Loading...
020916wsa Agenda Package9 :00am 9:15am 9:45am 10:00 am 10:15 am 10:30 am !1:15am 11:30 am Harnett County Board of Commissioners Work Session Tuesday, February 9, 2016 9:00am Cooperative Extension COLA Discussion, Cooperative Extension Director Tyrone Fisher Funding for DNA testing in criminal cases, Major Gary C. McNeill Campbell University's request for two Harnett County EMS crews on site for Big South Basketball Tournament games, Emergency Services Director Jimmy Riddle Public Utilities Debt Payoff discussion, Finance Officer Kimberly Honeycutt County Manager's Report: -Town of Erwin's request to fund their Depot project -February 15 ,2016 Regular Meeting Agenda Review Closed Session Update on new Benhaven School , Superintendent Stan Williams Adjourn 020916wsa HC BOC Page 1 Gina Wheeler From: Tyrone Fisher Sent: Wednesday, January 27, 2016 10:53 AM To: Cc: Abe Elmore; Abe Elmore-External; Barbara McKoy; Barbara McKay-External; Brian Haney; Dwight Snow; Gina Wheeler; Gordon Springle; Jim Burgin; Joe Miller; Joseph Jeffries; Paula Stewart Nikki Kurdys Subject: Cooperative Extension County COLA Discussion HarnettCoopExtFiowChartFundingwithPosition010116.doc; HarnettCoopExtFiowChartProgramswithPosition010116.doc Attachments: Importance: High Great discussion yesterday, hopefully we can get on the same page, look forward to a resolution. Attached Cooperative Extension Program and Funding Flow Charts as well as our MOU To follow-up from questions from yesterday 1) Example using simple #s current involving COLA: County Employee, $100,000, 2% County COLA, New Salary $102,000 County/State Split Employee, 50%/50%, $100,000, 2% County COLA, New Salary, $101,000 County/State Split Employee, 70%/30%, $100,000, 2% County COLA, New Salary, $101,400 Even if you add the "one-time" state bonus of $750, the "county" employee still has a better benefit over the long-term. 2) Recently, the state raised the salary of a county/state position that was below entry level. The position was 70% County-30% State, the new calculation is now 69% County-31% State, the percentage changed and the state did not ask the county to give more, the state increased their funding to meet this need, the county still pays the same dollar amount. Within the last six months, 46 of the eligible 63 "send-in" counties have given county COLAs to county/state split positions. As oftoday, there are 37 "lock-in" counties, please review Section 8 of the MOU, this may be a resolution ifthe county COLA is not approved. Call me, reply, or stop by to discuss more if needed. I am making plans for a NCSU representative to join me at the February gth work session. 1 020916wsa HC BOC Page 2 H a r n e t t Co u n t y Co o p e r a t i v e Ex t e n s i o n Or g a n i z a t i o n a l Ch a r t Pr o g r a m Ar e a s De b b i e By r d Gr e g Hu n e y cutt Ju d y M . D' E r e d it a (A r e a ) . . De b b i e Step h e n son Yv o n n e Or m o n d Me la nie Gr ah a m [ · CR D (1 ) )j r . ; : : l ~ La u r e n ] Mc D o w e l l . - ' Sh e ll y L - Hu m ph r ey Fa m U y & 11 Co n s u m e r Sc i e n c e s (8) - :..:_) Pa t r i c ia McKoy Jackie Helton Christina Jolly Alia Langdon· Williford 020916wsa HC BOC Page 3 ,. Ha r n e t t Co u n t y Co o p e r a t i v e Ex t e n s i o n Or g a n i z a t i o n a l Ch a r t Fu n d i n g Re s o u r c e s ~ '· : . ~ ~ ·.~ " ' > •. ~·· .; [ ·- - - - - . , ~ De b b i e By r d Te e n s as Pa r e nts D . . . . .. Me l a n ie Gr a h a m Par e n ts as T ea ch e r s l Pr i v a t e ( 1) _ j La u r e n McDo w ell Ch i l d c a r e Co o r d i n a t o r Ll~""=- 11 Pa t r i c ia McKoy 4·H Pr o g r a m Assistant tOO% County (2) Alia Langdon·WIIUront 4-H Teen Court 020916wsa HC BOC Page 4 Office of the Sheriff of Harnett County Sheriff Larry Rollins PO Box 399 175 Bain Street, Lillington, NC 27546 Phone: 910-893-9111; Fax: 910-893-6450 TO: Harnett County Board of Commissioners DATE: Feb. 3, 2016 REFERENCE: Using DNA to Solve Crimes The past decade has seen great advances in a powerful criminal justice tool: deoxyribonucleic acid, or DNA. DNA can be used to identify criminals with incredible accuracy when biological evidence exists. By the same token, DNA can be used to clear suspects and exonerate persons mistakenly accused or convicted of crimes. In all, DNA technology is increasingly vital to ensuring accuracy and fairness in the criminal justice system Harnett County already has had success using NMS Lab to develop DNA to solve crimes and assist in the investigation of cold cases. We have two cold cases that NMS lab has develop partial DNA profiles which the SBI lab had not developed. In one case, Christine Poole Homicide in 1997, NMS Lab was able to develop partial profile which eliminated several of the individuals that were on the suspect list. In the Floyd Blalock from 1989, NMS Lab was able to locate a partial DNA profile that the SBI Lab was did not develop. In a 2011 Homicide, we submitted evidence that the SBI Lab had not tested. NMS lab developed a DNA profile and matched it to the suspect in the case. News stories extolling the successful use ofDNA to solve crimes abound. For example, in 1999, New York authorities linked a man through DNA evidence to at least 22 sexual assaults and robberies that had terrorized the city. In 2002, authorities in Philadelphia, Pennsylvania, and