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YEAR <br />BONDS <br />SOLD <br /> <br />1994 <br /> <br />PROJECTS FUNDED <br /> <br />TIER I <br /> <br />Concord Middle School <br />West Side Elementary School <br />I:,,.~ Side £1ementao, <br /> <br /> TOTAL TIER ! <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 /> <br />$ 22.162 <br /> <br />F~TIMATED <br />PROPERTY <br />TAX <br />INCREASE <br /> <br /> INCREASE TO AVERAGE <br />llOMEOWNER <br />ANNUAL MONTHLY WEEKLY <br /> <br />S 5.014 $ 27,176 S .053 $ 40,00 $ ~JJ $ .77 <br /> <br />1996 <br /> <br />TIER II <br /> <br />Winecoff FAen~nmy <br />Rocky River Elementary School <br />West Side Middle Schoc4 <br /> <br /> TOTAL TIER !! <br /> <br />$ 5.372 <br /> 6.076 <br /> <br />$ 2L397 $ 4.841 $ 26.2M $ .asZ $ ~9.~0 $ ~ $ .75 <br /> <br />TIER 11I <br /> <br />1998 <br /> <br />ilarrist~r$ Elemenl~7 <br />Bethel FAementaty School <br />Royal Oaks Elementary Scho~ <br />Mt. Pleasant Elementary <br />High School Renovations <br /> <br />$ 6.377 <br /> 5.031 <br /> 1.304 <br /> .945 <br /> 8.914 <br /> <br />TOTAL TIER lit $ 2X571 $ 5.106 $ 27.677 $ .0S4 $ 4050 $ 3.37 $ .78 <br /> <br />TOTAL ~ 66.130 $14.961 <br /> <br />ASSUMPTIONS: <br /> - A~sume$ that growth in the tax base through year 1998 would not be applied specifically W reduce Ihe amount of property lax increase necessary to fund the bond debL <br /> <br />- For bond debt and property tax assumptions, see detail attached. <br /> <br />I ! I i I i I / I ! I I I I I I I <br /> <br /> <br />