RTM Budget Agenda - DAY 2 (linked)

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BUDGET FUNCTION
The town typically incurs monetary debt in the form of long-term (20 year) bonds used as a
funding source for long-term capital projects. The debt service budget defines the amount of
both principal and interest that the town will pay its creditors (typically bondholders) in a given
fiscal year.
The debt service budget can also be used to manage repayment of shorter-term multi-year
debt. (Note that large capital projects may be funded by any combination of long term
borrowing, general fund appropriations, short-term borrowing, grants, special assessments,
special revenue fund appropriation, and donations to fully fund a given project. The debt
service budget addresses borrowed funds.
References:
Charter Section 3.2.3 Capital Plans (First Selectman)
Ordinance 2.04.170 - Budget Preparation and Submission (RTM)
Ordinance 2.04.180 — Appropriations (RTM)
Conn Statutes: C.G.S.A. § 7-369 et seq.

BUDGET SUMMARY
The FY25 budget request is $38,504 (0.47%) lower than fiscal year 2024 due to reduced
payments on outstanding bonds.
PAST AND & FUTURE DEBT PAYMENTS
$7,389,902
$7,564,397
$7,9341533
$7,197,460
$8,148,250
$8,109,746
$7,964,500
$7,478,426
$6,374,375
$6,402,762
$5,857,770
| @FY20 @FY21 BFY22 mFY23 mFY24 MFY25 MFY26 MFY27 BFY28 @ FY29 mFY30

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Town of Waterford
Bonded Debt History
Original Issues
2007 G.O. Bonds — Additions and Renovations to Clark Lane Middle School $15,865,000
2009 G.O. Bonds — Additions and Renovations to Quaker Hill Elementary School S 8,500,000
2011 G.O. Bonds — Additions and Renovations to Oswegatchie Elementary School $14,000,000
2012 G.O. Bonds — Additions and Renovations Great Neck Elementary School $15,640,000
2013 G.O. Bonds — Additions and Renovations to Waterford High School $33,750,000
2014 G.O. Bonds — Additions and Renovations to Waterford High School $13,700,000
Renovations Quaker Hill Elementary S 851,545
Renovations Oswegatchie Elementary S$ 720,425
Renovations Great Neck Elementary S 658,030
Total $15,930,000
2020 G.O. Bonds — Municipal Complex Garage Addition and Renovations $13,655,000
Total Bonded $15,096,084
Refunding Issues
2014 G.O. Refunding Bonds Refunding of G.O. Bonds, Issue 2007 $ 9,440,000
Original 2007 Issue $15,865,000 for Additions and Renovations to Clark Lane Middle School
2017 G.O. Refunding Bonds $14,585,000
Refunding of G.O. Bonds, Issue 2009 S 4,900,000
Refunding of G.O. Bonds, Issue 2011 S 7,350,000
Refunding of G.O. Bonds, Issue 2013 S 4,000,000
Total Refunded $16,250,000
2019 G.O. Refunding Bonds Refunding of G.O. Bonds, Issue 2012 S 9,085,000
Total Refunded $10,375,000
2020 G.O. Refunding Bonds Refunding of G.O. Bonds, Issue 2013 $17,585,000
Refunding of G.O. Bonds, Issue 2014 $10,115,000
Total Refunded $28,890,000

