7,884 $8,042 $8,203 $8,367 $8,534 $8,705 $254,184 $259,268 $264,453 $269,743 $275,137 $280,640 $286,253 $291,978 $297,818 $303,774 $309,849 $316,046 $322,367 $328,815 $646,413 $659,341 $672,528 $685,978 $699,698 $713,692 $727,966 $742,525 $757,375 $772,523 $787,973 $803,733 $819,808 $836,204 $221,877 $226,314 $230,841 $235,458 $240,167 $244,970 $249,869 $254,867 $259,964 $265,163 $270,467 $275,876 $281,394 $287,021 $386,027 $393,747 $401,622 $409,655 $417,848 $426,205 $434,729 $443,423 $452,292 $461,338 $470,564 $479,976 $489,575 $499,367 $333,459 $340,128 $346,930 $353,869 $360,946 $368,165 $375,529 $383,039 $390,700 $398,514 $406,484 $414,614 $422,906 $431,364 $14,404,542 $14,692,633 $14,986,485 $15,286,215 $15,591,939 $15,903,778 $16,221,854 $16,546,291 $16,877,217 $17,214,761 $17,559,056 $17,910,237 $18,268,442 $18,633,811 104.30% 104.32% 104.42% 104.30% 104.32% 104.31% 104.43% 104.44% 104.32% 104.32% 104.40% 104.29% 104.34% 104.43% 490.53% 490.61% 491.12% 490.52% 490.65% 490.57% 491.15% 491.18% 490.62% 490.62% 491.01% 490.49% 490.73% 491.14% 491.43% 491.51% 492.01% 491.42% 491.54% 491.47% 492.05% 492.08% 491.51% 491.52% 491.91% 491.39% 491.63% 492.03% 491.43% 491.51% 492.01% 491.42% 491.54% 491.47% 492.05% 492.08% 491.51% 491.52% 491.91% 491.39% 491.63% 492.03% * MAXIMUM SPECIAL TAXES (ASSUMING APPROVED PROPERTY AT MAXIMUM EXISTING PROPERTY TAX RATE) LESS CFD ADMINISTRATION, DIVIDED BY GROSS DEBT SERVICE * MAXIMUM SPECIAL TAXES LESS CFD ADMINISTRATION, DIVIDED BY GROSS DEBT SERVICE MAXIMUM SPECIAL TAXES LESS CFD ADMINISTRATION PLUS RESERVE EARNINGS, DIVIDED BY GROSS DEBT SERVICE ---PAGE BREAK--- ANAHEIM CFD 08-1 (PLATINUM TRIANGLE): 82 Draft - Unaudited Page 6 CALENDAR YEAR - PAYMENTS TO BOND HOLDERS 2036-37 2037-38 2038-39 2039-40 2037 2038 2039 2040 TOTAL I. CFD BONDED INDEBTEDNESS CONSTRUCTION PROCEEDS SURPLUS/(SHORTFALL) TOTAL BOND FINANCED FACILITIES TOTAL BONDED INDEBTEDNESS II. ABSORPTION-BUILDING PERMITS (as of 9/1) UNDEVELOPED PROPERTY REMAINING UNDEVELOPED ACRES CUMULATIVE OTHER PROPERTY APPROVED PROPERTY EXISTING PROPERTY CUMULATIVE DEVELOPED PROPERTY NON-RESIDENTIAL SF SFR 2,200 SF SFR 2,000 - 2,199 SF SFR 1,800 - 1,999 SF SFR 1,600 - 1,799 SF SFR 1,400 - 1,599 SF SFR 1,200 - 1,399 SF SFR 1,000 - 1,199 SF SFR 800 - 999 SF SFR < 800 SF CUMULATIVE RESIDENTIAL UNITS III. MELLO-ROOS SPECIAL TAXES UNDEVELOPED