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YEAR <br />BONDS <br />SOLD <br /> <br />1994 <br /> <br />I I I <br /> <br /> PROJECTS FUNDED <br />TIER I <br /> <br />Co~o~d Middle .School <br />We~ Side FAen~nm7 <br /> <br /> TOTAl.. TIER 1 <br /> <br />PROPOSED BOND ISSUE <br />FINANCING STRAGETY <br /> <br /> KANNAPOLIS <br /> CITY <br /> SCHOOLS TOTAL <br />PROJECT SHARE @ BONDS <br />COSTS 18.45% SOLD <br />(MILLIONS) (MILLIONS) (MILLIONS) <br /> <br />$ 8.949 <br /> 6.776 <br /> 6.437 <br /> <br />ESTIMATED <br />PROPERTY <br />TAX <br />INCREASE <br /> <br /> INCREASE TO AVERAGE <br />IIOMEOWNER <br />ANNUAL MONTHLY WEEKLY <br /> <br />$ 22.162 $ 5.014 $ 27.176 $ .053 $ 40.00 $ 3.33 $ .77 <br /> <br />1996 <br /> <br />TIER II <br /> <br />Winecoff rmmenm7 School <br />West Side Middle School <br /> <br /> TOTAL TIER 11 <br /> <br />$ 5.372 <br /> 6.076 <br /> 9.949 <br /> <br />$ 21.197 $ 4.841 $ 26.238 $ .052 <br /> <br />$ ~).00 $ a~z$ $ .75 <br /> <br />TIER III <br /> <br />1998 <br /> <br />llarfisburg Elemenlav/Schoo~ <br />Bethel Elementa~ School <br />Royal Oak~ Elemesttaty ~ <br />Mc Ple. ua~ F. lamma~ .School <br />High School Rcnov~tiem <br /> <br />$ 6.377 <br /> 5.03 I <br /> 1.304 <br /> .945 <br /> 8.914 <br /> <br />TOTAL TIER Hi $ 21.$71 $ $.106 $ 27.677 $ .054 $ 40.50 <br /> <br />$ .7~ <br /> <br />TOTAL ~ $14.96Z $81.091 $.159 I119..q0 ] 9.9~ ~ 2.30 <br /> <br />ASSUMPTIONS: <br /> - Assumes flu~ growth in the tax base Ihrough year 1998 would not be applied specifically to reduce Ihe umount of property tax increase necessary to fund the bond debt. <br /> <br />- For bond debt nmi property tax assumptions, see detail attached. <br /> <br /> <br />