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Bond Summary, Series 2005
SOURCES AND USES OF FUNDS Woodburn Urban Renewal Agency, Series 2005 FINAL Quarterly Principal and Interest Payments Bank of America Placement Debt Reserve Fund from Cash FINAL RATE 4.22% (LOCKED) Dated Date Delivery Date 09/15/2005 09/15/2005 Sources: Bond Proceeds: Par Amount 1,850,000.00 1,850,000.00 Uses: Project Fund Deposits: Project Funds 1,820,000.00 Delivery Date Expenses: Cost of Issuance Bank Origination Fee 28,150.00 1,850.00 30,000.00 1,850,000.00 Aug 26,2005 11:36 am Prepared by RFA (c:\data\dbc files\woodburn\URA:05URA-FINAL) Page 1 DETAILED BOND DEBT SERVICE Woodburn Urban Renewal Agency, Series 2005 FINAL Quarterly Principal and Interest Payments Bank of America Placement Debt Reserve Fund from Cash FINAL RATE 4.22% (LOCKED) Dated Date 09/15/2005 Delivery Date 09/15/2005 Serial (SER) Period Annual Ending Principal Coupon Interest Debt Service Debt Service 09/15/2005 12/15/2005 37,415.57 19,517.50 56,933.07 03/15/2006 37,810.30 19,122.77 56,933.07 06/15/2006 38,209.20 18,723.87 56,933.07 170,79921 09/15/2006 38,612.31 18,320.76 56,933.07 12/15/2006 39,019.67 17,913.40 56,933.07 03/15/2007 39,431.33 17,501.74 56,933.07 06/15/2007 39,847.33 17,085.74 56,933.07 227,732.28 09/15/2007 40,267.72 16,665.35 56,933.07 12/15/2007 40,692.54 16,240.53 56,933.07 03/15/2008 41,121.85 15,811.22 56,933.07 06/15/2008 41,555.68 15,377.39 56,933.07 227,732.28 09/15/2008 41,994.10 14,938.97 56,933.07 12/15/2008 42,437.13 14,495.94 56,933.07 03/15/2009 42,884.85 14,048.22 56,933.07 06/15/2009 43,337.28 13,595.79 56,933.07 227,732.28 09/15/2009 43,794.49 13,138.58 56,933.07 12/15/2009 44,256.52 12,676.55 56,933.07 03/15/2010 44,723.43 12,209.64 56,933.07 06/15/2010 45,195.26 11,737.81 56,933.07 227,732.28 09/15/2010 45,672.07 11,261.00 56,933.07 12/15/2010 46,153.91 10,779.16 56,933.07 03/15/2011 46,640.83 10,292.24 56,933.07 06/15/2011 47,132.89 9,800.18 56,933.07 227,732.28 09/15/2011 47,630.15 9,302.92 56,933.07 12/15/2011 48,132.64 8,800.43 56,933.07 03/15/2012 48,640.44 8,292.63 56,933.07 06/15/2012 49,153.60 7,779.47 56,933.07 227,732.28 09/15/2012 49,672.17 7,260.90 56,933.07 12/15/2012 50,196.21 6,736.86 56,933.07 03/15/2013 50,725.78 6,207.29 56,933.07 06/15/2013 51,260.94 5,672.13 56,933.07 227,732.28 09/15/2013 51,801.74 5,131.33 56,933.07 12/15/2013 52,348.25 4,584.82 56,933.07 03/15/2014 52,900.52 4,032.55 56,933.07 06/15/2014 53,458.62 3,474.45 56,933.07 227,732.28 09/15/2014 54,022.61 2,910.46 56,933.07 12/15/2014 54,592.55 2,340.52 56,933.07 03/15/2015 55,168.50 1,764.57 56,933.07 06/15/2015 55,750.53 1,182.54 56,933.07 227,732.28 09/15/2015 56,338.49 4.220% 594.37 56,932.86 12/15/2015 03/15/2016 06/15/2016 56,932.86 1,850,000.00 427,322.59 2,277,322.59 2,277,32259 Aug 26, 2005 11 :36 am Prepared by RFA (c:\data\dbc files\woodburn\U RA:05U RA-FI NAL) Page 2 BOND DEBT SERVICE Woodburn Urban Renewal Agency, Series 2005 FINAL Quarterly Principal and Interest Payments Bank of America