Rebate Report $15,990,000 Delivery Date: October 9, 2012 Installment Computation Period Ending Date: October 8, 2017
The Bank of New York Mellon Trust Company, N.A. Corporate Trust 5050 Poplar Avenue, Suite 1717 Memphis, TN 38157 T 901 507 4240 F 901 507 1747 Voyager Foundation, Inc. Durham, NC $15,990,000 For the October 8, 2017 Computation Date We have completed our engagement to prepare certain computations relating to the above-captioned issue (the Bonds ). The Rebate Amount, as shown in this report, is cumulative for the period from October 9, 2012, the delivery date of the Bonds, to October 8, 2017 (the Computation Period ). All nonpurpose payments and receipts are future valued to the Computation Date. The scope of our engagement consisted of preparation of the computations as shown in the attached schedules to determine the Rebate Amount as described in Section 148(f)(2) of the Internal Revenue Code of 1986, as amended (the Code ), and related Sections 1.148-1 through 1.148-11 of the Treasury Regulations issued June 18, 1993, as amended (the Regulations ). Certain computational methods used in the preparation of the schedules are described in the Summary of Computational Information and Definitions. Our engagement was limited to the computation of the Rebate Amount based upon information furnished to us. In accordance with the terms of our engagement, we did not audit the information provided to us, and we express no opinion as to the completeness, accuracy, or suitability of such information for purposes of calculating the Rebate Amount.
Voyager Foundation, Inc. Our computations in the attached schedules are summarized as follows: Yields Rebate Summary Investment: 0.138794% Actual Earnings: $8,274.21 Bond: 6.102820% Allowable Earnings: 417,373.11 Current Period Rebate Amount: (409,098.90) Future Value of Computation Credits: (9,245.42) Total Rebate Amount: ($418,344.32) Minimum Payment Due: December 7, 2017 $ 0.00 The terms of our engagement are such that we have no obligation to update this report because of events occurring, or data or information coming to our attention, subsequent to the date of this report. This report is intended solely for the information and use of the parties identified in this letter and is not intended to be and should not be used by anyone other than these specified parties. The Bank of New York Mellon Trust Company, N.A. By: Name: Samantha J. Duke Title: Vice President November 6, 2017-2-
Voyager Foundation, Inc. - - $15,990,000 SUMMARY OF COMPUTATIONAL INFORMATION AND DEFINITIONS COMPUTATIONAL INFORMATION 1. The delivery date of the Bonds was October 09, 2012. 2. Computations are based upon a 30/360 day year and semi-annual compounding. 3. For purposes of computing interest earnings and yield, investments outstanding at the end of the Computation Period were assumed to mature at their present value at the end of the Computation Period. 4. For investment cash flow, debt service and yield computation purposes, all payments and receipts are assumed to be paid or received, respectively, as shown in the attached schedules. 5. Purchase prices of investments are assumed to be at fair market value representing an arm's length transaction. 6. The Principal and Interest Funds have been excluded from the calculation of the Rebate Amount for the periods in which they operate as a bona fide debt service fund and qualify for exclusion from the rebate requirement. 