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<br />
<br />City of Martinsville, Virginia
<br />Potential General Obligation Refunding of Series 1999 GO
<br />2005
<br />
<br />Debt Service Comparison
<br />
<br />Date
<br />
<br />07/15/2006
<br />07/l5/2007
<br />07/15/2008
<br />07/15/2009
<br />07/l5/20 1 0
<br />07/l5/20 II
<br />07/15/2012
<br />07/15/2013
<br />07/15/2014
<br />07/l5/20 15
<br />07/l5/20 16
<br />07/l5/20 1 7
<br />07/15/2018
<br />07/l5/20 19
<br />
<br />Total P+I
<br />107,668.44
<br />119,462.50
<br />118,732.50
<br />123,002.50
<br />322,090.00
<br />323,877.50
<br />325,300.00
<br />321,357.50
<br />322,232.50
<br />_ J22,'7i2JO
<br />322,887.50
<br />322,667.50
<br />317,082.50
<br />321,315.00
<br />
<br />$3,690,41844
<br />
<br />Total
<br />
<br />Existing D/S
<br />202,427.50
<br />205,117.50
<br />202,197.50
<br />203,872.50
<br />
<br />Net New D/S Old Net D/S Savings
<br />306,672.16 326,410.00 19,737.84
<br />324,580.00 329,100.00 4,520.00
<br />320.930.00 326,] 80.00 5,250.00
<br />326.875.00 327,855.00 980.00
<br />322,090.00 , 3.~8,982.50 6, 8~_2.50
<br />323,877.50 329,450.00 5,572.50
<br />325,300.00 329,345.00 4.045.00
<br />32] ,357.50 328,65750 7.300.00
<br />322,232.50 327,377.50 5,]45.00
<br />322,742.~0_ 3.2~,495.00 ~, 752.50
<br />322,887.50 328,000.00 5,] 12.50
<br />322,667.50 329,500.00 6,832.50
<br />3] 7,082.50 325,250.00 8,167.50
<br />321,315.00 325,500.00 4,]85.00
<br />$4,500,609.66 $4,587,102.50 $86,492.84
<br />
<br />$813,615.00
<br />
<br />PV Analysis Summary (Net to Net)
<br />
<br />Gross PVDebt Service Savin,gs
<br />
<br />Net PV Cashtlo",Sa.v~ngs@~0!<>(fIS:2,_
<br />
<br />Contin~~cy or R.Ollndin~_A_rmUl1t
<br />Net Present Value Benefit
<br />
<br />~tPV~en_etit /_$_2~5~,()()0~funded.J'rincipal
<br />Net P,V Benefit 1.~2,745,000 ~.f"urldingl!incip.a1
<br />
<br />Refunding Bond Information
<br />
<br />68,()08.12
<br />
<br />68~OQ8.12
<br />
<br />_, . ..l.i~3,7~
<br />_ _E!,'l~!.9_o..
<br />
<br />2.8]2%
<br />- ---------
<br />2.602%
<br />
<br />IMundingr>,aed[)ate ,
<br />R~fun.clil1g Deli.v.ery Date
<br />
<br />8/31/2005
<br />-----------_._.~-
<br />8/31/2005
<br />
<br />2005 Refunding Series '99 I SINGLE PURPOSE I 7/27/2005 1 6:27 PM
<br />
<br />Davenport & Company LLC
<br />Public Finance
<br />
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