Fort Collins, Colorado, used DNA evidence to link and solve a series of crimes (rapes and a murder) perpetrated by the same individual. In the 2001 "Green River" killings, DNA evidence provided a major breakthrough in a series of crimes that had remained unsolved for years despite a large law enforcement task force and a $15 million investigation. DNA is generally used to solve crimes in one oftwo ways. In cases where a suspect is identified, a sample of that person's DNA can be compared to evidence from the crime scene. The results of this comparison may help establish whether the suspect committed the crime. In cases where a suspect has not yet been identified, biological evidence from the crime scene can be analyzed and compared to offender profiles in DNA databases to help identify the perpetrator. Crime scene evidence can also be linked to other crime scenes through the use of DNA databases. For example, assume that a man was convicted of sexual assault. At the time of his conviction, he was required to provide a sample of his DNA, and the resulting DNA profile was entered into a DNA database. Several years later, another sexual assault was committed. A Sexual Assault Nurse Examiner worked with the victim and was able to obtain biological evidence from the rape. This evidence was analyzed, the resulting profile was run against a DNA database, and a match was made to the man's DNA profile. He was apprehended, tried, and sentenced for his second crime. In this hypothetical case, he was also prevented from committing other crimes during the period of his incarceration. 020916wsa HC BOC Page 5 Office of the Sheriff of Harn ett County Sher iff Larry Rollins PO Box 599 175 Bain Street, Lillington, NC 27546 Phone: 910-895-9111; Fax: 910-895-6450 DNA evidence is generally linked to DNA offender profiles through DNA databases. In the late 1980s, the federal government laid the groundwork for a system of national , state, and local DNA databases for the storage and exchange of DNA profiles. This system, called the Combined DNA Index System (CODIS), maintains DNA profiles obtained under the federal , state, and local systems in a set of databases that are available to law enforcement agencies across the country for law enforcement purposes. COD IS can compare crime scene evidence to a database of DNA profiles obtained from convicted offenders. CODIS can also link DNA evidence obtained from different crime scenes, thereby identifying serial criminals. In order to take advantage of the investigative potential of COD IS, in the late 1980s and early 1990s, states began passing laws requiring offenders convicted of certain offenses to provide DNA samples. Currently all 50 states and the federal government have laws requiring that DNA samples be collected from some categories of offenders. When used to its full potential, DNA evidence will help solve and may even prevent some of the Nation's most serious violent crimes. However, the current federal and state DNA collection and analysis system needs improvement: (1) In many instances, public crime labs are overwhelmed by backlogs of unanalyzed DNA samples. (2) In addition, these labs may be ill -equipped to handle the increasing influx of DNA samples and evidence. The problems of backlogs and lack of up-to-date technology result in significant delays in the administration of justice. The Harnett County Detective Division will present a presentation that will highlight the advantages in us ing ofNMS lab to assist in the investigation of crimes in Harnett County. 020916wsa HC BOC Page 6 CAMPBELL U N V E R S January 27 ,2016 Mr. Joseph Jeffries Harnett County Manager 102 East Front Street Lillington, NC 27546 Dear Mr. Jeffries: T y RECEIVED FEB 0 2 201~ HARNETT COUNTY MANAGER'S OFFICE Office of the Vice Presiden t for Bu siness and Treasurer As you are aware, Campbell University is the host site for this year's Big South Basketball Tournament. It will be held in Buies Creek from March 3-6. There will be 10 games during this time frame. We respectfully request Harnett County provide two EMS crews on site for each of the tournament games at no cost to the University. We work closely with the Buies Creek Fire and Rescue and they are wonderful to work with throughout the season. We would hope the County would cover these costs since so many people will be here from out of the area and staying in motels throughout the county. These dates and times are included below for your use. March 3 March 4 March 5 March 6 1 :00 pm until10:00 pm 11:00 AM until midnight Noon until 7:00 pm 1:30pm (3 games beginning at 2 :00pm; 4:30 pm; 7:00 pm) (4 games beginning at Noon; 2:30 pm; 6:00 pm and 8 :30 pm) (2 games beginning at 1:00 pm and 4:00 pm) (1 game starting at 2:30 pm) We thank the county for all the many things they do a s partners with Campbell University. This is a very special event bringing thousand s of people to our county. In case of emergency we want to put out best foot forward. Contact me if you need additional information. I look forward to hearing from you soon. Sincerely, President for Business and Treasurer cc: Mr. Bob Roller , Athletics Director PO Box 97 • Bu ies Creek, Norrh Carolin a 27506 • (9 10) 893-1240 www.campbell.edu 020916wsa HC BOC Page 7 Potential Pa y o f f of Pu b l i c Ut i l i t y De b t Harnett County, No r t h Ca r o l i n a Harnett COUNTY flP ~ CARO~INA December 22. 