7. For purposes of computing the Rebate Amount, we have assumed that no transactions have occurred during the Computation Period which would result in the creation of additional replacement proceeds. 8. We are not aware of any qualified hedging transactions entered into by the issuer that would affect the computation of the Bond Yield. 9. Sections 141-147 of the Internal Revenue Code of 1986, as amended (the Code ) and related regulations set forth requirements with respect to the amount of bond proceeds that may be used for the benefit of a private person or entity. Treasury Regulations Section 1.141-6(a) requires that allocations of expenditures of bond proceeds for purposes of computing the Rebate Amount must be the same as the allocations of expenditures used to test the private use of projects financed with proceeds of the Bonds. For purposes of calculating the Rebate Amount, our calculations assume that the allocations of expenditures of the Bond proceeds as provided to us are the same for both purposes of Sections 141-147 and Section 148 of the Code. The scope of this engagement did not include procedures to analyze the private use limitations associated with this bond issue. 10. For purposes of computing the Rebate Amount, we have assumed that any proceeds allocated to a reimbursement for expenditures incurred prior to the delivery of the Bonds comply with the reimbursement requirements of Treasury Regulations Section 1.150-2. 11. As of this Computation Date, none of the gross proceeds of the Bonds have been subject to the arbitrage yield restriction requirements as defined in the Regulations. Therefore, as of this Computation Date, no yield restriction liability has accrued on the gross proceeds of the Bonds. -3-
Voyager Foundation, Inc. - - $15,990,000 SUMMARY OF COMPUTATIONAL INFORMATION AND DEFINITIONS REBATE DEFINITIONS Computation Date: Each date on which the rebate amount for an issue is computed. For a fixed yield issue, an issuer may treat any date as a computation date. For a variable yield issue, an issuer may treat the last day of any bond year as a computation date. Installment Rebate Payment: An Installment Rebate Payment must be in an amount that, when added to the future value, as of the computation date, of previous payments made for the issue, equals at least 90 percent of the Rebate Amount as of that date. Installment Rebate Payment Date: The first Installment Rebate Payment must be made for a Computation Date that is not later than five years after the issue date. Subsequent Rebate Installment Payments must be made for a Computation Date that is not later than five years after the previous computation date for which an installment payment was made. Rebate Amount: As of any date, the rebate amount for an issue is the excess of the future value, as of that date, of all receipts on nonpurpose investments over the future value of all payments on nonpurpose investments. The future value is computed using the Bond Yield. Bond Yield: For fixed yield issues, the discount rate that, when used in computing the present value of all the unconditionally payable payments of principal and interest, fees for a qualified guarantee, and payments properly allocable to a qualified hedge paid and to be paid with respect to the Bonds, produces an amount equal to the present value of the Issue