Summary of Appendix A - Preliminary Amortization Schedule

Appendix A is a preliminary amortization schedule supporting the City of New Smyrna Beach, Florida's request for proposals for a tax-exempt, general obligation fixed rate loan of $5,500,000. The loan will finance the acquisition of lands along the Turnbull Creek Watershed and associated issuance costs. Proposals are due on October 15, 2025, at 2:00 pm, with an evaluation meeting scheduled for October 17, 2025, and loan closing expected on or before November 14, 2025. The financing has a final maturity date of July 1, 2045, with annual principal payments commencing July 1, 2026. The City's Purchasing Agent, working with Hilltop Securities Inc. as Financial Advisor, will evaluate all submittals and provide a comprehensive analysis of proposals, with the final award decision based on the lowest overall borrowing cost while meeting the City's financing requirements.

The preliminary amortization schedule establishes a 20-year repayment structure with annual principal payments ranging from $259,000 in the first year (7/1/2026) to $398,000 in the final year (7/1/2045), totaling $5,500,000. The schedule is subject to change and serves as the basis for evaluating financing proposals from qualified financial institutions. The loan will be secured by the full faith, credit, and taxing power of the City, with direct ad valorem tax levy authority to ensure debt service payment. The City's strong financial position, evidenced by a diverse tax base with the top 10 taxpayers representing only 3.13% of assessed taxable value, demonstrates financial stability and low concentration risk for the proposed obligation.