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SOUTH BEND REDEVELOPMENT COMMISSION
<br /> Public Improvement Projects and Beacon District Project
<br /> ILLUSTRATIVE AMORTIZATION OF$34,720,000 PRINCIPAL AMOUNT OF
<br /> TAX-EXEMPT LEASE RENTAL REVENUE BONDS,SERIES A(PUBLIC IMPROVEMENT PROJECTS)
<br /> Assumes Bonds dated April 5,2023
<br /> Illustrative True Interest Cost 5.43%
<br /> Illustrative Illustrative Illustrative Illustrative
<br /> Payment Principal Interest Illustrative Total Debt Fiscal Year Annual
<br /> Date Outstanding Principal Rates Interest Service Debt Service Lease Rental
<br /> (1) (2)
<br /> 08/01/23 $34,720,000 $580,084 $580,084
<br /> 02/01/24 34,720,000 900,130 900,130 $1,480,214 $1,486,000
<br /> 08/01/24 34,720,000 900,130 900,130
<br /> 02/01/25 34,720,000 900,130 900,130 1,800,260 1,806,000
<br /> 08/01/25 34,720,000 $795,000 4.50% 900,130 1,695,130
<br /> 02/01/26 33,925,000 815,000 4.60% 882,243 1,697,243 3,392,373 3,398,000
<br /> 08/01/26 33,110,000 895,000 4.60% 863,498 1,758,498
<br /> 02/01/27 32,215,000 915,000 4.70% 842,913 1,757,913 3,516,410 3,522,000
<br /> 08/01/27 31,300,000 1,015,000 4.70% 821,410 1,836,410
<br /> 02/01/28 30,285,000 1,040,000 4.85% 797,558 1,837,558 3,673,968 3,679,000
<br /> 08/01/28 29,245,000 1,090,000 4.85% 772,338 1,862,338
<br /> 02/01/29 28,155,000 1,115,000 5.00% 745,905 1,860,905 3,723,243 3,729,000
<br /> 08/01/29 27,040,000 1,195,000 5.00% 718,030 1,913,030
<br /> 02/01/30 25,845,000 1,225,000 5.05% 688,155 1,913,155 3,826,185 3,832,000
<br /> 08/01/30 24,620,000 1,445,000 5.05% 657,224 2,102,224
<br /> 02/01/31 23,175,000 1,475,000 5.10% 620,738 2,095,738 4,197,961 4,203,000
<br /> 08/01/31 21,700,000 1,570,000 5.10% 583,125 2,153,125
<br /> 02/01/32 20,130,000 1,620,000 5.15% 543,090 2,163,090 4,316,215 4,322,000
<br /> 08/01/32 18,510,000 1,675,000 5.15% 501,375 2,176,375
<br /> 02/01/33 16,835,000 1,720,000 5.20% 458,244 2,178,244 4,354,619 4,360,000
<br /> 08/01/33 15,115,000 1,560,000 5.20% 413,524 1,973,524
<br /> 02/01/34 13,555,000 1,600,000 5.25% 372,964 1,972,964 3,946,488 3,952,000
<br /> 08/01/34 11,955,000 1,165,000 5.25% 330,964 1,495,964
<br /> 02/01/35 10,790,000 1,195,000 5.40% 300,383 1,495,383 2,991,346 2,997,000
<br /> 08/01/35 9,595,000 1,230,000 5.40% 268,118 1,498,118
<br /> 02/01/36 8,365,000 1,265,000 5.50% 234,908 1,499,908 2,998,025 3,004,000
<br /> 08/01/36 7,100,000 1,290,000 5.50% 200,120 1,490,120
<br /> 02/01/37 5,810,000 1,325,000 5.60% 164,645 1,489,645 2,979,765 2,985,000
<br /> 08/01/37 4,485,000 1,625,000 5.60% 127,545 1,752,545
<br /> 02/01/38 2,860,000 1,670,000 5.70% 82,045 1,752,045 3,504,590 3,510,000
<br /> 08/01/38 1,190,000 355,000 5.70% 34,450 389,450
<br /> 02/01/39 835,000 370,000 5.80% 24,333 394,333 783,783 789,000
<br /> 08/01/39 465,000 115,000 5.80% 13,603 128,603
<br /> 02/01/40 350,000 115,000 5.85% 10,268 125,268 253,870 259,000
<br /> 08/01/40 235,000 115,000 5.85% 6,904 121,904
<br /> 02/01/41 120,000 120,000 5.90% 3,540 123,540 245,444 251,000
<br /> Totals $34,720,000 $17,264,756 $51,984,756 $51,984,756 $52,084,000
<br /> (1) We have prepared the interest rate assumptions using our evaluation of the underlying credit pledge to this financing and
<br /> current market conditions. These factors are subject to change. Changes may result in the actual interest rates varying
<br /> from the interest rates assumed for this analysis and that variance may be material.
<br /> (2) Represents the annual debt service rounded up to the next$1,000 plus$5,000 for Trustee and administrative fees.
<br /> (Subject to the attached letter dated December 2, 2022)
<br /> (Preliminary-Subject to Change)
<br /> (For Internal Use Only)
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