Debt Management Plan Fiscal Year Ended June 30, 2009 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.......................................................................................................................... 3 Short-Term Borrowing (Notes) .................................................................................. 4 General Obligation Bonds (GO) ................................................................................ 4 Revenue Bonds .......................................................................................................... 4 Special Assessment Bonds ...................................................................................... 5 Certificates of Participation (COP)............................................................................ 5 Lease Trust Certificates ............................................................................................. 5 Installment Purchase Agreements............................................................................ 5 Debt Limit .................................................................................................................... 5 Debt Per Capita........................................................................................................... 6 Rating Agency Analysis ............................................................................................ 7 History of Debt Rating ............................................................................................... 8 Ratio Analysis ............................................................................................................ 9 General Obligation Bonds ....................................................................................... 11 Lease Revenue Bonds ............................................................................................. 12 Stadium District ........................................................................................................ 14 Stadium District Loans Payable .............................................................................. 16 Special Assessment Districts ................................................................................. 17 Certificates of Participation ..................................................................................... 18 Capital Leases (Lease-Purchase Obligations) ....................................................... 19 i Maricopa County, Arizona Department of Finance Debt Management Division DEBT POLICIES ....................................................................................................................................................... 23 Administration of Policy .......................................................................................... 23 Use of Debt Financing ............................................................................................. 23 Method of Sale .......................................................................................................... 23 Competitive Sale ...................................................................................................... 23 Negotiated Sale ........................................................................................................ 23 Use of Bond Insurance ............................................................................................ 24 Arbitrage Liability Management .............................................................................. 24 Selection of Professional Services ......................................................................... 24 Continuing Disclosure of County Financial Information ...................................... 25 Maturity Structures .................................................................................................. 26 Ratings ...................................................................................................................... 26 Modification to Policies ........................................................................................... 26 INDIVIDUAL DEBT SERVICE SCHEDULES ....................................................................................................... 29 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, 2009. 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, 2009. 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, 2009. LONG-TERM LIABILITIES All Categories of Debt (2) Maricopa County, Arizona As of June 30, 2009 Year Ending June 30 2005 2006 2007 2008 2009 GOVERNMENTAL ACTIVITES: Bonds, loans, and other payables: General obligation bonds $ Lease revenue bonds (3) 0 $ 0 $ 0 $ 0 $ 0 101,101,501 81,188,067 181,245,043 173,670,000 163,900,000 Lease trust certificates 10,812,000 9,212,000 6,812,000 4,612,000 0 Stadium District revenue bonds (1) 52,735,000 50,050,000 47,230,000 44,270,000 41,165,000 4,428,888 2,428,888 978,394 10,864,916 10,465,338 Stadium District contractual obligations/loans payable (1) Special assessment debt with governmental commitment (1) Certificates of participation (3) Installment purchase agreements (3) Capital leases Total Governmental activities 235,458 154,267 103,077 82,519 193,591 5,500,000 5,115,000 4,715,000 4,295,000 3,850,000 892,254 546,202 205,765 0 0 33,039,132 50,093,644 51,135,339 13,507,633 16,312,891 $ 189,212,734 $ 165,007,315 $ 274,328,411 $ 287,888,079 $ 270,709,268 $ 43,499 $ 36,933 $ 29,957 $ 0 $ 0 $ 43,499 $ 36,933 $ 29,957 $ 0 $ 0 BUSINESS-TYPE ACTIVITES: Bonds and other payables: Lease revenue bonds (3) Total Business-type activities 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 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. 2 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan 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. 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. 3 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan 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 2009, the County had not borrowed against the line of credit. The municipal revolving line of credit was renewed to June 30, 2010. On July 1, 2008, the County entered into a $4,177,256 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, 2009. The letter of credit was reserved against the municipal revolving line of credit. During fiscal year 2009, the letter of credit had not been drawn upon. The irrevocable standby letter of credit was renewed to July 1, 2010, for $5,325,903. 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. 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 4 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan 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. 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. 5 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan The following table represents the County’s outstanding general obligation indebtedness with respect to its constitutional general obligation debt limitation. 2008-09 Constitutional General Obligation Bonding Capacity Maricopa County, Arizona 2008-09 Secondary Assessed Valuation 15% of Secondary Assessed Valuation Less: GO Bonded Debt Outstanding Plus: GO Debt Service Fund Balance Unused Fifteen Percent Borrowing Capacity $ 58,303,635,287 $ 8,745,545,293 8,745,545,293 Debt Per Capita Debt per capita measures the amount of debt outstanding for each citizen in a government’s jurisdiction. Debt per capita is calculated by dividing the County’s total outstanding debt by the population of the County. This calculation is used as a comparative benchmark to other counties. In addition, credit rating agencies calculate debt per capita when evaluating a County’s ability to repay its debt obligations. The following chart illustrates the five-year debt per capita for County. Debt Per Capita Maricopa County As of June 30, 2009 6 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan 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. Examples of the rating systems are: RATING AGENCIES BOND RATINGS Explanation of corporate/municipal bond ratings 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. 7 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan History of Debt Rating The County’s most recent bond rating was on April 30, 2009, when Maricopa County received affirmation on its issuer credit rating for general obligation bonds of Aa1 as well as a bond rating of Aa2 on its lease revenue bonds from Moody’s Investor Service. Also affirmed is the County’s bond rating of Aa3 on its Certificates of Participation, Series 2000, from Moody’s Investor Service. Moody’s Investor Service Press Release dated April 30, 2009, states that the bond rating reflects Maricopa County’s “strong financial position resulting from conservative management practices, a favorable direct debt profile, and one of the largest tax bases for a large, urban county in the United States.” On August 21, 2007, 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 2007B 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 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 can be viewed on the Department of Finance’s webpage at the following location: http://www.maricopa.gov/Finance 8 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan 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(2) 4/25/07 Aa1(1) 4/30/09 AAA(2) 8/21/07 AA+ 11/11/03 Aa1(2) 4/26/07 A+ 4/11/97 AA 12/4/01 Aa3 12/6/01 A 5/27/94 AA 4/5/00 Aa3 5/26/00 AA 6/2/76 A-1 11/6/98 A-2 3/17/97 A 6/13/94 Aa 7/26/93 Aa-1 8/21/81 AAA (3) Aaa (4) AAA (4) (1) Bond rating is “Affirmed Implied” (2) Bond rating is “Implied” (3) Bonds are insured, underlying rating. (4) 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. 