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90 Avon Meadow Lane
Avon, CT 06001
(T) 860-321-7521
‘(F) 860-321-7581
American Municipal Tax-Exempt Compliance ; www.amteccorp.com
Town of Waterford (“Issuer”) Day Pitney, LLP (“Bond Counsel”)
15 Rope Ferry Road - 242 Trumbull Street
Waterford, CT 06385 Hartford, CT 06103
Hilltop Securities Inc. (“Financial Advisor”) Robert W. Baird & Co., Inc. (“Senior Manager”)
129 Samson Rock Drive, Suite A One Harding Road, Suite 207
Madison, CT 06443 ~ Red Bank, NJ 07701
U.S. Bank National Association
(“Paying/Escrow Agent”)
CityPlace I, 185 Asylum Street, 27" Floor
Hartford, CT 06103
Town of Waterford, Connecticut
General Obligation Refunding Bonds, Series 2020B (Federally Taxable)
The Town of Waterford, Connecticut proposes to issue the above referenced General Obligation Refunding ©
Bonds, Series 2020B (Federally Taxable) (the “Bonds”). The Bonds are dated December 30, 2020 and will be
_issued on December 30, 2020. The Bonds consist of $28,890,000 Serial Bonds.
A portion of the proceeds of the Bonds will be used to purchase United States Treasury Securities — State and
Local Government Series (the “Acquired Obligations”), together with an initial cash deposit, which will be
placed in an irrevocable escrow fund, to be used solely to refund that portion of the Issuer’s General Obligation
Bonds, Issue of 2013-and General Obligation Bonds, Issue of 2014 described below (collectively, the “Refunded
Bonds”).
Principal Principal Maturities Redemption Redemption
Series Issued Dated Refunded Refunded Date Price
2013 $33,750,000 3/15/13 $17,585,000 - 8/15/22 to 8/15/32 8/15/21 100%
2014 $15,930,000 3/17/14 $10,115,000 - 3/15/24 to 3/15/34 3/15/22 100%
At your request, we have independently calculated, based on information and assumptions as provided to us by
the Financial Advisor, that the receipts from the Acquired Obligations, along with the initial cash deposit, will be
sufficient to pay to and at redemption, the principal and interest on the Refunded Bonds.
At your request, we have independently verified the arithmetical accuracy of the computations based on
schedules provided to us by the Financial Advisor. We have relied solely on the assumptions and information,
as provided to us by the Financial Advisor, and have not made any study or evaluation of them, except as noted
below. We express no opinion on the reasonableness of the assumptions, or the likelihood that the debt service
requirements of the Refunded Bonds will be paid as described in the accompanying exhibits.

C)
General Obligation Bonds, Issue of 2013
Maturity Amount Interest Redemption Redemption
Issue Dated Date Date Outstanding _ Rate Date Price
2013 3/15/2013 8/15/2022 $1,755,000 * 2.000% 8/15/2021 100.00%
2013 3/15/2013 8/15/2023 1,955,000' 2.250 8/15/2021 100.00
2013 3/15/2013 8/15/2024 1,955,000 - 2.250 8/15/2021 100.00
2013 3/15/2013. 8/15/2025 2,000,000 2.500 8/15/2021 100.00
2013 3/15/2013 8/15/2028 2,000,000 3.250 8/15/2021 100.00
2013 3/15/2013 8/15/2029 2,000,000 3.000 8/15/2021 100.00
2013 3/15/2013 8/15/2030 2,000,000 3.000 8/15/2021 100.00
2013 3/15/2013 8/15/2031 1,970,000 3.100 8/15/2021 100.00
2013 3/15/2013 8/15/2032 1,950,000 3.500 8/15/2021 ‘100.00
17,585,000
General Obligation Bonds, Issue of 2014
Maturity Amount Interest Redemption Redemption
Issue Dated Date Date Outstanding _ Rate Date Price
2014 3/17/2014 3/15/2024 875,000 3,000 3/15/2022 100.00
2014 3/17/2014 3/15/2025 875,000 3.000 3/15/2022 100.00
2014 3/17/2014 3/15/2026 920,000 3.000 3/15/2022 100.00
2014 3/17/2014 = 3/15/2027 925,000 3.000 3/15/2022 100.00
2014 3/17/2014 3/15/2028 925,000 3.200 3/15/2022 100.00
2014 3/17/2014 3/15/2029 925,000 3,250 3/15/2022 100.00
2014 3/17/2014 3/15/2030 925,000 3.500 3/15/2022 100.00
2014 3/17/2014 3/15/2031 925,000 3.625 3/15/2022 100.00
2014 3/17/2014 3/15/2032 940,000 3.750 3/15/2022 100.00
2014 3/17/2014 3/15/2033 940,000 - 3.875 3/15/2022 100.00
2014 3/17/2014 3/15/2034 940,000. 3.875 3/15/2022 100.00
$10,115,000
LO tal iesdisiseesene $27,700,000
Upon delivery of the Bonds, a portion of proceeds of the Bonds will be placed in an irrevocable escrow fund (the
- “Escrow Deposit Fund”) established with U.S. Bank National Association, as escrow agent (the “Escrow Agent”)
under an Escrow Agreement (the “Escrow Agreement”) dated as of the date of delivery of the Bonds, between the
Escrow Agent and the Town. The Escrow Agent will use such proceeds to purchase a portfolio of non-callable direct
obligations guaranteed by the government of the United States of America, including United States Treasury State
and Local Government Series (“SLGS”) securities, Federal National Mortgage Association (“FNMA”) securities and
any other securities permitted by Section 7-400 of the Connecticut General Statutes, all of which shall not be callable
or prepayable at the option of the issuer of the securities (the “Escrow Securities”), the principal of and interest on
which, when due, will provide amounts sufficient to pay the principal, interest and redemption premium on the
Refunded Bonds to the redemption dates or maturity (the “Escrow Requirements”). All investment income on and
maturing principal of the Escrow Securities held in the Escrow Deposit Fund and needed to pay the principal, interest
and redemption premium on the Refunded Bonds will be irrevocably deposited by the Town for payment of the
Refunded Bonds. The balance of the proceeds of the Bonds will be used to pay costs of issuance and Underwriter’s
discount. a