2015 D A V E N P O R T & C o M P A N Y IV )1 <; [ , i f i ' J . . A S / P , 02 0 9 1 6 w s a H C B O C P a g e 8 Overview of Po t e n t i a l Pa y o f f o f Pu b l i c Ut i l i t y De b t -Ha r n e t t C O U N T Y • The County may want to co n s i d e r pa y i n g o f f a nu m b e r of it s ou t s t a n d i n g Pu b l i c Ut i l i t i e s lo a n s as a po t e n t i a l in v e s t m e n t opportunity. - - Candidate I n t e r e s t R a t e Pa r A m o u n t O u t s t a n d i n g Fi n a l M a t u r i t y Ca l l D a t e -1 1996 Expansion of Water Trea t m e n t P l a n t - St a t e Bo n d Lo a n 1 5 . 8 5 0 % $ 1 5 0 ,0 0 0 . 0 0 5/ 1 / 2 0 1 6 Cu r r e n t 2 1997 Expansion of Water Trea t m e n t P l a n t - St a t e Bo n d Lo a n 1 3 . 2 1 5 % $ 3 0 0 , 0 0 0 . 0 0 5 / 1 / 2 0 1 7 Cu r r e n t 3 1998 Southwest Water & Sew e r D i s t r i c t - St a t e Bo n d Lo a n 1 3 . 4 3 0 % $ 2 8 2 , 4 2 0 . 9 9 5 / 1 / 2 0 1 7 Cu r r e n t 4 2001 Harnett 1 Wake Transmi s s i o n Li n e - St a t e Bo n d Lo a n 1 5 . 2 5 0 % $ 2 1 6 . 0 1 1 . 7 5 5 / 1 / 2 0 2 0 Cu rre n t - _ . , __ _ _ - 5 2003 Southwest Reg1onallll - S t a t e Bo n d Lo a n 1 4 . 0 2 0 % $ 3 6 8 , 4 2 1 . 0 4 5 / 1 / 2 0 2 2 Cu r r e n t 6 2004 IPC {Wells Fargo):> 4 . 5 1 0 % $ 5 6 0 . 0 0 0 . 0 0 6/ 1 / 2 0 1 9 6 / 8 / 2 0 1 6 ~ - - - - 7 2004 South Central Bunnlevel Ri v e r s i d e Re f u n d m g GO 5. 0 0 0 % - 5. 2 5 0 % $ 3 9 0 , 0 0 0 . 0 0 6/ 1 / 2 0 2 8 Cu r r e n t For purposes of thiS analySIS. the Co u n t y St a t e Bon d Loa n s ar e as s u m e d to be ca l l a b l e at an y t1 m e at pa r . Fu r t h e r 1n fo r m a t1 o n on t he ca l l pr o v 1 s 1 o n s IS re q u 1re d to re f l l l e t hiS an a l y S I S . 7 The County's San1tary Sewer IPC w1th We l l s Fargo IS no t ca l l a b l e un t i l Ju n e 8. 2 0 1 6 . Co n f 1rm a t1 o n of th 1 s ca l l pr o v 1 s 1 o n sh o u l d be co n f i r m e d w1 t h We l l s Fa r g o . Ca l l Pr i c e 1 0 0 % 1 0 0 % 1 0 0 % 10 0 % - - 1 0 0 % 1 0 1 % 1 0 0 % DAVENPORT&COM P A N Y - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - )~ ' ~ " r m b e r 22 20 1 ' 5 ar ' l e t • Co u n t v NC 1 02 0 9 1 6 w s a H C B O C P a g e 9 Payoff Savings - To t a l Ha r n e t t C O U N T Y Loan 1 9 9 6 - SB L 1 9 9 7 - SB L 1 9 9 8 - SB L 2 0 0 1 - SB L 2 0 0 3 - SB L 2 0 0 4 - IP C 2 0 0 4 - GO To t a l - - - - - - - Sources of Funds -FY 2016 Budget $ 1 5 0 , 6 1 3 . 0 2 $ 15 4 . 8 2 2 . 5 0 $ 14 6 , 0 5 4 . 0 5 $ 48 . 8 7 2 . 6 6 $ 60 , 0 3 6 . 8 4 $ 15 2 , 6 2 8 . 0 0 $ 34 , 9 0 0 . 0 0 $ 74 7 . 9 2 7 . 0 7 Additional Equ1ty Inves t m e n t 14 8 . 0 4 4 . 2 1 1 3 9 . 2 4 6 . 1 4 17 0 . 5 0 9 . 7 7 31 2 . 7 8 6 . 2 2 42 5 . 9 6 8 . 3 2 35 9 . 3 3 5 . 0 0 1. 5 55 . 8 8 9 . 6 6 Total Cash Payoff $ 1 5 0 , 6 1 3 . 0 2 $ 3 0 2 , 8 6 6 . 7 1 $ 2 8 5 , 3 0 0 . 1 9 $ 2 1 9 ,3 8 2 . 4 3 $ 3 7 2 , 8 2 3 . 0 6 $ 5 7 8 , 5 9 6 . 3 2 $ 3 9 4 , 2 3 5 . 0 0 $ 2 , 3 0 3 ,8 1 6 . 7 3 Uses of Funds Par Amount $ 15 0 , 0 0 0 . 0 0 $ 30 0 . 0 0 0 . 0 0 $ 28 2 , 4 2 0 . 9 9 $ 21 6 . 0 1 1 . 7 5 $ 36 8 , 4 2 1 . 0 4 $ 56 0 , 0 0 0 . 0 0 $ 39 0 , 0 0 0 . 0 0 $ 2, 2 6 6 , 8 5 3 . 7 8 Accrued Interest 61 3 . 0 2 2 .86 6 . 7 1 2. 8 7 9 . 2 0 3. 3 7 0 . 6 8 4. 4 0 2 . 0 2 12 . 9 9 6 . 3 2 4. 2 3 5 .00 31 . 3 6 2 .9 5 Prepayment Penalty 5, 6 0 0 . 0 0 5. 6 0 0 . 0 0 Total Uses of Funds $ 1 5 0 . 6 1 3 . 0 2 $ 3 0 2 . 8 6 6 .7 1 $ 2 8 5 , 3 0 0 . 1 9 $ 2 1 9 , 3 8 2 . 4 3 $ 3 7 2 , 8 2 3 . 0 6 $ 5 7 8 , 5 9 6 . 3 2 $ 3 9 4 . 2 3 5 .0 0 $ 2 . 3 0 3 , 8 1 6 . 7 3 -- - - - Bonds Refunded Amount $ 15 0 , 0 0 0 . 0 0 $ 3 0 0 , 0 0 0 . 0 0 $ 28 2 . 4 2 0 . 9 9 $ 21 6 , 0 1 1 . 7 5 $ 3 6 8 , 4 2 1 . 0 4 $ 56 0 , 0 0 0 .0 0 $ 39 0 . 0 0 0 . 0 0 $ 2. 2 6 6 , 8 5 3 . 78 Mat unties 5 / 1 / 2 0 1 6 5 / 1 / 1 6 - 5 / 1 / 1 7 5 / l . / 1 6 - 5 / 1 / 1 7 5 / 1 / 1 6 - 5/ 1/ 2 0 5 / 1 / 1 6 - 5/ 1/ 22 6/ 1/ 1 6 - 6/ 1 / 1 9 6 / 1 / 1 6 . 6 / 1 / 2 8 NjA Coupon(s) 5. 8 5 % 3. 2 2 % 3. 4 3 ') 1 , 5. 2 5 % 4. 0 2 % 4. 5 1 % 5. 0 0 % - 5. 2 5 % N/ A Call Date Cu r ren t Cu r r e n t Cu r r e n t Cu r r e n t Cu r r e n t 42 5 2 9 Cu r r e n t N/ A Call Pnce 10 0 % 1 0 0 % 1 0 0 % 10 0 % 1 0 0 % 10 1 % 1 0 0 % N/ A Net Savings1 - - - - - - Fiscal Year 2016 $ 3, 2 5 4 .8 7 $ {14 9 . 0 8 9 . 1 0 ) $ (1 4 0 . 2 3 0 . 4 3 ) $ {1 71 . 2 6 6 . 6 4 ) $ {3 1 4 .07 2 . 4 6 ) $ {4 2 7 . 9 6 4 .4 8 ) $ (3 6 0 . 6 9 5 .1 1 ) $ {1 . 5 6 0 .0 6 3 . 3 5 ) 2017 15 2 . 7 3 2 . 7 2 14 4 . 0 8 5 . 4 0 50 . 7 6 1 . 1 1 62 . 7 5 3 . 8 4 15 4 . 9 4 9 . 6 8 4 0 .8 2 9 . 7 8 60 6 . 1 1 2 . 5 3 2018 48 . 4 9 2 . 9 9 60 , 6 3 8 . 0 4 14 8 , 6 3 5 . 6 8 3 9 ,57 9 . 7 8 29 7 , 3 4 6 . 4 9 2019 46 . 2 2 4 . 8 5 58 . 5 2 2 . 2 6 14 2 . 3 2 1 . 6 8 43 . 3 2 9 .78 29 0 . 3 9 8 .57 2020 43 .9 5 6 .73 56 . 4 0 6 . 4 6 4 1 .82 9 . 7 8 14 2 , 1 9 2 . 9 7 2021 54 . 2 9 0 . 6 8 4 0 .32 9 . 7 8 94 . 6 2 0 . 4 6 2022 52 . 1 7 4 . 8 6 38 . 7 5 4 . 7 8 90 .92 9 . 6 4 2023 37 . 1 7 9 . 7 8 37 . 1 7 9 . 7 8 2024 35 . 6 0 4 . 7 8 35 , 6 0 4 . 7 8 2025 34 . 0 2 9 . 7 8 3 4 . 0 2 9 . 7 8 - - - - - 2026 37 . 5 2 9 . 7 8 3 7 . 5 2 9 . 7 8 - 2027 35 . 7 7 9 . 7 8 3 5 . 7 7 9 . 7 8 2028 34 . 0 2 9 . 7 8 34 , 0 2 9 . 7 8 Total $ 3 . 2 5 4 . 8 7 $ 3 , 6 4 3 . 6 2 $ 3 , 8 5 4 . 9 7 $ 1 8 . 1 6 9 . 0 4 $ 3 0 , 7 1 3 . 6 8 $ 1 7 , 9 4 2 . 5 6 $ 9 8 . 1 1 2 . 2 5 $ 1 7 5 , 6 9 0 . 