9 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan DIRECT AND OVERALL NET DEBT MARICOPA COUNTY, ARIZONA Audited 6/30/08 GOVERNMENTAL ACTIVITES Lease Revenue Bonds (5) Lease Trust Certificates Certificates of Participation (5) Capital Leases Direct Net Debt Overlapping Debt (1) Overall Net Debt Population Estimate (2) Full Value of Taxable Property (3) Audited 6/30/09 Projected 6/30/10 Projected 6/30/11 $ 173,670,000 $ 163,900,000 $ 153,285,000 $ 142,140,000 4,612,000 0 0 0 4,295,000 3,850,000 3,385,000 2,895,000 50,093,644 51,135,339 27,358,339 8,613,372 $ 232,670,644 $ 218,885,339 $ 184,028,338 $ 153,648,372 7,667,484,231 7,904,280,982 8,037,224,035 8,179,988,993 $ 7,900,154,875 $ 8,123,166,321 $ 8,221,252,373 $ 8,333,637,365 $ 3,987,942 431,682,163 $ 4,023,331 516,184,657 $ 4,217,427 444,366,534 $ 4,328,379 363,787,640 Direct Net Debt Per Capita $ 58.34 $ 54.40 $ 43.64 $ 35.50 Overall Net Debt Per Capita $ 1,981.01 $ 2,019.02 $ 1,949.35 $ 1,925.35 Ratios (4) Direct Net Debt As Percentage Of Full Value Property Overall Net Debt As % Of FV Property FV Property Per Capita $ 0.054% 0.042% 0.041% 1.83% 1.57% 1.85% 108,246.85 $ 128,297.84 $ 105,364.37 $ 0.042% 2.29% 84,047.09 Notes: (1) Projected overlapping debt for 2010 and 2011 was based on a three year average increase for general obligation Bonds: Cities, Towns, School Districts and Special Assessment Districts. Source: www.azdor.gov/ReportsResearch/ReportofBondedIndebtedness.aspx (2) Projections for 2009, 2010 and 2011 are based on estimates provided by the Department of Economic Security. Source: www.workforce.az.gov (3) Full Cash Value Taxable Property Estimates: 2010 and 2011 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 (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. 10 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan The following chart illustrates the current allocation of outstanding Maricopa County debt and other obligations. Composition of Outstanding Debt Maricopa County As of June 30, 2009 2% 23% 75% Lease Revenue Bonds Capital Leases Certificates of Participation 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 general obligation 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, 2009, the County had no outstanding general obligation debt, (0.00% of taxable property), while the 6 percent limit was $3,498,218,117 and the 15 percent limit was $8,745,545,293. 11 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan The following is a recap of the County’s general obligation bonds for the past ten year: Year Ending June 30 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 General Obligation $ 99,910,000 79,595,000 58,370,000 39,515,000 20,165,000 - 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. 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 12 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan 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. SUMMARY OF LEASE REVENUE BOND PRINCIPAL AMOUNTS OUTSTANDING BY ISSUE As of June 30, 2009 Bond Issue 2001 Lease Revenue Bonds 2003 Lease Revenue Refunding Bonds 2007A Lease Revenue Bonds 2007B Lease Revenue Refunding Bonds Total Amount 21,175,000 3,870,000 106,015,000 32,840,000 $ 163,900,000 $ DEBT SERVICE REQUIREMENTS TO MATURITY Lease Revenue Bonds Maricopa County, Arizona As of June 30, 2009 Governmental Activities Year Ending June 30 2010 2011 2012 2013 2014 2015-19 2020-24 2025-29 2030-32 Total Principal $ 10,615,000 11,145,000 10,585,000 11,205,000 11,375,000 35,855,000 23,160,000 29,195,000 20,765,000 $ 163,900,000 Interest $ 7,148,079 6,630,595 6,103,790 5,602,040 5,118,505 18,997,075 13,363,625 7,175,463 1,106,787 $ 71,245,959 13 Total Debt Service $ 17,763,079 17,775,595 16,688,790 16,807,040 16,493,505 54,852,075 36,523,625 36,370,463 21,871,787 $ 235,145,959 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan DEBT SERVICE REQUIREMENTS Lease Revenue Bonds Interest Principal $20,000,000 $15,000,000 $10,000,000 2032 2030 2028 2026 2024 2022 2020 2018 2016 2014 2012 $0 2010 $5,000,000 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, 2009 Year Ending June 30 2010 2011 2012 2013 2014 2015-16 Total Principal $ 1,526,943 1,603,528 1,075,113 1,132,999 1,197,388 2,597,051 $ 9,133,022 $ $ Interest 435,430 363,562 297,639 237,723 174,162 143,079 1,651,595 Total Debt Service $ 1,962,373 1,967,090 1,372,752 1,370,722 1,371,550 2,740,130 $ 10,784,617 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 Chase Field, 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. 14 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan 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. Fifteen major league baseball teams hold spring training in Arizona as part of the Cactus League: Los Angeles Angels of Anaheim, Chicago Cubs, Colorado Rockies, Milwaukee Brewers, Oakland Athletics, San Diego Padres, San Francisco Giants, Seattle Mariners, Chicago White Sox, Texas Rangers, Kansas City Royals, Los Angeles Dodgers, Cleveland Indians, Cincinnati Reds and Arizona Diamondbacks. 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, 2009 Bond Issue Total Stadium District Revenue Bonds, Series 2002 $ Amount 41,165,000 DEBT SERVICE REQUIREMENTS TO MATURITY Stadium District Revenue Bonds Maricopa County, Arizona As of June 30, 2009 Year Ending June 30 2010 2011 2012 2013 2014 2015–19 Total $ $ Principal 3,260,000 3,390,000 3,570,000 3,760,000 3,960,000 23,225,000 41,165,000 Interest $ 2,159,094 2,028,694 1,850,719 1,663,294 1,461,194 3,875,913 $ 13,038,908 15 Total Debt Service $ 5,419,094 5,418,694 5,420,719 5,423,294 5,421,194 27,100,913 $ 54,203,908 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 Principal 2010 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 Stadium District Loans Payable 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. On September 10, 2007, the Stadium District entered into a cost-sharing agreement with the Team for the purchase of a video board and related equipment. Under the terms of the agreement, the Team provided $8,273,928 of the funding for the purchase; and the agreement states that the Stadium District will pay the Team back over ten years, beginning December 2009 and ending in December 2018. On October 12, 2007, the Stadium District entered into a cost-sharing agreement with the Team for phase II of the suite renovations at Chase Field. Under the terms of the agreement, the Team provided $1,832,928 of the funding for the renovations; and the agreement states that the Stadium District will pay the Team back over ten years, beginning December 2011 and ending in December 2020. 16 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, 2009 Year Ending June 30 2010 2011 2012 2013 2014 2015-19 2020-21 Total $ $ Principal 1,179,240 1,179,241 1,200,000 1,200,000 1,200,000 4,273,928 232,929 10,465,338 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 of Supervisors 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 semi-annual 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. 17 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan SUMMARY OF PRINCIPAL AMOUNT OUTSTANDING BY ISSUE As of June 30, 2009 Bond Issue Queen Creek Water Marquerite Drive 7th Street North Plymouth Street Total Amount $ 19,944 3,212 24,466 145,969 $ 193,591 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, 2009. 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, 2009 Certificate of Participation Issues Total Certificates of Participation, Series 2000 18 $ Amount 3,850,000 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, 2009 Governmental Activities Year Ending June 30 2010 2011 2012 2013 2014 2015 – 16 Total Principal $ 465,000 490,000 520,000 545,000 575,000 1,255,000 $ 3,850,000 $ $ Interest 189,759 $ 166,000 140,490 113,060 83,653 69,683 762,645 $ Total Debt Service 654,759 656,000 660,490 658,060 658,653 1,324,683 4,612,645 DEBT SERVICE REQUIREMENTS Certificates of Participation Interest Principal $800,000 $600,000 $400,000 2016 2015 2014 2013 2012 2011 $0 2010 $200,000 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, 2009. 19 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan Capital Leases Governmental Activities Maricopa County, Arizona Fiscal Year Ending June 30, 2009 2010 2011 2012 2013 2014 2015-17 Total minimum lease payments Less: Amount representing interest Present value of net minimum lease payments 20 $ $ 25,034,201 19,331,785 8,317,467 365,791 27,943 74,515 53,151,702 (2,016,363) 51,135,339 Maricopa County, Arizona Department of Finance Debt Management Division DEBT POLICIES 21 Maricopa County, Arizona Department of Finance Debt Management Division 22 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 can be easily changed at last minute and the issuer has influence over the underwriter selection and bond distribution. 23 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan 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 has established a system of record keeping and reporting to meet the arbitrage rebate compliance requirements of the federal tax code. This includes 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. Arbitrage rebate liabilities are calculated annually and the liability is reported in the County’s annual financial statements and note disclosures if applicable. Additionally, general financial reporting and certification requirements embodied in bond covenants are monitored to ensure that all covenants are met. The County structures it’s 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. 24 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 are available through the following recognized municipal repository: Electronic Municipal Market Access (“EMMA”) c/o Municipal Securities Rulemaking Board 1900 Duke Street, Suite 600 Alexandria, VA 22314 Phone: (703) 797-6600 Fax: (703) 797-6700 http://www.dataport.emma.msrb.org Email: emmaonline@msrb.org The Securities and Exchange Commission released final “continuing disclosure” rules (the “Rules”) for municipal bond issues on July 1, 2009, (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 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. 25 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan 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. 