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Memorandum # 2 <br />To: Billy, HP David Hartwi and Randy Curtis <br />From: Bob <br />~~~~~~A~~- ~~6~ Y~ZB <br />~i~G~C~'~`~3 ~ ~ ~ ~' 2Z.R ~ <br />Date: August 23, 1999 <br />Re: Debt Service for Courthouse Square -- Engaging the Issue <br />The attached is a Draft of the Debt Service for Courthouse Square dated August 23, <br />1999, which I have reconciled with the debt service material sent to Hitesch by Scott <br />Clements. <br />This debt services assumes the $2,000,000 remains in the construction account and the <br />BOC elects to buy back or call all the 2023 bonds and a portion of the 2022 bonds. <br />The first year out debt service will be$1,595,760.00. In the second year the debt service <br />will decrease to $1,494,010.00, and the debt service will remain in the vicinity of $1.494 <br />million for the term of the bonds. <br />QLTESTION: ASAP, WHAT IS WRONG WITH THIS ANALYSIS ? With these <br />numbers, is there any way the rental rate for the county departments can be $1.20 per <br />foot? The most recent printout of square footage indicates a gross square footage for the <br />county at 124,000 and a net departmental square footage at approximately 100,000 square <br />feet. <br />Laverne will be in contact with you all to schedule a meeting to discuss this issue, unless <br />someone can find fault with this analysis. I hope you do, really, I do. I must be missing <br />something in this transaction. I'm looking for answers. <br />C~ ; 1''I~ke ~-a~s~r~ <br />~~~ _ 5~ ~~ <br />