9 9 Net Present Value Sav i n g s $ 3. 2 5 4 . 8 7 $ 3. 6 4 3 . 6 2 $ 3. 8 5 4 . 9 7 $ 18 . 1 6 9 . 0 4 $ 30 . 7 1 3 . 6 8 $ 17 , 9 4 2 . 5 6 $ 98 . 1 1 2 . 2 5 $ 17 5 , 6 9 0 . 9 9 Net Present Value % Sa v i n g s 2. 1 7 "4 1 .2 1% 1. 3 6 '! t 8. 4 1 % 8. 3 4 % 3 . 2 0 % 25 . 1 6 % 7. 7 5 % Est1mated Earnmgs Ra t e" 5. 1 6 % 2. 5 3 % 2. 7 4 % 4. 5 6 % 3. 3 3 % 3 . 8 2 % 4. 3 1 % N/ A lnclu0c5-rorf>gon<> mvcstm c n l ea r n • n g s h. : t v c be e n ca l c u l a t e d ba s e d on lh e 1- Y e a r Tr e a su r y as or De c P m b e r 15 t h 10 .6 9 ). 'Estlm;)tPd b,Jc;;Pd on lnt<>r<' S I r, " l t e du E ' on Oo n d s IP s s fo q ~ o n ~ •n v E > s t m e n t ea rn m f ! _ c ; ra t e of 1-Y e a r Tr e as u r y . 1\Jote: Msurnf's <t p:1yoff date of 2 / l R / 16 [)AVENPORT&COM P A N Y - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - I)• .r : e · n b e r :? 2 . ? 0 L ') 1- l a rn e t t Co t . '1 t \ . :\ J C 2 02 0 9 1 6 w s a H C B O C P a g e 1 0 Payoff Saving s - 19 9 6 Ex p a n s i o n o f Wa t e r Tr e a t m e n t Pl a n t So u r c e s o f Fu n d s FY 20 1 6 Bu d g e t Ad d i t i o n a l Eq u 1 t y In v e s t m e n t To t a l Ca s h Pa y o f f Us e s of Fu n d s Pa r Am o u n t Ac c r u e d Int e r e s t Pr e p a y m e n t Pe n a l t y To t a I Us e s o f Fu n d s Bo n d s Re f u n d e d Am o u n t Ma t u n t 1 e s Co u p o n ( s l Ca l l Da t e Ca l l Pr i c e Sa v i n g s $ 15 0 , 6 1 3 .0 2 $ 1 5 0 , 6 1 3 . 0 2 $ 15 0 . 0 0 0 . 0 0 61 3 . 0 2 $ 1 5 0 , 6 1 3 . 0 2 $ 15 0 , 0 0 0 . 0 0 5 / 1 / 2 0 1 6 5. 8 5 % Cu r r e n t 10 0 % Fi s c a l Ye a r Ca s h Pa y o f f D e b t Se r v i c e Gr o s s Sa v i n g s Fo r g o n e In v e s t m e n t N e t Sa v i n g s 20 1 6 20 1 7 20 1 8 20 1 9 2 0 2 0 20 2 1 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 2 0 2 8 To t a l Ne t Pr e s e n t Va l u e Sa v i n g s Ne t Pr e s e n t Va l u e % Sa v m g s Es t 1 m a t e d Ea r n 1 n g s Ra t e 2 Sa v i n g s $ (1 5 0 , 6 1 3 . 0 2 ) $ 15 4 , 3 8 7 .5 0 $ 3, 7 7 4 . 4 8 $ $ (1 5 0 , 6 1 3 . 0 2 ) $ 1 5 4 . 3 8 7 . 5 0 $ 3 , 7 7 4 . 4 8 $ Fo r r g o n e mv c s t m c n t ea r n i n gs ha v e be e n ca l c u lat e d ba s e d on th e l· Y c J r Tr ' c a s u l ) ' as of Occ c r n b c r 15 t h 10 .6 9 ~-). E. s t u n a t e d ba C > e d on m t N e " t r< ' H f ' du e on bo n d s IPS s fo r g o n e 1n v e s t n w n t Pt t r n m g s ra t t ! uf l· Y e a r Tr e as u r v . No t e : A- < J s u r n c s n fk ' W O f f da t e of 2/ 1 8 / 1 6 Ea r n i n g s 1 .: : : . _ 5 1 - 9 - _ 6 _ 1 _ $ 3. 2 5 4 . 8 7 5 1 9 . 6 1 $ 3 . 2 5 4 . 8 7 $ 3, 2 5 4 .8 7 2. 1 7 % 5. 1 6 % Ha r n e t t C O U N T Y [)AVENPORT&COMPANY-- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - I)• :C ( ' I T ' J : I r ; r 2L . _· ( ) - - Hi l '" A t t Co I '1 t l NC 3 02 0 9 1 6 w s a H C B O C P a g e 1 1 Payoff Saving s - 19 9 7 Ex p a n s i o n o f Wa t e r Tr e a t m e n t Pl a n t So u r c e s o f Fu n d s FY 20 1 6 Bu d g e t Ad d i t i o n a l Eq u i t y In v e s t m e n t To t a l Ca s h Pa y o f f Us e s o f Fu n d s Pa r Am o u n t Ac c r u e d In t e r e s t Pr e pa y m e n t Pe n a l t y To t a l Us e s o f Fu n d s Bo n d s Re f u n d e d Am o u n t Ma t u n t 1 e s Co u p o n ( s ) Ca l l Da t e Ca l l Pr i c e Sa v i n g s $ 1 5 4 . 8 2 2 . 5 0 1 4 8 . 0 4 4 . 2 1 $ 3 0 2 , 8 6 6 . 7 1 $ 30 0 . 0 0 0 . 0 0 2 . 8 6 6 . 7 1 $ 3 0 2 , 8 6 6 . 7 1 $ 3 0 0 . 0 0 0 . 0 0 5 / 1 / 1 6 - 5 / 1 / 1 7 3. 2 1 5 % Cu r r e n t 10 0 % Fi s c a l Ye a r Ca s h Pa y o f f De b t Se r v i c e Sa v i n g s Gr o s s Sa v i n g s Fo r g o n e In v e s t m e n t Ne t Sa v i n g s 2 0 1 6 20 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5 2 0 2 6 2 0 2 7 2 0 2 8 To t a l Ne t Pr e s e n t Va l u e Sa v i n g s Ne t Pr e s e n t Va l u e % Sa v m g s Es t 1 m a t e d Ea r n 1 n g s Ra t e 2 $ (3 0 2, 8 6 6 . 7 1 ) $ 1 5 4 , 8 2 2 . 5 0 1 5 4 .8 2 2 . 5 0 $ (1 4 8 , 0 4 4 . 2 1 ) $ 1 5 4 . 8 2 2 . 5 0 $ (3 0 2 , 8 6 6 . 7 1 ) $ 3 0 9 . 6 4 5 . 0 0 $ 6, 7 7 8 . 2 9 $ 1 Fo r e g o n e '"" c s 1 m c n 1 ca r n m g s ha v e be e n ra l c u l a t c d ba s e d on th C ' l· Y C ' a r Tr eas u r y as of Dc cc rn b c r 1 5 t h (0 . 6 9 ~). Es t 1 m a t e d ba s e d on mt e r e s t ra t € ' du e on bo n d ~ le s s fo r g o n e mv c s t m e n t e ar n 1ng s rat P of 1-'r e a r Tr e a s u r y . No t e : As s u m e s a pa y o H da t e of 2/ 18 / 16 Ea r n i n g s 1 1 . 0 4 4 . 8 9 2 .0 8 9 . 7 8 $ (1 4 9 .0 8 9 . 1 0 ) 3 , 1 3 4 . 6 7 $ $ 1 5 2 . 7 3 2 . 7 2 3 . 6 4 3 . 6 2 3. 6 4 3 . 6 2 1. 2 1 % 2. 5 3 % Ha r n e t t C O U N T Y [)AVENPORT&COM P A N Y - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 'l9C · " ' 1 1 0 " l r 2: · . 2 0 ' 5 t- i a r " e t t CC . J ' 1 ' \ . NC 4 02 0 9 1 6 w s a H C B O C P a g e 1 2 Payoff Saving s - 19 9 8 So u t h w e s t Wa t e r & Se w e r Di s t r i c t So u r c e s o f Fun d s FY 20 1 6 Bu d g e t Ad d i t i O n a l Eq u 1 t y In ve s t m e n t To t a l Ca s h Pa y o f f Us e s of Fu n ds Pa r Am o u n t Ac c r u e d In t e r e s t Pr e p a y m e n t Pe n a l t y To ta l Us e s o f Fu n d s Bo nd s Re f u n d e d Am o u n t Ma t u n \ l e s Co u p o n ( s ) Ca l l Da t e Ca l l Pn c e Sa v i n g s $ 14 6 . 0 5 4 . 0 5 13 9 . 2 4 6 . 1 4 $ 2 8 5 , 3 0 0 . 1 9 $ 28 2 . 4 2 0 . 9 9 2. 8 7 9 .2 0 $ 2 8 5 , 3 0 0 . 1 9 $ 28 2 . 4 2 0 . 9 9 5 / 1 / 1 6 . 5 / 1 / 1 7 3. 