26 Maricopa County, Arizona Department of Finance Debt Management Division INDIVIDUAL DEBT SERVICE SCHEDULES 27 Maricopa County, Arizona Department of Finance Debt Management Division 28 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan INDIVIDUAL DEBT SERVICE SCHEDULES LEASE REVENUE BONDS STADIUM DISTRICT CERTIFICATES OF PARTICIPATION SPECIAL ASSESSMENT CAPITAL LEASES 29 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan MARICOPA COUNTY, ARIZONA TOTAL LEASE REVENUE BONDS LEASE REVENUE BONDS REDEMPTION SCHEDULE DATE 7/1/2009 1/1/2010 7/1/2010 1/1/2011 7/1/2011 1/1/2012 7/1/2012 1/1/2013 7/1/2013 1/1/2014 7/1/2014 1/1/2015 7/1/2015 1/1/2016 7/1/2016 1/1/2017 7/1/2017 1/1/2018 7/1/2018 1/1/2019 7/1/2019 1/1/2020 7/1/2020 1/1/2021 7/1/2021 1/1/2022 7/1/2022 1/1/2023 7/1/2023 1/1/2024 7/1/2024 1/1/2025 7/1/2025 1/1/2026 7/1/2026 1/1/2027 7/1/2027 1/1/2028 7/1/2028 1/1/2029 7/1/2029 1/1/2030 7/1/2030 1/1/2031 7/1/2031 1/1/2032 PRINCIPAL INTEREST PERIOD TOTAL FISCAL TOTAL $ 10,615,000.00 11,145,000.00 10,585,000.00 11,205,000.00 11,375,000.00 11,840,000.00 12,470,000.00 3,660,000.00 3,845,000.00 4,040,000.00 4,240,000.00 4,410,000.00 4,630,000.00 4,820,000.00 5,060,000.00 5,315,000.00 5,580,000.00 5,830,000.00 6,090,000.00 6,380,000.00 6,685,000.00 6,920,000.00 7,160,000.00 - $ 3,700,148.75 3,447,930.00 3,447,930.00 3,182,665.00 3,182,665.00 2,921,125.00 2,921,125.00 2,680,915.00 2,680,915.00 2,437,590.00 2,437,590.00 2,141,590.00 2,141,590.00 1,874,740.00 1,874,740.00 1,783,240.00 1,783,240.00 1,687,115.00 1,687,115.00 1,586,115.00 1,586,115.00 1,501,315.00 1,501,315.00 1,391,065.00 1,391,065.00 1,296,150.00 1,296,150.00 1,175,650.00 1,175,650.00 1,049,150.00 1,049,150.00 916,275.00 916,275.00 790,725.00 790,725.00 659,550.00 659,550.00 514,912.50 514,912.50 363,387.50 363,387.50 246,400.00 246,400.00 125,300.00 125,300.00 - $ 14,315,148.75 3,447,930.00 14,592,930.00 3,182,665.00 13,767,665.00 2,921,125.00 14,126,125.00 2,680,915.00 14,055,915.00 2,437,590.00 14,277,590.00 2,141,590.00 14,611,590.00 1,874,740.00 5,534,740.00 1,783,240.00 5,628,240.00 1,687,115.00 5,727,115.00 1,586,115.00 5,826,115.00 1,501,315.00 5,911,315.00 1,391,065.00 6,021,065.00 1,296,150.00 6,116,150.00 1,175,650.00 6,235,650.00 1,049,150.00 6,364,150.00 916,275.00 6,496,275.00 790,725.00 6,620,725.00 659,550.00 6,749,550.00 514,912.50 6,894,912.50 363,387.50 7,048,387.50 246,400.00 7,166,400.00 125,300.00 7,285,300.00 - $ $ 163,900,000.00 $ 71,245,958.75 $ 235,145,958.75 $ 235,145,958.75 30 17,763,078.75 17,775,595.00 16,688,790.00 16,807,040.00 16,493,505.00 16,419,180.00 16,486,330.00 7,317,980.00 7,315,355.00 7,313,230.00 7,327,430.00 7,302,380.00 7,317,215.00 7,291,800.00 7,284,800.00 7,280,425.00 7,287,000.00 7,280,275.00 7,264,462.50 7,258,300.00 7,294,787.50 7,291,700.00 7,285,300.00 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 DATE 7/1/2009 PRINCIPAL $ 1/1/2010 INTEREST 6,435,000.00 $ - 7/1/2010 6,810,000.00 1/1/2011 - 7/1/2011 7,190,000.00 1/1/2012 - 7/1/2012 740,000.00 1/1/2013 $ 21,175,000.00 PERIOD TOTAL 573,221.25 $ 398,977.50 398,977.50 398,977.50 7,208,977.50 212,662.50 212,662.50 212,662.50 7,402,662.50 16,835.00 16,835.00 16,835.00 756,835.00 $ 7,008,221.25 1,830,171.25 31 FISCAL TOTAL $ 7,421,640.00 7,419,497.50 - $ 23,005,171.25 7,407,198.75 756,835.00 $ 23,005,171.25 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 DATE 7/1/2009 PRINCIPAL $ 1/1/2010 INTEREST 1,500,000.00 $ - 7/1/2010 1,550,000.00 1/1/2011 - 7/1/2011 500,000.00 1/1/2012 - 7/1/2012 320,000.00 1/1/2013 $ 3,870,000.00 PERIOD TOTAL 60,837.50 $ 36,462.50 36,462.50 1,586,462.50 13,212.50 13,212.50 13,212.50 513,212.50 5,400.00 5,400.00 5,400.00 325,400.00 $ 1,560,837.50 36,462.50 170,987.50 32 FISCAL TOTAL $ 1,599,675.00 518,612.50 - $ 4,040,987.50 1,597,300.00 325,400.00 $ 4,040,987.50 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 7/1/2009 1/1/2010 7/1/2010 1/1/2011 7/1/2011 1/1/2012 7/1/2012 1/1/2013 7/1/2013 1/1/2014 7/1/2014 1/1/2015 7/1/2015 1/1/2016 7/1/2016 1/1/2017 7/1/2017 1/1/2018 7/1/2018 1/1/2019 7/1/2019 1/1/2020 7/1/2020 1/1/2021 7/1/2021 1/1/2022 7/1/2022 1/1/2023 7/1/2023 1/1/2024 7/1/2024 1/1/2025 7/1/2025 1/1/2026 7/1/2026 1/1/2027 7/1/2027 1/1/2028 7/1/2028 1/1/2029 7/1/2029 1/1/2030 7/1/2030 1/1/2031 7/1/2031 1/1/2032 $ $ PRINCIPAL 2,680,000.00 2,785,000.00 2,895,000.00 3,015,000.00 3,165,000.00 3,320,000.00 3,490,000.00 3,660,000.00 3,845,000.00 4,040,000.00 4,240,000.00 4,410,000.00 4,630,000.00 4,820,000.00 5,060,000.00 5,315,000.00 5,580,000.00 5,830,000.00 6,090,000.00 6,380,000.00 6,685,000.00 6,920,000.00 7,160,000.00 106,015,000.00 $ $ INTEREST 2,366,690.00 2,313,090.00 2,313,090.00 2,257,390.00 2,257,390.00 2,199,490.00 2,199,490.00 2,124,115.00 2,124,115.00 2,044,990.00 2,044,990.00 1,961,990.00 1,961,990.00 1,874,740.00 1,874,740.00 1,783,240.00 1,783,240.00 1,687,115.00 1,687,115.00 1,586,115.00 1,586,115.00 1,501,315.00 1,501,315.00 1,391,065.00 1,391,065.00 1,296,150.00 1,296,150.00 1,175,650.00 1,175,650.00 1,049,150.00 1,049,150.00 916,275.00 916,275.00 790,725.00 790,725.00 659,550.00 659,550.00 514,912.50 514,912.50 363,387.50 363,387.50 246,400.00 246,400.00 125,300.00 125,300.00 62,091,000.00 33 PERIOD TOTAL 5,046,690.00 2,313,090.00 5,098,090.00 2,257,390.00 5,152,390.00 2,199,490.00 5,214,490.00 2,124,115.00 5,289,115.00 2,044,990.00 5,364,990.00 1,961,990.00 5,451,990.00 1,874,740.00 5,534,740.00 1,783,240.00 5,628,240.00 1,687,115.00 5,727,115.00 1,586,115.00 5,826,115.00 1,501,315.00 5,911,315.00 1,391,065.00 6,021,065.00 1,296,150.00 6,116,150.00 1,175,650.00 6,235,650.00 1,049,150.00 6,364,150.00 916,275.00 6,496,275.00 790,725.00 6,620,725.00 659,550.00 6,749,550.00 514,912.50 6,894,912.50 363,387.50 7,048,387.50 246,400.00 7,166,400.00 125,300.00 7,285,300.00 $ 168,106,000.00 $ FISCAL TOTAL 7,359,780.00 7,355,480.00 7,351,880.00 7,338,605.00 7,334,105.00 7,326,980.00 7,326,730.00 7,317,980.00 7,315,355.00 7,313,230.00 7,327,430.00 7,302,380.00 7,317,215.00 7,291,800.00 7,284,800.00 7,280,425.00 7,287,000.00 7,280,275.00 7,264,462.50 7,258,300.00 7,294,787.50 7,291,700.00 7,285,300.00 $ 168,106,000.00 $ 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 DATE 7/1/2009 PRINCIPAL $ INTEREST - $ PERIOD TOTAL 699,400.00 $ 699,400.00 1/1/2010 - 699,400.00 699,400.00 7/1/2010 - 699,400.00 699,400.00 1/1/2011 - 699,400.00 699,400.00 7/1/2011 - 699,400.00 699,400.00 1/1/2012 - 699,400.00 699,400.00 699,400.00 7,829,400.00 556,800.00 556,800.00 556,800.00 8,766,800.00 392,600.00 392,600.00 392,600.00 8,912,600.00 179,600.00 179,600.00 179,600.00 9,159,600.00 7/1/2012 7,130,000.00 1/1/2013 - 7/1/2013 8,210,000.00 1/1/2014 - 7/1/2014 8,520,000.00 1/1/2015 - 7/1/2015 8,980,000.00 1/1/2016 $ 32,840,000.00 $ 7,153,800.00 34 FISCAL TOTAL $ 1,398,800.00 1,398,800.00 8,386,200.00 9,159,400.00 9,092,200.00 - $ 39,993,800.00 1,398,800.00 9,159,600.00 $ 39,993,800.00 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 12/1/2009 PRINCIPAL $ 6/1/2010 INTEREST - $ 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 41,165,000.00 $ PERIOD TOTAL 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 13,038,906.36 5,283,271.88 54,203,906.36 35 $ FISCAL TOTAL $ 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 54,203,906.36 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 7/1/2009 PRINCIPAL $ 1/1/2010 7/1/2010 INTEREST 465,000.00 $ - 520,000.00 1/1/2012 - 7/1/2012 545,000.00 1/1/2013 - 7/1/2013 575,000.00 1/1/2014 - 7/1/2014 610,000.00 1/1/2015 - 565,633.75 76,875.00 76,875.00 76,875.00 596,875.00 656,000.00 - 63,615.00 63,615.00 63,615.00 608,615.00 49,445.00 49,445.00 49,445.00 624,445.00 660,490.00 658,060.00 - 34,207.50 34,207.50 34,207.50 644,207.50 658,652.50 - 17,737.50 17,737.50 661,945.00 645,000.00 17,737.50 662,737.50 1/1/2016 3,850,000.00 762,643.75 4,612,643.75 $ 654,758.75 - 7/1/2015 $ FISCAL TOTAL $ 89,125.00 579,125.00 89,125.00 - 7/1/2011 $ 89,125.00 490,000.00 1/1/2011 PERIOD TOTAL 100,633.75 36 $ $ 662,737.50 4,612,643.75 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 7/1/2009 PRINCIPAL $ 16,812.88 INTEREST $ 10,756.70 PERIOD TOTAL $ 27,569.58 1/1/2010 2,335.70 6,810.19 9,145.89 7/1/2010 16,812.88 6,716.76 23,529.64 1/1/2011 4,112.77 6,078.87 10,191.64 7/1/2011 20,024.89 5,914.36 25,939.25 1/1/2012 6,005.86 5,131.93 11,137.79 7/1/2012 16,812.88 4,891.70 21,704.58 1/1/2013 6,005.86 4,253.81 10,259.67 7/1/2013 16,812.88 4,013.57 20,826.45 1/1/2014 6,005.92 3,375.68 9,381.60 7/1/2014 16,812.88 3,135.45 19,948.33 2,497.56 2,497.56 2,497.56 19,310.44 1,859.67 1,859.67 1,859.67 18,672.60 1,221.77 1,221.77 1,221.77 18,034.84 1/1/2015 - 7/1/2015 16,812.88 1/1/2016 - 7/1/2016 16,812.93 1/1/2017 - 7/1/2017 16,813.07 1/1/2018 - 7/1/2018 14,596.97 $ 193,591.25 $ 583.88 583.88 583.88 15,180.85 73,404.77 37 $ 266,996.02 FISCAL TOTAL $ 36,715.47 33,721.29 37,077.04 31,964.24 30,208.05 22,445.88 21,170.10 19,894.37 18,618.72 15,180.85 $ 266,996.02 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 07/01/09 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 07/01/14 01/01/15 07/01/15 01/01/16 07/01/16 01/01/17 07/01/17 01/01/18 PRINCIPAL $ 2,216.00 2,216.00 2,216.00 2,216.00 2,216.00 2,216.00 2,216.00 2,216.05 2,216.19 $ 19,944.24 INTEREST $ 486.14 432.13 432.13 378.11 378.11 324.10 324.10 270.08 270.08 216.07 216.07 162.05 162.05 108.04 108.04 54.02 54.02 $ 4,375.31 38 PERIOD TOTAL $ 2,702.14 432.13 2,648.13 378.11 2,594.11 324.10 2,540.10 270.08 2,486.08 216.07 2,432.07 162.05 2,378.05 108.04 2,324.09 54.02 2,270.21 $ 24,319.55 FISCAL TOTAL $ 3,134.27 3,026.24 2,918.21 2,810.18 2,702.15 2,594.12 2,486.09 2,378.11 2,270.21 $ 24,319.55 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $60,670 MARICOPA COUNTY, ARIZONA Marquerite Drive K-100 SPECIAL ASSESSMENT BOND REDEMPTION SCHEDULE 9.000% DATE 07/01/09 01/01/10 07/01/10 01/01/11 07/01/11 01/01/12 PRINCIPAL $ $ 3,212.01 - INTEREST $ 144.54 144.54 144.54 144.54 144.54 - 3,212.01 $ 722.70 39 PERIOD TOTAL $ 144.54 144.54 144.54 144.54 3,356.55 $ 3,934.71 FISCAL TOTAL $ 289.08 289.08 3,356.55 $ 3,934.71 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $60,059 MARICOPA COUNTY, ARIZONA 7th Street North Improvement K-106 BOND REDEMPTION SCHEDULE 9.000% DATE 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 $ 2,335.70 4,112.77 6,005.86 6,005.86 6,005.92 INTEREST $ 978.64 978.64 885.22 885.22 720.71 720.71 480.47 480.47 240.24 240.24 $ $ 24,466.11 6,610.55 40 PERIOD TOTAL $ 978.64 3,314.34 885.22 4,997.99 720.71 6,726.57 480.47 6,486.33 240.24 6,246.16 $ 31,076.66 FISCAL TOTAL $ 4,292.99 5,883.20 7,447.27 6,966.80 6,486.39 $ 31,076.66 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan $145,969 MARICOPA COUNTY, ARIZONA Plymouth Street K-109 BOND REDEMPTION SCHEDULE 8.000% DATE 7/1/2009 PRINCIPAL $ 16,812.88 INTEREST $ 10,756.70 PERIOD TOTAL $ 27,569.58 1/1/2010 2,335.70 6,810.19 9,145.89 7/1/2010 16,812.88 6,716.76 23,529.64 1/1/2011 4,112.77 6,078.87 10,191.64 7/1/2011 20,024.89 5,914.36 25,939.25 1/1/2012 6,005.86 5,131.93 11,137.79 7/1/2012 16,812.88 4,891.70 21,704.58 1/1/2013 6,005.86 4,253.81 10,259.67 7/1/2013 16,812.88 4,013.57 20,826.45 1/1/2014 6,005.92 3,375.68 9,381.60 7/1/2014 16,812.88 3,135.45 