Debt Management Plan Fiscal Year Ended June 30, 2007 COCONINO MOHAVE APACHE NAVAJO YAVAPAI LA PAZ MARICOPA COUNTY GILA GREENLEE PINAL GRAHAM YUMA PIMA COCHISE SANTA CRUZ Maricopa County, Arizona Debt Management Plan Table of Contents INTRODUCTION TO DEBT ............................................................................................ 1 Current Debt Situation ............................................................................................... 1 Debt Issuance History................................................................................................ 2 Financing Alternatives............................................................................................... 3 Pay-As-You-Go Financing ......................................................................................... 3 Grants.......................................................................................................................... 4 Short-Term Borrowing (Notes).................................................................................. 4 General Obligation Bonds (GO) ................................................................................ 4 Revenue Bonds .......................................................................................................... 5 Special Assessment Bonds ...................................................................................... 5 Certificates of Participation (COP)............................................................................ 5 Lease Trust Certificates............................................................................................. 5 Installment Purchase Agreements............................................................................ 5 Debt Limit.................................................................................................................... 6 Rating Agency Analysis ............................................................................................ 6 History of Debt Rating ............................................................................................... 7 Ratio Analysis ............................................................................................................ 8 General Obligation Bonds ....................................................................................... 10 Lease Revenue Bonds ............................................................................................. 10 Lease Trust Certificates........................................................................................... 13 Stadium District........................................................................................................ 13 Stadium District Contractual Commitments .......................................................... 15 Stadium District Loans Payable.............................................................................. 15 Special Assessment Districts ................................................................................. 16 Certificates of Participation..................................................................................... 17 Capital Leases (Lease-Purchase Obligations)....................................................... 18 Installment Purchase Contracts Payable ............................................................... 19 DEBT POLICIES........................................................................................................... 22 i Maricopa County, Arizona Department of Finance Debt Management Division Administration of Policy .......................................................................................... 22 Use of Debt Financing ............................................................................................. 22 Method of Sale.......................................................................................................... 22 Competitive Sale ...................................................................................................... 22 Negotiated Sale ........................................................................................................ 22 Use of Bond Insurance ............................................................................................ 23 Arbitrage Liability Management .............................................................................. 23 Selection of Professional Services......................................................................... 23 Continuing Disclosure of County Financial Information ...................................... 24 Maturity Structures .................................................................................................. 25 Ratings ...................................................................................................................... 25 Modification to Policies ........................................................................................... 25 INDIVIDUAL DEBT SERVICE SCHEDULES ............................................................... 28 ii Maricopa County, Arizona Department of Finance Debt Management Division INTRODUCTION TO DEBT Debt Management Plan INTRODUCTION TO DEBT A comprehensive debt plan should be developed by all jurisdictions intending to issue debt. The purpose of Maricopa County’s Debt Management Plan is to set forth the parameters for issuing debt, to manage the debt portfolio and provide guidance to decision makers regarding the timing and purposes for which debt may be issued. Provisions of the debt plan must be compatible with the County’s goals pertaining to the capital program and budget, the financial plan, and the operating budget. A debt plan should strike an appropriate balance between establishing limits on the debt program and providing sufficient flexibility to enable the County to respond to unforeseen circumstances and new opportunities that may benefit the County. This document is not intended to review the County’s total financial position. It is a study of the County’s current debt position, as growth in the County could result in an increased need for capital financing. Revenues, as well as needs, should drive the County’s debt issuance program. Decisions regarding the use of debt will be based in part on the long-term needs of the County and the amount of equity (cash) dedicated in a given fiscal year to capital outlay. A disciplined, systematic approach to debt management should allow the County to enhance its credit ratings, while at the same time meeting the growing demands of the County’s capital projects. The information contained herein reflects the current debt status of Maricopa County for the fiscal year ended June 30, 2007. The tables have been compiled by the Department of Finance. Portions of this Debt Management Plan are contained in the Comprehensive Annual Financial Report (CAFR) for the fiscal year ended June 30, 2007. A copy of the CAFR can be obtained at: http://www.maricopa.gov/finance. Current Debt Situation It is recognized that all debt, regardless of the source of revenue pledged for repayment, represents some sort of cost to taxpayers or ratepayers. Therefore, all types of County debt/obligations are considered herein. While lease-secured and certificates of participation obligations may not be debt under strict legal definitions, they still require future appropriations and are a fixed charge. These lease payments and other non-bonded obligations are added by most security analysts when calculating an issuer’s debt ratios. 1 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan Debt Issuance History The County has used debt financing for many years to finance capital projects. The following chart illustrates the amount of debt, as well as, categories of outstanding debt for the fiscal year ended June 30, 2007. LONG-TERM LIABILITIES All Categories of Debt (2) Maricopa County, Arizona As of June 30, 2007 Year Ending June 30 2003 2004 2005 2006 2007 GOVERNMENTAL ACTIVITES: Bonds, loans, and other payables: General obligation bonds $ Lease revenue bonds (4) 39,515,000 $ 20,165,000 91,558,756 Lease trust certificates 0 Stadium District revenue bonds (1) $ 93,569,382 0 0 $ 0 $ 0 101,101,501 81,188,067 181,245,043 10,812,000 9,212,000 6,812,000 57,225,000 55,225,000 52,735,000 50,050,000 47,230,000 7,888,888 6,428,888 4,428,888 2,428,888 978,394 368,573 343,102 235,458 154,267 103,077 50,811 0 0 0 0 Housing Department loans (3) 1,641,310 0 0 0 0 Certificates of participation (4) 5,808,084 0 5,500,000 5,115,000 4,715,000 0 0 892,254 546,202 205,765 19,414,904 10,820,105 13,507,633 16,312,891 33,039,132 $ 223,471,326 $ 186,551,477 $ 189,212,734 $ 165,007,315 $ 274,328,411 $ $ $ Stadium District contractual obligations/loans payable (1) Special assessment debt with governmental commitment (1) Housing Department bonds (3) Installment purchase agreements (4) Capital leases Total Governmental activities BUSINESS-TYPE ACTIVITES: Bonds and other payables: Lease revenue bonds (4) Certificates of participation (4) 16,670,618 10,940,368 Installment purchase agreements (4) Total Business-type activities 17,986,244 5,865,000 2,350,524 $ 31,277,136 0 1,252,049 $ 23,787,667 43,499 $ 0 $ 43,499 $ 36,933 $ 0 0 36,933 $ 29,957 0 0 29,957 Notes: (1) Does not represent an obligation of the County. (2) Long-term liabilities excludes claims and judgments payable, reported and incurred but not reported claims, and liabilities for closure and postclosure costs. (3) On July 1, 2003, the Housing Authority of Maricopa County became a legally separate entity and will be reported as a discretely presented component unit. During fiscal year 2004, the Authority implemented HUD Flyer No. 4. As a result, long-term debt (bonds and loans) were written off as the debt is ultimately secured by HUD. 2 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan (4) On January 1, 2005, the Medical Center was transitioned to the Maricopa County Special Health Care District, a separate legal entity that is not part of the County’s reporting entity. The long-term debt obligations, as previously reported in the Medical Center Fund, a major enterprise fund, which include lease revenue bonds of $15,207,425, certificates of participation of $5,500,000, and installment purchase agreements of $1,090,234, were transferred to governmental activities as they are the responsibility of the County. The County will continue to pay the debt service including principal and interest when due and will be reimbursed by the Maricopa County Special Health Care District pursuant to the District’s intergovernmental agreement with the County. Financing Alternatives The County should evaluate all potential funding sources before considering which method of financing may be the most appropriate. Sources of funding may include: current revenues and fund balances; intergovernmental grants from federal, state or other sources; state revolving funds or loan pools; private sector contributions through impact fees or public/private partnerships; and leasing. There are many sources of funding, depending on the type of debt to be incurred and the length of time for repayment. Short-term financing is defined as debt maturing not later than one year after the date of its issuance. There are basically three reasons for using short-term debt: • A vehicle to deal with temporary cash flow difficulties. This situation arises when cash receipts do not follow the same pattern as cash outlays. • To handle unexpected costs resulting from natural emergencies or other significant unexpected events. • In anticipation of issuing a long-term bond for capital financing. This form of financing offers an opportunity to borrow for short periods until the true, final costs of a project are known. Pay-As-You-Go Financing This method means that capital projects are paid for from the government’s current revenue base. The County does not issue bonds and does not have to repay the borrowings over time. There are several advantages to this method. For example, pay-as-you-go financing will save the amount of interest which otherwise would be paid on bonds issued to finance the program. The government is not encumbered by as much debt service when economic conditions deteriorate due to normal business cycles. Since the use of current revenues can be adjusted in a given budget year, pay-as-you-go financing can provide greater budgetary flexibility than does a debt issue. The jurisdiction’s long-term debt capacity is preserved for the future. Finally, lower debt ratios may have a positive effect upon the jurisdiction’s credit rating. Relying on current revenues to finance capital improvements also presents several disadvantages. Exclusive reliance upon pay-as-you-go funds for capital improvements means that existing residents are obliged to pay for improvements that will benefit new residents who relocate to the area. If the jurisdiction is forced to finance the improvements within a single budget, the large capital outlay required for some projects may result in an onerous tax burden. The County must be careful to ensure that the use of current revenues for capital projects does not diminish its availability to respond to emergencies and ongoing mandated services. 3 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan Grants Government grants stem from a variety of sources, but the majority of grant revenues for capital projects come from federal and state governments. Grants often require a County matching contribution. Most grants require an application from the County, identifying specific improvements or equipment that will be purchased with the grant money. Short-Term Borrowing (Notes) Tax Anticipation Notes (TANs) are notes issued in anticipation of the collection of taxes, as referenced in the Arizona Revised Statutes (A.R.S.), Title 35, Chapter 3, Article 3.1. They provide operating funds to meet regular payroll and other operating expenses. During the fiscal year when tax payments are received, sufficient sums are used to retire the note. The timing of the note sale, the note’s due date, and repayment of funds are all components of cash flow and cash management analysis. Lines and Letters of Credit – Where their use is judged by the Chief Financial Officer to be prudent and advantageous to the County, the County has the power to enter into agreements with commercial banks or other financial entities for purposes of acquiring lines or letters of credit. The Board of Supervisors must approve any agreement with financial institutions for the acquisition of lines or letters of credit. On July 1, 2006, the County entered into a $35,000,000 municipal revolving line of credit with an interest rate of 65% of the bank’s prime rate which has a maturity date of June 30, 2009. Outstanding principal and interest is due on June 30 of each year. During fiscal year 2007, the County had not borrowed against the line of credit. On July 1, 2006, the County entered into an $9,797,315 irrevocable standby letter of credit issued to the Industrial Commission of Arizona for unfunded workers’ compensation claims. The irrevocable standby letter of credit matured on July 1, 2007. The letter of credit was reserved against the municipal revolving line of credit. During fiscal year 2007, the letter of credit had not been drawn upon. The irrevocable standby letter of credit was renewed to July 1, 2008, for $5,870,994. General Obligation Bonds (GO) Bond security is the taxing power of the state or local government, as referenced in the A.R.S., Title 35, Chapter 3, Article 3, for new GO bonds and Title 35, Chapter 3, Article 4 for refunding bonds. An issuer selling a GO bond secured by its full faith and credit attaches to that issue its broadest pledge. This makes the security of these bonds very high. The full faith and credit backing of a GO bond includes the pledge of all general revenues, unless specifically limited, as well as, the legal means to raise tax rates to cover debt service. The public entity is authorized to levy property taxes or to draw from other unrestricted revenue streams such as sales or income taxes to pay the bond’s principal and interest. Interest rates on these bonds are generally the lowest of any public securities due to this superior security. Prior to issuance, Arizona GO bonds must have a majority vote approval from the residents of the County. 