4 3 % Cu r r e n t 10 0 % Fi s c a l Ye a r Ca s h Pa y o f f De b t Se r v i ce Sa v i n g s Gr os s Sa v i n g s For g o n e In v e s t m e n t N e t Sa v i n g s 20 1 6 20 1 7 20 1 8 20 1 9 20 2 0 20 2 1 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 To t a l Ne t Pr e s e n t Va l u e Sa v 1 n g s Ne t Pr e s e n t Va l u e · Sa v 1 n g s Es t 1 m a t e d Ea r n 1 n g s Ra t e ' $ (2 8 5 , 3 0 0 . 1 9 ) s 14 6 . 0 5 4 . 0 5 $ (1 3 9 , 2 4 6 . 1 4 ) $ 14 6 . 0 5 3 . 9 8 14 6 . 0 5 3 . 9 8 $ ( 2 8 5 , 3 0 0 . 1 9 ) $ 2 9 2 . 1 0 8 . 0 3 $ 6 , 8 0 7 . 8 4 $ Fc r q ? , o n c •n v c s t m C t l t f' < t r n l f ' • ha v e oc r n f, l i C u l : .t cd ba - ; c d on th e 1- Y c a r Tr e a s u r y ~ of Oc c e • l ' I X ' r 15 ' h f0 . 6 9 ). ES1 1 r f l ~ t f ' d b a s N ~"'I n .n t f ' l f ! " ' ' t t ra t P dt J ( ' or t ho n d s l{W ) ~ fo r g o n e tn v e s t m P f l : . ea f n :n~ c ; r- H P of 1 'I r a ~ Tr f ' a s u r y . 1\ o t r · A. . ' > s v m ~ a p: 1 y o t r d. 1 ' f ' of 2 / l k · 16 Ea r ni n gs 1 9 8 4 . 2 9 $ (1 4 0 . 2 3 0 . 4 3 ) 1. 9 6 8 . 5 8 2 , 9 5 2 . 8 7 $ $ 14 4 . 0 8 5 . 4 0 3 , 8 5 4 . 9 7 3. 8 5 4 . 9 7 1. 3 6 ' > 2. 7 4 ~ -Ha r n e t t C O U N T Y [)AVENPORT&COM P A N Y - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ,.· c ( ' r , h t > r "' 2 ?0 1 " 1 H .; n t v . NC s 02 0 9 1 6 w s a H C B O C P a g e 1 3 Payoff Saving s - 2 0 0 1 Ha r n e t t I Wa k e Tr a n s m i s s i o n Li n e DAvENPORT & CoMPANY So u rc es of Fu n d s FY 2 0 1 6 Bu d g e t Ad d i t ion a l Eq U i t y In ve st m e nt To ta l Ca s h Pa y o f f Us e s of Fu n d s Pa r Am o u n t Ac cru ec l Inte r e st Pr e p ay m e n t Pe n a l t y To ta l Us e s o f Fu n d s Bo n d s Re f u n d e d Am o u n t Mat u nt u ?s Co u p on(s ) Ca ll Dat e Ca l l Pr i c e - - - - $ 4 8 . 8 7 2 . 6 6 1 7 0 , 5 0 9 . 77 $ 2 1 9 , 3 8 2 . 4 3 -- $ 2 1 6 , 0 1 1 .7 5 3 .3 7 0 .6 8 $ 2 1 9 , 3 8 2 . 4 3 - - - $ 2 1 6 . 0 1 1 .75 5 / 1/ 1 6 - 5 / 1/ 2 0 5. 2 5 % Cur re nt 1 0 0 % Sa v i n g ~ Fi s c a l Ye a r Ca s h Pa y o f f D e b t Se r v ic e Gr o s s Sa v i n gs Fo r g o n e I n v e s t m e n t N e t Sa v i n g s Sa v i n g s $ (21 9 , 3 8 2 . 4 3 ) $ 4 8 . 8 7 2 .6 6 $ (1 7 0 ,50 9 . 7 7) $ 52 . 2 7 4 . 8 5 52 .2 7 4. 8 5 50 . 0 0 6. 7 3 5 0 ,0 0 6 . 7 3 4 7. 7 3 8 .5 9 4 7. 7 3 8 . 5 9 4 5 . 4 7 0 .4 7 4 5 . 4 7 0 .4 7 2 0 1 6 20 1 7 2 0 1 8 2 0 1 9 2 0 2 0 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5 2 0 2 6 2 0 2 7 2 0 2 8 To t a l $ ( 2 1 9 , 3 8 2 .4 3 ) $ 2 4 4 , 3 6 3 . 3 0 $ 2 4 , 9 8 0 . 8 7 $ Ne t Pr e s e n t Va lue Sa v i n g s Net Pr es e nt Va lue% Sa v 1 n gs Es ti ma t e d Ea r n 1 n g s Ra t e 2 Fo r q ~ O r ' I C •n w · : ~ trn C ' · H ct tr n1 n g s M\ · C be e n c al cu i M c d ba s e d on th e 1- Y c . : t r Tr eas u r y a< : . of De c e m b e r 15 t h (0 . 6 9 ' 1. Es t 111 1 a t e d ba ~ c d on In t e res t r at e dU E ' on bo n d S le s s fo r g o n e mv t - s t n w n t PC~ r m ng<> r;:~ t p of l ·Y f ' a r Tr e a s u r y . No t e : As s u m e s a pa y o f f da t e of 2 / 1 8 i 16 O• . < . c nl , e r 22 . 20 1 ! ) Ea r ni ngs 1 75 6 . 8 7 $ (1 7 1 , 2 66 . 6 4 ) 1 . 5 1 3 . 7 4 50 . 7 6 1 . 1 1 1 , 5 1 3 . 7 4 4 8 . 4 9 2 . 9 9 1 . 5 1 3 .7 4 4 6 ,2 2 4 . 8 5 1 . 5 1 3 . 7 4 4 3 ,9 5 6 . 7 3 6 , 8 1 1 . 8 3 $ 1 8 , 1 6 9 . 0 4 $ 1 8 . 1 6 9 . 0 4 8 .4 1 % 4. 5 6 % Ha r n et t C O U N T Y .3 1 . et , Co u · ' : ~ . "l C r:: 02 0 9 1 6 w s a H C B O C P a g e 1 4 Payoff Savings - 2 0 0 3 So u t h w e s t Re g i o n a l II I So u r c e s o f Fu n d s FY 20 1 6 Bu d g e t Ad d 1 t 1 o n a l Eq U i t y In v e s t m e n t Tot a l Ca s h Pay o f f Us e s of Fu n d s Pa 1 Am o u n t Ac c r u e d ln t e r e s l Pr e p a y m e n t Pe n a l t y Tot a l Us e s o f Fun d s Bo n d s Ref u nd e d - - - Am o u n t Ma t u n t 1 c s Co u p o n ( s ) Ca l l Da t e Ca l l Pn c e Sa v i ~ g s Fi s c a l Ye a r 20 1 6 20 1 7 2 0 1 8 20 1 9 2 0 2 0 20 2 1 20 2 2 20 2 3 20 2 4 2 0 2 5 2 0 2 6 20 2 7 2 0 2 8 $ Ca s h Pa y o f f De b t Se r v i ce Sa v m g s (3 7 2 , 8 2 3 . 0 6 ) $ 60 , 0 3 6 . 8 4 65 . 3 2 6 . 3 2 63 . 2 1 0 . 5 2 61 .09 4 . 7 4 58 . 9 7 8 . 9 4 56 . 8 6 3 . 1 6 54 , 7 4 7 . 3 4 Gr o s s Sa v i n g s Fo r g o n e In v e s t m e nt Ea r nm g s 1 $ (3 1 2 , 7 8 6 . 2 2 ) $ 1. 2 8 6 . 2 4 65 .32 6 . 3 2 2. 5 7 2 . 4 8 63 . 2 1 0 . 5 2 2. 5 7 2 . 4 8 61 . 0 9 4 . 7 4 2. 5 7 2 . 4 8 58 , 9 7 8 . 9 4 2. 5 7 2 . 4 8 56 . 8 6 3 . 1 6 2. 5 7 2 . 4 8 54 , 7 4 7 . 3 4 2, 5 7 2 . 4 8 $ 60 , 0 3 6 . 8 4 31 2 . 7 8 6 . 2 2 $ 3 7 2 , 8 2 3 . 0 6 $ 36 8 . 4 2 1 . 0 4 4. 4 0 2 . 0 2 $ 3 7 2 , 8 2 3 . 0 6 $ 36 8 . 4 2 1 .04 5 / 1 / 1 6 . 5/ 1/ 22 4. 0 2 % Cu r r e n t 10 0 % Ne t Sa v i n g s $ (3 1 4 . 0 7 2 . 4 6 ) 62 . 7 5 3 . 8 4 60 , 6 3 8 . 0 4 58 . 5 2 2 . 2 6 56 , 4 0 6 . 4 6 54 . 2 9 0 . 6 8 52 , 1 7 4 . 8 6 To t a l $ ( 3 7 2 , 8 2 3 . 0 6 ) $ 4 2 0 ,2 5 7 . 8 6 $ 4 7 , 4 3 4 . 8 0 $ 1 6 , 7 2 1 . 1 2 $ 3 0 , 7 1 3 . 6 8 Ne t Pr e s e n t Va l u e Sa v 1 n g s Ne t Pr e sen t Va l u e Sa v m gs Es t 1 m a t e d Ea r n 1 n g s Ra t e ' Fo reg o n e nH ' < ; t m 'l l f' '" ' ' " ' ha v ~ OC ' r n ca l c u l, ) t Cd ba s e d oo I he l ·Y . . . , .t r Tr c a < . ur v it " > of 0{ ' ( C m b c r l !" ) T h (0. 6 ~ .. r ). Es t ,n M tt - rl OO s e d on •nt Nf " ' . t li 1 1f " •i' I P on bon d i lf' S.S for ~ oo e tn v c s t m f > f l t Pb r n • ngs ra t~ ll i 1- ' H •a r ., . rr a so ry , l\ otc: A..ss tJmc .. , a payof' d.