19,948.33 2,497.56 2,497.56 2,497.56 19,310.44 1,859.67 1,859.67 1,859.67 18,672.60 1,221.77 1,221.77 1,221.77 18,034.84 583.88 583.88 1/1/2015 - 7/1/2015 16,812.88 1/1/2016 - 7/1/2016 16,812.93 1/1/2017 - 7/1/2017 16,813.07 1/1/2018 - 7/1/2018 14,596.97 $ 193,591.25 583.88 $ 73,404.77 41 FISCAL TOTAL $ 33,721.29 37,077.04 31,964.24 30,208.05 22,445.88 21,170.10 19,894.37 18,618.72 15,180.85 $ 266,996.02 36,715.47 15,180.85 $ 266,996.02 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan MARICOPA COUNTY, ARIZONA CALCULATED TOTAL OF ALL CAPITAL LEASES Principa l a nd Inte re st GOVERNMENTAL ACTIVIES De pa rtm e nt: Tria l Courts Se curity Equipm e nt Purpose : FY 09-10 $ 18,130.06 FY 10-11 FY 11-12 FY 12-13 FY 13-14 FY 14-15 FY 15-16 FY 16-17 $ 18,130.06 She riff Ra dio Equipm e nt $ 1,622,570.27 1,622,570.28 1,071,401.98 324,089.15 $ 4,640,631.68 She riff Ta se r Equipm e nt $ 390,884.98 $ 390,884.98 She riff La ptop Equipm e nt $ 325,230.60 325,230.60 216,820.40 $ 867,281.60 Me dica l Ex a m ine r Equipm e nt $ 27,943.32 27,943.32 27,943.32 27,943.32 27,943.32 27,943.32 27,943.28 18,628.85 $ 214,232.05 OCIO Studio Equipm e nt $ 15,101.52 15,101.52 7,550.91 $ 37,753.95 Vote r Equipm e nt $ 1,357,710.44 1,357,710.36 339,427.59 $ 3,054,848.39 Va rious De pt Com pute r Equipm e nt $ 21,255,991.92 15,962,591.43 6,633,685.22 $ 43,852,268.57 Tota l Principa l Tota l Inte re st $ FY FY FY FY FY FY FY FY 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 $ 42 51,135,339.65 2,016,363.00 53,151,702.65 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 LOAN DATA Loan amount: $ Annual interest rate: Term in years: Payments per year: First payment due: 123,600.00 3.82000% 5 12 7/23/2005 PERIODIC PAYMENT Calculated payment: $ AMORTIZATION SCHEDULE Payment Beginning No. Date Balance Interest Principal 53 7/23/09 $ 17,874.30 $ 56.90 $ 2,209.36 $ 54 8/23/09 15,664.94 49.87 2,216.39 55 9/23/09 13,448.55 42.81 2,223.45 56 10/23/09 11,225.10 35.73 2,230.53 57 11/23/09 8,994.57 28.63 2,237.63 58 12/23/09 6,756.94 21.51 2,244.75 59 1/23/10 4,512.19 14.36 2,251.90 60 2/23/10 2,260.29 7.20 2,260.29 $ 257.01 $ 17,874.30 Outstanding as of June 30, 2009 Principal $ Total Interest Payment Total Debt Service Payable $ 2,266.26 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 15,664.94 $ 12,175.28 13,448.55 12,225.15 11,225.10 12,267.96 8,994.57 12,303.69 6,756.94 12,332.32 4,512.19 12,353.83 2,260.29 12,368.19 (0.00) 12,375.39 $ 17,874.30 $ 257.01 $ 18,131.31 17,874.30 257.01 18,131.31 43 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 LOAN DATA Loan amount: $ 2,292,262.83 Annual interest rate: 3.81000% Term in years: 5 Payments per year: 60 First payment due: 7/30/2006 PERIODIC PAYMENT Calculated payment: $ AMORTIZATION SCHEDULE Payment Beginning No. Date Balance Interest Principal 37 7/30/2009 $ 969,566.67 $ 3,081.28 $ 38,941.68 38 8/30/2009 930,624.99 2,957.52 39,065.44 39 9/30/2009 891,559.55 2,833.37 39,189.59 40 10/30/2009 852,369.96 2,708.83 39,314.13 41 11/30/2009 813,055.83 2,583.89 39,439.07 42 12/30/2009 773,616.76 2,458.55 39,564.41 43 1/30/2010 734,052.35 2,332.82 39,690.14 44 2/28/2010 694,362.21 2,206.68 39,816.28 45 3/30/2010 654,545.93 2,080.14 39,942.82 46 4/30/2010 614,603.11 1,953.21 40,069.75 47 5/30/2010 574,533.36 1,825.86 40,197.10 48 6/30/2010 534,336.26 1,698.12 40,324.84 49 7/30/2010 494,011.42 1,569.97 40,452.99 50 8/30/2010 453,558.43 1,441.41 40,581.55 51 9/30/2010 412,976.88 1,312.44 40,710.52 52 10/30/2010 372,266.36 1,183.06 40,839.90 53 11/30/2010 331,426.46 1,053.27 40,969.69 54 12/30/2010 290,456.77 923.07 41,099.89 55 1/30/2011 249,356.88 792.45 41,230.51 56 2/28/2011 208,126.37 661.42 41,361.54 57 3/30/2011 166,764.83 529.98 41,492.98 58 4/30/2011 125,271.85 398.11 41,624.85 59 5/30/2011 83,647.00 265.83 41,757.13 60 6/30/2011 41,889.87 133.09 41,889.87 $ 38,984.37 $ 969,566.67 $ 42,022.96 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 930,624.99 $ 193,211.68 891,559.55 196,169.20 852,369.96 199,002.57 813,055.83 201,711.40 773,616.76 204,295.29 734,052.35 206,753.84 694,362.21 209,086.66 654,545.93 211,293.34 614,603.11 213,373.48 574,533.36 215,326.69 534,336.26 217,152.55 494,011.42 218,850.67 $ 475,555.25 $ 28,720.27 $ 504,275.52 453,558.43 220,420.64 412,976.88 221,862.05 372,266.36 223,174.49 331,426.46 224,357.55 290,456.77 225,410.82 249,356.88 226,333.89 208,126.37 227,126.34 166,764.83 227,787.76 125,271.85 228,317.74 83,647.00 228,715.85 41,889.87 228,981.68 0.00 229,114.77 $ 494,011.42 $ 10,264.10 $ 504,275.52 Outstanding as of June 30, 2009 Principal $ 969,566.67 Total Interest Payment 38,984.37 Total Debt Service Payable $ 1,008,551.04 44 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 LOAN DATA Loan amount: $ 6,197,731.96 Annual interest rate: 3.64210% Term in years: 5 Payments per year: 60 First payment due: 10/20/2006 AMORTIZATION SCHEDULE Payment No. Date 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 PERIODIC PAYMENT Calculated payment: $ 113,142.53 Beginning Balance Interest Principal 2,928,765.95 $ 8,889.17 $ 104,253.36 $ 2,824,512.59 8,572.75 104,569.78 2,719,942.81 8,255.36 104,887.17 2,615,055.64 7,937.02 105,205.51 2,509,850.13 7,617.71 105,524.82 2,404,325.31 7,297.43 105,845.10 2,298,480.21 6,976.17 106,166.36 2,192,313.85 6,653.95 106,488.58 2,085,825.27 6,330.74 106,811.79 1,979,013.48 6,006.55 107,135.98 1,871,877.50 5,681.38 107,461.15 1,764,416.35 5,355.22 107,787.31 1,656,629.04 5,028.07 108,114.46 1,548,514.58 4,699.93 108,442.60 1,440,071.98 4,370.79 108,771.74 1,331,300.24 4,040.66 109,101.87 1,222,198.37 3,709.52 109,433.01 1,112,765.36 3,377.38 109,765.15 1,003,000.21 3,044.23 110,098.30 892,901.91 2,710.07 110,432.46 782,469.45 2,374.89 110,767.64 671,701.81 2,038.70 111,103.83 560,597.98 1,701.48 111,441.05 449,156.93 1,363.24 111,779.29 337,377.64 1,023.98 112,118.55 225,259.09 683.69 112,458.84 112,800.25 342.36 112,800.25 $ 126,082.44 $2,928,765.95 Fiscal Year Ended Ending Cumulative Balance Interest Principal Interest 2,824,512.59 $ 473,626.65 2,719,942.81 482,199.40 2,615,055.64 490,454.76 2,509,850.13 498,391.78 2,404,325.31 506,009.49 2,298,480.21 513,306.92 2,192,313.85 520,283.09 2,085,825.27 526,937.04 1,979,013.48 533,267.78 1,871,877.50 539,274.33 1,764,416.35 544,955.71 1,656,629.04 550,310.93 $ 1,272,136.91 $ 85,573.45 1,548,514.58 555,339.00 1,440,071.98 560,038.93 1,331,300.24 564,409.72 1,222,198.37 568,450.38 1,112,765.36 572,159.90 1,003,000.21 575,537.28 892,901.91 578,581.51 782,469.45 581,291.58 671,701.81 583,666.47 560,597.98 585,705.17 449,156.93 587,406.65 337,377.64 588,769.89 $ 1,319,251.40 $ 38,458.96 225,259.09 589,793.87 112,800.25 590,477.56 0.00 590,819.92 $ 337,377.64 $ 2,050.03 6/30 Total $ 1,357,710.36 $ 1,357,710.36 $ 339,427.67 Outstanding as of June 30, 2009 Principal $ 2,928,765.95 Total Interest Payment 126,082.44 Total Debt Service Payable $ 3,054,848.39 45 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#20 Computer Equipment 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 PERIODIC PAYMENT Calculated payment: $ AMORTIZATION SCHEDULE Payment Beginning No. Date Balance Interest Principal 30 7/20/2009 $ 191,121.95 $ 571.79 $ 27,059.14 31 8/20/2009 164,062.81 490.83 27,140.10 32 9/20/2009 136,922.71 409.64 27,221.29 33 10/20/2009 109,701.42 328.20 27,302.16 34 11/20/2009 82,399.26 246.52 27,384.41 35 12/20/2009 55,014.85 164.59 27,466.34 36 1/20/2010 27,548.51 82.42 27,548.51 $ 2,293.99 $ 191,121.95 $ 27,630.93 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 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 $ 191,121.95 $ 2,293.99 $ 193,415.94 Outstanding as of June 30, 2009 Principal $ 191,121.95 Total Interest Payment 2,293.99 Total Debt Service Payable $ 193,415.94 46 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: $ 1,659,771.61 Annual interest rate: 3.80700% Term in years: 3 Payments per year: 36 First payment due: 3/28/2007 PERIODIC PAYMENT Calculated payment: $ AMORTIZATION SCHEDULE Payment Beginning No. Date Balance Interest Principal 29 7/28/2009 $ 385,363.27 $ 1,222.53 $ 47,638.08 30 8/28/2009 337,725.19 1,071.40 47,789.21 31 9/28/2009 289,935.98 919.79 47,940.82 32 10/28/2009 241,995.16 767.71 48,092.90 33 11/28/2009 193,902.26 615.14 48,245.47 34 12/28/2009 145,656.79 462.08 48,398.53 35 1/28/2010 97,258.26 308.54 48,552.07 36 2/28/2010 48,706.19 154.52 48,706.19 $ 5,521.71 $ 385,363.27 $ 48,860.61 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 337,725.19 $ 94,911.27 289,935.98 95,982.67 241,995.16 96,902.46 193,902.26 97,670.17 145,656.79 98,285.31 97,258.26 98,747.39 48,706.19 99,055.93 (0.00) 99,210.45 $ 385,363.27 $ 5,521.71 $ 390,884.98 Outstanding as of June 30, 2009 Principal $ 385,363.27 Total Interest Payment 5,521.71 Total Debt Service Payable $ 390,884.98 47 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#21 Computer Equipment LOAN DATA Loan amount: $ 1,178,779.79 Annual interest rate: 3.66860% Term in years: 3 Payments per year: 12 First payment due: 5/3/2007 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 27 7/3/2009 $ 340,535.21 28 8/3/2009 306,947.50 29 9/3/2009 273,257.11 30 10/3/2009 239,463.72 31 11/3/2009 205,567.02 32 12/3/2009 171,566.69 33 1/3/2010 137,462.42 34 2/3/2010 103,254.38 35 3/3/2010 68,941.26 36 4/3/2010 34,523.24 PERIODIC PAYMENT Calculated payment: $ Interest Principal $ 1,041.07 $ 33,587.71 938.39 33,690.39 835.39 33,793.39 732.08 33,896.70 628.45 34,000.33 524.51 34,104.27 420.25 34,208.04 315.67 34,313.12 210.76 34,418.02 105.54 34,523.24 $ 5,752.11 $ 340,535.21 $ Ending Balance 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 34,628.78 Fiscal Year Ended 6/30 Cumulative Interest Principal Interest Total $ 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 $ 340,535.21 $ 5,752.11 $ 346,287.32 Outstanding as of June 30, 2009 Principal $ 340,535.21 Total Interest Payment 5,752.11 Total Debt Service Payable $ 346,287.32 48 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: PERIODIC PAYMENT Calculated payment: $ 415,641.71 4.07230% 3 12 5/3/2007 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 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 Interest Principal 409.20 $ 11,875.56 368.91 11,915.85 328.48 11,956.28 287.89 11,996.87 247.19 12,037.57 206.34 12,078.42 165.34 12,119.42 124.22 12,160.54 82.95 12,201.81 41.55 12,243.21 $ 2,262.07 $ 120,585.53 $ $ Ending