4 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan Revenue Bonds Revenue bonds are long-term debt instruments retired by specific dedicated revenues. Often these revenues are generated by the project funded out of debt proceeds. Revenue bonds are designed to be self-supporting through user fees or other special revenues (i.e. excise taxes, rents or fees). The general taxing powers of the jurisdiction are not pledged. The debt created through the issuance of revenue bonds is to be repaid by the earnings from the operations of a revenue producing enterprise, from special taxes, or from contract leases or rental agreements. County revenue bonds do not burden the constitutional or statutory debt limitation placed on the County because they are not backed by the full faith and credit of the issuer. The underlying security is the only revenue stream pledged to pay the bond principal and interest. Special Assessment Bonds Special Assessment Bonds are issued to districts that are within a legally designated geographic area located within the County, which through the consent of the affected property owners pay for basic infrastructure and public improvements to the area through a supplemental assessment. This financing approach achieves the objective of tying the repayment of debt to those property owners who most directly benefit from the improvements financed. Certificates of Participation (COP) Certificates of Participation represent proportionate interests in semiannual lease payments. Participation in the lease is sold in the capital markets. The County’s obligation to make lease payments is subject to annual appropriations made by the County for that purpose. Rating agencies typically give Certificate of Participation issues a grade below that of General Obligation Bonds. A.R.S., Title 11, Chapter 2, Article 4, §11-251, Paragraph 46, provides for a maximum repayment term of twenty five years for the purchase or improvement of real property. Lease Trust Certificates Lease Trust Certificates financing provides long-term financing through a lease (with a mandatory purchase provision). This method does not constitute indebtedness under a state or local government’s constitutional debt limit and does not require voter approval. In a lease-purchase transaction, the asset being financed can include new capital asset needs or assets under existing lease agreements. Installment Purchase Agreements Same as a lease purchase agreement with the exception that the County takes title to the property up front. 5 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan Debt Limit The Arizona Constitution, Article 9, Section 8, states that a County indebtedness pertaining to general obligation bonds may not exceed six percent of the value of the County’s taxable property ascertained by the last assessment. All general obligation bonds must be approved by voters regardless of amount issued up to the six percent limit. The County may issue non-general obligation bonds without voter approval up to six percent of the taxable property. However, with voter approval, the County may become indebted for an amount not to exceed fifteen percent of such taxable property. The following table represents the County’s outstanding general obligation indebtedness with respect to its constitutional general obligation debt limitation. 2006-07 Constitutional General Obligation Bonding Capacity Maricopa County, Arizona 2005-06 Secondary Assessed Valuation 15% of Secondary Assessed Valuation Less: GO Bonded Debt Outstanding Plus: GO Debt Service Fund Balance Unused Fifteen Percent Borrowing Capacity $ 36,294,693,601 $ 5,444,204,040 5,444,204,040 Rating Agency Analysis Independent assessments of the relative credit worthiness of municipal securities are provided by rating agencies. They furnish letter grades that convey their assessment of the ability and willingness of a borrower to repay its debt in full and on time. Credit ratings issued by these agencies are a major function in determining the cost of borrowed funds in the municipal bond market. Moody’s Investors Service, Standard and Poor’s Corporation, and Fitch Ratings are the three major rating agencies that rate municipal debt. These rating agencies have provided a rating assessment of credit worthiness for Maricopa County. There are five primary factors that comprise their ratings: • • • • • Economic conditions – stability of trends, Debt-history of County – debt and debt position, Governmental/administration – leadership and organizational structure of the County, Financial performance – current financial status and the history of financial reports, Debt management – debt policies, including long-term planning. Each of the rating agencies has their own method of assigning a rating on the ability and willingness of a borrower to repay in full and on time. Issuers must pay a fee for the opportunity to have one or more rating agencies rate existing and proposed debt issuance. The following chart outlines how the ratings reflect creditworthiness, ranging from very strong securities to speculative and default situations. 6 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan Examples of the rating systems are: BOND RATINGS Explanation of corporate/municipal bond ratings RATING AGENCIES Fitch Moody’s Standard & Poor’s Premium quality High quality Medium quality AAA AA A Aaa Aa A AAA AA A Medium grade, lower quality Predominantly speculative Speculative, low grade BBB BB B Baa Ba B BBB BB B Poor to default Highest speculation Lowest quality, no interest CCC CC C Caa Ca C CCC CC C In default, in arrears Questionable value DDD DD D DDD DD D Fitch and Standard & Poor’s may use “+” or “-” to modify ratings while Moody’s may use numerical modifiers such as 1 (highest), 2, or 3. History of Debt Rating The County’s most recent bond rating was on August 21, 2007, when Maricopa County received an issuer credit rating on its General Obligation bonds of AAA as well as a bond rating of AA+ on its Lease Revenue and Refunding Bonds, Series 2007A and B from Standard & Poor’s Rating Service. Standard & Poor’s Rating Service Press Release dated August 21, 2007, states that the bond rating reflects Maricopa County’s “increasingly strong financial patterns; conservative financial planning; strong revenue growth and conservative spending patterns; very low debt ratios and manageable capital needs; and complete insulation from the County’s health care system.” On April 26, 2007, Maricopa County received an implied unlimited tax bond rating on its General Obligation bonds of Aa1 as well as a bond rating upgrade from A1 to Aa2 on its Lease Revenue bonds along with a bond rating upgrade from A2 to Aa3 on its Certificates of Participation from Moody’s Investors Service. Moody’s Investor Service Press Release dated April 26, 2007, states that the bond rating “upgrades reflect the significant expansion in the County’s regional economy and tax base, very low debt burdens” as well as the “voter approval to create an independent hospital district with its own taxing authority…and significantly improved financial policies and practices at the County.” On April 25, 2007, Maricopa County received an implied bond rating on its General Obligation bonds of AAA as well as a bond rating upgrade from AA to AA+ on its Lease Revenue bonds and Certificates of Participation from Fitch Ratings. Fitch Ratings Press Release dated April 25, 2007, states that the bond rating “reflects Maricopa County’s expansion of large financial reserves, a record of continued economic growth and diversification, successful fiscal reforms, and the 7 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan county’s modest debt profile…The successful transfer of the medical center to a separate special health district provides further credit comfort.” The County’s bond ratings are published on the internet at the following location: http://www.maricopa.gov/Finance The following illustrates a history of the County’s various debt ratings. Type of Debt General Obligation Stadium District Revenue Bonds Date Date Date Rating Rating Standard & Rating Fitch Assigned Moody's Assigned Poor's Assigned AAA(1) 4/25/07 Aa1(1) 4/26/07 AAA(1) 8/21/07 AA+ 11/11/03 Aa3 12/6/01 A+ 4/11/97 AA 12/4/01 Aa3 5/26/00 A 5/27/94 AA 4/5/00 A-1 11/6/98 AA 6/2/76 A-2 3/17/97 A 6/13/94 Aa 7/26/93 Aa-1 8/21/81 AAA (2) Aaa (3) AAA (3) (1) Bond rating is “Implied” (2) Bonds are insured, underlying rating. (3) Bonds are insured, no underlying rating. Ratio Analysis Rating analysts compare direct net debt to the population in order to measure the size or magnitude of the County’s debt. This ratio is referred to as the Direct Net Debt Per Capita Ratio. The same ratio is applied to all debt within the County which includes School Districts, Cities and Towns, and Special Districts. This ratio is referred to as the Overall Net Debt Per Capita Ratio. The taxable value of the County is a measure of the County’s wealth. It also reflects the capacity of the County’s ability to service current and future debt. The ratio of Direct Net Debt as a percentage of Full Value (FV) Property is the comparison of direct net debt to the County's taxable value. The same ratio is applied to all debt within the County and is referred to as the Overall Net Debt as a percentage of Full Value Property. The Full Value Property Per Capita ratio represents the per capita value of taxable property in the County. An explanation of how each ratio is calculated is included in the notes adjacent to the following tables. There are an infinite number of ratios, which could be calculated to measure the County’s debt burden. The following analysis focuses on commonly used ratios instead of creating customized ones. The ratios calculated are for governmental activities and do not include business-type activities. The source of repayment is from either the secondary tax levy or by appropriation from the general fund for debt service payments. Debt for which there is a source of repayment; i.e. pledged revenues for car rental service charge, debt service has been excluded. 8 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan DIRECT AND OVERALL NET DEBT MARICOPA COUNTY, ARIZONA Audited 6/30/06 GOVERNMENTAL ACTIVITES Unaudited 6/30/07 Projected 6/30/08 Projected 6/30/09 Lease Revenue Bonds (5) $ 81,225,000 $ 181,275,000 Lease Trust Certificates 9,212,000 6,812,000 Certificates of Participation (5) 5,115,000 4,715,000 Capital Leases 16,312,891 33,039,132 Installment Purchase Agreements (5) 546,202 205,765 $ 112,411,093 $ 226,046,897 Direct Net Debt Overlapping Debt (1) 6,428,761,322 7,488,252,917 $ 6,541,172,415 $ 7,714,298,814 Overall Net Debt $ 173,670,000 $ 163,900,000 0 0 4,295,000 3,850,000 20,708,904 10,881,485 0 0 $ 198,673,904 $ 178,631,485 8,817,967,481 10,508,389,449 $ 9,016,641,385 $ 10,687,020,934 Population Estimate (2) Full Value of Taxable Property (3) $ 3,778,598 273,817,028 $ 3,880,181 301,474,323 $ 3,992,887 431,682,163 $ 4,105,623 516,677,465 Direct Net Debt Per Capita $ 29.75 $ 58.26 $ 49.76 $ 43.51 Overall Net Debt Per Capita $ 1,731.11 $ 1,988.13 $ 2,258.18 $ 2,603.02 0.0411% 0.0750% 0.0460% 0.0346% 2.39% 2.56% 2.09% 2.07% Ratios (4) Direct Net Debt As Percentage Of Full Value Property Overall Net Debt As % Of FV Property FV Property Per Capita $ 72,465.24 $ 77,695.94 $ 108,112.79 $ 125,846.30 Notes: (1) Projected overlapping debt for 2008 and 2009 was based on a three year average increase for General Obligation Bonds: Cities, Towns, School Districts and Special Assessment Districts. Source: www.azdor.gov (2) Projections for 2008 and 2009 are based on estimates provided by the Department of Economic Security. Source: www.workforce.az.gov (3) Full Cash Value` Taxable Property Estimates: 2008 and 2009 provided by Maricopa County Assessor’s Office; amounts are in billions (000’s omitted). (4) Summary of Debt Ratios: • Direct Net Debt per capita = Direct Net Debt/Population • Overall Net Debt per capita = Overall Net Debt/Population • Direct Net Debt as a percentage of full value property (FV) = Direct Net Debt/FV property • Overall Net Debt a percentage of FV Property = Overall Net Debt/FV property • FV property per capita = FV Property/Population 9 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan (5) Governmental activities direct and overall net debt includes the applicable portion of outstanding debt obligations that were reclassified from the transition of the Maricopa County Medical Center (businesstype activity) to the Maricopa County Special Health Care District, a separate legal entity. The debt obligations are included in the calculation as they are a direct obligation to the County and are not paid from pledged revenues. Maricopa County will be reimbursed by the Maricopa County Special Health Care District for the debt service payments paid on behalf of the County as provided for in the Intergovernmental Agreement. The following section of the Debt Management Plan contains information on the obligations of Maricopa County by debt type. General Obligation Bonds Long-term General Obligation Bonds shall be issued to finance significant capital improvements for purposes set forth by voters in bond elections. Interest rates on these bonds are generally the lowest of any public securities. Prior to issuance, Arizona GO Bonds must have a majority vote approval from the residents of the County. On July 1, 2004, the County made the final debt service payment on the outstanding General Obligation Bonds, which were the result of the 1986 general election where the voters authorized the County to issue long-term debt. The resulting proceeds from the sale of the bonds were used for the purpose of making improvements in the County which included Criminal and Civil Courts Facilities, Juvenile Court – Juvenile Treatment and Detention Facilities, Law Enforcement and Public Safety, Regional Park Improvements, Environmental Protection, Sanitary Landfill, Public Health Facilities, Infrastructure, Communication Improvements, etc. Legal Debt Margin – County indebtedness pertaining to general obligation bonds may not exceed six percent of the value of the County’s taxable property ascertained by the last assessment. However, with voter approval, the County may become indebted for an amount not to exceed 15 percent of such taxable property. At June 30, 2007, the County had no outstanding general obligation debt, (0.00% of taxable property), while the 6 percent limit was $2,177,681,616 and the 15 percent limit was $5,444,204,040. Lease Revenue Bonds On June 1, 2001, the Maricopa County Public Finance Corporation issued $124,855,000 of Lease Revenue Bonds, Series 2001, to pay for the acquisition, construction and equipment for a planned County Administration Building, Jefferson Street Garage, Clerk of the Court Center, Forensic Science Center and related projects. The issue was also intended to fund improvements to the existing Security Center Building and Jackson Street Garage. Under the terms of the bond indentures the Corporation received the proceeds to construct and purchase these assets and the County will make lease payments to extinguish the debt. Lease payments will equal the aggregate amount of principal and interest due at that date. Upon the final lease payment, the title to the assets will transfer to the County. The County’s obligation to make lease payments will be subject to and dependent upon annual appropriations made by the County. 