Ao hetund S03 # Lory Refene
Prepared by AMTEC (Finance 8.500)
( \ BOND DEBT SERVICE
}
Town of Waterford, Connecticut
General Obligation Refunding Bonds, Series 2020B (Federally Taxable)
Dated Date | 12/30/2020
Delivery Date 12/30/2020
Period Annual
Ending Principal Coupon Interest . Debt Service Debt Service
02/15/2021 43,932.19 43,932.19
06/30/2021 43,932.19
08/15/2021 175,728.75 175,728.75
02/15/2022 175,728.75 175,728.75
06/30/2022 351,457.50
08/15/2022 1,180,000 0.290% 175,728.75 1,355,728.75
02/15/2023 174,017.75 174,017.75
06/30/2023 1,529,746.50
08/15/2023 3,195,000 0.370% 174,017.75 3,369,017.75
02/15/2024 168,107.00 168,107.00
06/30/2024 3,537,124.75
08/15/2024 3,135,000 0.620% 168,107.00 3,303,107.00
02/15/2025 158,388.50 158,388.50
06/30/2025 . 3,461,495.50
. .08/15/2025 3,180,000 0.780% 158,388.50 3,338,388.50
CN 02/15/2026 145,986.50 145,986.50
Ly 06/30/2026 3,484,375.00
08/15/2026 1,150,000 1.030% 145,986.50 1,295,986.50
02/15/2027 140,064.00 140,064.00
06/30/2027 ; 1,436,050.50
08/15/2027 1,135,000 1.190% 140,064.00 1,275,064.00
02/15/2028 133,310.75 * 133,310.75
06/30/2028 1,408,374.75
08/15/2028 3,100,000 1.470% 133,310.75 3,233,310.75
02/15/2029 110,525.75 110,525.75
06/30/2029 3,343,836.50
08/15/2029 3,055,000 1.570% 110,525.75 3,165,525.75
02/15/2030 86,544.00 86,544.00
06/30/2030 3,252,069.75
08/15/2030 3,015,000 1.670% 86,544.00 3,101,544.00
02/15/2031 61,368.75 61,368.75
06/30/2031 3,162,912.75
” 08/15/2031 2,950,000 1.750% 61,368.75 3,011,368.75
02/15/2032 35,556.25 35,556.25
06/30/2032 3,046,925.00
08/15/2032 2,890,000 1.850% 35,556.25 2,925,556.25
02/15/2033 8,823.75 8,823.75
06/30/2033 2,934,380.00
08/15/2033 905,000 1.950% 8,823.75 913,823.75
06/30/2034 913,823.75 |
28,890,000 3,016,504.44 31,906,504.44
31,906,504.44