PROPERTY SPECIAL TAXES OTHER PROPERTY SPECIAL TAXES APPROVED PROPERTY EXISTING PROPERTY DEVELOPED PROPERTY SPECIAL TAXES NON-RESIDENTIAL PROPERTY SFR 2,200 SF SFR 2,000 - 2,199 SF SFR 1,800 - 1,999 SF SFR 1,600 - 1,799 SF SFR 1,400 - 1,599 SF SFR 1,200 - 1,399 SF SFR 1,000 - 1,199 SF SFR 800 - 999 SF SFR < 800 SF TOTAL SPECIAL TAXES IV. SPECIAL TAX REQUIREMENT NEW BONDED INDEBTEDNESS RESERVE FUND ANNUAL GROSS DEBT SERVICE - SERIES A ANNUAL GROSS DEBT SERVICE - SERIES B ANNUAL GROSS DEBT SERVICE - SERIES C ANNUAL GROSS DEBT SERVICE - SERIES D ANNUAL GROSS DEBT SERVICE - SERIES E TOTAL ANNUAL DEBT SERVICE CFD ADMINISTRATION RESERVE FUND INTEREST DELINQUENCY) CAPITALIZED INTEREST PAY-AS-YOU-GO FUNDS NET ANNUAL DEBT SERVICE ANNUAL SURPLUS/(DEFICIT) CUMULATIVE SURPLUS/(DEFICIT) $0 $0 $0 $0 $31,433,200 $0 $0 $0 $0 $0 $0 $0 $0 $0 $31,433,200 $0 $0 $0 $0 $36,825,000 3.72 3.72 3.72 3.72 NA 93.26 93.26 93.26 93.26 NA 89.88 89.88 89.88 89.88 NA 27,924 27,924 27,924 27,924 NA 0 0 0 0 NA 1 1 1 1 NA 3 3 3 3 NA 3 3 3 3 NA 128 128 128 128 NA 426 426 426 426 NA 169 169 169 169 NA 368 368 368 368 NA 432 432 432 432 NA 1,530 1,530 1,530 1,530 NA $0 $0 $0 $0 $0 $743,570 $753,929 $769,826 $17,194,622 $718,821 $733,198 $747,862 $120,657 $16,783,971 $71,097 $72,518 $73,969 $11,934 $1,660,054 $0 $0 $0 $0 $0 $4,231 $4,315 $4,402 $710 $98,784 $10,446 $10,655 $10,868 $1,753 $243,910 $8,879 $9,057 $9,238 $1,490 $207,324 $335,391 $342,099 $348,941 $56,297 $7,831,139 $852,928 $869,986 $887,386 $143,167 $19,915,257 $292,762 $298,617 $304,590 $49,141 $6,835,783 $509,354 $519,541 $529,932 $85,497 $11,893,055 $439,992 $448,791 $457,767 $73,854 $10,273,492 $3,987,470 $4,062,707 $4,144,780 $544,501 $92,937,391 $0 $0 $0 ($36,825,000) $36,825,000 $0 $0 $0 ($3,682,500) $3,682,500 $3,836,863 $3,909,088 $3,988,088 $4,067,175 $93,474,232 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,836,863 $3,909,088 $3,988,088 $4,067,175 $93,474,232 $150,608 $153,620 $156,692 $159,826 $3,651,127 $0 $0 $0 $0 $0 $0 $0 $0 $0 ($505,468) $0 $0 $0 $0 $0 $3,987,470 $4,062,707 $4,144,780 $544,501 $92,937,391 $0 $0 $0 $0 NA $0 $0 $0 $0 NA DEBT SERVICE SCHEDULE ASSUMES MARCH 1 AND SEPTEMBER 1 BOND PAYMENTS ---PAGE BREAK--- ANAHEIM CFD 08-1 (PLATINUM TRIANGLE): 82 Draft - Unaudited Page 7 CALENDAR YEAR - PAYMENTS TO BOND HOLDERS 2036-37 2037-38 2038-39 2039-40 2037 2038 2039 