10 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan On December 3, 2003, the Maricopa County Public Finance Corporation issued Lease Revenue Refunding Bonds, Series 2003, of $16,880,000 (par value) with an interest rate ranging from 2.5% to 4% and maturing on July 1, 2012. The proceeds were used to advance refund the 2000 certificates of participation principal of $4,103,000, 1996 certificates of participation principal of $1,576,452, 1994 certificates of participation principal of $3,815,000, 1993 certificates of participation principal of $580,000, and several capital leases aggregating $11,104,817. The bonds were issued at a premium of $457,156 and debt service reserve accounts previously established totaling $4,461,354 were used for the current refunding and to pay cost of issuance expense. On August 29, 2005, the Maricopa County Public Finance Corporation defeased the Medical Center’s portion of the Series 2001 Lease Revenue Bonds in the amount of $10,605,000. The County contributed the cash to advance refund the bonds, which mature on July 1, 2006 through July 1, 2015; those bonds maturing on or after July 1, 2012, are callable on July 1, 2011, and are redeemable at par plus accrued interest. On May 23, 2007, the Maricopa County Public Finance Corporation issued $108,100,000 of Lease Revenue Bonds, Series 2007A, to pay for the acquisition, construction, and renovation for the Durango Animal Care and Control Facility and various court facilities. Under the terms of the bond indentures, the Corporation received the proceeds to construct and purchase these assets and the County will make lease payments to extinguish the debt. Bonds maturing after July 1, 2017, are subject to optional redemption in increments of $5,000 on July 1, 2016, or any date thereafter, at par plus accrued interest to the date fixed for redemption. In the event of nonappropriation, the bonds would be subject to special redemption at par plus accrued interest to the redemption date. On May 23, 2007, the Maricopa County Public Finance Corporation issued Lease Revenue Refunding Bonds, Series 2007B, for $32,840,000 (par value) with interest rates ranging from 4% to 5% and maturing from July 1, 2012 to July 1, 2015. The net bond proceeds were $34,414,011 which included a reoffering premium of $973,843, County contributions of $860,000, and cost of issuance of $259,831. The net proceeds were used to advance refund the Lease Revenue Bonds, Series 2001, of $32,215,000, with interest rates ranging from 4.75% to 5.5%, maturing from July 1, 2012 through July 1, 2015, and callable on July 1, 2011. The County defeased lease revenue bonds by placing the proceeds of new bonds in an irrevocable trust to provide for all future debt service payments on the old bonds. 11 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan SUMMARY OF LEASE REVENUE BOND AMOUNTS OUTSTANDING BY ISSUE As of June 30, 2007 Bond Issue 2001 Lease Revenue Bonds 2003 Lease Revenue Refunding Bonds 2007A Lease Revenue Bonds 2007B Lease Revenue Refunding Bonds Total Amount 33,140,000 7,195,000 108,100,000 32,840,000 $ 181,275,000 $ DEBT SERVICE REQUIREMENTS TO MATURITY Lease Revenue Bonds Maricopa County, Arizona As of June 30, 2007 Governmental Activities Year Ending June 30 2008 2009 2010 2011 2012 2013-17 2018-22 2023-27 2028-32 Total Principal 7,597,750 9,762,476 10,610,076 11,139,939 10,579,802 50,550,000 21,165,000 26,605,000 33,235,000 $ 181,245,043 Business-Type Activities Interest Principal 5,545,962 7,250 7,625,882 7,524 7,147,685 4,924 6,630,357 5,061 6,103,709 5,198 22,974,035 4,924 15,410,610 5,061 9,819,300 5,198 3,159,551 $ 84,417,090 $ 29,957 $ Interest 791 587 394 238 81 394 238 81 2,091 On January 1, 2005, the Maricopa County Medical Center (business-type activity) was transitioned to the Maricopa County Special Health Care District, a separate legal entity. The following represents the reimbursement schedule for debt service obligations to Maricopa County from the Maricopa County Special Health Care District as provided for in the Intergovernmental Agreement. REIMBURSEMENT REQUIREMENTS TO MATURITY Special Health Care District (Lease Revenue Bonds) Maricopa County, Arizona As of June 30, 2007 Year Ending June 30 2008 2009 2010 2011 2012 2013-16 Total Principal 1,606,741 1,478,163 1,526,943 1,603,528 1,075,113 4,927,438 $ 12,217,926 $ 12 Interest 563,380 503,182 435,430 363,562 297,639 554,964 2,718,157 Total Debt Service 2,170,121 1,981,345 1,962,373 1,967,090 1,372,752 5,482,402 $ 14,936,083 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan Lease Trust Certificates On August 28, 2004, the Maricopa County Public Finance Corporation entered into Lease Trust Certificates with a financial institution not to exceed $15,000,000 with a fixed interest rate of 4.165% and maturing on June 1, 2011. The Lease Trust Certificates will be on a draw down basis and will be re-amortized after each draw down. The purpose of the Lease Trust Certificates is to provide financing for the construction and capital equipment for the Human Services Campus. The County is obligated to make the principal and interest payments on the amounts borrowed under this agreement. As of June 30, 2007, the County had drawn all $15,000,000 from the lease trust certificates. SUMMARY OF PRINCIPAL AMOUNT OUTSTANDING BY ISSUE As of June 30, 2007 Lease Trust Certificates Issue Total Lease Trust Certificates, Series 2004 $ Amount 6,812,000 DEBT SERVICE REQUIREMENTS TO MATURITY Lease Trust Certificates Maricopa County, Arizona As of June 30, 2007 Year Ending June 30 2008 2009 2010 2011 2012 Total Principal 1,617,000 1,617,000 1,700,000 1,800,000 95,000 $ 6,812,000 $ Interest 250,394 183,401 114,327 41,441 1,978 591,541 Total Debt Service 1,867,394 1,800,401 1,814,327 1,841,441 96,978 $ 7,403,541 Stadium District The Stadium District was formed through action of the Maricopa County Board of Supervisors in September 1991 pursuant to the A.R.S., Title 48, Chapter 26. The Stadium District has two purposes: • To oversee the operation and maintenance of Bank One Ballpark, a major league baseball stadium, and • Enhance and promote major league baseball spring training in the County through the development of new, and the improvement of, existing baseball training facilities. To accomplish this purpose, the Stadium District possesses the statutory authority to issue special obligation bonds to provide financial assistance for the development and improvement of baseball training facilities located within the County. Twelve major league baseball teams hold spring training in Arizona as part of the Cactus League: Los Angeles Angels of Anaheim, 13 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan Chicago Cubs, Colorado Rockies, Milwaukee Brewers, Oakland Athletics, San Diego Padres, San Francisco Giants, Seattle Mariners, Chicago White Sox, Texas Rangers, Kansas City Royals and Arizona Diamondbacks. Beginning in the Spring of 2009, the Los Angeles Dodgers and the Cleveland Indians will also be holding spring training in Arizona. The Stadium District Revenue Bonds are special obligations of the District. The bonds are payable solely from pledged revenues, consisting of car rental surcharges levied and collected by the District pursuant to A.R.S., Title 48, Chapter 26, Article 2, §48-4234. Under the statute, the District may set the surcharge at $2.50 on each lease or rental of a motor vehicle licensed for hire, for less than one year, and designed to carry fewer than 15 passengers, regardless of whether such vehicle is licensed in the State of Arizona. The District Board of Directors initially levied a surcharge at a rate of $1.50 beginning in January 1992. The District Board of Directors increased the surcharge to $2.50, the maximum amount permitted by statute, in January 1993. The bonds do not constitute a debt or a pledge of the faith or credit of Maricopa County, the State of Arizona, or any other political subdivision. The payment of the bonds is enforceable solely out of the pledged revenues and no owner shall have any right to compel any exercise of taxing power of the District, except for surcharges. The following tables illustrate the existing debt service for the outstanding Stadium District Revenue Bonds. SUMMARY OF PRINCIPAL AMOUNT OUTSTANDING BY ISSUE As of June 30, 2007 Bond Issue Total Stadium District Revenue Bonds, Series 2002 $ Amount 47,230,000 DEBT SERVICE REQUIREMENTS TO MATURITY Stadium District Revenue Bonds Maricopa County, Arizona As of June 30, 2007 Year Ending June 30 2008 2009 2010 2011 2012 2013 – 17 2018 – 19 Total $ $ Principal 2,960,000 3,105,000 3,260,000 3,390,000 3,570,000 20,920,000 10,025,000 47,230,000 Interest $ 2,462,344 2,314,344 2,159,094 2,028,694 1,850,718 6,185,012 815,388 $ 17,815,594 14 Total Debt Service $ 5,422,344 5,419,344 5,419,094 5,418,694 5,420,718 27,105,012 10,840,388 $ 65,045,594 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan DEBT SERVICE REQUIREMENTS Stadium District Revenue Bonds Interest 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 Principal 2008 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 Stadium District Contractual Commitments On February 17, 1994, the Stadium District entered into an agreement with the Arizona Diamondbacks (Team) to provide for the financing of a portion of the costs of acquisitions and construction of a new major league baseball stadium. In connection with the agreement, the Stadium District committed to provide up to $253,000,000 for the cost of the new stadium. The $253,000,000 was funded through the use of $238,000,000 of the special sales tax levy imposed on April 1, 1995. Under the Facility Development Agreement for the major league baseball stadium, the Stadium District was obligated to obtain a loan in the amount not to exceed $15 million to pay for part of the Stadium District’s portion of construction costs. The Team agreed to include the Stadium District loan in its financing in order to allow the Stadium District to obtain more favorable financing terms, and the Stadium District agreed to repay the Team for this increase in the Team’s borrowing. At June 30, 2007, the Stadium District had paid in full its contractual commitments. Stadium District Loans Payable On July 25, 2006, the Stadium District entered into a cost-sharing agreement with the Arizona Diamondbacks (Team) for the enhancement of the sound system at Chase Field. Under the terms of the agreement, the Team provided $679,295 of the funding for the enhancement; and the agreement states that the Stadium District will pay the Team back over the next two years, ending December 2008. On January 23, 2007, the Stadium District entered into a cost-sharing agreement with the Arizona Diamondbacks (Team) for the renovation of suites at Chase Field. Under the terms of the agreement, the Team provided $537,723 of the funding for the renovations; and the agreement states that the Stadium District will pay the Team back over the next four years, ending December 2010. 15 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan DEBT SERVICE REQUIREMENTS TO MATURITY Stadium District Loans Payable Maricopa County, Arizona As of June 30, 2007 Year Ending June 30 2008 2009 2010 2011 Total $ $ Principal 220,335 399,577 179,241 179,241 978,394 Special Assessment Districts A Special Assessment District (County Improvement District) process begins with the circulation of a petition. The petition must be signed by either a majority of the persons owning real property or by the owners of fifty-one percent or more of the real property within the limits of the proposed district. With the approval of the petition by the Board of Supervisors, a new improvement district is established. County Improvement Districts are further described in A.R.S., Title 48, Chapter 6, Article 1. With the Board of Supervisors acting as the Board of Directors for each district, approval of an engineer, and the approval of plans, specifications and cost estimates soon follow. Each of these early phases of the improvement district process contain regulations for public notification through posting of the property, publication in the local newspaper, and the set up of a protest period. Once the Board approves the awarding of the bid, construction follows. Since the residents pay for these improvements, an assessment is levied against each property owner. Depending on the type of improvement, some assessments are carried on the property tax roll, while others are collected through the County Improvement District Office. If the property owners are unable to prepay the improvement assessment within 30 days after the completion of the work, bonds are sold for the balance of the construction amount. The bonds are collateralized by properties within the District. The receivable is held by the Improvement District, and billed on a semiannual basis. In cases of a delinquent payment of an assessment, the lien including penalty and interest may be sold at a public auction. If there is no purchaser for the lien, the District (not the County) will assume, as a general obligation, the amount of the assessment and interest accruing thereon. The following table illustrates the outstanding principal amount by issue for the Special Assessment District Bonds. 16 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan SUMMARY OF PRINCIPAL AMOUNT OUTSTANDING BY ISSUE As of June 30, 2007 Bond Issue Queen Creek Water Central Avenue Billings Street Marquerite Drive 7th Street North Total Amount $ 33,027 22,065 1,049 8,565 38,371 $ 103,077 Certificates of Participation Certificates of Participation represent proportionate interests in semiannual lease payments. The County’s obligation to make lease payments is subject to annual appropriations made by the County for that purpose. On November 1, 2000, Maricopa County Public Finance Corporation issued $6,975,000 of Certificates of Participation to pay for the cost of construction for the Desert Vista Health Center. The following schedule shows all outstanding debt service for the Certificates of Participation as of June 30, 2007. On January 1, 2005, the outstanding debt obligations were reclassified from the transition of the Maricopa County Medical Center (business-type activity) to the Maricopa County Special Health Care District, a separate legal entity. Maricopa County will pay the debt service including principal and interest as they become due and payable and will request reimbursement from the Maricopa County Special Health Care District as provided for in the Intergovernmental Agreement. The following schedule reflects the Maricopa County debt service requirements which will be reimbursed by the Maricopa County Special Health Care District as provided for in the Intergovernmental Agreement. SUMMARY OF PRINCIPAL AMOUNT OUTSTANDING BY ISSUE As of June 30, 2007 Certificate of Participation Issues Total Certificates of Participation, Series 2000 17 $ Amount 4,715,000 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan DEBT SERVICE REQUIREMENTS TO MATURITY Certificates of Participation Maricopa County, Arizona As of June 30, 2007 Governmental Activities Year Ending June 30 2008 2009 2010 2011 2012 2013 – 16 Total Principal 420,000 445,000 465,000 490,000 520,000 2,375,000 $ 4,715,000 Interest 233,258 212,170 189,759 166,000 140,490 266,396 $ 1,208,073 Capital Leases (Lease-Purchase Obligations) Maricopa County uses lease-purchase financing to expand its borrowing power. This financing technique provides long-term financing through a lease (with a mandatory purchase provision). Lease-purchase agreements use non-appropriation clauses to avoid being classified as long-term debt, which might be subject to State legal restrictions. This clause allows the government to terminate the lease without penalty. However, because it is not likely that the County would be willing to forego the property, lease-purchase agreements are considered long-term obligations for policy planning purposes, regardless of the legal structure. The County maintains many capital leases, with the majority relating to the computer equipment refresh program where most personal computers are replaced every three years. The security for lease-purchase financing is the lease payments made by the County and, where legally permitted, also the asset being financed. The following schedule shows all outstanding capital leases as of June 30, 2007. Capital Leases Governmental Activities Maricopa County, Arizona Fiscal Year Ending June 30, 2007 2008 2009 2010 2011 2012 Total minimum lease payments Less: Amount representing interest Present value of net minimum lease payments 18 $ 13,358,637 10,440,541 7,964,971 2,424,699 855,248 35,044,096 (2,004,964) $ 33,039,132 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan Installment Purchase Contracts Payable The County has entered into installment purchase contracts payable for the acquisition of medical equipment used in the Maricopa County Special Health Care District The Maricopa County Special Health Care District is obligated to reimburse the County for the debt service payments as provided for in the Intergovernmental Agreement. The total purchase price of the capital