WS - C - Tiffin Capital Planning - GO Debt Book - September 2023

Page 3 Debt Capacity Analysis Outstanding Debt Issues Subject to Debt Limit Projected Debt Total Debt Available Percent Debt Fiscal Actual Legal GO GO GO GO GO GO TIF Agree. Against Legal Legal is of Legal Year Valuation Debt Limit 2021A 2020A 2019A 2018A 2017A 2022A Combined 2024A 2025A 2026A 2028A Debt Limit Capacity Debt Limit FY 2024 604,782,661 30,239,133 387,300 6,240,000 3,370,000 81,200 3,675,000 2,730,000 ‐ 237,891 1,500,000 ‐ 18,221,391 12,017,742 60.26% FY 2025 653,165,274 32,658,264 385,300 5,490,000 2,980,000 79,400 3,355,000 2,420,000 ‐ 350,000 1,500,000 5,000,000 ‐ 21,559,700 11,098,564 66.02% FY 2026 705,418,496 35,270,925 393,200 4,720,000 2,580,000 82,600 3,025,000 2,245,000 ‐ 400,000 1,250,000 5,000,000 7,500,000 ‐ 27,195,800 8,075,125 77.11% FY 2027 761,851,975 38,092,599 390,800 3,930,000 2,175,000 80,600 2,685,000 2,050,000 ‐ 554,584 960,000 5,000,000 7,500,000 ‐ 25,325,984 12,766,615 66.49% FY 2028 822,800,133 41,140,007 393,300 3,130,000 1,760,000 83,600 2,335,000 1,855,000 ‐ 804,584 655,000 4,850,000 7,500,000 ‐ 23,366,484 17,773,523 56.80% FY 2029 888,624,144 44,431,207 ‐ 2,670,000 1,335,000 81,400 1,975,000 1,655,000 ‐ 1,054,584 335,000 4,575,000 7,500,000 7,500,000 28,680,984 15,750,223 64.55% FY 2030 959,714,076 47,985,704 ‐ 2,195,000 900,000 79,200 1,605,000 1,445,000 ‐ 1,548,328 ‐ 4,285,000 7,500,000 7,500,000 27,057,528 20,928,176 56.39% FY 2031 1,036,491,202 51,824,560 ‐ 1,715,000 455,000 82,000 1,220,000 1,265,000 ‐ 2,000,000 ‐ 3,985,000 7,270,000 7,500,000 25,492,000 26,332,560 49.19% FY 2032 1,119,410,498 55,970,525 ‐ 1,265,000 ‐ 79,600 825,000 1,080,000 ‐ 2,000,000 ‐ 3,670,000 6,900,000 7,400,000 23,219,600 32,750,925 41.49% FY 2033 1,208,963,338 60,448,167 ‐ 810,000 ‐ 82,200 420,000 890,000 ‐ 2,000,000 ‐ 3,335,000 6,510,000 7,400,000 21,447,200 39,000,967 35.48% FY 2034 1,305,680,405 65,284,020 ‐ 550,000 ‐ 79,600 ‐ 690,000 ‐ 2,000,000 ‐ 2,985,000 6,100,000 7,275,000 19,679,600 45,604,420 30.14% FY 2035 1,410,134,837 70,506,742 ‐ 280,000 ‐ 82,000 ‐ 490,000 ‐ ‐ 2,620,000 5,670,000 7,275,000 16,417,000 54,089,742 23.28% FY 2036 1,522,945,624 76,147,281 ‐ ‐ ‐ 84,200 ‐ 375,000 ‐ ‐ 2,235,000 5,220,000 6,865,000 14,779,200 61,368,081 19.41% FY 2037 1,644,781,274 82,239,064 ‐ ‐ ‐ 81,200 ‐ 255,000 ‐ ‐ 1,830,000 4,745,000 6,865,000 13,776,200 68,462,864 16.75% FY 2038 1,776,363,776 88,818,189 ‐ ‐ ‐ 83,200 ‐ 130,000 ‐ ‐ 1,405,000 4,250,000 6,435,000 12,303,200 76,514,989 13.85% FY 2039 1,918,472,878 95,923,644 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 960,000 3,730,000 6,435,000 11,125,000 84,798,644 11.60% FY 2040 2,071,950,708 103,597,535 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 490,000 3,180,000 5,980,000 9,650,000 93,947,535 9.31% FY 2041 2,237,706,765 111,885,338 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 2,605,000 5,980,000 8,585,000 103,300,338 7.67% FY 2042 2,416,723,306 120,836,165 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 2,000,000 5,505,000 7,505,000 113,331,165 6.21% FY 2043 2,610,061,171 130,503,059 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 1,365,000 5,505,000 6,870,000 123,633,059 5.26% FY 2044 2,818,866,064 140,943,303 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 700,000 5,005,000 5,705,000 135,238,303 4.05% Original Issue Par Amount 2,510,000 7,670,000 4,500,000 1,100,000 5,140,000 ‐ ‐ Assumed Valuation Growth 8.00% TIF REBATE AGREEMENTS ARE ESTIMATED Debt Limit (as % of 100% valuation) 5.00% Prepared by Northland Securities, Inc. 9/29/2023