Placement Debt Reserve Fund from Cash FINAL RATE 4.22% (LOCKED) Dated Date 09/15/2005 Delivery Date 09/15/2005 Period Ending Principal Coupon Interest Debt Service 06/15/2006 113,435.07 57,364.14 170,799.21 06/15/2007 156,910.64 70,821.64 227,732.28 06/15/2008 163,637.79 64,094.49 227,732.28 06/15/2009 170,653.36 57,078.92 227,732.28 06/15/2010 177,969.70 49,762.58 227,732.28 06/15/2011 185,599.70 42,132.58 227,732.28 06/15/2012 193,556.83 34,175.45 227,732.28 06/15/2013 201,855.10 25,877.18 227,732.28 06/15/2014 210,509.13 17,223.15 227,732.28 06/15/2015 219,534.19 8,198.09 227,732.28 06/15/2016 56,338.49 4.220% 594.37 56,932.86 1,850,000.00 427,322.59 2,277,322.59 Aug 26,2005 11:36 am Prepared by RFA (c:\data\dbc files\woodburn\URA:05URA-FINAL) Page 3 BOND SUMMARY STATISTICS Woodburn Urban Renewal Agency, Series 2005 FINAL Quarterly Principal and Interest Payments Bank of America Placement Debt Reserve Fund from Cash FINAL RATE 4.22% (LOCKED) Dated Date Delivery Date First Coupon Last Maturity 09/15/2005 09/15/2005 12/15/2005 09/15/2015 Arbitrage Yield True Interest Cost (TIC) Net Interest Cost (NIC) All-In TIC Average Coupon 4.242261% 4.263657% 4.238270% 4.593151% 4.220000% Average Life (years) Duration of Issue (years) 5.474 4.775 Par Amount Bond Proceeds Total Interest Net Interest Total Debt Service Maximum Annual Debt Service Average Annual Debt Service 1,850,000.00 1,850,000.00 427,322.59 429,172.59 2,277,322.59 227,732.28 227,732.26 Underwriter's Fees (per $1000) Average Takedown Other Fee 1 .000000 Total Underwriter's Discount 1.000000 Bid Price 99.900000 TIC All-In TIC Arbitrage Yield Par Value + Accrued Interest + Premium (Discount) - Underwriter's Discount - Cost of Issuance Expense - Other Amounts 1,850,000.00 1,850,000.00 1,850,000.00 -1,850.00 -1,850.00 -28,150.00 Target Value 1,848,150.00 09/15/2005 4.263657% 1,820,000.00 09/15/2005 4.593151 % 1,850,000.00 Target Date Yield 09/15/2005 4.242261% Aug 26, 2005 11: 36 am Prepared by RF A (c:\data\dbc files\woodburn\URA:05URA-FINAL) Page 4 FORM 8038 STATISTICS Woodburn Urban Renewal Agency, Series 2005 FINAL Quarterly Principal and Interest Payments Bank of America Placement Debt Reserve Fund from Cash FINAL RATE 4.22% (LOCKED) Dated Date 09/15/2005 Delivery Date 09/15/2005 Redemption Bond Component Date Principal Coupon Price Issue Price at Maturity Serial: 12/15/2005 4.220% 100.000 03/15/2006 4.220% 100.000 06/15/2006 4.220% 100.000 09/15/2006 4.220% 100.000 12/15/2006 4.220% 100.000 03/15/2007 4.220% 100.000 06/15/2007 4.220% 100.000 09/15/2007 4.220% 100.000 12/15/2007 4.220% 100.000 03/15/2008 4.220% 100.000 06/15/2008 4.220% 100.000 09/15/2008 4.220% 100.000 12/15/2008 4.220% 100.000 03/15/2009 4.220% 100.000 06/15/2009 4.220% 100.000 09/15/2009 4.220% 100.000 12/15/2009 4.220% 100.000 03/15/2010 4.220% 100.000 06/15/2010 4.220% 100.000 09/15/2010 4.220% 100.000 12/15/2010 4.220% 100.000 03/15/2011 4.220% 100.000 06/15/2011 4.220% 100.000 09/15/2011 4.220% 100.000 12/15/2011 4.220% 100.000 03/15/2012 