equipment was $2,382,705. The future minimum payments required under the contracts at June 30, 2007, are as follows. Installment Purchase Contracts Payable Governmental Activities Maricopa County, Arizona Fiscal Year Ending June 30, 2007 2008 Total minimum lease payments Less: Amount representing interest Present value of net minimum lease payments 19 $ 208,863 208,863 (3,098) 205,765 Maricopa County, Arizona Department of Finance Debt Management Division DEBT POLICIES 20 Maricopa County, Arizona Department of Finance Debt Management Division 21 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan DEBT POLICIES Regular, updated debt policies can be an important tool to ensure the use of the County’s resources to meet its financial commitments to provide needed services to the citizens of Maricopa County and to maintain sound financial practices. Administration of Policy The County Manager is the Chief Executive of the County. With the exception of those responsibilities specifically assigned by state statute to the Chief Financial Officer, the County Manager is ultimately responsible for the approval of any form of County borrowing. The Chief Financial Officer coordinates the administration and issuance of debt, as designated by the County Manager. The Chief Financial Officer is also responsible for attestation of disclosure and other bond related documents. References to the “County Manager or his designee” in bond documents are hereinafter assumed to assign the Chief Financial Officer as the “designee” for administration of this policy. Use of Debt Financing Debt financing includes General Obligation Bonds, Revenue Bonds, Certificates of Participation, Lease/Purchase agreements, and other obligations permitted to be issued or incurred under Arizona law. Method of Sale Debt issues of the County may be sold by competitive, negotiated, or private placement sale methods unless otherwise limited by state law. The selected method of sale will be the option which is expected to result in the lowest cost and most favorable terms given the financial structure used, market conditions, and prior experience. Competitive Sale The County will use the competitive sale method unless there are compelling reasons which indicate that a negotiated sale or private placement would have a more favorable result due to prevailing conditions in the market, a financing structure which requires special pre-marketing efforts, or factors are present that are expected to result in an insufficient number or competitive bids. Advantages of using a competitive sale is that the issuer is getting the lowest net interest cost on that day time and all parties are given an equal opportunity, but timing is very inflexible. Negotiated Sale When determined appropriate, the County may elect to sell its debt obligations through a negotiated sale. Such determination may be made on an issue by issue basis, for a series of issues, or for part or all of a specific financing program. Negotiated underwriting may be considered upon recommendation of the Chief Financial Officer. Advantages of a negotiated sale is that timing is extremely flexible, the size of the issue 22 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan can be easily changed at last minute and the issuer has influence over the underwriter selection and bond distribution. Use of Bond Insurance This is an insurance policy purchased by an issuer or an underwriter for either an entire issue or specific maturities. It will guarantee the payment of principal and interest, which in turn provides a higher credit rating and thus a lower borrowing cost for an issuer. The present value of the estimated debt service savings from insurance should be at least equal to or greater than the insurance premium when insurance is purchased directly by the County. The bond insurance company will usually be chosen based on an estimate of the greatest net present value insurance benefit (present value of debt service savings less insurance premium). Arbitrage Liability Management Arbitrage is defined as the practice of simultaneously buying and selling an item in different markets in order to profit from a spread in prices or yields resulting from market conditions. Arbitrage profits are made by selling tax-exempt bonds and investing the proceeds in higheryielding taxable securities, when referencing municipal bonds. Municipal issuers are allowed to make arbitrage profits under certain restricted conditions. The sale of tax-exempt bonds primarily for the purpose for making arbitrage profits is prohibited by Section 103(c) of the Internal Revenue Code. The Debt Management Division of the Department of Finance shall establish a system of record keeping and reporting to meet the arbitrage rebate compliance requirements of the federal tax code. This will include tracking investment earnings on bond proceeds, using outside experts to assist in calculating rebate payments, preparing returns, and making payments in a timely manner in order to preserve the tax exempt status of the County’s outstanding debt issues. Additionally, general financial reporting and certification requirements embodied in bond covenants will be monitored to ensure that all covenants are met. The County will structure its financing in such a way as to reduce or eliminate future Arbitrage Rebate liability, wherever feasible. Selection of Professional Services The Chief Financial Officer shall be responsible for establishing a solicitation and selection process for securing professional services that are required to develop and implement the County’s debt program. Goals of the solicitation and selection process shall include encouraging participation from qualified service providers, both local and national, and securing services at competitive prices. Bond Counsel – To render opinions on the validity, enforceability and tax exempt status of the debt and related legal matters, and to prepare the necessary resolutions, agreements and other documents. 23 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan Financial Advisor – To advise on the structuring of obligations to be issued, inform the County of various options, advise the County as to how choices will impact the marketability of County obligations and provide other services as defined by contract. To ensure independence, the financial advisor will not bid on nor underwrite any County debt issues. Competitive proposals will be taken periodically for services to be provided over a period of one year with annual renewal options. Other professional services will be retained, when required, including managing underwriters, credit agencies, escrow agents, trustees, printers, and others. These services will be procured when in the best interest of the County by a competitive selection process. Continuing Disclosure of County Financial Information Annual financial statements and other pertinent credit information, including the Comprehensive Annual Financial Report (CAFR), will be provided by the County upon request. A copy of the CAFR can be viewed from the Maricopa County home page at: http://www.maricopa.gov/finance/. All material that has a pertinent bearing on County finances will be provided to the agencies that maintain a rating on County securities. The Chief Financial Officer shall be responsible for providing ongoing disclosure information to established national information repositories and for maintaining compliance with disclosure standards dictated by state and national regulatory bodies. Copies of official statements for future issuance’s of its bonds will be available through the following recognized municipal repositories: Bloomberg Municipal Repository 100 Business Park Drive Skillman, NJ 08558 Phone: (609) 279-3225 Fax: (609) 279-5962 DPC Data Inc. One Executive Drive Fort Lee, NJ 07024 Phone: (201) 346-0701 Fax: (201) 947-0107 http://www.bloomberg.com/markets/rates/municontracts.html http://www.MuniFILINGS.com Email: Munis@Bloomberg.com Email: nrmsir@dpcdata.com FT Interactive Data Attn: NRMSIR 100 Williams Street, 15th Floor New York, NY 10038 Phone (212) 771-6999; (800) 689-8466 Fax: (212) 771-7390 Standard & Poor’s Security Evaluations, Inc. 55 Water Street – 45th Floor New York, NY 10041 Phone: (212) 438-4595 Fax: (212) 438-3975 http://www.interactivedata-prd.com http://www.disclosuredirectory.standardandpoors.com/ Email: NRMSIR@Interactivedata.com Email: nrmsir_repository@sandp.com The Securities and Exchange Commission released final “continuing disclosure” rules (the “Rules”) for municipal bond issues on November 10, 1994, (amended existing Rule 15c2-12). The Rules, which in general were effective on July 3, 1995, impact nearly every issuer of municipal securities. The stated purpose of the Rules is to deter fraud and manipulation in the municipal securities market by prohibiting the underwriting and subsequent recommendation of securities for which adequate information is not available. No underwriter can purchase or sell 24 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan bonds in an offering of more than $1,000,000 after July 3, 1995, unless it has reasonably determined that an issuer has undertaken to provide to the public information repositories on a continuing basis both annual financial information and notices of specified material events affecting the issuer or its securities. This is applicable unless an exemption applies. The County intends to fully comply with the “continuing disclosure” rules. Maturity Structures Principal payment schedules should not extend beyond the economic life of the project or equipment financed. The structure of debt issued by the County should be to provide for either level principal or level debt service. Except in select instances, deferring the repayment of principal should be avoided. Ratings The County’s goal is to maintain or improve its bond ratings. To that end, prudent financial management policies will be adhered to in all areas. The Chief Financial Officer shall be responsible for maintaining relationships with the rating agencies that currently assign ratings to the County’s various debt obligations. The County will maintain a line of communication with the rating agencies informing them of major financial events in the County as they occur. Full disclosure of operations will be made to the bond rating agencies. County staff, with the assistance of the financial advisor and bond counsel, will prepare the necessary materials for presentation to the rating agencies. A personal meeting with representatives of the rating agencies will be scheduled every few years or whenever a major project is initiated. Modification to Policies These policies will be reviewed annually and significant changes may be made with the approval of the County Manager. Significant policy changes will be presented to the Board of Supervisors for approval. 25 Maricopa County, Arizona Department of Finance Debt Management Division INDIVIDUAL DEBT SERVICE SCHEDULES 26 Maricopa County, Arizona Department of Finance Debt Management Division 27 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan INDIVIDUAL DEBT SERVICE SCHEDULES LEASE REVENUE BONDS LEASE TRUST CERTIFICATES STADIUM DISTRICT CERTIFICATES OF PARTICIPATION SPECIAL ASSESSMENT CAPITAL LEASES INSTALLMENT PURCHASE CONTRACTS PAYABLE 28 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan MARICOPA COUNTY, ARIZONA TOTAL LEASE REVENUE BONDS LEASE REVENUE BONDS REDEMPTION SCHEDULE DAT E 7/1/2007 1/1/2008 PRI NCIPAL $ 7,605,000.00 - INT EREST $ 964,343.13 4,582,409.63 PERIOD T OTAL $ 8,569,343.13 4,582,409.63 F ISCAL T OT AL $ 13,151,752.76 7/1/2008 1/1/2009 9,770,000.00 - 3,926,320.63 3,700,148.75 13,696,320.63 3,700,148.75 17,396,469.38 7/1/2009 1/1/2010 10,615,000.00 - 3,700,148.75 3,447,930.00 14,315,148.75 3,447,930.00 17,763,078.75 7/1/2010 1/1/2011 11,145,000.00 - 3,447,930.00 3,182,665.00 14,592,930.00 3,182,665.00 17,775,595.00 7/1/2011 1/1/2012 10,585,000.00 - 3,182,665.00 2,921,125.00 13,767,665.00 2,921,125.00 16,688,790.00 7/1/2012 1/1/2013 11,205,000.00 - 2,921,125.00 2,680,915.00 14,126,125.00 2,680,915.00 16,807,040.00 7/1/2013 1/1/2014 11,375,000.00 - 2,680,915.00 2,437,590.00 14,055,915.00 2,437,590.00 16,493,505.00 7/1/2014 1/1/2015 11,840,000.00 - 2,437,590.00 2,141,590.00 14,277,590.00 2,141,590.00 16,419,180.00 7/1/2015 1/1/2016 12,470,000.00 - 2,141,590.00 1,874,740.00 14,611,590.00 1,874,740.00 16,486,330.00 7/1/2016 3,660,000.00 1,874,740.00 5,534,740.00 1/1/2017 7/1/2017 3,845,000.00 1,783,240.00 1,783,240.00 1,783,240.00 5,628,240.00 7,317,980.00 - 1/1/2018 7/1/2018 4,040,000.00 1,687,115.00 1,687,115.00 1,687,115.00 5,727,115.00 7,315,355.00 - 1/1/2019 7/1/2019 4,240,000.00 1,586,115.00 1,586,115.00 1,586,115.00 5,826,115.00 7,313,230.00 - 1/1/2020 7/1/2020 4,410,000.00 1,501,315.00 1,501,315.00 1,501,315.00 5,911,315.00 7,327,430.00 - 1/1/2021 7/1/2021 4,630,000.00 1,391,065.00 1,391,065.00 1,391,065.00 6,021,065.00 7,302,380.00 - 1/1/2022 7/1/2022 4,820,000.00 1,296,150.00 1,296,150.00 1,296,150.00 6,116,150.00 7,317,215.00 - 1/1/2023 7/1/2023 5,060,000.00 1,175,650.00 1,175,650.00 1,175,650.00 6,235,650.00 7,291,800.00 - 1/1/2024 7/1/2024 5,315,000.00 1,049,150.00 1,049,150.00 1,049,150.00 6,364,150.00 7,284,800.00 - 1/1/2025 7/1/2025 5,580,000.00 916,275.00 916,275.00 916,275.00 6,496,275.00 7,280,425.00 - 1/1/2026 7/1/2026 5,830,000.00 790,725.00 790,725.00 790,725.00 6,620,725.00 7,287,000.00 - 1/1/2027 7/1/2027 6,090,000.00 659,550.00 659,550.00 659,550.00 6,749,550.00 7,280,275.00 - 1/1/2028 7/1/2028 6,380,000.00 514,912.50 514,912.50 514,912.50 6,894,912.50 7,264,462.50 - 1/1/2029 7/1/2029 6,685,000.00 363,387.50 363,387.50 363,387.50 7,048,387.50 7,258,300.00 - 1/1/2030 7/1/2030 6,920,000.00 246,400.00 246,400.00 246,400.00 7,166,400.00 7,294,787.50 - 1/1/2031 7/1/2031 7,160,000.00 125,300.00 125,300.00 125,300.00 7,285,300.00 7,291,700.00 - 1/1/2032 $ 181,275,000.00 $ 84,419,180.89 29 $ 265,694,180.89 - $ 7,285,300.00 265,694,180.89 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $124,844,000 MARICOPA COUNTY, ARIZONA LEASE REVENUE BONDS, SERIES 2001 LEASE REVENUE BONDS REDEMPTION SCHEDULE DAT E 7/1/2007 1/1/2008 PRI NCIPAL $ 5,860,000.00 - INT EREST $ 857,993.13 733,993.13 PERIOD T OTAL $ 6,717,993.13 733,993.13 F ISCAL T OT AL $ 7,451,986.26 7/1/2008 1/1/2009 6,105,000.00 - 733,993.13 573,221.25 6,838,993.13 573,221.25 7,412,214.38 7/1/2009 1/1/2010 6,435,000.00 - 573,221.25 398,977.50 7,008,221.25 398,977.50 7,407,198.75 7/1/2010 1/1/2011 6,810,000.00 - 398,977.50 212,662.50 7,208,977.50 212,662.50 7,421,640.00 7/1/2011 1/1/2012 7,190,000.00 - 212,662.50 16,835.00 7,402,662.50 16,835.00 7,419,497.50 7/1/2012 1/1/2013 740,000.00 33,140,000.00 16,835.00 4,729,371.89 756,835.00 37,869,371.89 756,835.00 37,869,371.89 $ $ 30 $ $ Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $16,880,000 MARICOPA COUNTY, ARIZONA LEASE REVENUE REFUNDING BONDS, SERIES 2003 LEASE REVENUE REFUNDING BONDS REDEMPTION SCHEDULE DAT E 7/1/2007 1/1/2008 PRI NCIPAL $ 1,745,000.00 INT EREST $ 106,350.00 84,537.50 PERIOD T OTAL $ 1,851,350.00 84,537.50 F ISCAL T OT AL $ 1,935,887.50 7/1/2008 1/1/2009 1,580,000.00 - 84,537.50 60,837.50 1,664,537.50 60,837.50 1,725,375.00 7/1/2009 1/1/2010 1,500,000.00 - 60,837.50 36,462.50 1,560,837.50 36,462.50 1,597,300.00 7/1/2010 1/1/2011 1,550,000.00 - 36,462.50 13,212.50 1,586,462.50 13,212.50 1,599,675.00 7/1/2011 1/1/2012 500,000.00 - 13,212.50 5,400.00 513,212.50 5,400.00 518,612.50 7/1/2012 1/1/2013 320,000.00 5,400.00 325,400.00 $ 7,195,000.00 $ 507,250.00 31 $ 7,702,250.00 $ 325,400.00 7,702,250.00 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $108,100,000 MARICOPA COUNTY, ARIZONA LEASE REVENUE BONDS, SERIES 2007A LEASE REVENUE BONDS REDEMPTION SCHEDULE DATE 1/1/2008 7/1/2008 PRI NCIPAL $ INTEREST 2,085,000.00 $ 2,916,827.89 2,408,390.00 PERIOD TOTAL $ 2,916,827.89 4,493,390.00 F ISCAL T OTAL $ 2,916,827.89 - 1/1/2009 7/1/2009 2,680,000.00 2,366,690.00 2,366,690.00 2,366,690.00 5,046,690.00 6,860,080.00 - 1/1/2010 7/1/2010 2,785,000.00 2,313,090.00 2,313,090.00 2,313,090.00 5,098,090.00 7,359,780.00 - 1/1/2011 7/1/2011 2,895,000.00 2,257,390.00 2,257,390.00 2,257,390.00 5,152,390.00 7,355,480.00 - 1/1/2012 7/1/2012 3,015,000.00 2,199,490.00 2,199,490.00 2,199,490.00 5,214,490.00 7,351,880.00 - 1/1/2013 7/1/2013 3,165,000.00 