Resolutions-2018-005

CITY OF TIFFIN, IOWA REVENUE/SPECIAL OBLIGATION DEBT (As of March 2, 2018) <table> <tr> <th rowspan="2">Purpose:</th> <th colspan="2">Sewer Revenue Bond, Series 1999C</th> <th colspan="2">Water Revenue Bond, Series 2003B</th> </tr> <tr> <th>Dated:</th> <th>Original Amount:</th> <th>Maturity:</th> <th>Interest Rates:</th> <th>TOTAL PRINCIPAL:</th> <th>TOTAL PRIN & INT:</th> </tr> <tr> <td></td> <td>09/30/99</td> <td>$521,315</td> <td>1-Jun</td> <td>1.75%</td> <td>$55,000</td> <td>$58,313</td> <td>2018</td> </tr> <tr> <td></td> <td>07/09/03</td> <td>$340,000</td> <td>1-Jun</td> <td>1.75%</td> <td>57,000</td> <td>59,267</td> <td>2019</td> </tr> <tr> <td></td> <td></td> <td>0</td> <td>20,000</td> <td></td> <td>20,000</td> <td>21,525</td> <td>2020</td> </tr> <tr> <td></td> <td></td> <td>0</td> <td>21,000</td> <td></td> <td>21,000</td> <td>22,116</td> <td>2021</td> </tr> <tr> <td></td> <td></td> <td>0</td> <td>22,000</td> <td></td> <td>22,000</td> <td>22,688</td> <td>2022</td> </tr> <tr> <td></td> <td></td> <td>0</td> <td>22,000</td> <td></td> <td>22,000</td> <td>22,248</td> <td>2023</td> </tr> <tr> <td></td> <td></td> <td>$73,000</td> <td>$124,000</td> <td></td> <td>$197,000</td> <td>$206,156</td> <td></td> </tr> </table> NOTE: 100% OF REVENUE/SPECIAL OBLIGATION DEBT WILL BE RETIRED WITHIN TEN YEARS. (1) This bond is payable from net revenues of the municipal sewer utility system and shall be a first lien on the future revenues of the sewer utility system after payment of expenses including the necessary cost of operating, maintaining, repairing and insuring the sewer utility. The full faith and credit of the City of Tiffin is not pledged to the payment of principal and/or interest on the bond. (2) These bonds were purchased through a private placement agreement with the State Revolving Fund (SRF). The bonds are excluded for computation against net debt limitations for continuing disclosure (Rule 15c2-12) purposes. (3) This bond is payable from net revenues of the municipal water utility system and shall be a first lien on the future revenues of the water utility system after payment of expenses including the necessary cost of operating, maintaining, repairing and insuring the water utility. The full faith and credit of the City of Tiffin is not pledged to the payment of principal and/or interest on the bond. (4) Effective September 28, 2012, the Iowa State Revolving Fund reduced the interest rate on 20-year loans from 3% to 1.75%.