Prepared by AMTEC
(Finance 8.500)
PROOF OF ARBITRAGE YIELD
Town of Waterford, Connecticut
General Obligation Refunding Bonds, Series 2020B (Federally Taxable)
Present Value
to 12/30/2020
Date Debt Service Total @ 1.4572961436% ©
02/15/2021 43,932.19 43,932.19 43,852.52
08/15/2021 175,728.75 175,728.75 174,141.21
02/15/2022 175,728.75 175,728.75 172,881.51
08/15/2022 1,355,728.75 1,355,728.75 1,324,114.49
02/15/2023 174,017.75 174,017.75 168,730.38
08/15/2023 3,369,017.75 3,369,017.75 3,243,022.95
02/15/2024 © 168,107.00 168,107.00 160,649.55
08/15/2024 3,303,107.00 3,303,107.00 3,133,742.84
02/15/2025 _ 158,388.50 158,388.50 149,180.26
08/15/2025 3,338,388.50 3,338,388.50 3,121,559.22
02/15/2026 145,986.50 145,986.50 135,517.19
08/15/2026 1,295,986.50 1,295,986.50 1,194,343 .28
02/15/2027 140,064.00 140,064.00 128,145.16
08/15/2027 1,275,064.00 1,275,064.00 1,158,122.95
02/15/2028 - 133,310.75 133,310.75 120,208.41
08/15/2028 3,233,310.75 3,233,310.75 2,894,437.11
02/15/2029 110,525.75 110,525.75 98,226.15
08/15/2029 3,165,525.75 3,165,525.75 ~ 2,792,907.24
02/15/2030 86,544.00 86,544.00: 75,804.44
() 08/15/2030 3,101,544.00 3,101,544.00 2,697,010.26
02/15/2031 61,368.75 61,368.75 52,978.41
08/15/2031 3,011,368.75 3,011,368.75 2,580,848.91
02/15/2032 35,556.25 35,556.25 305252.52
08/15/2032 2,925,556.25 2,925,556.25 2,471,161.24
02/15/2033 8,823.75 8,823.75 7,399.34
08/15/2033 913,823.75 913,823.75 760,762.44
31,906,504.44 31,906,504.44 28,890,000.00
Proceeds Summary
Delivery date 12/30/2020
Par Value 28,890,000.00
Target for yield calculation 28,890,000.00

wes
Prepared by AMTEC
(Finance 8.500)
SAVINGS
Town of Waterford, Connecticut
General Obligation Refunding Bonds, Series 2020B (Federally Taxable)
Present Value
Prior Refunding to 12/30/2020
Date Debt Service Debt Service Savings @ 1.4572961%
06/30/2021 414,456.88 43,932.19 370,524.69 369,646.67
06/30/2022 828,913.76 351,457.50 477,456.26 471,023.82
06/30/2023 2,566,363.76 1,529,746.50 1,036,617.26 —- 1,010,467.74
06/30/2024 3,601,820.01 3,537,124.75 64,695.26 53,335.62
06/30/2025 3,531,582.51 3,461,495.50 70,087.01 57,886.39
06/30/2026 3,548,338.76 3,484,375.00 63,963.76 51,175.07
06/30/2027 1,500,738.76 1,436,050.50 64,688.26 51,149.35
06/30/2028 1,472,988.76 1,408,374.75 64,614.01 50,421.74
06/30/2029 3,410,888.76 3,343,836.50 67,052.26 52,068.28
06/30/2030 3,318,326.26 3,252,069.75 66,256.51 50,781.93
06/30/2031 3,225,951.26 3,162,912.75 63,038.51 47,417.71
06/30/2032 3,116,885.00 3,046,925.00 69,960.00 52,725.55
06/30/2033 2,996,975.00 2,934,380.00 62,595.00 45,933.17
06/30/2034 976,425.00 913,823.75 62,601.25 45,369.31
34,510,654.48 31,906,504.44 2,604,150.04 2,409,402.34
Savings Summary
PV of savings from cash flow 2,409,402.34
Plus: Refunding funds on hand 3,869.32
_ Net PV Savings
2,413,271.66
Pe)

HilltopSecurities POC
Akiltop Holdings Company. “ UMC pal| Com plex
a BOND DEBT SERVICE
ko }
Town of Waterford, Connecticut
General Obligation Bonds, Series 2020
FINAL NUMBERS
Period :
Ending Principal Coupon Interest Debt Service
06/30/2021 306,175.56 306,175.56
06/30/2022 685,000 5.000% 457,975.00 1,142,975.00
06/30/2023 685,000 - 5.000% 423,725.00 1,108,725.00
06/30/2024 685,000 5.000% 389,475.00 1,074,475.00
06/30/2025 685,000 5,000% 355,225.00 1,040,225.00
06/30/2026 685,000 5.000% 320,975.00 1,005,975.00
* 06/30/2027 685,000 5.000% 286,725.00 971,725.00
06/30/2028 685,000 5.000% 252,475.00 937,475.00
06/30/2029 685,000 5.000% 218,225.00 903,225.00
06/30/2030 685,000 4.000% 187,400.00 872,400.00
06/30/2031 685,000 3.000% 163,425.00 848,425.00
06/30/2032 685,000 3.000% 142,875.00 827,875.00
06/30/2033 680,000 3.000% © 122,400.00 802,400.00
06/30/2034 680,000 2.000% 105,400.00 785,400.00
06/30/2035 680,000 2.000% : 91,800.00 771,800.00
06/30/2036 680,000 2.000% 78,200.00 758,200.00
06/30/2037 680,000 2.000% — 64,600.00 744,600.00
06/30/2038 680,000 2.125% 50,575.00 730,575.00
06/30/2039 680,000 2.125% 36,125.00 716,125.00
[ON 06/30/2040 680,000 2.125% 21,675.00 701,675.00
Ss ) 06/30/2041 680,000 2.125% 7,225.00 687,225.00
13,655,000 4,082,675.56 17,737,675.56
Jul 8, 2020 12:16 pm Prepared by Hilltop Securities Inc. (mjb) (Finance 8.500 Waterford, Connecticut:2020-2020_1) Page 4