Price of the Bonds. Present value is computed as of the delivery date of the Bonds. For variable yield issues, it is the discount rate for each yield computation period that, when used in computing the present value as of the first day of the yield computation period of all the payments of principal, interest, qualified guarantee and qualified hedge fees attributable to the yield computation period produces an amount equal to the present value of the Bonds as of the first day of the yield computation period. Investment Yield: The discount rate that, when used in computing the present value as of the date an investment is first allocated to the issue of all unconditionally payable receipts from the investment, produces an amount equal to the present value of all unconditionally payable payments for the investment. For this purpose, payments means amounts to be actually or constructively paid to acquire the investment, and receipts means amounts to be actually or constructively received from the investment, such as earnings and return of principal. The Investment Yield stated herein is cumulative for all includable investments contained in this report. -4-
Voyager Foundation, Inc. - - $15,990,000 SUMMARY OF COMPUTATIONAL INFORMATION AND DEFINITIONS Issue Price: The price determined on the basis of the initial offering price for which a substantial amount of the Bonds were sold to the public. Computation Credit: A computation credit is allowed as defined in Section 1.148-3(d) on the last day of each bond year during which there are investments subject to the rebate requirement, and on the final maturity date of the issue. -5-
Total Debt Service Requirements and Yield on the Bonds
Payment Date Interest Rate $15,990,000 TOTAL DEBT SERVICE REQUIREMENTS AND YIELD ON THE BONDS Principal Interest Total Adjusted Present Value 10/09/2012 Debt Payment Adjustment Debt Payment 6.102820% 04/01/2013 461,571.56 461,571.56-461,571.56 448,502.92 10/01/2013 5.500% 20,000.00 483,040.00 503,040.00-503,040.00 474,323.69 04/01/2014 482,490.00 482,490.00-482,490.00 441,475.57 10/01/2014 5.500% 205,000.00 482,490.00 687,490.00-687,490.00 610,422.88 04/01/2015 476,852.50 476,852.50-476,852.50 410,860.64 10/01/2015 5.500% 220,000.00 476,852.50 696,852.50-696,852.50 582,636.11 04/01/2016 470,802.50 470,802.50-470,802.50 381,980.64 10/01/2016 5.500% 230,000.00 470,802.50 700,802.50-700,802.50 551,752.48 04/01/2017 464,477.50 464,477.50-464,477.50 354,861.92 10/01/2017 5.500% 245,000.00 464,477.50 709,477.50-709,477.50 525,992.32 04/01/2018 457,740.00 457,740.00-457,740.00 329,310.59 10/01/2018 5.500% 255,000.00 457,740.00 712,740.00-712,740.00 497,581.27 04/01/2019 450,727.50 450,727.50-450,727.50 305,346.54 10/01/2019 5.500% 270,000.00 450,727.50 720,727.50-720,727.50 473,801.15 04/01/2020 443,302.50 443,302.50-443,302.50 282,794.69 10/01/2020 5.500% 285,000.00 443,302.50 728,302.50-728,302.50 450,846.74 04/01/2021 435,465.00 435,465.00-435,465.00 261,587.18 10/01/2021 5.500% 300,000.00 435,465.00 735,465.00-735,465.00 428,717.55 04/01/2022 427,215.00 427,215.00-427,215.00 241,658.35 10/01/2022 5.500% 320,000.00 427,215.00 747,215.00-747,215.00 410,154.00 04/01/2023 418,415.00 418,415.00-418,415.00 222,871.57 10/01/2023 6.000% 335,000.00 418,415.00 753,415.00-753,415.00 389,428.52 04/01/2024 408,365.00 408,365.00-408,365.00 204,827.41 10/01/2024 6.000% 355,000.00 408,365.00 