The Annual Financing Costs would be $891,562.75.
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| O/S Borrowings on Multi-Plex Facility. |
Don Quixote Note: What are the current O/S Borrowings re the Multi-Plex: Annual Taxpayer Requisition for 2013 was $1,273,018. Of this $465,689 went towards interest and the balance towards Prin. & Actuarial. The 2015 Requisition (if referendum passes for Ice Sheet Addition) will add $891,562 to tax requisition required. (at an est. Interest rate of 3.5%)
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The Majority of the Existing O/S Tax requisition ($1,231,960 ) will end in 6 years in 2020. This annual requisition is charged to improvements only.
3 comments:
free land and the ice plant already there, maybe somebody can explain where the 13 mil is going?
Unless I missed something in the spreadsheet, the annual interest cost should be reduced yearly due to the descending balance after the capital payment has been applied.
Since when did the financing of a project require that interest be calculated on the original balance for the term of the loan?
Semi/Annual interest is calculated normally on the descending balance, not on the original amount for the 20 year period.
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