Hilltopsecurities FO
AHiilltop Holdings Company.
BOND DEBT SERVICE
Town of Waterford, Connecticut
General Obligation Bonds, Series 2020
Muni cipal Complex
FINAL NUMBERS
Period Annual
Ending Principal Coupon Interest Debt Service Debt Service
03/15/2021 306,175.56 306,175.56
06/30/2021 306,175.56
09/15/2021 685,000 5.000% 237,550.00 922,550.00
03/15/2022 220,425.00 220,425.00
06/30/2022 1,142,975.00
09/15/2022 685,000 5.000% 220,425.00 905,425.00 .
03/15/2023 203,300.00 203,300.00
06/30/2023 1,108,725.00
09/15/2023 685,000 5.000% 203,300.00 888,300.00
03/15/2024 186,175.00 186,175.00
06/30/2024 1,074,475.00
09/15/2024 685,000 5.000% 186,175.00 871,175.00
03/15/2025 169,050.00 169,050.00
06/30/2025 1,040,225.00
09/15/2025 685,000 5.000% 169,050.00 854,050.00
03/15/2026 151,925.00 151,925.00
06/30/2026 1,005,975.00
09/15/2026 685,000 5.000% 151,925.00 836,925.00 ,
03/15/2027 134,800.00 134,800.00
06/30/2027 971,725.00
09/15/2027 685,000 5.000% 134,800.00 819,800.00 .
03/15/2028 117,675.00 117,675.00
06/30/2028 937,475.00
09/15/2028 685,000 5.000% 117,675.00 802,675.00
03/15/2029 100,550.00 100,550.00 ;
06/30/2029 903,225.00
09/15/2029 685,000 4.000% 100,550.00 785,550.00
“ 03/15/2030 86,850.00 86,850.00
) 06/30/2030 872,400.00
Si 09/15/2030 685,000 3.000% 86,850.00 771,850.00
03/15/2031 76,575.00 76,575.00
06/30/2031 848,425.00
09/15/2031 | 685,000 3.000% _ 76,575.00 761,575.00
03/15/2032 66,300.00 66,300.00
06/30/2032 827,875.00
09/15/2032 680,000 3.000% 66,300.00 746,300.00
03/15/2033 56,100.00 56,100.00
06/30/2033 802,400.00
09/15/2033 680,000 2.000% 56,100.00 736,100.00
03/15/2034 49,300.00 49,300.00
06/30/2034 785,400.00
09/15/2034 680,000 2.000% 49,300.00 729,300.00
03/15/2035 42,500.00 42,500.00
06/30/2035 : 771,800.00
09/15/2035 680,000 2.000% 42,500.00 | 722,500.00
‘03/15/2036 35,700.00 35,700.00
06/30/2036 : 758,200.00
09/15/2036 680,000 2.000% 35,700.00 715,700.00
03/15/2037 28,900.00 28,900.00
06/30/2037 _ 744,600.00
09/15/2037 680,000 2.125% 28,900.00 708,900.00 i
03/15/2038 21,675.00 21,675.00
06/30/2038 730,575.00
09/15/2038 680,000 2.125% 21,675.00 701,675.00
03/15/2039 14,450.00 14,450.00
06/30/2039 716,125.00
09/15/2039 680,000 2.125% 14,450.00 694,450.00
03/15/2040 7,225.00 7,225.00
06/30/2040 701,675.00
09/15/2040 680,000 2.125% "7,225.00 687,225.00
06/30/2041 687,225.00
13,655,000 4,082,675.56 17,737,675.56 —17,737,675.56
Jul 8, 2020 12:16 pm Prepared by Hilltop Securities Inc. (mjb)
(Finance 8.500 Waterford, Connecticut:2020-2020_1) Page 5