763,365.00-763,365.00 371,550.51 04/01/2025 397,715.00 397,715.00-397,715.00 187,846.73 10/01/2025 6.000% 375,000.00 397,715.00 772,715.00-772,715.00 354,158.02 04/01/2026 386,465.00 386,465.00-386,465.00 171,883.41 10/01/2026 6.000% 400,000.00 386,465.00 786,465.00-786,465.00 339,429.24 04/01/2027 374,465.00 374,465.00-374,465.00 156,829.28 10/01/2027 6.000% 425,000.00 374,465.00 799,465.00-799,465.00 324,908.76 04/01/2028 361,715.00 361,715.00-361,715.00 142,650.91 10/01/2028 6.000% 450,000.00 361,715.00 811,715.00-811,715.00 310,640.20 04/01/2029 348,215.00 348,215.00-348,215.00 129,314.62 10/01/2029 6.000% 475,000.00 348,215.00 823,215.00-823,215.00 296,660.34 04/01/2030 333,965.00 333,965.00-333,965.00 116,786.66 10/01/2030 6.000% 505,000.00 333,965.00 838,965.00-838,965.00 284,696.53 04/01/2031 318,815.00 318,815.00-318,815.00 104,984.01 10/01/2031 6.000% 535,000.00 318,815.00 853,815.00-853,815.00 272,831.32 04/01/2032 302,765.00 302,765.00-302,765.00 93,881.97 10/01/2032 6.000% 570,000.00 302,765.00 872,765.00-872,765.00 262,615.22 04/01/2033 285,665.00 285,665.00-285,665.00 83,411.45 10/01/2033 6.200% 605,000.00 285,665.00 890,665.00-890,665.00 252,364.97 04/01/2034 266,910.00 266,910.00-266,910.00 73,388.09 y=yield to Call Adjustment 2044001 - d=deep Discount Adjustment Wednesday, November 04, 2015 3:25 pm Page 1 of 2
Payment Date Interest Rate $15,990,000 TOTAL DEBT SERVICE REQUIREMENTS AND YIELD ON THE BONDS Principal Interest Total Adjusted Present Value 10/09/2012 Debt Payment Adjustment Debt Payment 6.102820% 10/01/2034 6.200% 640,000.00 266,910.00 906,910.00-906,910.00 241,975.28 04/01/2035 247,070.00 247,070.00-247,070.00 63,969.49 10/01/2035 6.200% 680,000.00 247,070.00 927,070.00-927,070.00 232,922.51 04/01/2036 225,990.00 225,990.00-225,990.00 55,097.79 10/01/2036 6.200% 725,000.00 225,990.00 950,990.00-950,990.00 224,991.96 04/01/2037 203,515.00 203,515.00-203,515.00 46,723.30 10/01/2037 6.200% 770,000.00 203,515.00 973,515.00-973,515.00 216,883.15 04/01/2038 179,645.00 179,645.00-179,645.00 38,836.88 10/01/2038 6.200% 815,000.00 179,645.00 994,645.00-994,645.00 208,662.01 04/01/2039 154,380.00 154,380.00-154,380.00 31,427.68 10/01/2039 6.200% 865,000.00 154,380.00 1,019,380.00-1,019,380.00 201,374.06 04/01/2040 127,565.00 127,565.00-127,565.00 24,453.72 10/01/2040 6.200% 920,000.00 127,565.00 1,047,565.00-1,047,565.00 194,867.99 04/01/2041 99,045.00 99,045.00-99,045.00 17,878.79 10/01/2041 6.200% 975,000.00 99,045.00 1,074,045.00-1,074,045.00 188,136.96 04/01/2042 68,820.00 68,820.00-68,820.00 11,698.02 10/01/2042 6.200% 2,220,000.00 68,820.00 2,288,820.00-2,288,820.00 377,533.43 $15,990,000.00 $20,181,766.56 $36,171,766.56 $0.00 $36,171,766.56 $15,990,000.00 The present value of the future payments equals to: Principal Amount of the Bonds $15,990,000.00 Issue Price $15,990,000.00 y=yield to Call Adjustment 2044001 - d=deep Discount Adjustment Wednesday, November 04, 2015 3:25 pm Page 2 of 2