Balance 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 Year Ended 6/30 Cumulative Interest Principal Interest Total $ 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 Outstanding as of June 30, 2009 Principal $ 120,585.53 Total Interest Payment 2,262.07 Total Debt Service Payable $ 122,847.60 49 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: $ 1,676,149.38 Annual interest rate: 3.81000% Term in years: 3 Payments per year: 12 First payment due: 6/27/2007 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 26 7/27/2009 $ 532,647.83 27 8/27/2009 484,991.05 28 9/27/2009 437,182.58 29 10/27/2009 389,221.94 30 11/27/2009 341,108.64 31 12/27/2009 292,842.20 32 1/27/2010 244,422.13 33 2/27/2010 195,847.94 34 3/27/2010 147,118.99 35 4/27/2010 98,235.09 36 5/27/2010 49,195.59 PERIODIC PAYMENT Calculated payment: $ Interest Principal $ 1,695.40 $ 47,656.78 1,543.71 47,808.47 1,391.54 47,960.64 1,238.88 48,113.30 1,085.74 48,266.44 932.11 48,420.07 777.99 48,574.19 623.38 48,728.95 468.28 48,883.90 312.68 49,039.50 156.59 49,195.59 $ 10,226.30 $ 532,647.83 $ Ending Balance 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 49,352.18 Fiscal Year Ended 6/30 Cumulative Interest Principal Interest Total $ 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 $ 532,647.83 $ 10,226.30 $ 542,874.13 Outstanding as of June 30, 2009 Principal $ 532,647.83 Total Interest Payment 10,226.30 Total Debt Service Payable $ 542,874.13 50 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: $ 4,911,404.59 Annual interest rate: 3.90200% Term in years: 3 Payments per year: 12 First payment due: 7/26/2007 AMORTIZATION SCHEDULE Payment No. Date 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: $ 144,790.82 Beginning Balance Interest Principal 1,701,313.10 $ 5,532.56 $ 139,258.26 $ 1,562,054.84 5,079.72 139,711.10 1,422,343.74 4,625.40 140,165.42 1,282,178.32 4,169.61 140,621.21 1,141,557.11 3,712.33 141,078.49 1,000,478.62 3,253.57 141,537.25 858,941.37 2,793.32 141,997.50 716,943.87 2,331.57 142,459.25 574,484.62 1,868.32 142,922.50 431,562.12 1,403.56 143,387.26 288,174.86 937.29 143,853.53 144,321.33 469.49 144,321.33 $ 36,176.74 $1,701,313.10 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 1,562,054.84 $ 270,420.75 1,422,343.74 275,500.47 1,282,178.32 280,125.87 1,141,557.11 284,295.48 1,000,478.62 288,007.81 858,941.37 291,261.38 716,943.87 294,054.70 574,484.62 296,386.27 431,562.12 298,254.59 288,174.86 299,658.15 144,321.33 300,595.44 301,064.93 $ 1,701,313.10 $ 36,176.74 $ 1,737,489.84 Outstanding as of June 30, 2009 Principal $ 1,701,313.10 Total Interest Payment 36,176.74 Total Debt Service Payable $ 1,737,489.84 51 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments Network Infrastructure Computer Equipment LOAN DATA Loan amount: $ 6,178,775.88 Annual interest rate: 3.97800% Term in years: 3 Payments per year: 12 First payment due: 7/26/2007 AMORTIZATION SCHEDULE Payment No. Date 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: $ 182,361.69 Beginning Balance Interest Principal 2,141,907.20 $ 7,100.47 $ 175,261.22 $ 1,966,645.98 6,519.47 175,842.22 1,790,803.76 5,936.55 176,425.14 1,614,378.62 5,351.70 177,009.99 1,437,368.63 4,764.91 177,596.78 1,259,771.85 4,176.17 178,185.52 1,081,586.33 3,585.48 178,776.21 902,810.12 2,992.84 179,368.85 723,441.27 2,398.23 179,963.46 543,477.81 1,801.64 180,560.05 362,917.76 1,203.08 181,158.61 181,759.15 602.54 181,759.15 $ 46,433.08 $2,141,907.20 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 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, 2009 Principal $ 2,141,907.20 Total Interest Payment 46,433.08 Total Debt Service Payable $ 2,188,340.28 52 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 LOAN DATA Loan amount: $ 2,560,303.91 Annual interest rate: 3.77540% Term in years: 5 Payments per year: 60 First payment due: 6/16/2007 AMORTIZATION SCHEDULE Payment No. Date 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 Beginning Balance Interest 1,551,804.26 $ 4,882.17 1,509,793.65 4,750.00 1,467,650.87 4,617.42 1,425,375.51 4,484.41 1,382,967.14 4,350.99 1,340,425.35 4,217.15 1,297,749.72 4,082.89 1,254,939.83 3,948.20 1,211,995.25 3,813.09 1,168,915.56 3,677.56 1,125,700.34 3,541.60 1,082,349.16 3,405.21 1,038,861.59 3,268.39 995,237.20 3,131.14 951,475.56 2,993.46 907,576.24 2,855.35 863,538.81 2,716.80 819,362.83 2,577.82 775,047.87 2,438.40 730,593.49 2,298.54 685,999.25 2,158.24 641,264.71 2,017.50 596,389.43 1,876.32 551,372.97 1,734.69 506,214.88 1,592.62 460,914.72 1,450.09 415,472.03 1,307.13 369,886.38 1,163.71 324,157.31 1,019.84 278,284.37 875.52 232,267.11 730.74 186,105.07 585.51 139,797.80 439.82 93,344.84 293.67 46,745.73 147.05 $ 89,443.04 PERIODIC PAYMENT Calculated payment: $ Principal 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 $1,551,804.26 $ 46,892.78 Fiscal Year Ended Ending Cumulative Balance Interest Principal Interest 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 $ 512,942.67 $ 49,770.69 995,237.20 216,858.93 951,475.56 219,990.07 907,576.24 222,983.53 863,538.81 225,838.88 819,362.83 228,555.68 775,047.87 231,133.50 730,593.49 233,571.90 685,999.25 235,870.44 641,264.71 238,028.68 596,389.43 240,046.18 551,372.97 241,922.50 506,214.88 243,657.19 $ 532,646.71 $ 30,066.65 460,914.72 245,249.81 415,472.03 246,699.90 369,886.38 248,007.03 324,157.31 249,170.74 278,284.37 250,190.58 232,267.11 251,066.10 186,105.07 251,796.84 139,797.80 252,382.35 93,344.84 252,822.17 46,745.73 253,115.84 (0.00) 253,262.89 $ 506,214.88 $ 9,605.70 6/30 Total $ 562,713.36 $ 562,713.36 $ 515,820.58 Outstanding as of June 30, 2009 Principal $ 1,551,804.26 Total Interest Payment 89,443.04 Total Debt Service Payable $ 1,641,247.30 53 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 3 Portable Radios LOAN DATA Loan amount: $ 2,551,965.89 Annual interest rate: 3.38900% Term in years: 5 Payments per year: 60 First payment due: 2/4/2008 AMORTIZATION SCHEDULE Payment No. Date 18 7/4/2009 $ 19 8/4/2009 20 9/4/2009 21 10/4/2009 22 11/4/2009 23 12/4/2009 24 1/4/2010 25 2/4/2010 26 3/4/2010 27 4/4/2010 28 5/4/2010 29 6/4/2010 30 7/4/2010 31 8/4/2010 32 9/4/2010 33 10/4/2010 34 11/4/2010 35 12/4/2010 36 1/4/2011 37 2/4/2011 38 3/4/2011 39 4/4/2011 40 5/4/2011 41 6/4/2011 42 7/4/2011 43 8/4/2011 44 9/4/2011 45 10/4/2011 46 11/4/2011 47 12/4/2011 48 1/4/2012 49 2/4/2012 50 3/4/2012 51 4/4/2012 52 5/4/2012 53 6/4/2012 54 7/4/2012 55 8/4/2012 56 9/4/2012 57 10/4/2012 58 11/4/2012 59 12/4/2012 60 1/4/2013 Beginning Balance Interest 1,872,196.60 $ 5,288.07 1,831,186.22 5,172.24 1,790,060.01 5,056.08 1,748,817.64 4,939.59 1,707,458.78 4,822.77 1,665,983.10 4,705.62 1,624,390.27 4,588.14 1,582,679.96 4,470.33 1,540,851.84 4,352.18 1,498,905.57 4,233.70 1,456,840.82 4,114.89 1,414,657.26 3,995.74 1,372,354.55 3,876.26 1,329,932.36 3,756.43 1,287,390.34 3,636.27 1,244,728.16 3,515.77 1,201,945.48 3,394.93 1,159,041.96 3,273.75 1,116,017.26 3,152.23 1,072,871.04 3,030.36 1,029,602.95 2,908.15 986,212.65 2,785.59 942,699.79 2,662.69 899,064.03 2,539.44 855,305.02 2,415.84 811,422.41 2,291.89 767,415.85 2,167.59 723,284.99 2,042.94 679,029.48 1,917.94 634,648.97 1,792.59 590,143.11 1,666.88 545,511.54 1,540.82 500,753.91 1,414.40 455,869.86 1,287.62 410,859.03 1,160.49 365,721.07 1,033.00 320,455.62 905.14 275,062.31 776.93 229,540.79 648.35 183,890.69 519.41 138,111.65 390.11 92,203.31 260.44 46,165.30 130.40 $ 118,634.00 PERIODIC PAYMENT Calculated payment: $ Principal 41,010.38 $ 41,126.21 41,242.37 41,358.86 41,475.68 41,592.83 41,710.31 41,828.12 41,946.27 42,064.75 42,183.56 42,302.71 42,422.19 42,542.02 42,662.18 42,782.68 42,903.52 43,024.70 43,146.22 43,268.09 43,390.30 43,512.86 43,635.76 43,759.01 43,882.61 44,006.56 44,130.86 44,255.51 44,380.51 44,505.86 44,631.57 44,757.63 44,884.05 45,010.83 45,137.96 45,265.45 45,393.31 45,521.52 45,650.10 45,779.04 45,908.34 46,038.01 46,165.30 $1,872,196.60 $ 46,892.78 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest 1,831,186.22 $ 112,592.43 1,790,060.01 117,764.67 1,748,817.64 122,820.75 1,707,458.78 127,760.34 1,665,983.10 132,583.11 1,624,390.27 137,288.73 1,582,679.96 141,876.87 1,540,851.84 146,347.20 1,498,905.57 150,699.38 1,456,840.82 154,933.08 1,414,657.26 159,047.97 1,372,354.55 163,043.71 $ 499,842.05 $ 55,739.35 $ 166,919.97 1,329,932.36 1,287,390.34 170,676.40 1,244,728.16 174,312.67 1,201,945.48 177,828.44 1,159,041.96 181,223.37 1,116,017.26 184,497.12 1,072,871.04 187,649.35 1,029,602.95 190,679.71 986,212.65 193,587.86 942,699.79 196,373.45 899,064.03 199,036.14 855,305.02 201,575.58 $ 517,049.53 $ 38,531.87 $ 811,422.41 203,991.42 767,415.85 206,283.31 723,284.99 208,450.90 679,029.48 210,493.84 634,648.97 212,411.78 590,143.11 214,204.37 545,511.54 215,871.25 500,753.91 217,412.07 455,869.86 218,826.47 410,859.03 220,114.09 365,721.07 221,274.58 320,455.62 222,307.58 $ 534,849.40 $ 20,732.00 $ 275,062.31 223,212.72 229,540.79 223,989.65 183,890.69 224,638.00 138,111.65 225,157.41 92,203.31 225,547.52 46,165.30 225,807.96 0.00 225,938.36 $ 320,455.62 $ 3,630.78 $ Total 555,581.40 555,581.40 555,581.40 324,086.40 Outstanding as of June 30, 2009 Principal $ 1,872,196.60 Total Interest Payment 118,634.00 Total Debt Service Payable $ 1,990,830.60 54 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Maricopa County Constables Constable Radios Portable Radios LOAN DATA Loan amount: $ Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 17 7/31/2009 $ 71,005.90 18 8/31/2009 69,490.24 19 9/30/2009 67,970.22 20 10/31/2009 66,445.83 21 11/30/2009 64,917.06 22 12/31/2009 63,383.90 23 1/31/2010 61,846.33 24 2/28/2010 60,304.34 25 3/31/2010 58,746.36 26 4/30/2010 57,195.46 27 5/31/2010 55,640.10 28 6/30/2010 54,080.27 29 7/31/2010 52,515.95 30 8/31/2010 50,947.13 31 9/30/2010 49,373.80 32 10/31/2010 47,795.95 33 11/30/2010 46,213.56 34 12/31/2010 44,626.62 35 1/31/2011 43,035.12 36 2/28/2011 41,439.05 37 3/31/2011 39,830.45 38 4/30/2011 38,225.16 39 5/31/2011 36,615.26 40 6/30/2011 35,000.73 41 7/31/2011 33,381.56 42 8/31/2011 31,757.73 43 9/30/2011 30,129.23 44 10/31/2011 28,496.05 45 11/30/2011 26,858.18 46 12/31/2011 25,215.60 47 1/31/2012 23,568.30 48 2/29/2012 21,916.26 49 3/31/2012 20,257.37 50 4/30/2012 18,595.81 51 5/31/2012 16,929.47 52 6/30/2012 15,258.34 53 7/31/2012 13,582.41 54 8/31/2012 11,901.66 55 9/30/2012 10,216.08 56 10/31/2012 