HilltopSecurities 5
AHiltop Holdings Company.
Waterford Outstanding Debt Post 2019 Refunding
BOND DEBT SERVICE
Period . ;
Ending Principal Coupon Interest Debt Service
06/30/2021 5,060,000 ee % 2,344,370.57 7,404,370.57
06/30/2022 5,155,000 ee % 2,114,113.76 7,269,113.76
06/30/2023 5,200,000 me OG 1,925,351.26 7,125,351.26
06/30/2024 5,400,000 *e % 1,738,470.01 ‘ 7,138,470.01
06/30/2025 5,605,000 *e % 1,534,607.51 7,139,607.51
06/30/2026 5,700,000 ae 1,322,488.76 7,022,488.76
06/30/2027 5,485,000 xe % 1,086,388.76 6,571,388.76
06/30/2028 4,650,000 ek % 851,513.76 5,501,513.76
06/30/2029 - 4,910,000 BMY 656,588.76 5,566,588.76
* 06/30/2030 ‘4,560,000 *k % 491,626.26 5,051,626.26
06/30/2031 4,565,000 ee % 333,751.26 4,898,751.26
06/30/2032 2,910,000 eK % 206,885.00 3,116,885.00
06/30/2033 ‘2,890,000 ee % 106,975.00 2,996,975.00
06/30/2034 940,000 3.875% 36,425.00 976,425.00
63,030,000 14,749,555.67 77,779,555.67
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc)
(Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 1

HilltopSecurities A
AHilltop Holdings Company.
i
Sie!
Ni
DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut
2012 General Obligation Bonds - Post 2019 Refunding
Bond Component
Annual
Period ‘Debt Debt
Ending Principal Interest ~ Service Service
0 0 0 0
Jan 14,2020 3:43 pm Prepared by HilltopSecurities (sc)
(Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 2
Uf

HilltopSecurities A
AHilltop Holdings Company.
VOID Kelinel lag
DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut
$9,085,000 General Obligation Bonds, Series 2019
, Final Numbers
Bond Component
Perlod Annual
Ending Principal Coupon Interest . Debt Service Debt Service
08/01/2020 655,000 4.000% 245,844.31 900,844.31
02/01/2021 196,625.00 196,625.00
06/30/2021 : 1,097,469.31
08/01/2021 700,000 5.000% 196,625.00 896,625.00
02/01/2022 179,125.00 179,125.00 j
06/30/2022 . . 1,075,750.00
08/01/2022 715,000 5.000% 179,125.00 894,125.00
02/01/2023 161,250.00 161,250.00
06/30/2023 1,055,375.00
08/01/2023 675,000 5.000% 161,250.00 836,250.00
02/01/2024 144,375.00 144,375.00 .
06/30/2024 ; 980,625.00
08/01/2024 855,000 5.000% 144,375.00 999,375.00
02/01/2025 123,000.00 123,000.00 :
06/30/2025 1,122,375.00
08/01/2025 870,000 5.000% 123,000.00 993,000.00 :
02/01/2026 101,250.00 101,250.00 .
06/30/2026 . 1,094,250.00
08/01/2026 885,000 5.000% 101,250.00 986,250.00 , ;
02/01/2027 79,125.00 79,125.00
06/30/2027 ; 1,065,375.00
08/01/2027 905,000 © 5.000% 79,125.00 984,125.00
02/01/2028 56,500.00 56,500.00
' 06/30/2028 ; 1,040,625.00
08/01/2028 915,000 4.000% 56,500.00 971,500.00
02/01/2029 38,200.00 38,200.00
06/30/2029 1,009,700.00
08/01/2029 950,000 4.000% 38,200.00 988,200.00
02/01/2030 19,200.00 ‘19,200.00
06/30/2030 1,007,400.00
08/01/2030 960,000 4.000% 19,200.00 979,200.00 .
06/30/2031 979,200.00
9,085,000 2,443,144.31 11,528,144.31 11,528,144.31
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc)
_(Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page7

HilltopSecurities I
AHitltop Holdings Company.
DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut
GO Bonds, Issue of 2011 - Post 2017 Refunding
Bond Component
Period Annual
Ending Principal Coupon Interest Debt Service Debt Service
08/01/2020 735,000 2.500% 9,187.50 744,187.50
06/30/2021 744,187.50
735,000 9,187.50 744,187.50 744,187.50
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc)
(Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 8
LU,
ff