2040 TOTAL V. AVERAGE ANNUAL SPECIAL TAX UNDEVELOPED PROPERTY, PER ACRE OTHER PROPERTY APPROVED PROPERTY, PER ACRE EXISTING PROPERTY, PER ACRE DEVELOPED PROPERTY NON-RESIDENTIAL PROPERTY, PER SF SFR 2,200 SF, PER UNIT SFR 2,000 - 2,199 SF, PER UNIT SFR 1,800 - 1,999 SF, PER UNIT SFR 1,600 - 1,799 SF, PER UNIT SFR 1,400 - 1,599 SF, PER UNIT SFR 1,200 - 1,399 SF, PER UNIT SFR 1,000 - 1,199 SF, PER UNIT SFR 800 - 999 SF, PER UNIT SFR < 800 SF, PER UNIT VI. MAXIMUM SPECIAL TAXES UNDEVELOPED PROPERTY OTHER PROPERTY APPROVED PROPERTY EXISTING PROPERTY DEVELOPED PROPERTY NON-RESIDENTIAL PROPERTY SFR 2,200 SF SFR 2,000 - 2,199 SF SFR 1,800 - 1,999 SF SFR 1,600 - 1,799 SF SFR 1,400 - 1,599 SF SFR 1,200 - 1,399 SF SFR 1,000 - 1,199 SF SFR 800 - 999 SF SFR < 800 SF TOTAL MAXIMUM SPECIAL TAXES VII. DEBT SERVICE COVERAGE GROSS DEBT SERVICE COVERAGE (DEV, EXIST & APP PROP)* GROSS DEBT SERVICE COVERAGE (DEV, EXIST & APP PROP)** GROSS DEBT SERVICE COVERAGE (ALL PROPERTY)** NET DEBT SERVICE COVERAGE $0 $0 $0 $0 NA $7,973 $8,084 $8,255 NA $7,998 $8,158 $8,321 $1,342 NA $2.5461 $2.5970 $2.6489 $0.4274 NA $0 $0 $0 $0 NA $4,231 $4,315 $4,402 $710 NA $3,482 $3,552 $3,623 $584 NA $2,960 $3,019 $3,079 $497 NA $2,620 $2,673 $2,726 $440 NA $2,002 $2,042 $2,083 $336 NA $1,732 $1,767 $1,802 $291 NA $1,384 $1,412 $1,440 $232 NA $1,018 $1,039 $1,060 $171 NA $34,392 $35,080 $35,782 $36,497 $879,978 $15,648,326 $15,961,292 $16,280,518 $16,606,128 $399,222,542 $798,691 $814,664 $830,958 $847,577 $20,376,319 $71,097 $72,518 $73,969 $75,448 $1,806,058 $0 $0 $0 $0 $0 $4,231 $4,315 $4,402 $4,490 $107,472 $10,446 $10,655 $10,868 $11,086 $265,362 $8,879 $9,057 $9,238 $9,423 $225,558 $335,391 $342,099 $348,941 $355,920 $8,519,895 $852,928 $869,986 $887,386 $905,134 $21,666,822 $292,762 $298,617 $304,590 $310,681 $7,436,996 $509,354 $519,541 $529,932 $540,531 $12,840,480 $439,992 $448,791 $457,767 $466,923 $11,062,395 $19,006,487 $19,386,617 $19,774,349 $20,169,836 $484,409,875 104.30% 104.42% 104.40% 104.42% NA 490.54% 491.11% 491.01% 491.09% NA 491.44% 492.01% 491.91% 491.99% NA 491.44% 492.01% 491.91% 491.99% NA * MAXIMUM SPECIAL TAXES (ASSUMING APPROVED PROPERTY AT MAXIMUM EXISTING PROPERTY TAX * MAXIMUM SPECIAL TAXES LESS CFD ADMINISTRATION, DIVIDED BY GROSS DEBT SERVICE MAXIMUM SPECIAL TAXES LESS CFD ADMINISTRATION PLUS RESERVE EARNINGS, DIVIDED BY GROSS