8,525.65 57 11/30/2012 6,830.36 58 12/31/2012 5,130.20 59 1/31/2013 3,425.15 60 2/28/2013 1,715.20 Outstanding as of June 30, 2009 $ Principal Total Interest Payment Total Debt Service Payable $ PERIODIC PAYMENT Calculated payment: $ 94,706.53 3.45000% 5 60 3/31/2008 1,720.76 Fiscal Year Ended 6/30 Interest 204.14 199.78 195.41 191.03 186.64 182.23 177.81 161.82 168.90 164.44 159.97 155.48 150.98 146.47 141.95 137.41 132.86 128.30 123.73 111.20 114.51 109.90 105.27 100.63 95.97 91.30 86.62 81.93 77.22 72.50 67.76 60.91 58.24 53.46 48.67 43.87 39.05 34.22 29.37 24.51 19.64 14.75 9.85 4.60 $ 4,665.30 $ Principal 1,515.66 1,520.02 1,524.39 1,528.77 1,533.16 1,537.57 1,541.99 1,557.98 1,550.90 1,555.36 1,559.83 1,564.32 1,568.82 1,573.33 1,577.85 1,582.39 1,586.94 1,591.50 1,596.07 1,608.60 1,605.29 1,609.90 1,614.53 1,619.17 1,623.83 1,628.50 1,633.18 1,637.87 1,642.58 1,647.30 1,652.04 1,658.89 1,661.56 1,666.34 1,671.13 1,675.93 1,680.75 1,685.58 1,690.43 1,695.29 1,700.16 1,705.05 1,709.95 1,715.20 $ 71,005.90 $ $ Ending Cumulative Balance Interest 69,490.24 $ 4,020.31 67,970.22 4,220.09 66,445.83 4,415.50 64,917.06 4,606.53 63,383.90 4,793.17 61,846.33 4,975.40 60,304.34 5,153.21 58,746.36 5,315.03 57,195.46 5,483.93 55,640.10 5,648.37 54,080.27 5,808.34 52,515.95 5,963.82 6,114.80 50,947.13 49,373.80 6,261.27 47,795.95 6,403.22 46,213.56 6,540.63 44,626.62 6,673.49 43,035.12 6,801.79 41,439.05 6,925.52 39,830.45 7,036.72 38,225.16 7,151.23 36,615.26 7,261.13 35,000.73 7,366.40 33,381.56 7,467.03 31,757.73 7,563.00 30,129.23 7,654.30 28,496.05 7,740.92 26,858.18 7,822.85 25,215.60 7,900.07 23,568.30 7,972.57 21,916.26 8,040.33 20,257.37 8,101.24 18,595.81 8,159.48 16,929.47 8,212.94 15,258.34 8,261.61 13,582.41 8,305.48 11,901.66 8,344.53 10,216.08 8,378.75 8,525.65 8,408.12 6,830.36 8,432.63 5,130.20 8,452.27 3,425.15 8,467.02 1,715.20 8,476.87 (0.00) 8,481.47 Principal Interest Total $ 18,489.95 $ 2,147.65 $ 20,637.60 $ 19,134.39 $ 1,503.21 $ 20,637.60 $ 19,799.15 $ 838.45 $ 20,637.60 $ 13,582.41 $ 175.99 $ 13,758.40 71,005.90 4,665.30 75,671.20 55 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#24 Computer Equipment LOAN DATA Loan amount: $ 1,003,064.22 Annual interest rate: 2.57500% Term in years: 3 Payments per year: 12 First payment due: 4/1/2008 PERIODIC PAYMENT Calculated payment: $ AMORTIZATION SCHEDULE Payment Beginning No. Date Balance Interest Principal 16 7/1/2009 $ 594,504.39 $ 1,275.47 $ 27,707.14 17 8/1/2009 566,797.25 1,216.02 27,766.59 18 9/1/2009 539,030.66 1,156.45 27,826.16 19 10/1/2009 511,204.50 1,096.75 27,885.86 20 11/1/2009 483,318.64 1,036.92 27,945.69 21 12/1/2009 455,372.95 976.97 28,005.64 22 1/1/2010 427,367.31 916.89 28,065.72 23 2/1/2010 399,301.59 856.67 28,125.94 24 3/1/2010 371,175.65 796.33 28,186.28 25 4/1/2010 342,989.37 735.86 28,246.75 26 5/1/2010 314,742.62 675.26 28,307.35 27 6/1/2010 286,435.27 614.53 28,368.08 28 7/1/2010 258,067.19 553.66 28,428.95 29 8/1/2010 229,638.24 492.67 28,489.94 30 9/1/2010 201,148.30 431.55 28,551.06 31 10/1/2010 172,597.24 370.29 28,612.32 32 11/1/2010 143,984.92 308.91 28,673.70 33 12/1/2010 115,311.22 247.39 28,735.22 34 1/1/2011 86,576.00 185.74 28,796.87 35 2/1/2011 57,779.13 123.96 28,858.65 36 3/1/2011 28,920.48 62.05 28,920.48 $ 14,130.34 $ 594,504.39 $ Ending Balance 566,797.25 539,030.66 511,204.50 483,318.64 455,372.95 427,367.31 399,301.59 371,175.65 342,989.37 314,742.62 286,435.27 258,067.19 229,638.24 201,148.30 172,597.24 143,984.92 115,311.22 86,576.00 57,779.13 28,920.48 0.00 28,982.61 Fiscal Year Ended 6/30 Cumulative Interest Principal Interest Total $ 27,454.79 28,670.81 29,827.26 30,924.01 31,960.93 32,937.90 33,854.79 34,711.46 35,507.79 36,243.65 36,918.91 37,533.44 $ 336,437.20 $ 11,354.12 $ 347,791.32 38,087.10 38,579.77 39,011.32 39,381.61 39,690.52 39,937.91 40,123.65 40,247.61 40,309.66 $ 258,067.19 $ 2,776.22 $ 260,843.41 Outstanding as of June 30, 2009 Principal $ 594,504.39 Total Interest Payment 14,130.34 Total Debt Service Payable $ 608,634.73 56 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments Laptop Refresh Program 08-01 Computer Equipment LOAN DATA Loan amount: $ 1,302,731.66 Annual interest rate: 2.49900% Term in years: 3 Payments per year: 12 First payment due: 5/27/2008 PERIODIC PAYMENT Calculated payment: $ AMORTIZATION SCHEDULE Payment Beginning No. Date Balance Interest Principal 15 7/27/2009 $ 807,675.12 $ 1,682.19 $ 35,916.04 16 8/27/2009 771,759.08 1,607.39 35,990.84 17 9/27/2009 735,768.24 1,532.43 36,065.80 18 10/27/2009 699,702.44 1,457.31 36,140.92 19 11/27/2009 663,561.52 1,382.04 36,216.19 20 12/27/2009 627,345.33 1,306.61 36,291.62 21 1/27/2010 591,053.71 1,231.02 36,367.21 22 2/27/2010 554,686.50 1,155.28 36,442.95 23 3/27/2010 518,243.55 1,079.38 36,518.85 24 4/27/2010 481,724.70 1,003.32 36,594.91 25 5/27/2010 445,129.79 927.10 36,671.13 26 6/27/2010 408,458.66 850.72 36,747.51 27 7/27/2010 371,711.15 774.18 36,824.05 28 8/27/2010 334,887.10 697.49 36,900.74 29 9/27/2010 297,986.36 620.63 36,977.60 30 10/27/2010 261,008.76 543.62 37,054.61 31 11/27/2010 223,954.15 466.44 37,131.79 32 12/27/2010 186,822.36 389.11 37,209.12 33 1/27/2011 149,613.24 311.61 37,286.62 34 2/27/2011 112,326.62 233.95 37,364.28 35 3/27/2011 74,962.34 156.13 37,442.10 36 4/27/2011 37,520.24 78.18 37,520.24 $ 19,486.13 $ 807,675.12 $ Ending Balance 771,759.08 735,768.24 699,702.44 663,561.52 627,345.33 591,053.71 554,686.50 518,243.55 481,724.70 445,129.79 408,458.66 371,711.15 334,887.10 297,986.36 261,008.76 223,954.15 186,822.36 149,613.24 112,326.62 74,962.34 37,520.24 0.00 37,598.23 Fiscal Year Ended 6/30 Cumulative Interest Principal Interest Total $ 33,000.87 34,608.26 36,140.69 37,598.00 38,980.04 40,286.65 41,517.67 42,672.95 43,752.33 44,755.65 45,682.75 46,533.47 $ 435,963.97 $ 15,214.79 $ 451,178.76 47,307.65 48,005.14 48,625.77 49,169.39 49,635.83 50,024.94 50,336.55 50,570.50 50,726.63 50,804.81 $ 371,711.15 $ 4,271.34 $ 375,982.49 Outstanding as of June 30, 2009 Principal $ 807,675.12 Total Interest Payment 19,486.13 Total Debt Service Payable $ 827,161.25 57 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#25 Computer Equipment LOAN DATA Loan amount: $ 3,802,027.31 Annual interest rate: 2.78000% Term in years: 3 Payments per year: 12 First payment due: 7/25/2008 AMORTIZATION SCHEDULE Payment No. Date 13 7/25/2009 $ 14 8/25/2009 15 9/25/2009 16 10/25/2009 17 11/25/2009 18 12/25/2009 19 1/25/2010 20 2/25/2010 21 3/25/2010 22 4/25/2010 23 5/25/2010 24 6/25/2010 25 7/25/2010 26 8/25/2010 27 9/25/2010 28 10/25/2010 29 11/25/2010 30 12/25/2010 31 1/25/2011 32 2/25/2011 33 3/25/2011 34 4/25/2011 35 5/25/2011 36 6/25/2011 PERIODIC PAYMENT Calculated payment: $ 110,199.31 Beginning Balance Interest Principal 2,569,708.88 $ 5,953.16 $ 104,246.15 $ 2,465,462.73 5,711.66 104,487.65 2,360,975.08 5,469.59 104,729.72 2,256,245.36 5,226.97 104,972.34 2,151,273.02 4,983.78 105,215.53 2,046,057.49 4,740.03 105,459.28 1,940,598.21 4,495.72 105,703.59 1,834,894.62 4,250.84 105,948.47 1,728,946.15 4,005.39 106,193.92 1,622,752.23 3,759.38 106,439.93 1,516,312.30 3,512.79 106,686.52 1,409,625.78 3,265.63 106,933.68 1,302,692.10 3,017.90 107,181.41 1,195,510.69 2,769.60 107,429.71 1,088,080.98 2,520.72 107,678.59 980,402.39 2,271.27 107,928.04 872,474.35 2,021.23 108,178.08 764,296.27 1,770.62 108,428.69 655,867.58 1,519.43 108,679.88 547,187.70 1,267.65 108,931.66 438,256.04 1,015.29 109,184.02 329,072.02 762.35 109,436.96 219,635.06 508.82 109,690.49 109,944.57 254.70 109,944.57 $ 75,074.52 $2,569,708.88 Ending Balance 2,465,462.73 2,360,975.08 2,256,245.36 2,151,273.02 2,046,057.49 1,940,598.21 1,834,894.62 1,728,946.15 1,622,752.23 1,516,312.30 1,409,625.78 1,302,692.10 1,195,510.69 1,088,080.98 980,402.39 872,474.35 764,296.27 655,867.58 547,187.70 438,256.04 329,072.02 219,635.06 109,944.57 0.00 Fiscal Year Ended 6/30 Cumulative Interest Principal Interest Total $ 96,026.45 101,738.11 107,207.70 112,434.67 117,418.45 122,158.48 126,654.20 130,905.04 134,910.43 138,669.81 142,182.60 145,448.23 $ 1,267,016.78 $ 55,374.94 $ 1,322,391.72 148,466.13 151,235.73 153,756.45 156,027.72 158,048.95 159,819.57 161,339.00 162,606.65 163,621.94 164,384.29 164,893.11 165,147.81 $ 1,302,692.10 $ 19,699.58 $ 1,322,391.68 Outstanding as of June 30, 2009 Principal $ 2,569,708.88 Total Interest Payment 75,074.52 Total Debt Service Payable $ 2,644,783.40 58 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments Desktop Refresh Program 08-01 Computer Equipment LOAN DATA Loan amount: $ 7,025,865.82 Annual interest rate: 2.78000% Term in years: 3 Payments per year: 12 First payment due: 7/25/2008 AMORTIZATION SCHEDULE Payment No. Date 13 7/25/2009 $ 14 8/25/2009 15 9/25/2009 16 10/25/2009 17 11/25/2009 18 12/25/2009 19 1/25/2010 20 2/25/2010 21 3/25/2010 22 4/25/2010 23 5/25/2010 24 6/25/2010 25 7/25/2010 26 8/25/2010 27 9/25/2010 28 10/25/2010 29 11/25/2010 30 12/25/2010 31 1/25/2011 32 2/25/2011 33 3/25/2011 34 4/25/2011 35 5/25/2011 36 6/25/2011 Beginning Balance 4,748,632.35 4,555,993.16 4,362,907.69 4,169,374.90 3,975,393.76 3,780,963.23 3,586,082.27 3,390,749.84 3,194,964.89 2,998,726.37 2,802,033.23 2,604,884.42 2,407,278.88 2,209,215.55 2,010,693.38 1,811,711.30 1,612,268.24 1,412,363.14 1,211,994.92 1,011,162.52 809,864.86 608,100.86 405,869.44 203,169.51 PERIODIC PAYMENT Calculated payment: $ 203,640.19 Interest Principal $ 11,001.00 $ 192,639.19 $ 10,554.72 193,085.47 10,107.40 193,532.79 9,659.05 193,981.14 9,209.66 194,430.53 8,759.23 194,880.96 8,307.76 195,332.43 7,855.24 195,784.95 7,401.67 196,238.52 6,947.05 196,693.14 6,491.38 197,148.81 6,034.65 197,605.54 5,576.86 198,063.33 5,118.02 198,522.17 4,658.11 198,982.08 4,197.13 199,443.06 3,735.09 199,905.10 3,271.97 200,368.22 2,807.79 200,832.40 2,342.53 201,297.66 1,876.19 201,764.00 1,408.77 202,231.42 940.26 202,699.93 470.68 203,169.51 $ 138,732.21 $ 4,748,632.35 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 4,555,993.16 $ 177,449.81 4,362,907.69 188,004.53 4,169,374.90 198,111.93 3,975,393.76 207,770.98 3,780,963.23 216,980.64 3,586,082.27 225,739.87 3,390,749.84 234,047.63 3,194,964.89 241,902.87 2,998,726.37 249,304.54 2,802,033.23 256,251.59 2,604,884.42 262,742.97 2,407,278.88 268,777.62 $ 2,341,353.47 $ 102,328.81 $ 2,443,682.28 2,209,215.55 274,354.48 2,010,693.38 279,472.50 1,811,711.30 284,130.61 1,612,268.24 288,327.74 