2,124,115.00 2,124,115.00 2,124,115.00 5,289,115.00 7,338,605.00 - 1/1/2014 7/1/2014 3,320,000.00 2,044,990.00 2,044,990.00 2,044,990.00 5,364,990.00 7,334,105.00 - 1/1/2015 7/1/2015 3,490,000.00 1,961,990.00 1,961,990.00 1,961,990.00 5,451,990.00 7,326,980.00 - 1/1/2016 7/1/2016 3,660,000.00 1,874,740.00 1,874,740.00 1,874,740.00 5,534,740.00 7,326,730.00 - 1/1/2017 1,783,240.00 1,783,240.00 7,317,980.00 7/1/2017 1/1/2018 3,845,000.00 - - 1,783,240.00 1,687,115.00 5,628,240.00 1,687,115.00 7,315,355.00 7/1/2018 1/1/2019 4,040,000.00 - 1,687,115.00 1,586,115.00 5,727,115.00 1,586,115.00 7,313,230.00 7/1/2019 1/1/2020 4,240,000.00 - 1,586,115.00 1,501,315.00 5,826,115.00 1,501,315.00 7,327,430.00 7/1/2020 1/1/2021 4,410,000.00 - 1,501,315.00 1,391,065.00 5,911,315.00 1,391,065.00 7,302,380.00 7/1/2021 1/1/2022 4,630,000.00 - 1,391,065.00 1,296,150.00 6,021,065.00 1,296,150.00 7,317,215.00 7/1/2022 1/1/2023 4,820,000.00 - 1,296,150.00 1,175,650.00 6,116,150.00 1,175,650.00 7,291,800.00 7/1/2023 1/1/2024 5,060,000.00 - 1,175,650.00 1,049,150.00 6,235,650.00 1,049,150.00 7,284,800.00 7/1/2024 1/1/2025 5,315,000.00 - 1,049,150.00 916,275.00 6,364,150.00 916,275.00 7,280,425.00 7/1/2025 1/1/2026 5,580,000.00 - 916,275.00 790,725.00 6,496,275.00 790,725.00 7,287,000.00 7/1/2026 1/1/2027 5,830,000.00 - 790,725.00 659,550.00 6,620,725.00 659,550.00 7,280,275.00 7/1/2027 1/1/2028 6,090,000.00 - 659,550.00 514,912.50 6,749,550.00 514,912.50 7,264,462.50 7/1/2028 1/1/2029 6,380,000.00 - 514,912.50 363,387.50 6,894,912.50 363,387.50 7,258,300.00 7/1/2029 1/1/2030 6,685,000.00 - 363,387.50 246,400.00 7,048,387.50 246,400.00 7,294,787.50 7/1/2030 1/1/2031 6,920,000.00 - 246,400.00 125,300.00 7,166,400.00 125,300.00 7,291,700.00 7/1/2031 1/1/2032 7,160,000.00 125,300.00 69,782,907.89 7,285,300.00 177,882,907.89 7,285,300.00 177,882,907.89 $ 108,100,000.00 $ 32 $ $ Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $32,840,000 MARICOPA COUNTY, ARIZONA LEASE REVENUE REFUNDING BONDS, SERIES 2007B LEASE REVENUE REFUNDING BONDS REDEMPTION SCHEDULE DAT E 1/1/2008 7/1/2008 PRI NCIPAL $ INT EREST - $ 847,051.11 699,400.00 PERIOD T OTAL $ 847,051.11 699,400.00 F ISCAL T OT AL $ 847,051.11 - 1/1/2009 7/1/2009 - 699,400.00 699,400.00 699,400.00 699,400.00 1,398,800.00 - 1/1/2010 7/1/2010 - 699,400.00 699,400.00 699,400.00 699,400.00 1,398,800.00 - 1/1/2011 7/1/2011 - 699,400.00 699,400.00 699,400.00 699,400.00 1,398,800.00 - 1/1/2012 7/1/2012 7,130,000.00 699,400.00 699,400.00 699,400.00 7,829,400.00 1,398,800.00 - 1/1/2013 7/1/2013 8,210,000.00 556,800.00 556,800.00 556,800.00 8,766,800.00 8,386,200.00 - 1/1/2014 7/1/2014 8,520,000.00 392,600.00 392,600.00 392,600.00 8,912,600.00 9,159,400.00 - 1/1/2015 7/1/2015 8,980,000.00 179,600.00 179,600.00 179,600.00 9,159,600.00 9,092,200.00 1/1/2016 $ 32,840,000.00 $ 9,399,651.11 33 $ 42,239,651.11 $ 9,159,600.00 42,239,651.11 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $15,000,000 MARICOPA COUNTY, ARIZONA LEASE TRUST CERTIFICATES, SERIES 2004 LEASE PURCHASE AGREEMENT REDEMPTION SCHEDULE DATE 7/1/2007 1/1/2008 PRI NCIPAL $ 1,600,000.00 - INT EREST $ 141,856.51 108,537.31 PERIOD TOTAL $ 1,741,856.51 108,537.31 F ISCAL T OTAL $ 1,850,393.82 7/1/2008 1/1/2009 1,617,000.00 - 108,537.31 74,864.09 1,725,537.31 74,864.09 1,800,401.40 7/1/2009 1/1/2010 1,700,000.00 - 74,864.09 39,462.43 1,774,864.09 39,462.43 1,814,326.52 7/1/2010 1/1/2011 1,800,000.00 - 39,462.43 1,978.33 1,839,462.43 1,978.33 1,841,440.76 7/1/2011 $ 95,000.00 6,812,000.00 $ 1,978.33 591,540.83 $ 96,978.33 7,403,540.83 $ 96,978.33 7,403,540.83 * Maricop a County h as accelerated som e of the rem aining p rin cipal balance during FY2006-07. 34 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $58,225,000 MARICOPA COUNTY, ARIZONA CALCULATED TOTAL OF ALL STADIUM DISTRICT BOND REDEMPTION SCHEDULE DATE 12/1/2007 PRINCIPAL $ 6/1/2008 INTEREST - $ 2,960,000.00 12/1/2008 3,105,000.00 12/1/2009 - 6/1/2010 3,260,000.00 12/1/2010 - 6/1/2011 3,390,000.00 12/1/2011 - 6/1/2012 3,570,000.00 12/1/2012 - 6/1/2013 3,760,000.00 12/1/2013 - 6/1/2014 3,960,000.00 12/1/2014 - 6/1/2015 4,170,000.00 12/1/2015 - 6/1/2016 4,395,000.00 12/1/2016 - 6/1/2017 4,635,000.00 12/1/2017 - 6/1/2018 4,880,000.00 12/1/2018 - 6/1/2019 $ 5,145,000.00 47,230,000.00 PERIOD TOTAL $ 1,231,171.88 - 6/1/2009 1,231,171.88 $ 1,231,171.88 4,191,171.88 1,157,171.88 1,157,171.88 1,157,171.88 4,262,171.88 1,079,546.88 1,079,546.88 1,079,546.88 4,339,546.88 1,014,346.88 1,014,346.88 1,014,346.88 4,404,346.88 925,359.38 925,359.38 925,359.38 4,495,359.38 831,646.88 831,646.88 831,646.88 4,591,646.88 730,596.88 730,596.88 730,596.88 4,690,596.88 624,171.88 624,171.88 624,171.88 4,794,171.88 512,103.13 512,103.13 512,103.13 4,907,103.13 393,987.51 393,987.51 393,987.51 5,028,987.51 269,421.88 269,421.88 269,421.88 5,149,421.88 138,271.88 138,271.88 138,271.88 17,815,593.88 5,283,271.88 65,045,593.88 35 FISC AL TOTAL $ $ 5, 422,343.76 5, 419,343.76 5, 419,093.76 5, 418,693.76 5, 420,718.76 5, 423,293.76 5, 421,193.76 5, 418,343.76 5, 419,206.26 5, 422,975.02 5, 418,843.76 - $ 5, 421,543.76 65, 045,593.88 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $6,975,000 MARICOPA COUNTY, ARIZONA CERTIFICATES OF PARTICIPATION, SERIES 2000 CERTIFICATES OF PARTICIPATION REDEMPTION SCHEDULES Date 7/1/2007 1/1/2008 Princip al $ 420,000.00 - In terest $ Perio d T ot al 121,721.25 111,536.25 $ 541,721.25 111,536.25 Fiscal T otal $ 653,257.50 7/1/2008 1/1/2009 445,000.00 - 111,536.25 100,633.75 556,536.25 100,633.75 657,170.00 7/1/2009 1/1/2010 465,000.00 - 100,633.75 89,125.00 565,633.75 89,125.00 654,758.75 7/1/2010 1/1/2011 490,000.00 - 89,125.00 76,875.00 579,125.00 76,875.00 656,000.00 7/1/2011 1/1/2012 520,000.00 - 76,875.00 63,615.00 596,875.00 63,615.00 660,490.00 7/1/2012 1/1/2013 545,000.00 - 63,615.00 49,445.00 608,615.00 49,445.00 658,060.00 7/1/2013 1/1/2014 575,000.00 - 49,445.00 34,207.50 624,445.00 34,207.50 658,652.50 7/1/2014 1/1/2015 610,000.00 - 34,207.50 17,737.50 644,207.50 17,737.50 661,945.00 7/1/2015 1/1/2016 645,000.00 - 17,737.50 - 662,737.50 - 662,737.50 $ 4,715,000.00 $ 1,208,071.25 36 $ 5,923,071.25 $ 5, 923,071.25 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan MARICOPA COUNTY, ARIZONA CALCULATED TOTAL OF ALL SPECIAL ASSESSMENT BOND REDEMPTION SCHEDULES DATE 7/1/2007 PRINC IPAL $ 3,039.65 IN TEREST $ PERIOD TOTAL 3,928. 41 $ 10,912.30 FISCAL TOTAL $ - 1/1/2008 7/1/2008 11,970.11 7,322.36 3,853. 43 3,344. 80 19,080.19 13,199.57 29,992.49 - 1/1/2009 7/1/2009 23,154.33 3,039.65 3,077. 10 1,992. 21 28,792.32 13,230.25 41,991.90 - 1/1/2010 7/1/2010 2,335.70 3,039.65 1,917. 24 1,823. 81 8,561.14 12,613.85 21,791.39 - 1/1/2011 7/1/2011 6,005.86 7,322.35 1,748. 83 1,508. 60 7,944.74 11,997.45 20,558.59 - 1/1/2012 7/1/2012 6,005.86 3,039.65 1,160. 60 920. 37 7,328.34 6,312.83 19,325.79 - 1/1/2013 7/1/2013 6,005.86 2,789.60 845. 39 605. 15 6,960.61 3,947.46 13,273.44 - 1/1/2014 7/1/2014 6,005.92 3,039.65 536. 27 296. 03 6,641.63 4,627.24 10,589.09 - 1/1/2015 7/1/2015 3,039.65 221. 06 221. 06 292.32 4,524.09 4,919.57 - 1/1/2016 7/1/2016 2,882.75 146. 08 146. 08 189.17 3,718.55 4,713.27 - 1/1/2017 7/1/2017 3,037.51 74. 93 74. 93 103.15 4,334.75 3,821.70 1/1/2018 $ 103,076.11 $ 28,442. 38 37 $ 175,311.97 $ 4,334.75 175,311.97 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $301,960 MARICOPA COUNTY, ARIZONA Queen Creek Water K-91 BOND REDEMPTION SCHEDULE 4.875% DATE 07/01/07 01/01/08 $ PRINCIPAL 3,039.65 07/01/08 01/01/09 07/01/09 01/01/10 07/01/10 01/01/11 3,039.65 07/01/11 01/01/12 07/01/12 01/01/13 07/01/13 01/01/14 3,039.65 07/01/14 01/01/15 07/01/15 01/01/16 07/01/16 01/01/17 3,039.65 07/01/17 01/01/18 3,037.51 33,027.06 $ 3,039.65 3,039.65 3,039.65 2,789.60 3,039.65 2,882.75 $ $ INTEREST 805.03 730.94 $ PERIOD TOTAL 3,890.78 739.80 $ FISCAL TOTAL 4,630.59 730.94 656.85 656.85 582.76 582.76 508.67 3,815.80 664.83 3,740.83 589.85 3,665.85 514.87 4,480.63 4,330.68 4,180.72 508.67 434.58 434.58 360.49 360.49 292.49 3,590.87 439.89 3,515.89 364.92 3,190.87 296.03 4,030.77 3,880.81 3,486.90 292.49 218.40 218.40 144.31 144.31 74.04 3,372.03 221.06 3,297.06 146.08 3,065.18 74.93 3,593.09 3,443.14 3,140.11 74.04 8,812.07 3,148.84 42,346.27 3,148.84 42,346.27 38 $ $ Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $301,905 MARICOPA COUNTY, ARIZONA Central Avenue K-96 SPECIAL ASSESSMENT BOND REDEMPTION SCHEDULE 9.00% DATE 07/01/ 07 01/01/ 08 07/01/ 08 01/01/ 09 $ $ PRINCIPAL 4,915.57 17,148.47 22,064.04 $ $ INTEREST 992.88 992.88 771.68 771.68 3,529.13 39 PERIOD TOTAL 992.88 5,908.45 771.68 17,920.15 $ 25,593.17 $ FISCAL TOTAL 6,901.33 18,691.83 $ 25,593.17 $ Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $14,004 MARICOPA COUNTY, ARIZONA Billings Street K-98 SPECIAL ASSESSMENT BOND REDEMPTION SCHEDULE 9.00% DATE 07/01/ 07 01/01/ 08 PRINCIPAL $ $ 1, 048.68 1, 048.68 $ $ I NTEREST 47.19 47.19 94.38 40 PERIOD TOTAL 47.19 1,095.87 $ 1,143.06 $ FISCAL TOTAL 1,143.06 $ 1,143.06 $ Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $60,670 MARICOPA COUNTY, ARIZONA Marquerite Drive K100 SPECIAL ASSESSMENT BOND REDEMPTION SCHEDULE 9.000% DATE 07/01/ 07 01/01/ 08 $ PRINCIPAL - 07/01/ 08 01/01/ 09 07/01/ 09 01/01/ 10 07/01/ 10 01/01/ 11 4,282.71 07/01/ 11 01/01/ 12 4,282.70 8,565.41 $ - $ $ INTEREST 385.44 385.44 $ PERIOD TOTAL 385.44 385.44 $ FISCAL TOTAL 770.89 385.44 192.72 192.72 192.72 192.72 192.72 4,668.15 192.72 192.72 192.72 192.72 192.72 4,860.87 385.44 385.44 192.72 2,312.66 4,475.42 10,878.07 4,475.42 10,878.07 41 $ $ Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $60,059 MARICOPA COUNTY, ARIZONA 7th Street North Improvement K106 BOND REDEMPTION SCHEDULE 9.000% DATE 07/01/ 07 01/01/ 08 07/01/ 08 01/01/ 09 07/01/ 09 01/01/ 10 07/01/ 10 01/01/ 11 07/01/ 11 01/01/ 12 07/01/ 12 01/01/ 13 07/01/ 13 01/01/ 14 $ PRINCIPAL 6,005.86 $ 6,005.86 2,335.70 6,005.86 6,005.86 6,005.86 $ 6,005.92 38,370.92 $ INTEREST 1,534.84 1,534.84 1,294.60 1,294.60 1,054.37 1,054.37 960.94 960.94 720.71 720.71 480.47 480.47 240.24 240.24 12,572.32 42 PERIOD TOTAL 1,534.84 7,540.70 1,294.60 7,300.46 1,054.37 3,390.07 960.94 6,966.80 720.71 6,726.57 480.47 6,486.33 240.24 6,246.16 $ 50,943.24 $ FISCAL TOTAL 9,075.53 8,595.06 4,444.44 7,927.74 7,447.27 6,966.80 6,486.39 $ 50,943.24 $ Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan MARICOPA COUNTY, ARIZONA CALCULATED TOTAL OF ALL CAPITAL LEASES Principal and Interest GOVERNMENTAL ACTIVIES Department: Trial Courts Library Sheriff Sheriff Voter Various Dept Total Governmental Purpose: Security Equipment Telecom Equipment Radio Equipment Taser Equipment Equipment Computer Equipment Activites FY 07-08 $ 27,195.12 $ 284,191.80 $ 1,066,988.88 $ 586,327.32 $ 1,357,710.36 $ 9,981,221.40 $ 13,303,634.88 FY 08-09 27,195.12 118,413.25 1,066,988.88 586,327.32 1,357,710.36 7,283,906.46 10,440,541.39 FY 09-10 18,131.31 1,066,988.88 390,884.98 1,357,710.36 5,131,255.11 7,964,970.64 FY 10-11 1,066,988.88 1,357,710.36 2,424,699.24 FY 11-12 515,820.58 339,427.67 855,248.25 $ 72,521.55 $ 402,605.05 $ 4,783,776.10 $ 1,563,539.62 $ 5,770,269.11 $ 22,396,382.97 $ 34,989,094.40 Total Principal Total Interest 43 $ $ 32,984,631.73 2,004,462.67 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Maricopa County Trial Courts Trial Courts Security Equipment PERIO DIC PAYMENT Calculated payment: LOAN DATA $123,600.00 3.82000% 5 12 7/23/2005 Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 29 7/23/2007 30 8/23/2007 31 9/23/2007 32 10/23/2007 33 11/23/2007 34 12/23/2007 35 1/23/2008 36 2/23/2008 37 3/23/2008 38 4/23/2008 39 5/23/2008 40 6/23/2008 41 7/23/2008 42 8/23/2008 43 9/23/2008 44 10/23/2008 45 11/23/2008 46 12/23/2008 47 1/23/2009 48 2/23/2009 49 3/23/2009 50 4/23/2009 51 5/23/2009 52 6/23/2009 53 7/23/2009 54 8/23/2009 55 9/23/2009 56 10/23/2009 57 11/23/2009 58 12/23/2009 59 1/23/2010 60 2/23/2010 Outstanding as of June 30, 2007 Principal Total Interest Payment Total Debt Service Payable Beginning Balance $ 68,844.65 66,797.55 64,743.93 62,683.77 60,617.05 58,543.75 56,463.85 54,377.33 52,284.23 50,184.47 48,078.02 45,964.87 43,844.99 41,718.36 39,584.96 37,444.77 35,297.77 33,143.93 30,983.24 28,815.67 26,641.20 24,459.81 22,271.47 20,076.17 17,873.88 15,664.58 13,448.25 11,224.86 8,994.39 6,756.82 4,512.13 2,260.29 $ $ Interest 219.16 212.64 206.10 199.54 192.96 186.36 179.74 173.10 166.44 159.75 153.05 146.32 139.57 132.80 126.01 119.20 112.36 105.51 98.63 91.73 84.81 77.86 70.90 63.91 56.90 49.87 42.81 35.73 28.63 21.51 14.36 7.20 $ 3,675.46 $ Principal 2,047.10 2,053.62 2,060.16 2,066.72 2,073.30 2,079.90 2,086.52 2,093.16 2,099.82 2,106.51 2,113.21 2,119.94 2,126.69 2,133.46 2,140.25 2,147.06 2,153.90 2,160.75 2,167.63 2,174.53 2,181.45 2,188.40 2,195.36 2,202.35 2,209.36 2,216.39 2,223.45 2,230.53 2,237.63 2,244.75 2,251.90 2,260.29 $ 68,846.09 $ $ $2,266.26 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 66,797.55 $ 8,919.09 64,743.93 9,131.73 62,683.77 9,337.83 60,617.05 9,537.37 58,543.75 9,730.33 56,463.85 9,916.69 54,377.33 10,096.43 52,284.23 10,269.53 50,184.47 10,435.97 48,078.02 10,595.72 45,964.87 10,748.77 43,844.99 10,895.09 $ 24,999.96 $ 2,195.16 $ 27,195.12 41,718.36 11,034.66 39,584.96 11,167.46 37,444.77 11,293.47 35,297.77 11,412.67 33,143.93 11,525.03 30,983.24 11,630.54 28,815.67 11,729.17 26,641.20 11,820.90 24,459.81 11,905.71 22,271.47 11,983.57 20,076.17 12,054.47 17,873.88 12,118.38 $ 25,971.83 $ 1,223.29 $ 27,195.12 15,664.58 12,175.28 13,448.25 12,225.15 11,224.86 12,267.96 8,994.39 12,303.69 6,756.82 12,332.32 4,512.13 12,353.83 2,260.29 12,368.19 (0.00) 12,375.39 $ 17,874.30 $ 257.01 $ 18,131.31 68,846.09 3,675.46 72,521.55 44 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Maricopa County Library District Library Equipment Library Telecom Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 20 7/30/2007 $ 392,374.56 21 8/30/2007 369,819.99 22 9/30/2007 347,200.58 23 10/30/2007 324,516.14 24 11/30/2007 301,766.49 25 12/30/2007 278,951.42 26 1/30/2008 256,070.76 27 2/29/2008 233,124.32 28 3/30/2008 210,111.91 29 4/30/2008 187,033.34 30 5/30/2008 163,888.41 31 6/30/2008 140,676.94 32 7/30/2008 117,398.74 33 8/30/2008 94,053.62 34 9/30/2008 70,641.37 35 10/30/2008 47,161.82 36 11/30/2008 23,614.76 Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ PERIODIC PAYMENT Calculated payment: $808,834.80 3.45000% 3 12 12/30/2005 $23,682.65 Fiscal Year Ended 6/30 Interest 1,128.08 1,063.24 998.21 933.00 867.58 801.99 736.21 670.24 604.08 537.72 471.18 404.45 337.53 270.40 203.10 135.59 67.89 $ 10,230.49 $ Principal 22,554.57 $ 22,619.41 22,684.44 22,749.65 22,815.07 22,880.66 22,946.44 23,012.41 23,078.57 23,144.93 23,211.47 23,278.20 23,345.12 23,412.25 23,479.55 23,547.06 23,614.76 $ 392,374.56 $ Ending Balance 369,819.99 347,200.58 324,516.14 301,766.49 278,951.42 256,070.76 233,124.32 210,111.91 187,033.34 163,888.41 140,676.94 117,398.74 94,053.62 70,641.37 47,161.82 23,614.76 0.00 Cumulative Interest $ 34,638.19 35,701.43 36,699.64 37,632.64 38,500.22 39,302.21 40,038.42 40,708.66 41,312.74 41,850.46 42,321.64 42,726.09 43,063.62 43,334.02 43,537.12 43,672.71 43,740.60 Principal Interest Total $ 274,975.82 $ 9,215.98 $ 284,191.80 $ 117,398.74 $ 1,014.51 $ 118,413.25 392,374.56 10,230.49 402,605.05 45 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#12 Computer Equipment PERIODIC PAYMENT Calculated payment: LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: $1,081,954.15 2.48000% 3 12 11/15/2004 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 33 7/15/2007 $ 124,229.22 34 8/15/2007 93,268.10 35 9/15/2007 62,242.95 36 10/15/2007 31,153.63 Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ Interest 256.93 192.89 128.73 64.43 $ 642.98 $ Principal 30,961.12 $ 31,025.15 31,089.32 31,153.62 $ 124,229.21 $ $31,218.05 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 93,268.10 $ 41,508.56 62,242.95 41,701.45 31,153.63 41,830.18 (0.00) 41,894.61 $ 124,229.21 $ 642.98 $ 124,872.19 124,229.21 642.98 124,872.19 46 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#13 Computer Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: PERIODIC PAYMENT Calculated payment: $1,162,300.76 2.99490% 3 12 3/7/2005 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 29 7/7/2007 $ 267,376.37 30 8/7/2007 234,245.17 31 9/7/2007 201,031.29 32 10/7/2007 167,734.51 33 11/7/2007 134,354.63 34 12/7/2007 100,891.45 35 