$15,990,000 REOFFERING PRICE Series: Dated Date: 10/09/2012 Issue Basis: 30/360 Delivery Date: 10/09/2012 Payment Periods: 2 Maturity Date: 10/01/2042 Accrued Interest: $0.00 1st Available Call Date: 10/01/2022 OID/OIP: $0.00 Maturity Coupon Price to Price to Cost of Bond Date Principal Rate Yield Maturity Call Principal OID/OIP Type 10/01/2013 20,000.00 5.500% 5.500% 100.000% * 20,000.00 0.00 Term 1 10/01/2014 205,000.00 5.500% 5.500% 100.000% * 205,000.00 0.00 Term 1 10/01/2015 220,000.00 5.500% 5.500% 100.000% * 220,000.00 0.00 Term 1 10/01/2016 230,000.00 5.500% 5.500% 100.000% * 230,000.00 0.00 Term 1 10/01/2017 245,000.00 5.500% 5.500% 100.000% * 245,000.00 0.00 Term 1 10/01/2018 255,000.00 5.500% 5.500% 100.000% * 255,000.00 0.00 Term 1 10/01/2019 270,000.00 5.500% 5.500% 100.000% * 270,000.00 0.00 Term 1 10/01/2020 285,000.00 5.500% 5.500% 100.000% * 285,000.00 0.00 Term 1 10/01/2021 300,000.00 5.500% 5.500% 100.000% * 300,000.00 0.00 Term 1 10/01/2022 320,000.00 5.500% 5.500% 100.000% * 320,000.00 0.00 Term 1 c 10/01/2023 335,000.00 6.000% 6.000% 100.000% * 335,000.00 0.00 Term 2 c 10/01/2024 355,000.00 6.000% 6.000% 100.000% * 355,000.00 0.00 Term 2 c 10/01/2025 375,000.00 6.000% 6.000% 100.000% * 375,000.00 0.00 Term 2 c 10/01/2026 400,000.00 6.000% 6.000% 100.000% * 400,000.00 0.00 Term 2 c 10/01/2027 425,000.00 6.000% 6.000% 100.000% * 425,000.00 0.00 Term 2 c 10/01/2028 450,000.00 6.000% 6.000% 100.000% * 450,000.00 0.00 Term 2 c 10/01/2029 475,000.00 6.000% 6.000% 100.000% * 475,000.00 0.00 Term 2 c 10/01/2030 505,000.00 6.000% 6.000% 100.000% * 505,000.00 0.00 Term 2 c 10/01/2031 535,000.00 6.000% 6.000% 100.000% * 535,000.00 0.00 Term 2 c 10/01/2032 570,000.00 6.000% 6.000% 100.000% * 570,000.00 0.00 Term 2 c 10/01/2033 605,000.00 6.200% 6.200% 100.000% * 605,000.00 0.00 Term 3 c 10/01/2034 640,000.00 6.200% 6.200% 100.000% * 640,000.00 0.00 Term 3 c 10/01/2035 680,000.00 6.200% 6.200% 100.000% * 680,000.00 0.00 Term 3 c 10/01/2036 725,000.00 6.200% 6.200% 100.000% * 725,000.00 0.00 Term 3 c 10/01/2037 770,000.00 6.200% 6.200% 100.000% * 770,000.00 0.00 Term 3 c 10/01/2038 815,000.00 6.200% 6.200% 100.000% * 815,000.00 0.00 Term 3 c 10/01/2039 865,000.00 6.200% 6.200% 100.000% * 865,000.00 0.00 Term 3 c 10/01/2040 920,000.00 6.200% 6.200% 100.000% * 920,000.00 0.00 Term 3 c 10/01/2041 975,000.00 6.200% 6.200% 100.000% * 975,000.00 0.00 Term 3 c 10/01/2042 2,220,000.00 6.200% 6.200% 100.000% * 2,220,000.00 0.00 Term 3 $15,990,000.00 $ 15,990,000.00 $ 0.00 c=callable Bonds 2044001 *User Entered into System Wednesday, November 04, 2015 3:25 pm Page 1 of 1
Schedules Relating to the Computation of Investment Cash Flows and Yield
$15,990,000 INVESTMENT CASHFLOW BY FUND L3 - Reserve Fund Transaction Date Principal Interest Total Percentage Amount Balance 10/10/2012 (1,177,030.00) 0.00 (1,177,030.00) 100.00000% (1,177,030.00) 1,177,030.00 01/05/2016 (15.51) 15.51 0.00 100.00000% 0.00 1,177,045.51 02/02/2016 (108.72) 108.72 0.00 100.00000% 0.00 1,177,154.23 03/02/2016 (153.40) 153.40 0.00 100.00000% 0.00 1,177,307.63 04/04/2016 (185.95) 185.95 0.00 100.00000% 0.00 1,177,493.58 04/05/2016 277.63 0.00 277.63 100.00000% 277.63 1,177,215.95 05/03/2016 (172.73) 172.73 0.00 100.00000% 0.00 1,177,388.68 06/02/2016 (189.95) 189.95 0.00 100.00000% 0.00 1,177,578.63 07/05/2016 (186.15) 186.15 0.00 100.00000% 0.00 1,177,764.78 08/02/2016 (201.56) 201.56 0.00 100.00000% 0.00 1,177,966.34 09/02/2016 (210.41) 210.41 0.00 100.00000% 0.00 1,178,176.75 10/01/2016 (211.01) 211.01 0.00 100.00000% 0.00 1,178,387.76 11/02/2016 (178.38) 178.38 0.00 100.00000% 0.00 1,178,566.14 11/15/2016 1,536.14 0.00 1,536.14 100.00000% 1,536.14 1,177,030.00 12/02/2016 (207.55) 207.55 0.00 100.00000% 0.00 1,177,237.55 01/04/2017 (282.80) 282.80 0.00 100.00000% 0.00 1,177,520.35 02/02/2017 (381.33) 