·v ~ of 7/ lH ' l G $ 30 , 7 1 3 . 6 8 8. 3 4 3. 3 3 x Ha r n e t t C O U N T Y DAVENPORT&COMP A N Y - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - f ' " l b E ' ' 22 :: > f l · ' '> f- I · J r " l e t t Co u n t 1 NC ! 02 0 9 1 6 w s a H C B O C P a g e 1 5 Payoff Saving s - 2 0 0 4 IP C (W e l l s Fa r g o ) S o u r c e s o f Fu n d s - - ·. . ; . : . : ; . . __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ FY 20 1 6 Bu d g e t $ 15 2 . 6 2 8 . 0 0 Ad d 1 t 1 o n a l Eq u 1 t y In v e s t m e n t 42 5 . 9 6 8 . 3 2 To t a l Ca s h Pa y o f f $ 5 7 8 , 5 9 6 . 3 2 Us e s o f Fu n d s Pa 1 Am o u n t Ac c r u e d In t e r e s t Pr e p a y m e n t Pe n a l t y To t a I Us e s o f Fu n d s Bo n d s Re f u n d e d Am o u n t Ma t u n t 1 c s Co u p o n ( s } Ca l l Da t e Ca l l Pr i c e Sa v ~ g s $ 56 0 . 0 0 0 . 0 0 12 . 9 9 6 . 3 2 5, 6 0 0 . 0 0 $ 5 7 8 , 5 9 6 . 3 2 $ 56 0 . 0 0 0 . 0 0 6 / 1 / 1 6 - 6 / 1/ 1 9 4. 5 1 % 6 / 8 / 2 0 1 6 10 V ~ , Fi s c a l Ye a r Ca s h Pa y o f f D e b t Se r v i c e Gr o s s Sa v i n g s Fo r g o n e In v e s t m e n t Ne t Sa v i n g s Sa v i n g s $ (5 7 8 , 5 9 6 . 3 2 } $ 15 2 . 6 2 8 . 0 0 $ (4 2 5 . 9 6 8 . 3 2 } $ 15 8 . 9 4 2 . 0 0 1 5 8 . 9 4 2 . 0 0 15 2 . 6 2 8 . 0 0 15 2 , 6 2 8 . 0 0 14 6 . 3 1 4 . 0 0 14 6 . 3 1 4 . 0 0 20 1 6 20 1 7 20 1 8 20 1 9 20 2 0 20 2 1 20 2 2 2 0 2 3 20 2 4 2 0 2 5 2 0 2 6 20 2 7 2 0 2 8 To t a l $ (5 7 8 . 5 9 6 . 3 2 } $ 6 1 0 , 5 1 2 . 0 0 $ 3 1 . 9 1 5 . 6 8 $ Ne t Pr e s e n t Va l u e Sa v 1 n g s Ne t Pr e s e n t V<: ~ l u c Sa v 1 n g s Es t i m a t e d Ea r n 1 n g s Ra t e Fo r ~ o n r - •0 \ C S I I T l c n t ca r " ' " ' · ~ 1' \ ; l \ ' ( OC < ' f \ ca l r u l r t l c d ba s e d oo th e 1-Y c a r Tr c c J ' > U f \ 1 ' as of De c e m b e r 1'3 ~ h (0 . 6 9 ·, ) , [S I • f l " t a t ( ' < f ba s f " d M JO t t ' f C ~ I ri l l f ! ' du ~ · on bo n < k I( " < ; ) S fo r g o n t > .n v ~ t m l ; ' f l t ea r n : . n g s r< t t t • nf 1- \ o t > a r Tr c ~ t . r y . No t e : A_ o ; ; c a m 1 c s a pa ~ o f ' da t e of 2/ 1 & . ' 1 6 Ea r n m g s 1 1, 9 9 6 . 1 6 $ (4 2 7 . 9 6 4 . 4 8 } 3. 9 9 2 . 3 2 15 4 . 9 4 9 . 6 8 3. 9 9 2 . 3 2 14 8 . 6 3 5 . 6 8 3. 9 9 2 . 3 2 14 2 . 3 2 1 . 6 8 1 3 . 9 7 3 . 1 2 $ 1 7 , 9 4 2 . 5 6 $ 17 . 9 4 2 . 5 6 3. 2 0 o / 3. 8 2 % Ha r n e t t C O U N T Y DAVENPORT&COM P A N Y - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - , . . r ( ' " ' be • 7 2 20 lS HJ r n l ' t t Co u n t v . f\ / C 8 02 0 9 1 6 w s a H C B O C P a g e 1 6 Payoff Savings - 2 0 0 4 So u t h Ce n t r a l Bu n n l e v e l Ri v e r s i d e GO Ha r n e t t So u r c e s o f Fu n d s FY 20 1 6 Bu d g e t $ 3 4 , 9 0 0 .0 0 Ad d i t i o n a l Eq u i t y In v e s t m e n t 3 5 9 . 3 3 5 . 0 0 To t a l Ca s h Pa y o f f $ 3 9 4 , 2 3 5 . 0 0 Us e s o f Fu n d s Pa r Am o u n t Ac c r u e d In t e r e s t Pr e p a y m e n t Pe n a l t y To t a l Us e s of Fu n d s Bo n d s Re f u n d ed Am o u n t Ma t u r i t 1e s Co u p o n(s ) Ca l l Da t e Ca l l Pr i c e ~ v in ~ s Fi s c a l Ye a r Ca s h Pa y o f f D e b t Se r v i c e Sa v i n g s Gr o s s Sa v i n g s Fo r g o n e In v e s t m e n t 20 1 6 20 1 7 20 1 8 20 1 9 20 2 0 20 2 1 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 To t a l Ne t Pr e s e n t Va l u e Sa v i n g s Ne t Pr e s e n t Va l u e % Sa v 1 n g s Es t i m a t e d Ea m m g s Ra t e 2 $ (3 9 4 , 2 3 5 . 0 0 ) $ 3 4 . 9 0 0 . 0 0 43 . 5 5 0 .0 0 42 . 3 0 0 . 0 0 46 . 0 50 .0 0 44 . 5 5 0 . 0 0 43 . 0 5 0 .0 0 4 1. 4 75 . 0 0 3 9 . 9 0 0 . 0 0 3 8 , 3 2 5 . 0 0 3 6 . 7 5 0. 0 0 40 ,2 5 0 . 0 0 38 . 5 0 0 . 0 0 36 , 7 5 0 . 0 0 $ (3 9 4 , 2 3 5 . 0 0 ) $ 5 2 6 , 3 5 0 . 0 0 $ (3 5 9. 3 3 5 . 0 0 ) $ 43 . 5 5 0 . 0 0 42 , 3 0 0 . 0 0 4 6 .0 5 0 . 0 0 44 .5 5 0 . 0 0 43 . 0 5 0 . 0 0 4 1, 4 75 . 0 0 39 . 9 0 0 .0 0 3 8 , 3 2 5 . 0 0 36 . 7 5 0 . 0 0 40 , 2 5 0 . 0 0 38 .5 0 0 . 0 0 36 , 7 5 0 . 0 0 $ 1 3 2 , 1 1 5 . 0 0 $ 1 Fo r 0 g o n e mv c s t m e n t C' a m m g s ha v e be e n ca lcu l a t e d ba s e d on th e l· Y c a r Tr c a s u l ) ' as of D cc C ' mO C r 15 t h t0.6 9 ' .~'' · [s u m a t r d ba s e d on mt e r e s t ra t e du e on bo n d s les s fo r g o n f ' In v e s t m e n t ea r n m g ; s ra t e of l ·Ye a r Tr e a s u r ~ . No t e ; As s u m e s a pa y o 1 f da t e of 2 / 1 8 / 1 6 Ea r n i n g s 1 1 ,3 6 0 .1 1 2. 7 2 0 . 2 2 2, 7 2 0 . 2 2 2. 7 2 0 . 2 2 2, 7 2 0 . 2 2 2. 7 2 0 . 2 2 2, 7 2 0 . 2 2 2. 7 2 0 . 2 2 2, 7 2 0 . 2 2 2. 7 2 0 . 2 2 2, 7 2 0 . 22 2, 7 2 0 . 2 2 2, 7 2 0 .2 2 3 4 , 0 0 2 . 7 5 $ 3 9 0 , 0 0 0 .00 4. 2 3 5 . 0 0 $ 3 9 4 , 2 3 5 . 0 0 $ 3 9 0 , 0 0 0 . 0 0 6 / 1 / 1 6 - 6 / 1 / 2 8 5 .0 0 % - 5. 2 5 % Cu r r e n t 10 0 % N e t Sa v i ngs - - - - $ (3 6 0 . 69 5 . 1 1 ) 40 , 8 2 9 . 7 8 39 , 5 7 9 . 7 8 43 . 3 2 9 . 7 8 41 .8 2 9 . 7 8 40 . 3 2 9 . 7 8 3 8 , 7 5 4 . 7 8 3 7 . 1 7 9 . 7 8 3 5 , 6 0 4 . 7 8 3 4 . 0 2 9 .78 3 7 , 5 2 9 . 7 8 3 5 . 7 7 9 . 7 8 3 4 ,0 2 9 . 7 8 $ 9 8 , 1 1 2 . 2 5 $ 98 . 1 1 2 . 2 5 25 . 1 6 °1. 4. 3 1 % C O U N T Y DAVENPORT & CoMPANY- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - •f ' C 0 ' n b l l r 22 . 