HilltopSecurities Sa
AHiltop Holdings Company.
A017 Keftund rng
DETAILED BOND DEBT SERVICE
Town of Waterford; Connecticut
$14,585,000 General Obligation Refunding Bonds, Issue of 2017
Bond Component
Annial
Period Debt Debt
Ending Principal Coupon Interest Service Service
08/01/2020 325,000 3.000% 317,575 642,575
02/01/2021 312,700 312,700
06/30/2021 ; 955,275
08/01/2021 1,050,000 3.000% 312,700 1,362,700
02/01/2022 296,950 ‘296,950
06/30/2022 . ' 1,659,650
08/01/2022 1,055,000 5.000% 296,950 1,351,950 ,
02/01/2023 "270,575 270,575
06/30/2023 . 1,622,525
08/01/2023 1,070,000 5.000% 270,575 1,340,575
02/01/2024 243,825 243,825
06/30/2024 1,584,400
08/01/2024 1,085,000 5.000% 243,825- 1,328,825 :
02/01/2025 216,700 - 216,700
06/30/2025 1,545,525
08/01/2025 1,070,000 5.000% 216,700 1,286,700
02/01/2026 189,950 189,950
06/30/2026 : - 1,476,650
08/01/2026 2,830,000 5.000% 189,950 3,019,950
02/01/2027 119,200 119,200
06/30/2027 3,139,150
_ 08/01/2027 2,820,000 5.000% 119,200 2,939,200 ,
02/01/2028 48,700 48,700
06/30/2028 2,987,900
08/01/2028 © 1,070,000 4.000% 48,700 1,118,700
02/01/2029 27,300 27,300
06/30/2029 1,146,000
08/01/2029 685,000 4.000% 27,300 712,300 he
02/01/2030 2 13,600 13,600
06/30/2030 : 725,900
08/01/2030 680,000 4.000% 13,600 693,600
06/30/2031 , ; 693,600
13,740,000 3,796,575 - 17,536,575 17,536,575
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc)
(Firiance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 6

HilltopSecurities FOC
AHiltop Holdings Company. ;
JOY Kefund ing
riod Ing
() DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut
$9,440,000 General Obligation Refunding Bonds, Issue of 2014
Period ; Annual
Ending Principal Coupon Interest Debt Service Debt Service -
08/15/2020 840,000 5.000% 130,637.50 970,637.50
02/15/2021 109,637.50 109,637.50
06/30/2021 1,080,275.00
08/15/2021 835,000 3.000% 109,637.50 944,637.50
02/15/2022 97,112.50 97,112.50
06/30/2022 . . 1,041,750.00
08/15/2022 830,000 3.250% - 97,112.50 927,112.50
02/15/2023 , 83,625.00 83,625.00
06/30/2023 . , 1,010,737.50
08/15/2023 825,000 5.000% 83,625.00 908,625.00
02/15/2024 , 63,000.00 63,000.00
06/30/2024 : , 971,625.00
08/15/2024 835,000 5.000% 63,000.00 898,000.00
a 02/15/2025 42,125.00 42,125.00
06/30/2025 : 940,125.00
SS 08/15/2025 840,000 5.000% 42,125.00 882,125.00
02/15/2026 21,125.00 21,125.00 :
06/30/2026 903,250.00
08/15/2026 845,000 5.000% 21,125.00 866,125.00
06/30/2027 866,125.00
5,850,000 963,887.50 6,813,887.50 6,813,887.50
Bond Component
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc)
(Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 5