1/7/2008 67,344.75 36 2/7/2008 33,714.33 Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ Interest 667.30 584.62 501.72 418.62 335.32 251.80 168.08 84.14 $ 3,011.60 $ Principal 33,131.20 $ 33,213.88 33,296.78 33,379.88 33,463.18 33,546.70 33,630.42 33,714.36 $ 267,376.40 $ $33,798.50 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 234,245.17 $ 52,100.91 201,031.29 52,685.53 167,734.51 53,187.25 134,354.63 53,605.87 100,891.45 53,941.19 67,344.75 54,192.99 33,714.33 54,361.07 (0.00) 54,445.21 $ 267,376.40 $ 3,011.60 $ 270,388.00 267,376.40 3,011.60 270,388.00 47 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#14 Computer Equipment PERIODIC PAYMENT Calculated payment: LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: $1,246,651.39 2.64400% 3 12 3/17/2005 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 28 7/17/2007 $ 320,983.29 29 8/17/2007 285,631.65 30 9/17/2007 250,202.12 31 10/17/2007 214,694.53 32 11/17/2007 179,108.70 33 12/17/2007 143,444.47 34 1/17/2008 107,701.66 35 2/17/2008 71,880.09 36 3/17/2008 35,979.60 Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ $36,058.87 Fiscal Year Ended 6/30 Interest 707.23 629.34 551.28 473.04 394.64 316.06 237.30 158.38 79.28 $ 3,546.55 $ Principal 35,351.64 $ 35,429.53 35,507.59 35,585.83 35,664.23 35,742.81 35,821.57 35,900.49 35,979.60 $ 320,983.29 $ Ending Cumulative Balance Interest 285,631.65 $ 48,628.62 250,202.12 49,257.96 214,694.53 49,809.24 179,108.70 50,282.28 143,444.47 50,676.92 107,701.66 50,992.98 71,880.09 51,230.28 35,979.60 51,388.66 (0.00) 51,467.94 Principal Interest $ 320,983.29 $ 3,546.55 Total $ 324,529.84 320,983.29 3,546.55 324,529.84 48 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#15 Computer Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: PERIODIC PAYMENT Calculated payment: $1,223,651.69 3.12000% 3 12 6/30/2005 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 26 7/30/2007 $ 386,100.96 27 8/30/2007 351,454.80 28 9/30/2007 316,718.56 29 10/30/2007 281,892.01 30 11/30/2007 246,974.91 31 12/30/2007 211,967.02 32 1/30/2008 176,868.11 33 2/29/2008 141,677.95 34 3/30/2008 106,396.29 35 4/30/2008 71,022.90 36 5/30/2008 35,557.54 Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ $35,650.02 Fiscal Year Ended 6/30 Interest 1,003.86 913.78 823.47 732.92 642.13 551.11 459.86 368.36 276.63 184.66 92.45 $ 6,049.23 $ Principal 34,646.16 $ 34,736.24 34,826.55 34,917.10 35,007.89 35,098.91 35,190.16 35,281.66 35,373.39 35,465.36 35,557.54 $ 386,100.96 $ Ending Balance 351,454.80 316,718.56 281,892.01 246,974.91 211,967.02 176,868.11 141,677.95 106,396.29 71,022.90 35,557.54 - Cumulative Interest $ 54,703.63 55,617.41 56,440.88 57,173.80 57,815.93 58,367.04 58,826.90 59,195.26 59,471.89 59,656.55 59,749.00 Principal Interest $ 386,100.96 $ 6,049.23 Total $ 392,150.19 386,100.96 6,049.23 392,150.19 49 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#16 Computer Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 25 7/6/2007 $ 26 8/6/2007 27 9/6/2007 28 10/6/2007 29 11/6/2007 30 12/6/2007 31 1/6/2008 32 2/6/2008 33 3/6/2008 34 4/6/2008 35 5/6/2008 36 6/6/2008 PERIODIC PAYMENT Calculated payment: $3,546,496.76 2.84002% 3 12 7/6/2005 Beginning Balance 1,215,853.61 1,115,844.59 1,015,598.88 915,115.92 814,395.15 713,436.00 612,237.92 510,800.33 409,122.67 307,204.37 205,044.86 102,643.58 Interest 2,877.54 2,640.85 2,403.60 2,165.79 1,927.41 1,688.48 1,448.97 1,208.90 968.26 727.05 485.28 242.92 $ 18,785.05 $ Principal $ 100,009.02 $ 100,245.71 100,482.96 100,720.77 100,959.15 101,198.08 101,437.59 101,677.66 101,918.30 102,159.51 102,401.28 102,643.58 $1,215,853.61 $102,886.56 Fiscal Y ear Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 1,115,844.59 $ 141,511.83 1,015,598.88 144,152.68 915,115.92 146,556.28 814,395.15 148,722.07 713,436.00 150,649.48 612,237.92 152,337.96 510,800.33 153,786.93 409,122.67 154,995.83 307,204.37 155,964.09 205,044.86 156,691.14 102,643.58 157,176.42 (0.00) 157,419.34 $ 1,215,853.61 $ 18,785.05 $ 1,234,638.66 Outstanding as of June 30, 2007 Principal $ 1,215,853.61 Total Interest Payment 18,785.05 Total Debt Service Payable $ 1,234,638.66 50 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#17 Computer Equipment PERIODIC PAY MENT Calculated payment: LOAN DATA $1,114,677.45 3.48000% 3 12 1/22/2006 Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 19 7/22/2007 20 8/22/2007 21 9/22/2007 22 10/22/2007 23 11/22/2007 24 12/22/2007 25 1/22/2008 26 2/22/2008 27 3/22/2008 28 4/22/2008 29 5/22/2008 30 6/22/2008 31 7/22/2008 32 8/22/2008 33 9/22/2008 34 10/22/2008 35 11/22/2008 36 12/22/2008 $32,656.74 Fiscal Year Ended 6/30 Beginning Balance $ 571,896.73 540,902.59 509,818.34 478,643.73 447,378.49 416,022.35 384,575.06 353,036.34 321,405.93 289,683.57 257,868.99 225,961.92 193,962.09 161,869.23 129,683.07 97,403.34 65,029.77 32,562.08 Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ Interest 1,662.60 1,572.49 1,482.13 1,391.50 1,300.60 1,209.45 1,118.02 1,026.33 934.38 842.16 749.67 656.91 563.88 470.58 377.01 283.17 189.05 94.66 $ 15,924.59 $ Principal 30,994.14 31,084.25 31,174.61 31,265.24 31,356.14 31,447.29 31,538.72 31,630.41 31,722.36 31,814.58 31,907.07 31,999.83 32,092.86 32,186.16 32,279.73 32,373.57 32,467.69 32,562.08 $ 571,896.73 $ $ Ending Balance 540,902.59 509,818.34 478,643.73 447,378.49 416,022.35 384,575.06 353,036.34 321,405.93 289,683.57 257,868.99 225,961.92 193,962.09 161,869.23 129,683.07 97,403.34 65,029.77 32,562.08 - Cumulative Interest $ 46,703.20 48,275.69 49,757.82 51,149.32 52,449.92 53,659.37 54,777.39 55,803.72 56,738.10 57,580.26 58,329.93 58,986.84 59,550.72 60,021.30 60,398.31 60,681.48 60,870.53 60,965.19 Principal Interest Total $ 377,934.64 $ 13,946.24 $ 391,880.88 $ 193,962.09 $ 1,978.35 $ 195,940.44 571,896.73 15,924.59 587,821.32 51 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#18 Computer Equipment PERIODIC PAYMENT Calculated payment: LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: $1,381,469.44 3.75900% 3 12 5/10/2006 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 15 7/10/2007 $ 862,632.58 16 8/10/2007 824,696.23 17 9/10/2007 786,641.05 18 10/10/2007 748,466.66 19 11/10/2007 710,172.69 20 12/10/2007 671,758.76 21 1/10/2008 633,224.50 22 2/10/2008 594,569.53 23 3/10/2008 555,793.47 24 4/10/2008 516,895.95 25 5/10/2008 477,876.58 26 6/10/2008 438,734.98 27 7/10/2008 399,470.77 28 8/10/2008 360,083.57 29 9/10/2008 320,572.99 30 10/10/2008 280,938.64 31 11/10/2008 241,180.14 32 12/10/2008 201,297.09 33 1/10/2009 161,289.11 34 2/10/2009 121,155.80 35 3/10/2009 80,896.78 36 4/10/2009 40,511.64 Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ Interest 2,702.19 2,583.36 2,464.15 2,344.57 2,224.61 2,104.28 1,983.57 1,862.48 1,741.02 1,619.17 1,496.94 1,374.33 1,251.34 1,127.96 1,004.19 880.04 755.49 630.56 505.23 379.52 253.40 126.90 $ 31,415.30 $ Principal 37,936.35 38,055.18 38,174.39 38,293.97 38,413.93 38,534.26 38,654.97 38,776.06 38,897.52 39,019.37 39,141.60 39,264.21 39,387.20 39,510.58 39,634.35 39,758.50 39,883.05 40,007.98 40,133.31 40,259.02 40,385.14 40,511.64 $ 862,632.58 $ $ Ending Balance 824,696.23 786,641.05 748,466.66 710,172.69 671,758.76 633,224.50 594,569.53 555,793.47 516,895.95 477,876.58 438,734.98 399,470.77 360,083.57 320,572.99 280,938.64 241,180.14 201,297.09 161,289.11 121,155.80 80,896.78 40,511.64 - $40,638.54 Fiscal Y ear Ended 6/30 Cumulative Interest Principal Interest Total $ 52,804.89 55,388.25 57,852.40 60,196.97 62,421.58 64,525.86 66,509.43 68,371.91 70,112.93 71,732.10 73,229.04 74,603.37 $ 463,161.81 $ 24,500.67 $ 487,662.48 75,854.71 76,982.67 77,986.86 78,866.90 79,622.39 80,252.95 80,758.18 81,137.70 81,391.10 81,518.00 $ 399,470.77 $ 6,914.63 $ 406,385.40 862,632.58 31,415.30 894,047.88 52 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments Desktop Refresh Program 06-01 Computer Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 16 7/17/2007 $ 496,892.34 17 8/17/2007 473,981.60 18 9/17/2007 450,997.30 19 10/17/2007 427,939.20 20 11/17/2007 404,807.07 21 12/17/2007 381,600.66 22 1/17/2008 358,319.74 23 2/17/2008 334,964.07 24 3/17/2008 311,533.41 25 4/17/2008 288,027.52 26 5/17/2008 264,446.15 27 6/17/2008 240,789.07 28 7/17/2008 217,056.03 29 8/17/2008 193,246.78 30 9/17/2008 169,361.09 31 10/17/2008 145,398.71 32 11/17/2008 121,359.38 33 12/17/2008 97,242.87 34 1/17/2009 73,048.93 35 2/17/2009 48,777.30 36 3/17/2009 24,427.74 Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ PERIODIC PAYMENT Calculated payment: $831,884.20 3.85300% 3 12 4/17/2006 $24,506.18 Fiscal Y ear Ended 6/30 Interest 1,595.44 1,521.88 1,448.08 1,374.05 1,299.77 1,225.26 1,150.51 1,075.52 1,000.29 924.81 849.10 773.14 696.93 620.49 543.80 466.85 389.67 312.24 234.55 156.62 78.44 $ 17,737.44 $ Principal 22,910.74 22,984.30 23,058.10 23,132.13 23,206.41 23,280.92 23,355.67 23,430.66 23,505.89 23,581.37 23,657.08 23,733.04 23,809.25 23,885.69 23,962.38 24,039.33 24,116.51 24,193.94 24,271.63 24,349.56 24,427.74 $ 496,892.34 $ $ Ending Balance 473,981.60 450,997.30 427,939.20 404,807.07 381,600.66 358,319.74 334,964.07 311,533.41 288,027.52 264,446.15 240,789.07 217,056.03 193,246.78 169,361.09 145,398.71 121,359.38 97,242.87 73,048.93 48,777.30 24,427.74 0.00 Cumulative Interest $ 34,196.28 35,718.16 37,166.24 38,540.29 39,840.06 41,065.32 42,215.83 43,291.35 44,291.64 45,216.45 46,065.55 46,838.69 47,535.62 48,156.11 48,699.91 49,166.76 49,556.43 49,868.67 50,103.22 50,259.84 50,338.28 Principal Interest Total $ 279,836.31 $ 14,237.85 $ 294,074.16 $ 217,056.03 $ 3,499.59 $ 220,555.62 496,892.34 17,737.44 514,629.78 53 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments Laptop Refresh Program 06-01 Computer Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 13 7/20/2007 $ 260,400.12 14 8/20/2007 249,953.19 15 9/20/2007 239,472.04 16 10/20/2007 228,956.57 17 11/20/2007 218,406.66 18 12/20/2007 207,822.19 19 1/20/2008 197,203.07 20 2/20/2008 186,549.17 21 3/20/2008 175,860.37 22 4/20/2008 165,136.57 23 5/20/2008 154,377.65 24 6/20/2008 143,583.49 25 7/20/2008 132,753.98 26 8/20/2008 121,889.01 27 9/20/2008 110,988.45 28 10/20/2008 100,052.20 29 11/20/2008 89,080.12 30 12/20/2008 78,072.12 31 1/20/2009 67,028.06 32 2/20/2009 55,947.83 33 3/20/2009 44,831.32 34 4/20/2009 33,678.40 35 5/20/2009 22,488.95 36 6/20/2009 11,262.86 Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ PERIODIC PAYMENT Calculated payment: $383,134.94 3.93000% 3 12 7/20/2006 Interest 852.81 818.59 784.27 749.83 715.27 680.62 645.84 610.94 575.94 540.82 505.58 470.23 434.77 399.18 363.49 327.66 291.74 255.68 219.51 183.23 146.82 110.29 73.65 36.88 $ 10,793.64 $ Principal 10,446.93 $ 10,481.15 10,515.47 10,549.91 10,584.47 10,619.12 10,653.90 10,688.80 10,723.80 10,758.92 10,794.16 10,829.51 10,864.97 10,900.56 10,936.25 10,972.08 11,008.00 11,044.06 11,080.23 11,116.51 11,152.92 11,189.45 11,226.09 11,262.86 $ 260,400.12 $ Ending Balance 249,953.19 239,472.04 228,956.57 218,406.66 207,822.19 197,203.07 186,549.17 175,860.37 165,136.57 154,377.65 143,583.49 132,753.98 121,889.01 110,988.45 100,052.20 89,080.12 78,072.12 67,028.06 55,947.83 44,831.32 33,678.40 22,488.95 11,262.86 0.00 $11,299.74 Fiscal Y ear Ended 6/30 Cumulative Interest Principal Interest Total $ 13,714.87 14,533.46 15,317.73 16,067.56 16,782.83 17,463.45 18,109.29 18,720.23 19,296.17 19,836.99 20,342.57 20,812.80 $ 127,646.14 $ 7,950.74 $ 135,596.88 21,247.57 21,646.75 22,010.24 22,337.90 22,629.64 22,885.32 23,104.83 23,288.06 23,434.88 23,545.17 23,618.82 23,655.70 $ 132,753.98 $ 2,842.90 $ 135,596.88 260,400.12 10,793.64 271,193.76 54 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#19 Computer Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 13 7/26/2007 $ 14 8/26/2007 15 9/26/2007 16 10/26/2007 17 11/26/2007 18 12/26/2007 19 1/26/2008 20 2/26/2008 21 3/26/2008 22 4/26/2008 23 5/26/2008 24 6/26/2008 25 7/26/2008 26 8/26/2008 27 9/26/2008 28 10/26/2008 29 11/26/2008 30 12/26/2008 31 1/26/2009 32 2/26/2009 33 3/26/2009 34 4/26/2009 35 5/26/2009 36 6/26/2009 PERIODIC PAYMENT Calculated payment: $2,583,425.33 3.82000% 3 12 7/26/2006 Beginning Balance 1,754,936.29 1,684,457.48 1,613,754.13 1,542,825.53 1,471,670.96 1,400,289.70 1,328,681.03 1,256,844.22 1,184,778.54 1,112,483.27 1,039,957.67 967,201.02 894,212.57 820,991.59 747,537.33 673,849.06 599,926.02 525,767.47 451,372.66 376,740.84 301,871.25 226,763.13 151,415.72 75,828.27 Interest 5,591.04 5,366.50 5,141.25 4,915.28 4,688.59 4,461.18 4,233.04 4,004.17 3,774.58 3,544.25 3,313.20 3,081.40 2,848.87 2,615.59 2,381.58 2,146.81 1,911.30 1,675.04 1,438.03 1,200.26 961.73 722.44 482.40 241.58 $ 70,740.11 $ Principal 70,478.81 $ 70,703.35 70,928.60 71,154.57 71,381.26 71,608.67 71,836.81 72,065.68 72,295.27 72,525.60 72,756.65 72,988.45 73,220.98 73,454.26 73,688.27 73,923.04 74,158.55 74,394.81 74,631.82 74,869.59 75,108.12 75,347.41 75,587.45 75,828.27 $1,754,936.29 $ $76,069.85 Fiscal Y ear Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 1,684,457.48 $ 89,940.20 1,613,754.13 95,306.70 1,542,825.53 100,447.95 1,471,670.96 105,363.23 1,400,289.70 110,051.82 1,328,681.03 114,513.00 1,256,844.22 118,746.04 1,184,778.54 122,750.21 1,112,483.27 126,524.79 1,039,957.67 130,069.04 967,201.02 133,382.24 894,212.57 136,463.64 $ 860,723.72 $ 52,114.48 $ 912,838.20 820,991.59 139,312.51 747,537.33 141,928.10 673,849.06 144,309.68 599,926.02 146,456.49 525,767.47 148,367.79 451,372.66 150,042.83 376,740.84 151,480.86 301,871.25 152,681.12 226,763.13 153,642.85 151,415.72 154,365.29 75,828.27 154,847.69 (0.00) 155,089.27 $ 894,212.57 $ 18,625.63 $ 912,838.20 Outstanding as of June 30, 2007 Principal $ 1,754,936.29 Total Interest Payment 70,740.11 Total Debt Service Payable $ 1,825,676.40 55 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Maricopa County Sheriff's Office Sheriff Radios Portable Radios PERIODIC PAYMENT Calculated payment: LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 13 7/30/2007 $ 14 8/30/2007 15 9/30/2007 16 10/30/2007 17 11/30/2007 18 12/30/2007 19 1/30/2008 20 2/29/2008 21 3/30/2008 22 4/30/2008 23 5/30/2008 24 6/30/2008 25 7/30/2008 26 8/30/2008 27 9/30/2008 28 10/30/2008 29 11/30/2008 30 12/30/2008 31 1/30/2009 32 2/28/2009 33 3/30/2009 34 4/30/2009 35 5/30/2009 36 6/30/2009 37 7/30/2009 38 8/30/2009 39 9/30/2009 40 10/30/2009 41 11/30/2009 42 12/30/2009 43 1/30/2010 44 2/28/2010 45 3/30/2010 46 4/30/2010 47 5/30/2010 48 6/30/2010 49 7/30/2010 50 8/30/2010 51 9/30/2010 52 10/30/2010 53 11/30/2010 54 12/30/2010 55 1/30/2011 56 2/28/2011 57 3/30/2011 58 4/30/2011 59 5/30/2011 60 6/30/2011 $2,292,262.83 3.81000% 5 60 7/30/2006 $42,022.96 Fiscal Y ear Ended 6/30 Beginning Balance 1,868,041.02 1,831,954.69 1,795,753.68 1,759,437.62 1,723,006.15 1,686,458.90 1,649,795.50 1,613,015.59 1,576,118.79 1,539,104.73 1,501,973.04 1,464,723.35 1,427,355.28 1,389,868.45 1,352,262.49 1,314,537.02 1,276,691.66 1,238,726.02 1,200,639.73 1,162,432.40 1,124,103.65 1,085,653.09 1,047,080.33 1,008,384.99 969,566.67 930,624.99 891,559.55 852,369.96 813,055.83 773,616.76 734,052.35 694,362.21 654,545.93 614,603.11 574,533.36 534,336.26 494,011.42 453,558.43 412,976.88 372,266.36 331,426.46 290,456.77 249,356.88 208,126.37 166,764.83 125,271.85 83,647.00 41,889.87 Interest 5,936.63 5,821.95 5,706.90 5,591.49 5,475.71 5,359.56 5,243.05 5,126.16 5,008.90 4,891.27 4,773.27 4,654.89 4,536.13 4,417.00 4,297.49 4,177.60 4,057.32 3,936.67 3,815.63 3,694.21 3,572.40 3,450.20 3,327.62 3,204.64 3,081.28 2,957.52 2,833.37 2,708.83 2,583.89 2,458.55 2,332.82 2,206.68 2,080.14 1,953.21 1,825.86 1,698.12 1,569.97 1,441.41 1,312.44 1,183.06 1,053.27 923.07 792.45 661.42 529.98 398.11 265.83 133.09 $ 149,061.06 $ Principal 36,086.33 $ 36,201.01 36,316.06 36,431.47 36,547.25 36,663.40 36,779.91 36,896.80 37,014.06 37,131.69 37,249.69 37,368.07 37,486.83 37,605.96 37,725.47 37,845.36 37,965.64 38,086.29 38,207.33 38,328.75 38,450.56 38,572.76 38,695.34 38,818.32 38,941.68 39,065.44 39,189.59 39,314.13 39,439.07 39,564.41 39,690.14 39,816.28 39,942.82 40,069.75 40,197.10 40,324.84 40,452.99 40,581.55 40,710.52 40,839.90 40,969.69 41,099.89 41,230.51 41,361.54 41,492.98 41,624.85 41,757.13 41,889.87 $1,868,041.02 $ Ending Balance 1,831,954.69 1,795,753.68 1,759,437.62 1,723,006.15 1,686,458.90 1,649,795.50 1,613,015.59 1,576,118.79 1,539,104.73 1,501,973.04 1,464,723.35 1,427,355.28 1,389,868.45 