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Old 12-20-2022, 01:07 PM   #229
longislander
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Am I on the right track?

Just got back from Heath's. Making a stir-fry tonight.

Yes you are correct regarding the operating costs, they are not included. However, each of the 15 years has a different Y-Est Tax Rate Inc.., since the principal or interest has yearly change.The Hub estimate is $14,243,415 and the 2022 town valuation is $4,892,023,118.

I did two bonds, one, a Level Debt bond and the other for a Level Principal bond principal $14,243,415 at 5.25% interest for 15 years. I should say they are NHMBB, NH Municipal Bond Bank bonds, not mine. The calculation for what is the last column is mine, but the number is on the bond.

Here are the numbers from the last column of the Level Debt bond: the first year is .07 but is interest only. Year two is .27, the rest of the years are .28

Here are the numbers for the Level Principal bond: .07,.34, .33,.32,.31,.30,.29,28,.27,.26, 25,.24,.23, .22, .21, and two for last year .21,.20 (Feb & Aug.)


At the end of the 15years:
Level Debt bond: total Interest $6,692,400.02
Total payments for 15 years: $20,935,815.02

Level Principal bond:total interest $5,959,762.52
Total Payments for 15 years: $20,203,177.52.

Each year has a different total.

.07/1000 of $4,892,023,118 is $342,441 the interest only for the first year only, not what it will cost per year.
The $14,243,415 cost is 29% of the present town valuation of $4,892,023,118.

I won't post here the annual costs principal and interest for each for type of bond,but I have in the bonds in PDF format. Haven't tried to post a PDF yet.

The bond will probably be more because at the 12/15/22 select board meeting it was mentioned a number of $15 mllion was going to be used. Probably another million plus in the end.

This expense should show up annually in the budget (didn't say operating cost).
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