2 0 l o H< J r n P t t Co t o r t y . "J C 9 02 0 9 1 6 w s a H C B O C P a g e 1 7 Municipal Adv i s o r Di s c l o s u r e Ha r n e t t C O U N T Y The enclosed 1nformat1on relates to an ex1st m g or po t e n t i a l mu n 1 C 1 p a l ad v i s o r en g a g e m e n t . The U.S. Secunt1es and Exchange CommiSSIO n (t h e "S E C .. ) ha s cl a n f 1 e d th a t a br o k e r . de a ler or mu n 1 c 1 p a l se c u n t 1 e s de a l e r en g a g m g m mu n 1 c 1 p a l ad v 1 s o r y ac t i v i t i e s ou t s i d e th e sc o p e o f un d e r w n t m g a pa r t i c u l a r 1s s u a n c e of municipal secunties should be subject to mu m c 1 p a l ad v i s o r re g 1 s t r a t 1 o n . Da v e n p o r t & Co m p a n y LL C ( .. Da v e n p o r t .. ) ha s re g i s t e r e d as a mu n 1 c i p a l ad v i s o r wi t h th e SE C . As a re g i s t e 1 e d mu m c 1 p a l ad v 1 s o r Da v e n p o r t ma y prov1de adv1ce to a mun1c1pal ent1ty or obliga t e d pe r s o n . An ob l i g a t e d pe r s o n is an en t 1 t y ot h e r th a n a mu n i C i p a l en t i t y . su c h as a no t fo r pr o f i t co r p o r a t i o n . th a t ha s co m m e n c e d an ap p l i c a t io n or ne g o t i a t i o n w1 t h an en t i t y to 1ssue muniCipal secunt1es on 1ts behalf and fo r wh 1 c h 1t wi l l pr o v 1 d e su p p o r t . If an d wh e n an 1s s u e r en g a g e s Da v e n p o r t to pr o v 1 d e f1 n a n c 1 a l ad v 1 s o r y or co n s u lt a n t se r v 1 c e s wi t h re s p e c t to th e 1ss u a n c e of mu n i c 1 p a l se c un t i e s . Davenport IS obligated to evidence such a fln a n c 1 a l ad v 1 s o r y re l a t 1 o n s h 1 p w1 t h a wn t t e n ag r e e m e n t. When actmg as a reg1stered mun1c1pal adv1s o r Da v e n p or t IS a fi d u C i a r y re q u 1 r e d by fe d e r a l la w to ac t 111 th e be s t In t e r e s t o f a mu m c 1 p a l en \ l t y w1 t h o u t re g a r d to 1t s ow n fl n a n c 1 a l or ot h e r In t e r e s t s . Da v e n p o r t IS no t a fi d u c i a r y when 1\ acts as a reg1stered Investment adv1 s o r . wh e n ad v 1 s 1 n g an ob l i g a t e d pe r so n . or wh e n ac t i n g as an un d e r w n t e r . th o u g h 1t IS re q w e d to de a l fa 1 r l y w1 t h su c h pe r s o n s . Th1s matenal was prepared by public fmance . or ot h e r no n - r e s e a r c h pe r s o n n e l o f Da v e n p o r t . Th 1 s ma t e n a l wa s no t pr o d u c e d by a re s e a r c h an a lys t . alt h o u g h 1t ma y re f e r to a Da v e n p o r t re s e a r c h an a l y s t or re s e a r c h re p o r t . Unless otherw1se 111d1Cated. these v1ews (if an y ) ar e th e au t h o r ' s an d ma y d1 f f e r fr o m th o s e o f th e Da v e n p o r t fi x e d mc o m e or re s e a r c h de p a r t m e n t or ot h e r s 111 th e fi r m . Da v e n p o r t ma y pe r f o r m or se e k to pe r f o r m f in a n c 1 a l advisory serv1ces for the 1ssuers of the secur i t i e s an d in s t r u m e n t s me n t i o n e d he r e 1 n . Th1s matenal has been prepared for mforma t i o n pu r p o s e s on l y an d 1s no t a so l i c i ta t i o n o f an y o f f er to bu y or se ll an y se c u n t y / i n s t r u m e n t or to pa r t i c i p a t e m a n y tr a d i n g st r a t e g y . An y su c h of f e r wo u ld be ma d e on l y af t e r a prospective partiCipant had completed its ow n md e p e n d e n t Inv e s t i g a t i O n of th e se c u r i t 1es . ms t r u m e n t s or tr a n s a c t i o n s an d re c e i v e d a ll In f o r m a t i O n it re q u ired to ma k e 1t s ow n mv e s t m e n t de C I S I O n . mc l u d i n g . wh e r e applicable. a rev1ew of any offenng c1rcular or me m o ran d u m de s c n b 1 n g su c h se c u n t y or ms t r u m e n t . Th a t in f o r m a t i o n wo u l d co n t a i n ma t e n a l in f o r m a t i o n no t co n t a i n e d he r e m an d to wh 1c h pr o s p e c t 1 v e pa r t i C i p a n t s ar e referred. Th1s matenal IS based on public mf o r ma \ J O n as o f th e sp e c 1 f 1 e d da t e , an d ma y be st a l e th e r e a f t e r . We ha v e no ob li ga t i O n to te ll yo u wh e n 11 1 f o r m a t 1 o n he r e m ma y ch a n g e . We ma k e no rep r e s e n t a t io n or wa r r a n t y w1th respect to the completeness of th1s ma t e r i a l. Da v e n p o r t ha s no ob l i g a t 1 o n to co n t 1 n u e to pu b l i s h 1n f o r m a t 1 o n on th e se c u n t i e s / J n s t ru me n t s me n t 1 o n e d he r e m . Rec 1 p 1en t s ar e re q u 1 r e d to co m p l y wi t h an y leg a l or contractual restnctlons on then purchase. ho l d m g , sa le. ex e r c 1 s e o f ngh ts or pe r f o r m a n c e of ob h g a t 1 o n s un d e r an y se c u n ti es / 1 n s t r u m e n ts tr a n s a c t i o n . The securit1esjmstruments discussed 111 this ma t e n a l ma y no t be su ita b l e fo r al l i nv e s t o r s or is s u e r s . Re c i p i e n t s sh o u ld se e k in d e pe n d e n t fi n a n c i a l ad v i c e pr i o r to ma k m g an y in v e s t m e n t de c i s i o n ba s e d on th 1 s ma t e r i a l . This matenal does not prov1de 111d1vidually ta i lor e d mv e s t m e n t ad v 1 c e or of f e r ta x . re g u lat o ry, ac c o u n t in g o r le g a l ad v 1 c e . Pno r to en t e nn g 11 1 \ o an y pr o p o s e d tr a n s a c t i o n . re c 1 p 1 e n t s sh o ul d de t e r m m e . 