1,352,262.49 1,314,537.02 1,276,691.66 1,238,726.02 1,200,639.73 1,162,432.40 1,124,103.65 1,085,653.09 1,047,080.33 1,008,384.99 969,566.67 930,624.99 891,559.55 852,369.96 813,055.83 773,616.76 734,052.35 694,362.21 654,545.93 614,603.11 574,533.36 534,336.26 494,011.42 453,558.43 412,976.88 372,266.36 331,426.46 290,456.77 249,356.88 208,126.37 166,764.83 125,271.85 83,647.00 41,889.87 0.00 Cumulative Interest $ 85,990.34 91,812.29 97,519.19 103,110.68 108,586.39 113,945.95 119,189.00 124,315.16 129,324.06 134,215.33 138,988.60 143,643.49 148,179.62 152,596.62 156,894.11 161,071.71 165,129.03 169,065.70 172,881.33 176,575.54 180,147.94 183,598.14 186,925.76 190,130.40 193,211.68 196,169.20 199,002.57 201,711.40 204,295.29 206,753.84 209,086.66 211,293.34 213,373.48 215,326.69 217,152.55 218,850.67 220,420.64 221,862.05 223,174.49 224,357.55 225,410.82 226,333.89 227,126.34 227,787.76 228,317.74 228,715.85 228,981.68 229,114.77 Principal Interest Total $ 440,685.74 $ 63,589.78 $ 504,275.52 $ 457,788.61 $ 46,486.91 $ 504,275.52 $ 475,555.25 $ 28,720.27 $ 504,275.52 $ 494,011.42 $ 10,264.10 $ 504,275.52 Outstanding as of June 30, 2007 Principal $ 1,868,041.02 Total Interest Payment 149,061.06 Total Debt Service Payable $ 2,017,102.08 56 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#20 Computer Equipment PERIODIC PAYMENT Calculated payment: LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: $941,685.04 3.59010% 3 12 2/20/2007 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 6 7/20/2007 $ 816,872.24 7 8/20/2007 791,685.19 8 9/20/2007 766,422.78 9 10/20/2007 741,084.80 10 11/20/2007 715,671.01 11 12/20/2007 690,181.19 12 1/20/2008 664,615.11 13 2/20/2008 638,972.54 14 3/20/2008 613,253.27 15 4/20/2008 587,457.04 16 5/20/2008 561,583.64 17 6/20/2008 535,632.83 18 7/20/2008 509,604.38 19 8/20/2008 483,498.06 20 9/20/2008 457,313.64 21 10/20/2008 431,050.88 22 11/20/2008 404,709.55 23 12/20/2008 378,289.41 24 1/20/2009 351,790.23 25 2/20/2009 325,211.77 26 3/20/2009 298,553.79 27 4/20/2009 271,816.06 28 5/20/2009 244,998.34 29 6/20/2009 218,100.38 30 7/20/2009 191,121.95 31 8/20/2009 164,062.81 32 9/20/2009 136,922.71 33 10/20/2009 109,701.42 34 11/20/2009 82,399.26 35 12/20/2009 55,014.85 36 1/20/2010 27,548.51 $27,630.93 Fiscal Year Ended 6/30 Interest $ 2,443.88 2,368.52 2,292.95 2,217.14 2,141.11 2,064.85 1,988.36 1,911.66 1,834.70 1,757.53 1,680.12 1,602.48 1,524.61 1,446.51 1,368.17 1,289.60 1,210.79 1,131.75 1,052.47 972.95 893.20 813.21 732.97 652.50 571.79 490.83 409.64 328.20 246.52 164.59 82.42 $ 39,686.02 Principal 25,187.05 $ 25,262.41 25,337.98 25,413.79 25,489.82 25,566.08 25,642.57 25,719.27 25,796.23 25,873.40 25,950.81 26,028.45 26,106.32 26,184.42 26,262.76 26,341.33 26,420.14 26,499.18 26,578.46 26,657.98 26,737.73 26,817.72 26,897.96 26,978.43 27,059.14 27,140.10 27,221.29 27,302.16 27,384.41 27,466.34 27,548.51 $ 816,872.24 $ Ending Cumulative Balance Interest 791,685.19 $ 15,785.73 766,422.78 18,154.25 741,084.80 20,447.20 715,671.01 22,664.34 690,181.19 24,805.45 664,615.11 26,870.30 638,972.54 28,858.66 613,253.27 30,770.32 587,457.04 32,605.02 561,583.64 34,362.55 535,632.83 36,042.67 509,604.38 37,645.15 483,498.06 39,169.76 457,313.64 40,616.27 431,050.88 41,984.44 404,709.55 43,274.04 378,289.41 44,484.83 351,790.23 45,616.58 325,211.77 46,669.05 298,553.79 47,642.00 271,816.06 48,535.20 244,998.34 49,348.41 218,100.38 50,081.38 191,121.95 50,733.88 164,062.81 51,305.67 136,922.71 51,796.50 109,701.42 52,206.14 82,399.26 52,534.34 55,014.85 52,780.86 27,548.51 52,945.45 (0.00) 53,027.87 Principal Interest Total $ 307,267.86 $ 24,303.30 $ 331,571.16 $ 318,482.43 $ 13,088.73 $ 331,571.16 $ 191,121.95 $ 2,293.99 $ 193,415.94 Outstanding as of June 30, 2007 Principal $ 816,872.24 Total Interest Payment 39,686.02 Total Debt Service Payable $ 856,558.26 57 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#21 Computer Equipment PERIODIC PAYMENT Calculated payment: LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 3 7/3/2007 $ 4 8/3/2007 5 9/3/2007 6 10/3/2007 7 11/3/2007 8 12/3/2007 9 1/3/2008 10 2/3/2008 11 3/3/2008 12 4/3/2008 13 5/3/2008 14 6/3/2008 15 7/3/2008 16 8/3/2008 17 9/3/2008 18 10/3/2008 19 11/3/2008 20 12/3/2008 21 1/3/2009 22 2/3/2009 23 3/3/2009 24 4/3/2009 25 5/3/2009 26 6/3/2009 27 7/3/2009 28 8/3/2009 29 9/3/2009 30 10/3/2009 31 11/3/2009 32 12/3/2009 33 1/3/2010 34 2/3/2010 35 3/3/2010 36 4/3/2010 $1,178,779.79 3.66860% 3 12 5/3/2007 $34,628.78 Fiscal Year Ended 6/30 Beginning Balance 1,116,634.84 1,085,419.80 1,054,109.33 1,022,703.14 991,200.93 959,602.42 927,907.30 896,115.29 864,226.08 832,239.38 800,154.89 767,972.33 735,691.37 703,311.73 670,833.09 638,255.16 605,577.63 572,800.20 539,922.57 506,944.42 473,865.45 440,685.36 407,403.83 374,020.55 340,535.21 306,947.50 273,257.11 239,463.72 205,567.02 171,566.69 137,462.42 103,254.38 68,941.26 34,523.24 Interest 3,413.74 3,318.31 3,222.59 3,126.57 3,030.27 2,933.66 2,836.77 2,739.57 2,642.08 2,544.29 2,446.22 2,347.82 2,249.14 2,150.14 2,050.85 1,951.25 1,851.35 1,751.15 1,650.63 1,549.81 1,448.69 1,347.25 1,245.50 1,143.44 1,041.07 938.39 835.39 732.08 628.45 524.51 420.25 315.67 210.76 105.54 $ 60,743.20 $ Principal 31,215.04 $ 31,310.47 31,406.19 31,502.21 31,598.51 31,695.12 31,792.01 31,889.21 31,986.70 32,084.49 32,182.56 32,280.96 32,379.64 32,478.64 32,577.93 32,677.53 32,777.43 32,877.63 32,978.15 33,078.97 33,180.09 33,281.53 33,383.28 33,485.34 33,587.71 33,690.39 33,793.39 33,896.70 34,000.33 34,104.27 34,208.04 34,313.12 34,418.02 34,523.24 $1,116,634.84 $ Ending Balance 1,085,419.80 1,054,109.33 1,022,703.14 991,200.93 959,602.42 927,907.30 896,115.29 864,226.08 832,239.38 800,154.89 767,972.33 735,691.37 703,311.73 670,833.09 638,255.16 605,577.63 572,800.20 539,922.57 506,944.42 473,865.45 440,685.36 407,403.83 374,020.55 340,535.21 306,947.50 273,257.11 239,463.72 205,567.02 171,566.69 137,462.42 103,254.38 68,941.26 34,523.24 0.00 Cumulative Interest $ 10,526.35 13,844.66 17,067.25 20,193.82 23,224.09 26,157.75 28,994.52 31,734.09 34,376.17 36,920.46 39,366.68 41,714.50 43,963.64 46,113.78 48,164.63 50,115.88 51,967.23 53,718.38 55,369.01 56,918.82 58,367.51 59,714.76 60,960.26 62,103.70 63,144.77 64,083.16 64,918.55 65,650.63 66,279.08 66,803.59 67,223.84 67,539.51 67,750.27 67,855.81 Principal Interest Total $ 380,943.47 $ 34,601.89 $ 415,545.36 $ 395,156.16 $ 20,389.20 $ 415,545.36 $ 340,535.21 $ 5,752.11 $ 346,287.32 Outstanding as of June 30, 2007 Principal $ 1,116,634.84 Total Interest Payment 60,743.20 Total Debt Service Payable $ 1,177,378.04 58 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments Laptop Refresh Program 07-01 Computer Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 3 7/3/2007 $ 393,856.28 4 8/3/2007 382,908.08 5 9/3/2007 371,922.73 6 10/3/2007 360,900.11 7 11/3/2007 349,840.07 8 12/3/2007 338,742.51 9 1/3/2008 327,607.28 10 2/3/2008 316,434.27 11 3/3/2008 305,223.34 12 4/3/2008 293,974.36 13 5/3/2008 282,687.21 14 6/3/2008 271,361.76 15 7/3/2008 259,997.88 16 8/3/2008 248,595.43 17 9/3/2008 237,154.28 18 10/3/2008 225,674.31 19 11/3/2008 214,155.39 20 12/3/2008 202,597.37 21 1/3/2009 191,000.13 22 2/3/2009 179,363.53 23 3/3/2009 167,687.45 24 4/3/2009 155,971.74 25 5/3/2009 144,216.27 26 6/3/2009 132,420.91 27 7/3/2009 120,585.53 28 8/3/2009 108,709.97 29 9/3/2009 96,794.12 30 10/3/2009 84,837.84 31 11/3/2009 72,840.97 32 12/3/2009 60,803.40 33 1/3/2010 48,724.98 34 2/3/2010 36,605.56 35 3/3/2010 24,445.02 36 4/3/2010 12,243.21 Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ PERIODIC PAYMENT Calculated payment: $415,641.71 4.07230% 3 12 5/3/2007 Interest 1,336.56 1,299.41 1,262.14 1,224.72 1,187.20 1,149.53 1,111.75 1,073.83 1,035.78 997.61 959.31 920.88 882.31 843.61 804.79 765.84 726.74 687.52 648.16 608.68 569.05 529.29 489.40 449.38 409.20 368.91 328.48 287.89 247.19 206.34 165.34 124.22 82.95 41.55 $ 23,825.56 $ Principal $ 10,948.20 $ $ 10,985.35 $ 11,022.62 $ 11,060.04 $ 11,097.56 $ 11,135.23 $ 11,173.01 $ 11,210.93 $ 11,248.98 $ 11,287.15 $ 11,325.45 $ 11,363.88 $ 11,402.45 $ 11,441.15 $ 11,479.97 $ 11,518.92 $ 11,558.02 $ 11,597.24 $ 11,636.60 $ 11,676.08 $ 11,715.71 $ 11,755.47 $ 11,795.36 $ 11,835.38 $ 11,875.56 $ 11,915.85 $ 11,956.28 $ 11,996.87 $ 12,037.57 $ 12,078.42 $ 12,119.42 $ 12,160.54 $ 12,201.81 $ 12,243.21 $ 393,856.28 Ending Balance 382,908.08 371,922.73 360,900.11 349,840.07 338,742.51 327,607.28 316,434.27 305,223.34 293,974.36 282,687.21 271,361.76 259,997.88 248,595.43 237,154.28 225,674.31 214,155.39 202,597.37 191,000.13 179,363.53 167,687.45 155,971.74 144,216.27 132,420.91 120,585.53 108,709.97 96,794.12 84,837.84 72,840.97 60,803.40 48,724.98 36,605.56 24,445.02 12,243.21 0.00 $12,284.76 Fiscal Y ear Ended 6/30 Cumulative Interest Principal Interest Total $ 4,120.65 5,420.06 6,682.20 7,906.92 9,094.12 10,243.65 11,355.40 12,429.23 13,465.01 14,462.62 15,421.93 16,342.81 $ 133,858.40 $ 13,558.72 $ 147,417.12 17,225.12 18,068.73 18,873.52 19,639.36 20,366.10 21,053.62 21,701.78 22,310.46 22,879.51 23,408.80 23,898.20 24,347.58 $ 139,412.35 $ 8,004.77 $ 147,417.12 24,756.78 25,125.69 25,454.17 25,742.06 25,989.25 26,195.59 26,360.93 26,485.15 26,568.10 26,609.65 $ 120,585.53 $ 2,262.07 $ 122,847.60 393,856.28 23,825.56 417,681.84 59 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#22 Computer Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 2 7/27/2007 $ 3 8/27/2007 4 9/27/2007 5 10/27/2007 6 11/27/2007 7 12/27/2007 8 1/27/2008 9 2/27/2008 10 3/27/2008 11 4/27/2008 12 5/27/2008 13 6/27/2008 14 7/27/2008 15 8/27/2008 16 9/27/2008 17 10/27/2008 18 11/27/2008 19 12/27/2008 20 1/27/2009 21 2/27/2009 22 3/27/2009 23 4/27/2009 24 5/27/2009 25 6/27/2009 26 7/27/2009 27 8/27/2009 28 9/27/2009 29 10/27/2009 30 11/27/2009 31 12/27/2009 32 1/27/2010 33 2/27/2010 34 3/27/2010 35 4/27/2010 36 5/27/2010 PERIODIC PAYMENT Calculated payment: $1,676,149.38 3.81000% 3 12 6/27/2007 $49,352.18 Fiscal Year Ended 6/30 Beginning Balance 1,632,132.33 1,587,975.18 1,543,677.48 1,499,238.78 1,454,658.63 1,409,936.58 1,365,072.19 1,320,064.99 1,274,914.54 1,229,620.37 1,184,182.03 1,138,599.07 1,092,871.02 1,046,997.42 1,000,977.80 954,811.70 908,498.66 862,038.20 815,429.86 768,673.17 721,767.65 674,712.83 627,508.24 580,153.40 532,647.83 484,991.05 437,182.58 389,221.94 341,108.64 292,842.20 244,422.13 195,847.94 147,118.99 98,235.09 49,195.59 Interest $ 5,195.03 5,054.48 4,913.48 4,772.03 4,630.13 4,487.79 4,344.98 4,201.73 4,058.01 3,913.84 3,769.22 3,624.13 3,478.58 3,332.56 3,186.08 3,039.14 2,891.72 2,743.84 2,595.49 2,446.66 2,297.36 2,147.59 1,997.34 1,846.61 1,695.40 1,543.71 1,391.54 1,238.88 1,085.74 932.11 777.99 623.38 468.28 312.68 156.59 $ 95,194.12 Principal 44,157.15 $ 44,297.70 44,438.70 44,580.15 44,722.05 44,864.39 45,007.20 45,150.45 45,294.17 45,438.34 45,582.96 45,728.05 45,873.60 46,019.62 46,166.10 46,313.04 46,460.46 46,608.34 46,756.69 46,905.52 47,054.82 47,204.59 47,354.84 47,505.57 47,656.78 47,808.47 47,960.64 48,113.30 48,266.44 48,420.07 48,574.19 48,728.95 48,883.90 49,039.50 49,195.59 $1,632,132.33 $ Ending Balance 1,587,975.18 1,543,677.48 1,499,238.78 1,454,658.63 1,409,936.58 1,365,072.19 1,320,064.99 1,274,914.54 1,229,620.37 1,184,182.03 1,138,599.07 1,092,871.02 1,046,997.42 1,000,977.80 954,811.70 908,498.66 862,038.20 815,429.86 768,673.17 721,767.65 674,712.83 627,508.24 580,153.40 532,647.83 484,991.05 437,182.58 389,221.94 341,108.64 292,842.20 244,422.13 195,847.94 147,118.99 98,235.09 49,195.59 0.00 Cumulative Interest $ 10,530.16 15,584.64 20,498.12 25,270.15 29,900.28 34,388.07 38,733.05 42,934.78 46,992.79 50,906.63 54,675.85 58,299.98 61,778.56 65,111.12 68,297.20 71,336.34 74,228.06 76,971.90 79,567.39 82,014.05 84,311.41 86,459.00 88,456.34 90,302.95 91,998.35 93,542.06 94,933.60 96,172.48 97,258.22 98,190.33 98,968.32 99,591.70 100,059.98 100,372.66 100,529.25 Principal Interest Total $ 539,261.31 $ 52,964.85 $ 592,226.16 $ 560,223.19 $ 32,002.97 $ 592,226.16 $ 532,647.83 $ 10,226.30 $ 542,874.13 Outstanding as of June 30, 2007 Principal $ 1,632,132.33 Total Interest Payment 95,194.12 Total Debt Service Payable $ 1,727,326.45 60 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#23 Computer Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 1 7/26/2007 $ 2 8/26/2007 3 9/26/2007 4 10/26/2007 5 11/26/2007 6 12/26/2007 7 1/26/2008 8 2/26/2008 9 3/26/2008 10 4/26/2008 11 5/26/2008 12 6/26/2008 13 7/26/2008 14 8/26/2008 15 9/26/2008 16 10/26/2008 17 11/26/2008 18 12/26/2008 19 1/26/2009 20 2/26/2009 21 3/26/2009 22 4/26/2009 23 5/26/2009 24 6/26/2009 25 7/26/2009 26 8/26/2009 27 9/26/2009 28 10/26/2009 29 11/26/2009 30 12/26/2009 31 1/26/2010 32 2/26/2010 33 3/26/2010 34 4/26/2010 35 5/26/2010 36 6/26/2010 PERIODIC PAYMENT Calculated payment: $4,911,404.59 3.90200% 3 12 7/26/2007 Beginning Balance 4,911,404.59 4,782,584.97 4,653,346.45 4,523,687.67 4,393,607.27 4,263,103.87 4,132,176.09 4,000,822.56 3,869,041.89 3,736,832.70 3,604,193.59 3,471,123.16 3,337,620.01 3,203,682.73 3,069,309.91 2,934,500.13 2,799,251.97 2,663,564.01 2,527,434.82 2,390,862.96 2,253,846.99 2,116,385.47 1,978,476.95 1,840,119.98 1,701,313.10 1,562,054.84 1,422,343.74 1,282,178.32 1,141,557.11 1,000,478.62 858,941.37 716,943.87 574,484.62 431,562.12 288,174.86 144,321.33 Interest $ 15,971.20 15,552.30 15,132.04 14,710.42 14,287.42 13,863.04 13,437.29 13,010.15 12,581.63 12,151.71 11,720.39 11,287.67 10,853.54 10,418.00 9,981.04 9,542.66 9,102.86 8,661.63 8,218.96 7,774.85 7,329.30 6,882.30 6,433.85 5,983.94 5,532.56 5,079.72 4,625.40 4,169.61 3,712.33 3,253.57 2,793.32 2,331.57 1,868.32 1,403.56 937.29 469.49 $ 301,064.93 Principal $ 128,819.62 $ 129,238.52 129,658.78 130,080.40 130,503.40 130,927.78 131,353.53 131,780.67 132,209.19 132,639.11 133,070.43 133,503.15 133,937.28 134,372.82 134,809.78 135,248.16 135,687.96 136,129.19 136,571.86 137,015.97 137,461.52 137,908.52 138,356.97 138,806.88 139,258.26 139,711.10 140,165.42 140,621.21 141,078.49 141,537.25 141,997.50 142,459.25 142,922.50 143,387.26 143,853.53 144,321.33 $4,911,404.59 Ending Balance 4,782,584.97 4,653,346.45 4,523,687.67 4,393,607.27 4,263,103.87 4,132,176.09 4,000,822.56 3,869,041.89 3,736,832.70 3,604,193.59 3,471,123.16 3,337,620.01 3,203,682.73 3,069,309.91 2,934,500.13 2,799,251.97 2,663,564.01 2,527,434.82 2,390,862.96 2,253,846.99 2,116,385.47 1,978,476.95 1,840,119.98 1,701,313.10 1,562,054.84 1,422,343.74 1,282,178.32 1,141,557.11 1,000,478.62 858,941.37 716,943.87 574,484.62 431,562.12 288,174.86 144,321.33 - $144,790.82 Fiscal Year Ended 6/30 Cumulative Interest Principal Interest Total $ 15,971.20 31,523.50 46,655.54 61,365.96 75,653.38 89,516.42 102,953.71 115,963.86 128,545.49 140,697.20 152,417.59 163,705.26 $ 1,573,784.58 $ 163,705.26 $ 1,737,489.84 174,558.80 184,976.80 194,957.84 204,500.50 213,603.36 222,264.99 230,483.95 238,258.80 245,588.10 252,470.40 258,904.25 264,888.19 $ 1,636,306.91 $ 101,182.93 $ 1,737,489.84 270,420.75 275,500.47 280,125.87 284,295.48 288,007.81 291,261.38 294,054.70 296,386.27 298,254.59 299,658.15 300,595.44 301,064.93 $ 1,701,313.10 $ 36,176.74 $ 1,737,489.84 Outstanding as of June 30, 2007 Principal $ 4,911,404.59 Total Interest Payment 301,064.93 Total Debt Service Payable $ 5,212,469.52 61 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments Netw ork Infrast ruct ure Computer Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 1 7/26/2007 $ 2 8/26/2007 3 9/26/2007 4 10/26/2007 5 11/26/2007 6 12/26/2007 7 1/26/2008 8 2/26/2008 9 3/26/2008 10 4/26/2008 11 5/26/2008 12 6/26/2008 13 7/26/2008 14 8/26/2008 15 9/26/2008 16 10/26/2008 17 11/26/2008 18 12/26/2008 19 1/26/2009 20 2/26/2009 21 3/26/2009 22 4/26/2009 23 5/26/2009 24 6/26/2009 25 7/26/2009 26 8/26/2009 27 9/26/2009 28 10/26/2009 29 11/26/2009 30 12/26/2009 31 1/26/2010 32 2/26/2010 33 3/26/2010 34 4/26/2010 35 5/26/2010 36 6/26/2010 PERIODIC PAYMENT Calculated payment: $6,178,775.88 3.97800% 3 12 7/26/2007 Beginning Balance 6,178,775.88 6,016,896.95 5,854,481.39 5,691,527.42 5,528,033.26 5,363,997.11 5,199,417.18 5,034,291.66 4,868,618.75 4,702,396.63 4,535,623.48 4,368,297.47 4,200,416.77 4,031,979.55 3,862,983.95 3,693,428.13 3,523,310.23 3,352,628.38 3,181,380.72 3,009,565.37 2,837,180.45 2,664,224.07 2,490,694.34 2,316,589.35 2,141,907.20 1,966,645.98 1,790,803.76 1,614,378.62 1,437,368.63 1,259,771.85 1,081,586.33 902,810.12 