Date
<br />
<br />SAVINGS
<br />
<br /> County of Cabarrus, North Carolina
<br /> General Obligation Refunding Bonds, Series 2003
<br />Refunding of Series 1992 Water Bonds and 1993 Refunchng Bonds
<br />
<br />Prior Refunding Refunding Refunding
<br />Debt Service Debt Service Receipts Net Cash Flow Savings
<br />
<br /> Present Value
<br /> to 08/28/20O3
<br />~ 2.7705450%
<br />
<br />06/30/2004 3,364,010.00 3,272,894.69 41,515 03 3,231,379.66 132,630.34 136,137.10
<br />06/30/2005 3,203,725 00 3,044,533.76 3,044,533.76 159,191.24 153,344.91
<br />06/30/2006 3,043,200.00 2,887,533.76 2,887,533.76 155,666.24 145,839.38
<br />06/30/2007 2,884,700.00 2,725,158.76 2,725,158.76 159,541.24 145,110.88
<br />06/30/2008 2,726,095.00 2,568,308.76 2,568,308.76 157,786.24 139,398.65
<br />06/30/2009 2,564,560.00 2,404,00876 2,404,008.76 160,551 24 137,771.05
<br />06/30/2010 2,026,255.00 1,865,408 76 1,865,408.76 160,846.24 133,351.82
<br />06/30/2011 742,187.50 584,808.76 584,808.76 157,378 74 126,831.10
<br />06/30/2012 425,000.00 264,690.00 264,690.00 160,310 00 126,162.72
<br />
<br />20,979,732.50 19,617,346.01
<br />
<br />PV of savings from cash flow
<br />Less: Prior funds on hand
<br />Plus. Refunding funds on hand
<br />
<br />Net PV Savings
<br />
<br />41,515.03 19,575,830 98 1,403,901.52 1,243,947.60
<br />
<br />1,243,947.60
<br />-322,942.50
<br /> 3,283.91
<br />
<br />924,289.01
<br />
<br />Aug 5, 2003 11.52 am Preparedby UBS Fmancml Services lac.
<br />
<br />(Finance 4.434 Cabarrus:CABARRUS-REF,REF) Page 2
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