381.33 0.00 100.00000% 0.00 1,177,901.68 03/02/2017 (377.65) 377.65 0.00 100.00000% 0.00 1,178,279.33 04/04/2017 (470.28) 470.28 0.00 100.00000% 0.00 1,178,749.61 05/02/2017 1,163.08 556.53 1,719.61 100.00000% 1,719.61 1,177,586.53 06/02/2017 (641.39) 641.39 0.00 100.00000% 0.00 1,178,227.92 07/05/2017 (715.90) 715.90 0.00 100.00000% 0.00 1,178,943.82 08/02/2017 (854.19) 854.19 0.00 100.00000% 0.00 1,179,798.01 09/05/2017 (874.66) 874.66 0.00 100.00000% 0.00 1,180,672.67 09/30/2017 0.00 866.87 866.87 100.00000% 866.87 1,180,672.67 10/03/2017 (866.87) 0.00 (866.87) 100.00000% (866.87) 1,181,539.54 10/08/2017 1,181,539.54 231.29 1,181,770.83 100.00000% 1,181,770.83 0.00 $0.00 $8,274.21 $8,274.21 $8,274.21 Investment Yield for Reserve Fund: 0.140368% 2044001 - - $15,990,000 Computation End Date: 10/08/2017 Monday, November 6, 2017 1:44 pm Page 1 of 2
$15,990,000 INVESTMENT CASHFLOW BY FUND L4 - Project Fund Transaction Date Principal Interest Total Percentage Amount Balance 10/10/2012 (491,809.19) 0.00 (491,809.19) 100.00000% (491,809.19) 491,809.19 10/11/2012 310,725.36 0.00 310,725.36 100.00000% 310,725.36 181,083.83 12/07/2012 8,937.25 0.00 8,937.25 100.00000% 8,937.25 172,146.58 12/19/2012 2,600.00 0.00 2,600.00 100.00000% 2,600.00 169,546.58 01/09/2013 30,947.80 0.00 30,947.80 100.00000% 30,947.80 138,598.78 03/06/2013 138,598.78 0.00 138,598.78 100.00000% 138,598.78 0.00 $0.00 $0.00 $0.00 $0.00 Investment Yield for Project Fund: 0.000000% Grand Total: $ 0.00 $ 8,274.21 $ 8,274.21 $ 8,274.21 2044001 - - $15,990,000 Computation End Date: 10/08/2017 Monday, November 6, 2017 1:44 pm Page 2 of 2
$15,990,000 TOTAL INVESTMENT CASHFLOW AND YIELD ON ALL FUNDS Present Value Transaction Present 10/10/2012 Date Principal Interest Total Value Factor 0.138794% 10/10/2012 (1,668,839.19) 0.00 (1,668,839.19) 1.0000000 (1,668,839.19) 10/11/2012 310,725.36 0.00 310,725.36 0.9999961 310,724.16 12/07/2012 8,937.25 0.00 8,937.25 0.9997803 8,935.29 12/19/2012 2,600.00 0.00 2,600.00 0.9997341 2,599.31 01/09/2013 30,947.80 0.00 30,947.80 0.9996570 30,937.19 03/06/2013 138,598.78 0.00 138,598.78 0.9994375 138,520.81 01/05/2016 (15.51) 15.51 0.00 0.9955201 0.00 02/02/2016 (108.72) 108.72 0.00 0.9954165 0.00 03/02/2016 (153.40) 153.40 0.00 0.9953014 0.00 04/04/2016 (185.95) 185.95 0.00 0.9951787 0.00 04/05/2016 277.63 0.00 277.63 0.9951748 276.29 05/03/2016 (172.73) 172.73 0.00 0.9950674 0.00 06/02/2016 (189.95) 189.95 0.00 0.9949562 0.00 07/05/2016 (186.15) 186.15 0.00 0.9948297 0.00 08/02/2016 (201.56) 201.56 0.00 0.9947262 0.00 09/02/2016 (210.41) 210.41 0.00 0.9946112 0.00 10/01/2016 (211.01) 211.01 0.00 0.9945000 0.00 11/02/2016 (178.38) 178.38 0.00 0.9943812 0.00 11/15/2016 1,536.14 0.00 1,536.14 0.9943314 1,527.43 12/02/2016 (207.55) 207.55 0.00 0.9942662 0.00 01/04/2017 (282.80) 282.80 0.00 0.9941436 0.00 02/02/2017 (381.33) 381.33 0.00 0.9940363 0.00 03/02/2017 (377.65) 377.65 0.00 0.9939214 0.00 04/04/2017 (470.28) 470.28 0.00 0.9937989 0.00 05/02/2017 1,163.08 556.53 1,719.61 0.9936916 1,708.76 06/02/2017 (641.39) 641.39 0.00 0.9935767 0.00 07/05/2017 (715.90) 715.90 0.00 0.9934504 0.00 08/02/2017 (854.19) 854.19 0.00 0.9933470 0.00 09/05/2017 (874.66) 874.66 0.00 0.9932207 0.00 09/30/2017 0.00 866.87 866.87 0.9931250 860.91 10/03/2017 (866.87) 0.00 (866.87) 0.9931135 (860.90) 10/08/2017 1,181,539.54 231.29 1,181,770.83 0.9930944 1,173,609.94 $0.00 $8,274.21 $8,274.21 $0.00 2044001 - - $15,990,000 Computation End Date: 10/08/2017 Monday, November 6, 2017 1:44 pm Page 1 of 1