4.220% 100.000 06/15/2012 4.220% 100.000 09/15/2012 4.220% 100.000 12/15/2012 4.220% 100.000 03/15/2013 4.220% 100.000 06/15/2013 4.220% 100.000 09/15/2013 4.220% 100.000 12/15/2013 4.220% 100.000 03/15/2014 4.220% 100.000 06/15/2014 4.220% 100.000 09/15/2014 4.220% 100.000 12/15/2014 4.220% 100.000 03/15/2015 4.220% 100.000 06/15/2015 4.220% 100.000 09/15/2015 1,850,000.00 4.220% 100.000 1,850,00000 1,850,000.00 1,850,000.00 1,850,000.00 1,850,000.00 Aug 26, 2005 11 :36 am Prepared by RFA (c:\data\dbc files\woodburn\URA:05URA-FINAL) Page 5 FORM 8038 STATISTICS Woodburn Urban Renewal Agency, Series 2005 FINAL Quarterly Principal and Interest Payments Bank of America Placement Debt ReseNe Fund from Cash FINAL RATE 4.22% (LOCKED) Maturity Date Stated Redemption at Maturity Interest Rate Issue Price Weighted Average Maturity Yield Net Interest Cost Final Maturity Entire Issue 1,850,000.00 1,850,000.00 2.3099% 09/15/2015 4.220% 1,850,000.00 1,850,000.00 10.0000 4.2423% Proceeds used for accrued interest Proceeds used for bond issuance costs (including underwriters' discount) Proceeds used for credit enhancement Proceeds allocated to reasonably required reseNe or replacement fund 0.00 30,000.00 0.00 000 Aug 26, 2005 11:36 am Prepared by RFA (c:\data\dbc files\woodburn\URA:05URA-FINAL) Page 6 PROOF OF ARBITRAGE YIELD Woodburn Urban Renewal Agency, Series 2005 FINAL Quarterly Principal and Interest Payments Bank of America Placement Debt Reserve Fund from Cash FINAL RATE 4.22% (LOCKED) Present Value to 09/15/2005 Date Debt Service @ 4.2422607% 12/15/2005 56,933.07 56,338.70 03/15/2006 56,933.07 55,750.53 06/15/2006 56,933.07 55,168.50 09/15/2006 56,933.07 54,592.55 12/15/2006 56,933.07 54,022.61 03/15/2007 56,933.07 53,458.62 06/15/2007 56,933.07 52,900.52 09/15/2007 56,933.07 52,348.25 12/15/2007 56,933.07 51,801.74 03/15/2008 56,933.07 51,26094 06/15/2008 56,933.07 50,725.78 09/15/2008 56,933.07 50,196.21 12/15/2008 56,933.07 49,672.17 03/15/2009 56,933.07 49,153.60 06/15/2009 56,933.07 48,640.44 09/15/2009 56,933.07 48,132.64 12/15/2009 56,933.07 47,630.14 03/15/2010 56,933.07 47,132.89 06/15/2010 56,933.07 46,640.83 09/15/2010 56,933.07 46,153.91 12/15/2010 56,933.07 45,672.07 03/15/2011 56,933.07 45,195.26 06/15/2011 56,933.07 44,723.42 09/15/2011 56,933.07 44,256.52 12/15/2011 56,933.07 43,794.49 03/15/2012 56,933.07 43,337.28 06/15/2012 56,933.07 42,884.84 09/15/2012 56,933.07 42,437.13 12/15/2012 56,933.07 41,994.09 03/15/2013 56,933.07 41,555.68 06/15/2013 56,933.07 41,121.85 09/15/2013 56,93307 40,692.54 12/15/2013 56,933.07 40,26771 03/15/2014 56,933.07 39,847.33 06/15/2014 56,933.07 39,431.32 09/15/2014 56,933.07 39,019.67 12/15/2014 56,933.07 38,612.31 03/15/2015 56,933.07 38,209.20 06/15/2015 56,93307 37,810.30 09/15/2015 56,932.86 37,415.43 2,277,322.59 1,850,000.00 Proceeds Summary Delivery date 09/15/2005 Par Value 1,850,000.00 Target for yield calculation 1,850,000.00 Aug 26, 2005 11: 36 am Prepared by RF A (c:\data\dbc files\woodburn\URA:05URA-FINAL) Page 7