1,412,363.14 292,062.83 1,211,994.92 295,334.80 1,011,162.52 298,142.59 809,864.86 300,485.12 608,100.86 302,361.31 405,869.44 303,770.08 203,169.51 304,710.34 (0.00) 305,181.02 $ 2,407,278.88 $ 36,403.40 $ 2,443,682.28 Outstanding as of June 30, 2009 Principal $ 4,748,632.35 Total Interest Payment 138,732.21 Total Debt Service Payable $ 4,887,364.56 59 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments Network Infrastructure 08-01 Computer Equipment LOAN DATA PERIODIC PAYMENT Calculated payment: $ 410,500.53 Loan amount: $ 14,173,582.01 Annual interest rate: 2.73000% Term in years: 3 Payments per year: 12 First payment due: 7/25/2008 AMORTIZATION SCHEDULE Payment No. Date 13 7/25/2009 $ 14 8/25/2009 15 9/25/2009 16 10/25/2009 17 11/25/2009 18 12/25/2009 19 1/25/2010 20 2/25/2010 21 3/25/2010 22 4/25/2010 23 5/25/2010 24 6/25/2010 25 7/25/2010 26 8/25/2010 27 9/25/2010 28 10/25/2010 29 11/25/2010 30 12/25/2010 31 1/25/2011 32 2/25/2011 33 3/25/2011 34 4/25/2011 35 5/25/2011 36 6/25/2011 Beginning Balance 9,577,286.45 9,188,574.25 8,798,977.73 8,408,494.87 8,017,123.67 7,624,862.10 7,231,708.13 6,837,659.74 6,442,714.89 6,046,871.54 5,650,127.64 5,252,481.15 4,853,930.01 4,454,472.17 4,054,105.56 3,652,828.12 3,250,637.77 2,847,532.44 2,443,510.05 2,038,568.51 1,632,705.72 1,225,919.60 818,208.04 409,568.93 Interest $ 21,788.33 20,904.01 20,017.67 19,129.33 18,238.96 17,346.56 16,452.14 15,555.68 14,657.18 13,756.63 12,854.04 11,949.39 11,042.69 10,133.92 9,223.09 8,310.18 7,395.20 6,478.14 5,558.99 4,637.74 3,714.41 2,788.97 1,861.42 931.77 $ 274,726.44 $ $ Principal 388,712.20 $ 389,596.52 390,482.86 391,371.20 392,261.57 393,153.97 394,048.39 394,944.85 395,843.35 396,743.90 397,646.49 398,551.14 399,457.84 400,366.61 401,277.44 402,190.35 403,105.33 404,022.39 404,941.54 405,862.79 406,786.12 407,711.56 408,639.11 409,568.93 9,577,286.45 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest Total 9,188,574.25 $ 351,499.13 8,798,977.73 372,403.14 8,408,494.87 392,420.81 8,017,123.67 411,550.14 7,624,862.10 429,789.10 7,231,708.13 447,135.66 6,837,659.74 463,587.80 6,442,714.89 479,143.48 6,046,871.54 493,800.66 5,650,127.64 507,557.29 5,252,481.15 520,411.33 4,853,930.01 532,360.72 $ 4,723,356.44 $ 202,649.92 $ 4,926,006.36 4,454,472.17 543,403.41 4,054,105.56 553,537.33 3,652,828.12 562,760.42 3,250,637.77 571,070.60 2,847,532.44 578,465.80 2,443,510.05 584,943.94 2,038,568.51 590,502.93 1,632,705.72 595,140.67 1,225,919.60 598,855.08 818,208.04 601,644.05 409,568.93 603,505.47 0.00 604,437.24 $ 4,853,930.01 $ 72,076.52 $ 4,926,006.53 Outstanding as of June 30, 2009 Principal $ 9,577,286.45 Total Interest Payment 274,726.44 Total Debt Service Payable $ 9,852,012.89 60 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Maricopa County OCIO OCIO Studio Equipment Studio Equipment LOAN DATA Loan amount: $ Annual interest rate: Term in years: Payments per year: First payment due: AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 7 7/16/2009 $ 35,644.64 8 8/16/2009 34,519.85 9 9/16/2009 33,390.84 10 10/16/2009 32,257.60 11 11/16/2009 31,120.11 12 12/16/2009 29,978.35 13 1/16/2010 28,832.31 14 2/16/2010 27,681.97 15 3/16/2010 26,527.32 16 4/16/2010 25,368.34 17 5/16/2010 24,205.01 18 6/16/2010 23,037.32 19 7/16/2010 21,865.25 20 8/16/2010 20,688.78 21 9/16/2010 19,507.90 22 10/16/2010 18,322.59 23 11/16/2010 17,132.84 24 12/16/2010 15,938.63 25 1/16/2011 14,739.94 26 2/16/2011 13,536.75 27 3/16/2011 12,329.05 28 4/16/2011 11,116.82 29 5/16/2011 9,900.05 30 6/16/2011 8,678.71 31 7/16/2011 7,452.79 32 8/16/2011 6,222.28 33 9/16/2011 4,987.15 34 10/16/2011 3,747.39 35 11/16/2011 2,502.98 36 12/16/2011 1,253.91 Outstanding as of June 30, 2009 Principal $ Total Interest Payment Total Debt Service Payable $ PERIODIC PAYMENT Calculated payment: $ 42,305.69 4.50000% 3 12 1/16/2009 Interest 133.67 129.45 125.22 120.97 116.70 112.42 108.12 103.81 99.48 95.13 90.77 86.39 81.99 77.58 73.15 68.71 64.25 59.77 55.27 50.76 46.23 41.69 37.12 32.54 27.95 23.33 18.70 14.05 9.39 4.70 $ 2,109.31 $ Principal 1,124.79 1,129.01 1,133.24 1,137.49 1,141.76 1,146.04 1,150.34 1,154.65 1,158.98 1,163.33 1,167.69 1,172.07 1,176.47 1,180.88 1,185.31 1,189.75 1,194.21 1,198.69 1,203.19 1,207.70 1,212.23 1,216.77 1,221.34 1,225.92 1,230.51 1,235.13 1,239.76 1,244.41 1,249.07 1,253.91 $ 35,644.64 $ $ 1,258.46 Fiscal Year Ended 6/30 Ending Cumulative Balance Interest Principal Interest 34,519.85 $ 1,023.38 33,390.84 1,152.83 32,257.60 1,278.05 31,120.11 1,399.02 29,978.35 1,515.72 28,832.31 1,628.14 27,681.97 1,736.26 26,527.32 1,840.07 25,368.34 1,939.55 24,205.01 2,034.68 23,037.32 2,125.45 21,865.25 2,211.84 $ 13,779.39 $ 1,322.13 $ 2,293.83 20,688.78 19,507.90 2,371.41 18,322.59 2,444.56 17,132.84 2,513.27 15,938.63 2,577.52 14,739.94 2,637.29 13,536.75 2,692.56 12,329.05 2,743.32 11,116.82 2,789.55 9,900.05 2,831.24 8,678.71 2,868.36 7,452.79 2,900.90 $ 14,412.46 $ 689.06 $ 6,222.28 2,928.85 4,987.15 2,952.18 3,747.39 2,970.88 2,502.98 2,984.93 1,253.91 2,994.32 (0.00) 2,999.02 $ 7,452.79 $ 98.12 $ Total 15,101.52 15,101.52 7,550.91 35,644.64 2,109.31 37,753.95 61 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Maricopa County Sheriff's Office Sheriff Laptop Laptop Computer Equipment LOAN DATA Loan amount: $ Annual interest rate: Term in years: Payments per year: First payment due: 916,326.46 4.12000% 3 12 3/6/2009 PERIODIC PAYMENT Calculated payment: $ AMORTIZATION SCHEDULE Payment Beginning Ending No. Date Balance Interest Principal Balance 5 7/6/2009 $ 820,005.83 $ 2,815.35 $ 24,287.20 $ 795,718.63 6 8/6/2009 795,718.63 2,731.97 24,370.58 771,348.05 7 9/6/2009 771,348.05 2,648.29 24,454.26 746,893.79 8 10/6/2009 746,893.79 2,564.33 24,538.22 722,355.57 9 11/6/2009 722,355.57 2,480.09 24,622.46 697,733.11 10 12/6/2009 697,733.11 2,395.55 24,707.00 673,026.11 11 1/6/2010 673,026.11 2,310.72 24,791.83 648,234.28 12 2/6/2010 648,234.28 2,225.60 24,876.95 623,357.33 13 3/6/2010 623,357.33 2,140.19 24,962.36 598,394.97 14 4/6/2010 598,394.97 2,054.49 25,048.06 573,346.91 15 5/6/2010 573,346.91 1,968.49 25,134.06 548,212.85 16 6/6/2010 548,212.85 1,882.20 25,220.35 522,992.50 17 7/6/2010 522,992.50 1,795.61 25,306.94 497,685.56 18 8/6/2010 497,685.56 1,708.72 25,393.83 472,291.73 19 9/6/2010 472,291.73 1,621.53 25,481.02 446,810.71 20 10/6/2010 446,810.71 1,534.05 25,568.50 421,242.21 21 11/6/2010 421,242.21 1,446.26 25,656.29 395,585.92 22 12/6/2010 395,585.92 1,358.18 25,744.37 369,841.55 23 1/6/2011 369,841.55 1,269.79 25,832.76 344,008.79 24 2/6/2011 344,008.79 1,181.10 25,921.45 318,087.34 25 3/6/2011 318,087.34 1,092.10 26,010.45 292,076.89 26 4/6/2011 292,076.89 1,002.80 26,099.75 265,977.14 27 5/6/2011 265,977.14 913.19 26,189.36 239,787.78 28 6/6/2011 239,787.78 823.27 26,279.28 213,508.50 29 7/6/2011 213,508.50 733.05 26,369.50 187,139.00 30 8/6/2011 187,139.00 642.51 26,460.04 160,678.96 31 9/6/2011 160,678.96 551.66 26,550.89 134,128.07 32 10/6/2011 134,128.07 460.51 26,642.04 107,486.03 33 11/6/2011 107,486.03 369.04 26,733.51 80,752.52 34 12/6/2011 80,752.52 277.25 26,825.30 53,927.22 35 1/6/2012 53,927.22 185.15 26,917.40 27,009.82 36 2/6/2012 27,009.82 92.73 27,009.82 0.00 $ 47,275.77 $ 820,005.83 27,102.55 Fiscal Year Ended 6/30 Cumulative Interest Principal Interest Total $ 14,904.92 17,636.89 20,285.18 22,849.51 25,329.60 27,725.15 30,035.87 32,261.47 34,401.66 36,456.15 38,424.64 40,306.84 $ 297,013.33 $ 28,217.27 $ 325,230.60 42,102.45 43,811.17 45,432.70 46,966.75 48,413.01 49,771.19 51,040.98 52,222.08 53,314.18 54,316.98 55,230.17 56,053.44 $ 309,484.00 $ 15,746.60 $ 325,230.60 56,786.49 57,429.00 57,980.66 58,441.17 58,810.21 59,087.46 59,272.61 59,365.34 $ 213,508.50 $ 3,311.90 $ 216,820.40 Outstanding as of June 30, 2009 Principal $ 820,005.83 Total Interest Payment 47,275.77 Total Debt Service Payable $ 867,281.60 62 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Maricopa County Medical Examiner Medical Examiner Equipment Medical Examiner Equipment LOAN DATA Loan amount: $ Annual interest rate: Term in years: Payments per year: First payment due: 181,536.62 5.25000% 8 12 3/9/2009 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 5 7/9/2009 $ 175,418.82 6 8/9/2009 173,872.28 7 9/9/2009 172,318.85 8 10/9/2009 170,758.49 9 11/9/2009 169,191.18 10 12/9/2009 167,616.88 11 1/9/2010 166,035.56 12 2/9/2010 164,447.19 13 3/9/2010 162,851.74 14 4/9/2010 161,249.18 15 5/9/2010 159,639.47 16 6/9/2010 158,022.58 17 7/9/2010 156,398.49 18 8/9/2010 154,767.16 19 9/9/2010 153,128.55 20 10/9/2010 151,482.64 21 11/9/2010 149,829.39 22 12/9/2010 148,168.77 23 1/9/2011 146,500.74 24 2/9/2011 144,825.28 25 3/9/2011 143,142.35 26 4/9/2011 141,451.92 27 5/9/2011 139,753.95 28 6/9/2011 138,048.41 29 7/9/2011 136,335.26 30 8/9/2011 134,614.48 31 9/9/2011 132,886.03 32 10/9/2011 131,149.87 33 11/9/2011 129,405.97 34 12/9/2011 127,654.29 35 1/9/2012 125,894.80 36 2/9/2012 124,127.47 37 3/9/2012 122,352.26 38 4/9/2012 120,569.14 39 5/9/2012 118,778.07 40 6/9/2012 116,979.01 41 7/9/2012 115,171.93 42 8/9/2012 113,356.79 43 9/9/2012 111,533.56 44 10/9/2012 109,702.20 45 11/9/2012 107,862.68 46 12/9/2012 106,014.96 47 1/9/2013 104,159.00 48 2/9/2013 102,294.77 49 3/9/2013 100,422.22 50 4/9/2013 98,541.33 51 5/9/2013 96,652.05 52 6/9/2013 94,754.35 53 7/9/2013 92,848.19 54 8/9/2013 90,933.53 55 9/9/2013 89,010.33 56 10/9/2013 87,078.56 57 11/9/2013 85,138.17 58 12/9/2013 83,189.13 59 1/9/2014 81,231.40 60 2/9/2014 79,264.95 61 3/9/2014 77,289.73 62 4/9/2014 75,305.70 63 5/9/2014 73,312.83 64 6/9/2014 71,311.07 65 7/9/2014 69,300.39 66 8/9/2014 67,280.74 67 9/9/2014 65,252.09 68 10/9/2014 63,214.40 69 11/9/2014 61,167.62 70 12/9/2014 59,111.72 71 1/9/2015 57,046.65 72 2/9/2015 54,972.37 73 3/9/2015 52,888.85 74 4/9/2015 50,796.04 75 5/9/2015 48,693.90 76 6/9/2015 46,582.38 77 7/9/2015 44,461.45 78 8/9/2015 42,331.06 79 9/9/2015 40,191.18 80 10/9/2015 38,041.76 81 11/9/2015 35,882.76 82 12/9/2015 33,714.13 83 1/9/2016 31,535.83 84 2/9/2016 29,347.82 85 3/9/2016 27,150.06 86 4/9/2016 24,942.50 87 5/9/2016 22,725.10 88 6/9/2016 20,497.81 89 7/9/2016 18,260.59 90 8/9/2016 16,013.40 91 9/9/2016 13,756.19 92 10/9/2016 11,488.91 93 11/9/2016 9,211.53 94 12/9/2016 6,923.99 95 1/9/2017 4,626.25 96 2/9/2017 2,318.27 PERIODIC PAYMENT Calculated payment: $ Interest Principal $ 782.07 $ 1,546.54 775.18 1,553.43 768.25 1,560.36 