111 co nsu lt a t io n w1 t h theJr own mvestment. legal. tax. regulatory an d ac c o u n t i n g ad v 1 s o r s . th e ec o n o m 1 c ri s k s an d me r i t s . as we l l as th e le g a l , ta x . re g u l a t o r y an d ac c o u n t m g ch a r a c t e n s t ic s an d co n s e q u e n c e s . o f th e tr a n s a c t i o n . Yo u sh o u ld consider th1s matenal as only a Single factor in ma k i n g an in v e s tm e n t de c 1 s i o n . The value of and mcome from mvestments an d th e co s t of bo r r o w 1 n g ma y va r y be c a u s e o f ch a n g e s in In t e r e s t ra t e s , fo r e 1 g n ex c h a n g e ra t e s . de f a u l t ra t e s , pr e p a y m e n t ra t e s . sc c u n t J e s / i n s t r u m e n t s pn c e s . ma r k e t In d e x e s . operational or fmancial cond1t1ons or compa m e s or ot h e r fa c t o r s . Th e r e ma y be t1 m e li m 1 t a t 1 o n s on th e ex e r c 1 s e o f op \ l o n s or ot h e r ng h t s in se c u n t J e S / I n s tr u me n t s tr a n s a c t i o n s . Pa s t pe r f o r m a n c e 1s no t ne c e s s a n l y a gu i d e to future performance and est1mates of futu r e pe r f o r m a n c e ar e ba s e d on as s u m p t 1 o n s th a t ma y no t be re a l i z e d . Ac t u a l ev e n t s ma y d1 f f e r fr o m th o s e as s u m e d a n d ch a n g e s to an y as s u m p t i o n s ma y ha v e a ma t e n a l 1m pa c t on any projections or est1mates. Other even t s no t ta k e n in t o ac c o u n t ma y oc c u r an d ma y Si g n i f i c a n t l y af f e c t th e pr o J e C t i o n s or es t i m a t e s . Ce r t a i n as s u m p t ion s ma y ha v e be e n ma d e fo r mo d e l i n g pu r p o s e s o r to si m p l i f y th e presentation and/or calculation of any proj e c t i o n s or es t i m a t e s , an d Da v e n p o r t do e s no t re p r e s e n t th a t an y su c h as s u m p t i o n s w1 l l re f l e c t ac t u a l fu t u r e ev e n t s . Ac c o r d i n g l y , th e re ca n be no as s u r a n c e th a t es t i m a t e d returns or projections Will be realized or tha t ac t u a l re t u r n s or pe r f o r m a n c e re s u l t s w1 l l no t ma t e r i a l l y di f f e r fr o m th o s e es t i m a t e d he r e m . Th i S ma t e r i a l ma y no t be so ld or re d i S t r i b u t e d Wi t h o u t th e pn o r wn t t e n co n s e n t of Davenport. Vers1on 1.13.14 CH I MB I TC [)AVENPORT&COMPANY-- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - _ ll ' t ' e r 2' ; _ _ . : . __ H - ' l r " ! ' l t Co u 1t y NC 10 02 0 9 1 6 w s a H C B O C P a g e 1 8 TOWN OF ERWIN Mr. Jim Burgin Chairman P.O . Box 459 · Erwin, NC 28339 Ph: 910-897-5140 ·Fax : 9 10-897-5543 www .erwin-nc.org January 14, 2016 Harnett County Board of Commissioners P.O. Box 759 Lillington, N.C. 27546 Re: Erwin Depot Project Dear Chairman Burgin : ~Cl!fV . J4N ~i_,- 1.9 ;,..,.,.. ~ ... ~, .. , p y ~~ Mayor Pro Tl'li Randy L. Baker Commissioners William R. Turnage Thurman E. Whitman Alvester L. McKoy Ricky W. Blackmon Frankie Ballard The Town of Erwin is in the process of moving the former Depot to a vacant lot behind the Erwin Fire and Rescue Station. The foundation has been poured and we are in the process of coordinating with the various utility companies to move some utility lines, so the building can be relocated. Total costs for moving the building and placing it on a new foundation is approximately $120,000. The Town of Erwin was able to identify a source of funds for this portion of project, known as Phase I. Phase II will consist ofhiring an architect to develop plans and specifications for the renovation of the building as a Museum for the Town of Erwin. The Erwin Historical Society has pledged to keep the facility open to the public. The cost estimate for Phase II of the project is in excess of$600,000. To move forward with the project, the Town anticipates borrowing enough funds to complete the project. The amount of the loan will depend on the Town 's success in obtaining grant funds and donations currently being sought by the Historical Society. As you are aware, the Town of Erwin has faced some difficult times in the past few years, and this will be a tremendous undertaking by the Town_ Upon its completion, the Erwin Town Board feels that this project will be instrumental in preserving the history of Erwin, as well as Harnett County. It is important that we strive to protect our historical treasures . There is strong support in the community for this project and we hope that will translate into financial support from our citizens, both individual and corporate. We would also respectfully request that the Harnett County Commissioners consider appropriating some County funds towards this project. Your support will allow us to move forward with the project and provide a facility that will be enjoyed by the residents of Erwin, Harnett County and visitors to the area. We respectfully ask that this request for funding be considered at a County Commissioners meeting at a date and time deemed appropriate by you and your staff. I and the Town staff will be available to present the project and answer any questions that 020916wsa HC BOC Page 19 the Commissioners might have. We can also provide any additional information that would help the Commissioners in their decision making process. The County's participation in this worthwhile endeavor, will protect this valuable asset for generations to come. We look forward to hearing from you and your fellow Commissioners. Sincerely, ~ f\\.C a)~ ... .l~­ o Pasty M. Carson Mayor c: Joseph Jeffries, County Manager Erwin Board of Commissioners 020916wsa HC BOC Page 20