723,441.27 543,477.81 362,917.76 181,759.15 Interest $ 20,482.76 19,946.13 19,407.72 18,867.53 18,325.54 17,781.76 17,236.17 16,688.78 16,139.57 15,588.54 15,035.68 14,480.99 13,924.47 13,366.09 12,805.87 12,243.79 11,679.84 11,114.03 10,546.34 9,976.77 9,405.31 8,831.96 8,256.70 7,679.54 7,100.47 6,519.47 5,936.55 5,351.70 4,764.91 4,176.17 3,585.48 2,992.84 2,398.23 1,801.64 1,203.08 602.54 $ 386,244.96 Principal $ 161,878.93 $ 162,415.56 162,953.97 163,494.16 164,036.15 164,579.93 165,125.52 165,672.91 166,222.12 166,773.15 167,326.01 167,880.70 168,437.22 168,995.60 169,555.82 170,117.90 170,681.85 171,247.66 171,815.35 172,384.92 172,956.38 173,529.73 174,104.99 174,682.15 175,261.22 175,842.22 176,425.14 177,009.99 177,596.78 178,185.52 178,776.21 179,368.85 179,963.46 180,560.05 181,158.61 181,759.15 $6,178,775.88 $182,361.69 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 6,016,896.95 $ 20,482.76 5,854,481.39 40,428.89 5,691,527.42 59,836.61 5,528,033.26 78,704.14 5,363,997.11 97,029.68 5,199,417.18 114,811.44 5,034,291.66 132,047.61 4,868,618.75 148,736.39 4,702,396.63 164,875.96 4,535,623.48 180,464.50 4,368,297.47 195,500.18 4,200,416.77 209,981.17 $ 1,978,359.11 $ 209,981.17 $ 2,188,340.28 4,031,979.55 223,905.64 3,862,983.95 237,271.73 3,693,428.13 250,077.60 3,523,310.23 262,321.39 3,352,628.38 274,001.23 3,181,380.72 285,115.26 3,009,565.37 295,661.60 2,837,180.45 305,638.37 2,664,224.07 315,043.68 2,490,694.34 323,875.64 2,316,589.35 332,132.34 2,141,907.20 339,811.88 $ 2,058,509.57 $ 129,830.71 $ 2,188,340.28 1,966,645.98 346,912.35 1,790,803.76 353,431.82 1,614,378.62 359,368.37 1,437,368.63 364,720.07 1,259,771.85 369,484.98 1,081,586.33 373,661.15 902,810.12 377,246.63 723,441.27 380,239.47 543,477.81 382,637.70 362,917.76 384,439.34 181,759.15 385,642.42 (0.00) 386,244.96 $ 2,141,907.20 $ 46,433.08 $ 2,188,340.28 Outstanding as of June 30, 2007 Principal $ 6,178,775.88 Total Interest Payment 386,244.96 Total Debt Service Payable $ 6,565,020.84 62 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Maricopa County Sheriff's Office Sheriff Radios 2 Portable Radios PERIODIC PAYMENT Calculated payment: LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 2 7/16/2007 $ 3 8/16/2007 4 9/16/2007 5 10/16/2007 6 11/16/2007 7 12/16/2007 8 1/16/2008 9 2/16/2008 10 3/16/2008 11 4/16/2008 12 5/16/2008 13 6/16/2008 14 7/16/2008 15 8/16/2008 16 9/16/2008 17 10/16/2008 18 11/16/2008 19 12/16/2008 20 1/16/2009 21 2/16/2009 22 3/16/2009 23 4/16/2009 24 5/16/2009 25 6/16/2009 26 7/16/2009 27 8/16/2009 28 9/16/2009 29 10/16/2009 30 11/16/2009 31 12/16/2009 32 1/16/2010 33 2/16/2010 34 3/16/2010 35 4/16/2010 36 5/16/2010 37 6/16/2010 38 7/16/2010 39 8/16/2010 40 9/16/2010 41 10/16/2010 42 11/16/2010 43 12/16/2010 44 1/16/2011 45 2/16/2011 46 3/16/2011 47 4/16/2011 48 5/16/2011 49 6/16/2011 50 7/16/2011 51 8/16/2011 52 9/16/2011 53 10/16/2011 54 11/16/2011 55 12/16/2011 56 1/16/2012 57 2/16/2012 58 3/16/2012 59 4/16/2012 60 5/16/2012 $2,560,303.91 3.77540% 5 60 6/16/2007 $46,892.78 Fiscal Year Ended 6/30 Beginning Balance 2,521,466.17 2,482,506.24 2,443,423.74 2,404,218.28 2,364,889.48 2,325,436.94 2,285,860.28 2,246,159.11 2,206,333.03 2,166,381.66 2,126,304.59 2,086,101.44 2,045,771.80 2,005,315.28 1,964,731.48 1,924,020.00 1,883,180.43 1,842,212.38 1,801,115.44 1,759,889.20 1,718,533.26 1,677,047.20 1,635,430.62 1,593,683.11 1,551,804.26 1,509,793.65 1,467,650.87 1,425,375.51 1,382,967.14 1,340,425.35 1,297,749.72 1,254,939.83 1,211,995.25 1,168,915.56 1,125,700.34 1,082,349.16 1,038,861.59 995,237.20 951,475.56 907,576.24 863,538.81 819,362.83 775,047.87 730,593.49 685,999.25 641,264.71 596,389.43 551,372.97 506,214.88 460,914.72 415,472.03 369,886.38 324,157.31 278,284.37 232,267.11 186,105.07 139,797.80 93,344.84 46,745.73 Interest 7,932.85 7,810.28 7,687.32 7,563.98 7,440.24 7,316.12 7,191.61 7,066.70 6,941.41 6,815.71 6,689.63 6,563.14 6,436.26 6,308.98 6,181.30 6,053.21 5,924.73 5,795.84 5,666.54 5,536.84 5,406.72 5,276.20 5,145.27 5,013.93 4,882.17 4,750.00 4,617.42 4,484.41 4,350.99 4,217.15 4,082.89 3,948.20 3,813.09 3,677.56 3,541.60 3,405.21 3,268.39 3,131.14 2,993.46 2,855.35 2,716.80 2,577.82 2,438.40 2,298.54 2,158.24 2,017.50 1,876.32 1,734.69 1,592.62 1,450.09 1,307.13 1,163.71 1,019.84 875.52 730.74 585.51 439.82 293.67 147.05 $ 245,207.85 $ Principal 38,959.93 39,082.50 39,205.46 39,328.80 39,452.54 39,576.66 39,701.17 39,826.08 39,951.37 40,077.07 40,203.15 40,329.64 40,456.52 40,583.80 40,711.48 40,839.57 40,968.05 41,096.94 41,226.24 41,355.94 41,486.06 41,616.58 41,747.51 41,878.85 42,010.61 42,142.78 42,275.36 42,408.37 42,541.79 42,675.63 42,809.89 42,944.58 43,079.69 43,215.22 43,351.18 43,487.57 43,624.39 43,761.64 43,899.32 44,037.43 44,175.98 44,314.96 44,454.38 44,594.24 44,734.54 44,875.28 45,016.46 45,158.09 45,300.16 45,442.69 45,585.65 45,729.07 45,872.94 46,017.26 46,162.04 46,307.27 46,452.96 46,599.11 46,745.73 $2,521,466.17 $ $ 63 Ending Cumulative Balance Interest 2,482,506.24 $ 15,987.89 2,443,423.74 23,798.17 2,404,218.28 31,485.49 2,364,889.48 39,049.47 2,325,436.94 46,489.71 2,285,860.28 53,805.83 2,246,159.11 60,997.44 2,206,333.03 68,064.14 2,166,381.66 75,005.55 2,126,304.59 81,821.26 2,086,101.44 88,510.89 2,045,771.80 95,074.03 2,005,315.28 101,510.29 1,964,731.48 107,819.27 1,924,020.00 114,000.57 1,883,180.43 120,053.78 1,842,212.38 125,978.51 1,801,115.44 131,774.35 1,759,889.20 137,440.89 1,718,533.26 142,977.73 1,677,047.20 148,384.45 1,635,430.62 153,660.65 1,593,683.11 158,805.92 1,551,804.26 163,819.85 1,509,793.65 168,702.02 1,467,650.87 173,452.02 1,425,375.51 178,069.44 1,382,967.14 182,553.85 1,340,425.35 186,904.84 1,297,749.72 191,121.99 1,254,939.83 195,204.88 1,211,995.25 199,153.08 1,168,915.56 202,966.17 1,125,700.34 206,643.73 1,082,349.16 210,185.33 1,038,861.59 213,590.54 995,237.20 216,858.93 951,475.56 219,990.07 907,576.24 222,983.53 863,538.81 225,838.88 819,362.83 228,555.68 775,047.87 231,133.50 730,593.49 233,571.90 685,999.25 235,870.44 641,264.71 238,028.68 596,389.43 240,046.18 551,372.97 241,922.50 506,214.88 243,657.19 460,914.72 245,249.81 415,472.03 246,699.90 369,886.38 248,007.03 324,157.31 249,170.74 278,284.37 250,190.58 232,267.11 251,066.10 186,105.07 251,796.84 139,797.80 252,382.35 93,344.84 252,822.17 46,745.73 253,115.84 (0.00) 253,262.89 Principal Interest Total $ 475,694.37 $ 87,018.99 $ 562,713.36 $ 493,967.54 $ 68,745.82 $ 562,713.36 $ 512,942.67 $ 49,770.69 $ 562,713.36 $ 532,646.71 $ 30,066.65 $ 562,713.36 $ 506,214.88 $ $ 515,820.58 9,605.70 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Maricopa County Sheriff's Office Sheriff Tasers Portable Tasers LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 5 7/28/2007 6 8/28/2007 7 9/28/2007 8 10/28/2007 9 11/28/2007 10 12/28/2007 11 1/28/2008 12 2/28/2008 13 3/28/2008 14 4/28/2008 15 5/28/2008 16 6/28/2008 17 7/28/2008 18 8/28/2008 19 9/28/2008 20 10/28/2008 21 11/28/2008 22 12/28/2008 23 1/28/2009 24 2/28/2009 25 3/28/2009 26 4/28/2009 27 5/28/2009 28 6/28/2009 29 7/28/2009 30 8/28/2009 31 9/28/2009 32 10/28/2009 33 11/28/2009 34 12/28/2009 35 1/28/2010 36 2/28/2010 PERIODIC PAYMENT Calculated payment: $1,659,771.61 3.80700% 3 36 3/28/2007 Beginning Balance 1,484,559.45 1,440,408.46 1,396,117.40 1,351,685.83 1,307,113.31 1,262,399.39 1,217,543.62 1,172,545.55 1,127,404.72 1,082,120.69 1,036,693.00 991,121.20 945,404.82 899,543.41 853,536.51 807,383.66 761,084.39 714,638.24 668,044.75 621,303.45 574,413.86 527,375.52 480,187.96 432,850.70 385,363.27 337,725.19 289,935.98 241,995.16 193,902.26 145,656.79 97,258.26 48,706.19 Interest 4,709.62 4,569.55 4,429.04 4,288.09 4,146.69 4,004.84 3,862.54 3,719.78 3,576.58 3,432.92 3,288.81 3,144.23 2,999.20 2,853.71 2,707.76 2,561.34 2,414.46 2,267.12 2,119.31 1,971.02 1,822.27 1,673.05 1,523.35 1,373.18 1,222.53 1,071.40 919.79 767.71 615.14 462.08 308.54 154.52 $ 78,980.17 Ending Balance 1,440,408.46 1,396,117.40 1,351,685.83 1,307,113.31 1,262,399.39 1,217,543.62 1,172,545.55 1,127,404.72 1,082,120.69 1,036,693.00 991,121.20 945,404.82 899,543.41 853,536.51 807,383.66 761,084.39 714,638.24 668,044.75 621,303.45 574,413.86 527,375.52 480,187.96 432,850.70 385,363.27 337,725.19 289,935.98 241,995.16 193,902.26 145,656.79 97,258.26 48,706.19 (0.00) Principal 44,150.99 44,291.06 44,431.57 44,572.52 44,713.92 44,855.77 44,998.07 45,140.83 45,284.03 45,427.69 45,571.80 45,716.38 45,861.41 46,006.90 46,152.85 46,299.27 46,446.15 46,593.49 46,741.30 46,889.59 47,038.34 47,187.56 47,337.26 47,487.43 47,638.08 47,789.21 47,940.82 48,092.90 48,245.47 48,398.53 48,552.07 48,706.19 $1,484,559.45 $48,860.61 Fiscal Year Ended 6/30 Cumulative Interest Principal Interest Total 24,939.90 29,509.45 33,938.49 38,226.58 42,373.27 46,378.11 50,240.65 53,960.43 57,537.01 60,969.93 64,258.74 67,402.97 $ 539,154.63 $ 47,172.69 $ 586,327.32 70,402.17 73,255.88 75,963.64 78,524.98 80,939.44 83,206.56 85,325.87 87,296.89 89,119.16 90,792.21 92,315.56 93,688.74 $ 560,041.55 $ 26,285.77 $ 586,327.32 94,911.27 95,982.67 96,902.46 97,670.17 98,285.31 98,747.39 99,055.93 99,210.45 $ 385,363.27 $ 5,521.71 $ 390,884.98 Outstanding as of June 30, 2007 Principal $ 1,484,559.45 Total Interest Payment 78,980.17 Total Debt Service Payable $ 1,563,539.62 64 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Maricopa County Elections Department Elections Voter Equipment Voter Equipment PERIODIC PAYMENT Calculated payment: LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment No. Date 10 7/20/2007 11 8/20/2007 12 9/20/2007 13 10/20/2007 14 11/20/2007 15 12/20/2007 16 1/20/2008 17 2/20/2008 18 3/20/2008 19 4/20/2008 20 5/20/2008 21 6/20/2008 22 7/20/2008 23 8/20/2008 24 9/20/2008 25 10/20/2008 26 11/20/2008 27 12/20/2008 28 1/20/2009 29 2/20/2009 30 3/20/2009 31 4/20/2009 32 5/20/2009 33 6/20/2009 34 7/20/2009 35 8/20/2009 36 9/20/2009 37 10/20/2009 38 11/20/2009 39 12/20/2009 40 1/20/2010 41 2/20/2010 42 3/20/2010 43 4/20/2010 44 5/20/2010 45 6/20/2010 46 7/20/2010 47 8/20/2010 48 9/20/2010 49 10/20/2010 50 11/20/2010 51 12/20/2010 52 1/20/2011 53 2/20/2011 54 3/20/2011 55 4/20/2011 56 5/20/2011 57 6/20/2011 58 7/20/2011 59 8/20/2011 60 9/20/2011 $6,197,731.96 3.64210% 5 60 10/20/2006 $113,142.53 Fiscal Year Ended 6/30 Beginning Balance 5,338,366.75 5,241,426.83 5,144,192.68 5,046,663.41 4,948,838.13 4,850,715.94 4,752,295.94 4,653,577.22 4,554,558.87 4,455,239.99 4,355,619.67 4,255,696.99 4,155,471.03 4,054,940.87 3,954,105.59 3,852,964.26 3,751,515.96 3,649,759.75 3,547,694.69 3,445,319.85 3,342,634.29 3,239,637.07 3,136,327.24 3,032,703.85 2,928,765.95 2,824,512.59 2,719,942.81 2,615,055.64 2,509,850.13 2,404,325.31 2,298,480.21 2,192,313.85 2,085,825.27 1,979,013.48 1,871,877.50 1,764,416.35 1,656,629.04 1,548,514.58 1,440,071.98 1,331,300.24 1,222,198.37 1,112,765.36 1,003,000.21 892,901.91 782,469.45 671,701.81 560,597.98 449,156.93 337,377.64 225,259.09 112,800.25 Interest 16,202.61 15,908.38 15,613.26 15,317.25 15,020.34 14,722.53 14,423.81 14,124.18 13,823.65 13,522.21 13,219.85 12,916.57 12,612.37 12,307.25 12,001.20 11,694.23 11,386.32 11,077.47 10,767.69 10,456.97 10,145.31 9,832.70 9,519.14 9,204.63 8,889.17 8,572.75 8,255.36 7,937.02 7,617.71 7,297.43 6,976.17 6,653.95 6,330.74 6,006.55 5,681.38 5,355.22 5,028.07 4,699.93 4,370.79 4,040.66 3,709.52 3,377.38 3,044.23 2,710.07 2,374.89 2,038.70 1,701.48 1,363.24 1,023.98 683.69 342.36 $ 431,902.36 Ending Balance 5,241,426.83 5,144,192.68 5,046,663.41 4,948,838.13 4,850,715.94 4,752,295.94 4,653,577.22 4,554,558.87 4,455,239.99 4,355,619.67 4,255,696.99 4,155,471.03 4,054,940.87 3,954,105.59 3,852,964.26 3,751,515.96 3,649,759.75 3,547,694.69 3,445,319.85 3,342,634.29 3,239,637.07 3,136,327.24 3,032,703.85 2,928,765.95 2,824,512.59 2,719,942.81 2,615,055.64 2,509,850.13 2,404,325.31 2,298,480.21 2,192,313.85 2,085,825.27 1,979,013.48 1,871,877.50 1,764,416.35 1,656,629.04 1,548,514.58 1,440,071.98 1,331,300.24 1,222,198.37 1,112,765.36 1,003,000.21 892,901.91 782,469.45 671,701.81 560,597.98 449,156.93 337,377.64 225,259.09 112,800.25 0.00 Principal 96,939.92 97,234.15 97,529.27 97,825.28 98,122.19 98,420.00 98,718.72 99,018.35 99,318.88 99,620.32 99,922.68 100,225.96 100,530.16 100,835.28 101,141.33 101,448.30 101,756.21 102,065.06 102,374.84 102,685.56 102,997.22 103,309.83 103,623.39 103,937.90 104,253.36 104,569.78 104,887.17 105,205.51 105,524.82 105,845.10 106,166.36 106,488.58 106,811.79 107,135.98 107,461.15 107,787.31 108,114.46 108,442.60 108,771.74 109,101.87 109,433.01 109,765.15 110,098.30 110,432.46 110,767.64 111,103.83 111,441.05 111,779.29 112,118.55 112,458.84 112,800.25 $5,338,366.75 Cumulative Interest 175,120.17 191,028.55 206,641.81 221,959.06 236,979.40 251,701.93 266,125.74 280,249.92 294,073.57 307,595.78 320,815.63 333,732.20 346,344.57 358,651.82 370,653.02 382,347.25 393,733.57 404,811.04 415,578.73 426,035.70 436,181.01 446,013.71 455,532.85 464,737.48 473,626.65 482,199.40 490,454.76 498,391.78 506,009.49 513,306.92 520,283.09 526,937.04 533,267.78 539,274.33 544,955.71 550,310.93 555,339.00 560,038.93 564,409.72 568,450.38 572,159.90 575,537.28 578,581.51 581,291.58 583,666.47 585,705.17 587,406.65 588,769.89 589,793.87 590,477.56 590,819.92 Principal Interest Total $ 1,182,895.72 $ 174,814.64 $ 1,357,710.36 $ 1,226,705.08 $ 131,005.28 $ 1,357,710.36 $ 1,272,136.91 $ 85,573.45 $ 1,357,710.36 $ 1,319,251.40 $ 38,458.96 $ 1,357,710.36 $ $ $ 337,377.64 2,050.03 339,427.67 Outstanding as of June 30, 2007 Principal $ 5,338,366.75 Total Interest Payment 431,902.36 Total Debt Service Payable $ 5,770,269.11 65 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan MARICOPA COUNTY, ARIZONA CALCULATED TOTAL OF INTERNAL SERVICE FUND CAPITAL LEASES Principal and Interest INTERNAL SERVICE FUND Department: Pur pose: FY 07-08 $ $ Tel ecom Equipment 55,001.93 55,001.93 I nternal Service Fund Total $ 55,001.93 $ 55,001.93 66 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Telecom Telecom Equipment Equipment LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: PERIODIC PAYMENT Calculated payment: $440,000.00 2.7500% 5 12 3/1/2003 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 54 8/1/2007 $ 54,501.18 55 9/1/2007 46,768.64 56 10/1/2007 39,018.38 57 11/1/2007 31,250.36 58 12/1/2007 23,464.54 59 1/1/2008 15,660.88 60 2/1/2008 7,839.33 Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ $7,857.44 Fiscal Year Ended 6/30 Interest $ 124.90 107.18 89.42 71.62 53.77 35.89 17.97 $ 500.75 $ $ Principal 7,732.54 7,750.26 7,768.02 7,785.82 7,803.66 7,821.55 7,839.33 54,501.18 $ Ending Balance 46,768.64 39,018.38 31,250.36 23,464.54 15,660.88 7,839.33 0.00 Cumulative Interest $ 31,070.37 31,177.55 31,266.97 31,338.59 31,392.36 31,428.25 31,446.22 Principal Interest Total $ 54,501.18 $ 500.75 $ 55,001.93 54,501.18 500.75 55,001.93 67 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan MARICOPA COUNTY, ARIZONA CALCULATED TOTAL OF INSTALLMENT PURCHASE CONTRACTS PAYABLE Principal and Interest Governmental Activities Department: Purpose: FY 07-08 Maricopa Med. Ctr. MRI $ $ 208,863.11 208,863.11 Total Governmental Activities $ $ 208,863.11 208,863.11 Maricopa Med. Ctr. MRI Interest $ 3,098.03 Net Principal Amount $ 205,765.08 68 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Maricopa Medical Center C90000771 MRI LOAN DATA Loan amount: Annual interest rate: Term in years: Payments per year: First payment due: PERIO DIC PAYMENT Calculated payment: $2,146,564.00 4.50000% 7 12 2/22/2001 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 78 7/22/2007 $ 205,764.82 79 8/22/2007 176,698.85 80 9/22/2007 147,523.89 81 10/22/2007 118,239.52 82 11/22/2007 88,845.33 83 12/22/2007 59,340.91 84 1/22/2008 29,725.85 $ $ Outstanding as of June 30, 2007 Principal $ Total Interest Payment Total Debt Service Payable $ Interest 771.62 662.62 553.22 443.40 333.17 222.53 111.47 3,098.03 $ $ Principal 29,065.97 29,174.96 29,284.37 29,394.19 29,504.42 29,615.06 29,726.11 205,765.08 $ $29,837.59 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 176,698.85 $ 357,466.87 147,523.89 358,129.49 118,239.52 358,682.71 88,845.33 359,126.11 59,340.91 359,459.28 29,725.85 359,681.81 (0.00) 359,793.28 $205,765.08 $ 3,098.03 $ 208,863.11 205,765.08 3,098.03 208,863.11 69 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan 70 Maricopa County, Arizona Department of Finance Debt Management Division