761.30 1,567.31 754.31 1,574.30 747.29 1,581.32 740.24 1,588.37 733.16 1,595.45 726.05 1,602.56 718.90 1,609.71 711.72 1,616.89 704.52 1,624.09 697.28 1,631.33 690.00 1,638.61 682.70 1,645.91 675.36 1,653.25 667.99 1,660.62 660.58 1,668.03 653.15 1,675.46 645.68 1,682.93 638.18 1,690.43 630.64 1,697.97 623.07 1,705.54 615.46 1,713.15 607.83 1,720.78 600.16 1,728.45 592.45 1,736.16 584.71 1,743.90 576.93 1,751.68 569.12 1,759.49 561.28 1,767.33 553.40 1,775.21 545.49 1,783.12 537.54 1,791.07 529.55 1,799.06 521.53 1,807.08 513.47 1,815.14 505.38 1,823.23 497.25 1,831.36 489.09 1,839.52 480.89 1,847.72 472.65 1,855.96 464.38 1,864.23 456.06 1,872.55 447.72 1,880.89 439.33 1,889.28 430.91 1,897.70 422.45 1,906.16 413.95 1,914.66 405.41 1,923.20 396.84 1,931.77 388.22 1,940.39 379.57 1,949.04 370.88 1,957.73 362.16 1,966.45 353.39 1,975.22 344.58 1,984.03 335.74 1,992.87 326.85 2,001.76 317.93 2,010.68 308.96 2,019.65 299.96 2,028.65 290.92 2,037.69 281.83 2,046.78 272.71 2,055.90 263.54 2,065.07 254.33 2,074.28 245.09 2,083.52 235.80 2,092.81 226.47 2,102.14 217.09 2,111.52 207.68 2,120.93 198.22 2,130.39 188.73 2,139.88 179.19 2,149.42 169.60 2,159.00 159.98 2,168.63 150.31 2,178.30 140.60 2,188.01 130.84 2,197.76 121.04 2,207.56 111.20 2,217.40 101.32 2,227.29 91.39 2,237.22 81.41 2,247.19 71.39 2,257.21 61.33 2,267.28 51.22 2,277.38 41.07 2,287.54 30.87 2,297.74 20.63 2,307.98 10.34 2,318.27 $ 38,813.23 $ 175,418.82 $ Ending Balance 173,872.28 172,318.85 170,758.49 169,191.18 167,616.88 166,035.56 164,447.19 162,851.74 161,249.18 159,639.47 158,022.58 156,398.49 154,767.16 153,128.55 151,482.64 149,829.39 148,168.77 146,500.74 144,825.28 143,142.35 141,451.92 139,753.95 138,048.41 136,335.26 134,614.48 132,886.03 131,149.87 129,405.97 127,654.29 125,894.80 124,127.47 122,352.26 120,569.14 118,778.07 116,979.01 115,171.93 113,356.79 111,533.56 109,702.20 107,862.68 106,014.96 104,159.00 102,294.77 100,422.22 98,541.33 96,652.05 94,754.35 92,848.19 90,933.53 89,010.33 87,078.56 85,138.17 83,189.13 81,231.40 79,264.95 77,289.73 75,305.70 73,312.83 71,311.07 69,300.39 67,280.74 65,252.09 63,214.40 61,167.62 59,111.72 57,046.65 54,972.37 52,888.85 50,796.04 48,693.90 46,582.38 44,461.45 42,331.06 40,191.18 38,041.76 35,882.76 33,714.13 31,535.83 29,347.82 27,150.06 24,942.50 22,725.10 20,497.81 18,260.59 16,013.40 13,756.19 11,488.91 9,211.53 6,923.99 4,626.25 2,318.27 0.00 2,328.61 Fiscal Year Ended 6/30 Cumulative Interest Principal Interest $ 3,978.71 4,753.89 5,522.14 6,283.44 7,037.75 7,785.04 8,525.28 9,258.44 9,984.49 10,703.39 11,415.11 12,119.63 $ 19,020.33 $ 8,922.99 12,816.91 13,506.91 14,189.61 14,864.97 15,532.96 16,193.54 16,846.69 17,492.37 18,130.55 18,761.19 19,384.26 19,999.72 $ 20,063.23 $ 7,880.09 20,607.55 21,207.71 21,800.16 22,384.87 22,961.80 23,530.92 24,092.20 24,645.60 25,191.09 25,728.63 26,258.18 26,779.71 $ 21,163.33 $ 6,779.99 27,293.18 27,798.56 28,295.81 28,784.90 29,265.79 29,738.44 30,202.82 30,658.88 31,106.60 31,545.93 31,976.84 32,399.29 $ 22,323.74 $ 5,619.58 32,813.24 33,218.65 33,615.49 34,003.71 34,383.28 34,754.16 35,116.32 35,469.71 35,814.29 36,150.03 36,476.88 36,794.81 $ 23,547.80 $ 4,395.52 27,088.67 27,388.63 27,679.55 27,961.38 28,234.09 28,497.63 28,751.96 28,997.05 29,232.85 29,459.32 29,676.41 29,884.09 $ 24,838.94 $ 3,104.38 26,977.93 27,166.66 27,345.85 27,515.45 27,675.43 27,825.74 27,966.34 28,097.18 28,218.22 28,329.42 28,430.74 28,522.13 $ 26,200.86 $ 1,742.42 28,603.54 28,674.93 28,736.26 28,787.48 28,828.55 28,859.42 28,880.05 28,890.39 $ 18,260.59 $ 368.26 Total $ 27,943.32 $ 27,943.32 $ 27,943.32 $ 27,943.32 $ 27,943.32 $ 27,943.32 $ 27,943.28 $ 18,628.85 Outstanding as of June 30, 2009 Principal $ 175,418.82 Total Interest Payment 38,813.23 Total Debt Service Payable $ 214,232.05 63 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments Network Infrastructure 09-01 Computer Equipment LOAN DATA PERIODIC PAYMENT Calculated payment: $ 515,992.40 Loan amount: $ 17,732,403.74 Annual interest rate: 3.04000% Term in years: 3 Payments per year: 12 First payment due: 7/26/2009 AMORTIZATION SCHEDULE Payment Beginning No. Date Balance 1 7/26/2009 $ 17,732,403.74 2 8/26/2009 17,261,333.43 3 9/26/2009 16,789,069.74 4 10/26/2009 16,315,609.65 5 11/26/2009 15,840,950.13 6 12/26/2009 15,365,088.14 7 1/26/2010 14,888,020.63 8 2/26/2010 14,409,744.56 9 3/26/2010 13,930,256.86 10 4/26/2010 13,449,554.44 11 5/26/2010 12,967,634.24 12 6/26/2010 12,484,493.18 13 7/26/2010 12,000,128.16 14 8/26/2010 11,514,536.08 15 9/26/2010 11,027,713.84 16 10/26/2010 10,539,658.32 17 11/26/2010 10,050,366.39 18 12/26/2010 9,559,834.92 19 1/26/2011 9,068,060.77 20 2/26/2011 8,575,040.79 21 3/26/2011 8,080,771.83 22 4/26/2011 7,585,250.72 23 5/26/2011 7,088,474.29 24 6/26/2011 6,590,439.36 25 7/26/2011 6,091,142.74 26 8/26/2011 5,590,581.23 27 9/26/2011 5,088,751.64 28 10/26/2011 4,585,650.74 29 11/26/2011 4,081,275.32 30 12/26/2011 3,575,622.15 31 1/26/2012 3,068,687.99 32 2/26/2012 2,560,469.61 33 3/26/2012 2,050,963.73 34 4/26/2012 1,540,167.10 35 5/26/2012 1,028,076.46 36 6/26/2012 514,688.52 Interest $ 44,922.09 43,728.71 42,532.31 41,332.88 40,130.41 38,924.89 37,716.32 36,504.69 35,289.98 34,072.20 32,851.34 31,627.38 30,400.32 29,170.16 27,936.88 26,700.47 25,460.93 24,218.25 22,972.42 21,723.44 20,471.29 19,215.97 17,957.47 16,695.78 15,430.89 14,162.81 12,891.50 11,616.98 10,339.23 9,058.24 7,774.01 6,486.52 5,195.77 3,901.76 2,604.46 1,303.88 $ 843,322.63 Principal 471,070.31 472,263.69 473,460.09 474,659.52 475,861.99 477,067.51 478,276.07 479,487.70 480,702.42 481,920.20 483,141.06 484,365.02 485,592.08 486,822.24 488,055.52 489,291.93 490,531.47 491,774.15 493,019.98 494,268.96 495,521.11 496,776.43 498,034.93 499,296.62 500,561.51 501,829.59 503,100.90 504,375.42 505,653.17 506,934.16 508,218.38 509,505.88 510,796.63 512,090.64 513,387.94 514,688.52 $ 17,732,403.74 $ Ending Balance $ 17,261,333.43 16,789,069.74 16,315,609.65 15,840,950.13 15,365,088.14 14,888,020.63 14,409,744.56 13,930,256.86 13,449,554.44 12,967,634.24 12,484,493.18 12,000,128.16 11,514,536.08 11,027,713.84 10,539,658.32 10,050,366.39 9,559,834.92 9,068,060.77 8,575,040.79 8,080,771.83 7,585,250.72 7,088,474.29 6,590,439.36 6,091,142.74 5,590,581.23 5,088,751.64 4,585,650.74 4,081,275.32 3,575,622.15 3,068,687.99 2,560,469.61 2,050,963.73 1,540,167.10 1,028,076.46 514,688.52 0.00 Fiscal Year Ended Cumulative Interest Principal Interest $ 44,922.09 88,650.80 131,183.11 172,515.99 212,646.40 251,571.29 289,287.61 325,792.30 361,082.28 395,154.48 428,005.82 459,633.20 $ 5,732,275.58 $ 459,633.20 490,033.52 519,203.68 547,140.56 573,841.03 599,301.96 623,520.21 646,492.63 668,216.07 688,687.36 707,903.33 725,860.80 742,556.58 $ 5,908,985.42 $ 282,923.38 757,987.47 772,150.28 785,041.78 796,658.76 806,997.99 816,056.23 823,830.24 830,316.76 835,512.53 839,414.29 842,018.75 843,322.63 $ 6,091,142.74 $ 100,766.05 6/30 Total $ 6,191,908.78 $ 6,191,908.80 $ 6,191,908.79 Outstanding as of June 30, 2009 Principal $ 17,732,403.74 Total Interest Payment 843,322.63 Total Debt Service Payable $ 18,575,726.37 64 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan County Department: Contract Number: Lease Description: Various Departments TFP#26 Computer Equipment LOAN DATA PERIODIC PAYMENT Calculated payment: $ Loan amount: $ 1,249,369.25 Annual interest rate: 3.87100% Term in years: 3 Payments per year: 12 First payment due: 7/30/2009 AMORTIZATION SCHEDULE Payment No. Date 1 7/30/2009 $ 2 8/30/2009 3 9/30/2009 4 10/30/2009 5 11/30/2009 6 12/30/2009 7 1/30/2010 8 2/28/2010 9 3/30/2010 10 4/30/2010 11 5/30/2010 12 6/30/2010 13 7/30/2010 14 8/30/2010 15 9/30/2010 16 10/30/2010 17 11/30/2010 18 12/30/2010 19 1/30/2011 20 2/28/2011 21 3/30/2011 22 4/30/2011 23 5/30/2011 24 6/30/2011 25 7/30/2011 26 8/30/2011 27 9/30/2011 28 10/30/2011 29 11/30/2011 30 12/30/2011 31 1/30/2012 32 2/29/2012 33 3/30/2012 34 4/30/2012 35 5/30/2012 36 6/30/2012 Beginning Balance 1,249,369.25 1,216,584.80 1,183,694.59 1,150,698.28 1,117,595.53 1,084,386.00 1,051,069.34 1,017,645.21 984,113.26 950,473.14 916,724.50 882,866.99 848,900.26 814,823.96 780,637.74 746,341.24 711,934.11 677,415.98 642,786.50 608,045.32 573,192.07 538,226.39 503,147.91 467,956.27 432,651.11 397,232.06 361,698.76 326,050.83 290,287.91 254,409.62 218,415.60 182,305.47 146,078.85 109,735.37 73,274.65 36,696.31 Interest Principal 4,030.26 $ 32,784.45 $ 3,924.50 32,890.21 3,818.40 32,996.31 3,711.96 33,102.75 3,605.18 33,209.53 3,498.05 33,316.66 3,390.57 33,424.13 3,282.75 33,531.95 3,174.59 33,640.12 3,066.07 33,748.64 2,957.20 33,857.51 2,847.98 33,966.73 2,738.41 34,076.30 2,628.49 34,186.22 2,518.21 34,296.50 2,407.57 34,407.13 2,296.58 34,518.13 2,185.23 34,629.48 2,073.52 34,741.18 1,961.45 34,853.25 1,849.02 34,965.68 1,736.23 35,078.48 1,623.07 35,191.64 1,509.55 35,305.16 1,395.66 35,419.05 1,281.40 35,533.30 1,166.78 35,647.93 1,051.79 35,762.92 936.42 35,878.29 820.68 35,994.02 704.57 36,110.13 588.09 36,226.62 471.23 36,343.48 353.99 36,460.72 236.37 36,578.34 118.38 36,696.31 $ 75,960.20 $ 1,249,369.25 $ Ending Balance 1,216,584.80 1,183,694.59 1,150,698.28 1,117,595.53 1,084,386.00 1,051,069.34 1,017,645.21 984,113.26 950,473.14 916,724.50 882,866.99 848,900.26 814,823.96 780,637.74 746,341.24 711,934.11 677,415.98 642,786.50 608,045.32 573,192.07 538,226.39 503,147.91 467,956.27 432,651.11 397,232.06 361,698.76 326,050.83 290,287.91 254,409.62 218,415.60 182,305.47 146,078.85 109,735.37 73,274.65 36,696.31 0.00 36,814.71 Fiscal Year Ended Cumulative Interest Principal Interest $ 4,030.26 7,954.76 11,773.16 15,485.12 19,090.30 22,588.35 25,978.92 29,261.67 32,436.26 35,502.33 38,459.53 41,307.51 $ 400,468.99 $ 41,307.51 44,045.92 46,674.41 49,192.62 51,600.19 53,896.77 56,082.00 58,155.52 60,116.97 61,965.99 63,702.22 65,325.29 66,834.84 $ 416,249.15 $ 25,527.33 68,230.50 69,511.90 70,678.68 71,730.47 72,666.89 73,487.57 74,192.14 74,780.23 75,251.46 75,605.45 75,841.82 75,960.20 $ 432,651.11 $ 9,125.36 6/30 Total $ 441,776.50 $ 441,776.48 $ 441,776.47 Outstanding as of June 30, 2009 Principal $ 1,249,369.25 Total Interest Payment 75,960.20 Total Debt Service Payable $ 1,325,329.45 65 Maricopa County, Arizona Department of Finance Debt Management Division Debt Management Plan 66 Maricopa County, Arizona Department of Finance Debt Management Division