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City of Martinsville, Virginia
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<br />Estimated Literary Fund Anticipation Note/
<br />Long-Term Literary Fund Loan
<br /> Payment Schedule
<br />
<br /> Ke~ Assumptions:
<br />ISizo of Borrowing: $2,500,000I
<br />Interim Ratc: 3.00%[
<br /> Lon~ Tcrm Literary Loan Note Rat~ 2.00%]
<br />
<br />Fiscal
<br />year ,,Principal Interest .Total
<br />
<br />2006 $0 $0 $0
<br />2007 0 75,000 75,000
<br />2008 0 75,000 75,000
<br />2009 0 75,000 75,000
<br />2010 125,000 50,000 175,000
<br />2011 125,000 47,500 172,500
<br />2012 125,000 45,000 170,000
<br />2013 125,000 42,500 167,500
<br />2014 123,000 40,000 165,000
<br />2015 125,000 37,500 162,500
<br />2016 125,000 35,000 160,000
<br />2017 125,000 32,500 157,500
<br />2018 125,000 30,000 155,000
<br />2019 125,000 27,500 152,500
<br />2020 125,000 25,000 150,000
<br />2021 125,000 22,500 147,500
<br />2022 125,000 20,000 145,000
<br />2023 125,000 17,500 142,500
<br />2024 125,000 15,000 140,000
<br />2025 125,000 12,500 137,500
<br />2026 125,000 10,000 135,000
<br />2027 125,000 7,500 132,500
<br />2028 125,000 5,000 130,000
<br />2029 125,000 ' 2,500 127,500
<br />
<br />Total $2,500,000 $750,1}00 $3,250,000
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<br />Prepared by Davenport & Company LLC
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