.HilltopSecurities A
AHiltop Holdings Company.
/
Nee
DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut
$15,930,000 General Obligation Bonds, Issue of 2014
Bond Component
Period Annual
Ending Principal Coupon Interest Debt Service Debt Service
09/15/2020 214,734.38 214,734.38
03/15/2021 750,000 4.000% 214,734.38 964,734.38
06/30/2021 ; 1,179,468.76
09/15/2021 199,734.38 199,734.38
03/15/2022 815,000 4.000% 199,734.38 1,014,734.38
06/30/2022 1,214,468.76
09/15/2022 183,434.38 183,434.38
03/15/2023 845,000 3.000% 183,434.38 1,028,434.38
06/30/2023 , ; 1,211,868.76
09/15/2023 170,759.38 170,759.38
03/15/2024 875,000 3.000% 170,759.38 1,045,759.38
06/30/2024 1,216,518.76
09/15/2024 157,634.38 157,634.38
03/15/2025 875,000 3.000% 157,634.38 1,032,634.38
06/30/2025 1,190,268.76
09/15/2025 144,509.38 144,509.38
03/15/2026 920,000 3.000% 144,509.38 1,064,509.38
06/30/2026 1,209,018.76
09/15/2026 . 130,709.38 - 130,709.38 .
03/15/2027 925,000 3.000% 130,709.38 1,055,709.38
06/30/2027 1,186,418.76
09/15/2027 116,834.38 116,834.38
03/15/2028 925,000 3.200% 116,834.38 1,041,834.38
06/30/2028 1,158,668.76
09/15/2028 102,034.38 102,034.38
03/15/2029 925,000 3.250% 102,034.38 1,027,034.38 .
06/30/2029 1,129,068.76
09/15/2029 © ; 87,003.13 87,003.13
03/15/2030 925,000 3.500% 87,003.13 1,012,003.13
06/30/2030 1,099,006.26
09/15/2030 70,815.63 70,815.63
03/15/2031 925,000 3.625% 70,815.63 995,815.63
06/30/2031 1,066,631.26
09/15/2031 54,050.00 54,050.00
03/15/2032 940,000 3.750% 54,050.00 994,050.00
06/30/2032 1,048,100.00
09/15/2032 36,425.00 36,425.00
03/15/2033 940,000 3.875% 36,425.00 976,425.00
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc)
(Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 3
/

HilltopSecurities Sy
AHiltop Holdings Company.
y) DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut
$15,930,000 General Obligation Bonds, Issue of 2014
Bond Component
Period Annual
Ending Principal Coupon Interest Debt Service Debt Service
06/30/2033 1,012,850.00
09/15/2033 18,212.50 18,212.50
03/15/2034 940,000 _ 3.875% - 18,212.50 958,212.50 ‘
06/30/2034 976,425.00
12,525,000 3,373,781.36 15,898,781.36 15,898,781.36
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc) (Finance 7.015 s:\,..\Outstaning Debt Waterford 6-30-10:POST2019) Page 4

HilltopSecurities a
AHiltop Holdings Company. .
Yee DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut ‘
$33,750,000 Genarl Obligation Bonds, Issue of 2013 - Post 2017 Refunding
Serial Component
Period Annual
Ending Principal Coupon Interest Debt Service Debt Service
08/15/2020 1,755,000 4.000% 313,897.50 2,068,897.50
02/15/2021 278,797.50 278,797.50
06/30/2021 2,347,695.00
08/15/2021 1,755,000 4.000% 278,797.50 2,033,797.50
02/15/2022 243,697.50 243,697.50
06/30/2022 2,277,495.00
08/15/2022 1,755,000 2.000% 243,697.50 1,998,697.50
02/15/2023 226,147.50 226,147.50
06/30/2023 2,224,845.00
08/15/2023 1,955,000 | 2.250% 226,147.50 2,181,147.50
02/15/2024 204,153.75 204,153.75
06/30/2024 2,385,301.25
08/15/2024 1,955,000 2.250% 204,153.75 2,159,153.75
02/15/2025 182,160.00 182,160.00
{> 06/30/2025 2,341,313.75
e 08/15/2025 2,000,000 2.500% 182,160.00 2,182,160.00
02/15/2026 157,160.00 157,160.00
06/30/2026 2,339,320.00
08/15/2026 157,160.00 157,160.00
02/15/2027 157,160.00 157,160.00
06/30/2027 314,320.00
08/15/2027 157,160.00 157,160.00
02/15/2028 157,160.00 157,160.00
06/30/2028 314,320.00
08/15/2028 2,000,000 3.250% 157,160.00 2,157,160.00
02/15/2029 124,660.00 124,660.00
06/30/2029 2,281,820.00
08/15/2029 2,000,000 3.000% 124,660.00 2,124,660.00
02/15/2030 94,660.00 94,660.00
06/30/2030 2,219,320.00
08/15/2030 2,000,000 3.000% 94,660.00 2,094,660.00
02/15/2031 64,660.00 64,660.00
06/30/2031 2,159,320.00
08/15/2031 1,970,000 3.100% 64,660.00 2,034,660.00
02/15/2032 34,125.00 34,125.00
06/30/2032 2,068,785.00
08/15/2032 1,950,000 3.500% 34,125.00 1,984,125.00 -
06/30/2033 1,984,125.00
21,095,000 4,162,980.00 25,257,980.00 25,257,980.00
Jan 14,2020 3:43 pm Prepared by HilltopSecurities (sc)
(Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 9