Schedules Relating to the Computation of the Rebate Amount
$15,990,000 COMPUTATION OF THE REBATE AMOUNT Future Value 10/08/2017 Transaction Date Principal Interest Total Future Value Factor 6.102820% 10/10/2012 (1,668,839.19) 0.00 (1,668,839.19) 1.3501884 (2,253,247.24) 10/11/2012 310,725.36 0.00 310,725.36 1.3499629 419,467.71 12/07/2012 8,937.25 0.00 8,937.25 1.3373978 11,952.66 12/19/2012 2,600.00 0.00 2,600.00 1.3347205 3,470.27 01/09/2013 30,947.80 0.00 30,947.80 1.3302703 41,168.94 03/06/2013 138,598.78 0.00 138,598.78 1.3176685 182,627.25 01/05/2016 (15.51) 15.51 0.00 1.1114920 0.00 02/02/2016 (108.72) 108.72 0.00 1.1064920 0.00 03/02/2016 (153.40) 153.40 0.00 1.1009627 0.00 04/04/2016 (185.95) 185.95 0.00 1.0950953 0.00 04/05/2016 277.63 0.00 277.63 1.0949124 303.98 05/03/2016 (172.73) 172.73 0.00 1.0898049 0.00 06/02/2016 (189.95) 189.95 0.00 1.0845402 0.00 07/05/2016 (186.15) 186.15 0.00 1.0785801 0.00 08/02/2016 (201.56) 201.56 0.00 1.0737281 0.00 09/02/2016 (210.41) 210.41 0.00 1.0683626 0.00 10/01/2016 (211.01) 211.01 0.00 1.0632014 0.00 11/02/2016 (178.38) 178.38 0.00 1.0577118 0.00 11/15/2016 1,536.14 0.00 1,536.14 1.0554182 1,621.27 12/02/2016 (207.55) 207.55 0.00 1.0524263 0.00 01/04/2017 (282.80) 282.80 0.00 1.0468176 0.00 02/02/2017 (381.33) 381.33 0.00 1.0419344 0.00 03/02/2017 (377.65) 377.65 0.00 1.0367278 0.00 04/04/2017 (470.28) 470.28 0.00 1.0312027 0.00 05/02/2017 1,163.08 556.53 1,719.61 1.0263924 1,764.99 06/02/2017 (641.39) 641.39 0.00 1.0212634 0.00 07/05/2017 (715.90) 715.90 0.00 1.0156511 0.00 08/02/2017 (854.19) 854.19 0.00 1.0110822 0.00 09/05/2017 (874.66) 874.66 0.00 1.0055258 0.00 09/30/2017 0.00 866.87 866.87 1.0013368 868.03 10/03/2017 (866.87) 0.00 (866.87) 1.0008353 (867.59) 10/08/2017 1,181,539.54 231.29 1,181,770.83 1.0000000 1,181,770.83 $0.00 $8,274.21 $8,274.21 $(409,098.90) 10/08/2013 (1,590.00) 1.2718372 (2,022.22) Computation Credit 10/08/2014 (1,620.00) 1.1976327 (1,940.17) Computation Credit 10/08/2015 (1,650.00) 1.1277576 (1,860.80) Computation Credit 10/08/2016 (1,650.00) 1.0619593 (1,752.23) Computation Credit 10/08/2017 (1,670.00) 1.0000000 (1,670.00) Computation Credit $(8,180.00) $(9,245.42) $94.21 $(418,344.32) REBATE AMOUNT 2044001 - - $15,990,000 Computation End Date: 10/08/2017 Monday, November 6, 2017 1:50 pm Page 1 of 1
$15,990,000 INVESTMENT SUMMARY BY FUND DURING THE COMPUTATION PERIOD Fund Inv Avg Daily Bal or Purch # Investment Description Par Cost of Principal Date Maturity Date Days O/S Bond Yield: 6.102820% Invest Coupon Interest Yield Reserve Fund 2 Money Market Fund - 1,177,390.68 10/10/12 10/08/17 1,824-8,274.21 0.140368% (403,750.69) $8,274.21 Rebate ($403,750.69) Project Fund 4 Money Market fund - 164,635.08 10/10/12 03/06/13 147-0.00 0.000000% (5,348.21) Adjustments $0.00 ($5,348.21) Computation Credit - - 10/08/13 (1,590.00) (2,022.22) Computation Credit - - 10/08/14 (1,620.00) (1,940.17) Computation Credit - - 10/08/15 (1,650.00) (1,860.80) Computation Credit - - 10/08/16 (1,650.00) (1,752.23) Computation Credit - - 10/08/17 (1,670.00) (1,670.00) ($8,180.00) ($9,245.42) Grand Total: $94.21 ($418,344.32) (1) = Multiple Purchase (2) = Total Early Sale (3) = Partial Early Sale Computation End Date: Monday, November 6, 2017 10/08/2017 1:50 pm Page 1 of 1