Board of Selectmen Regular Budget Meeting Materials (linked)

TOWN OF WATERFORD
GENERAL FUND
2021-2022 PROPOSED BUDGET
DEPT/AGENCY: 10139 DEBT SERVICE
12/23/2020
PRINCIPAL & INTEREST
56025 OSWEGATCHIE PRINCIPAL 735.000 735,000 735,000 0 0 (735,000) -100.00%
56026 OSWEGATCHIE INTEREST 33.075 9,190 9,190 0 0 (9,190) -100.00%
56029 HIGH SCHOOL BOND PRINCIPAL 1,550,000 1,755,000 1,755,000} _ 1,755,000 1,755,000 0 0.00%
56032 HIGH SCHOOL BOND INTEREST 658.795 592,700 592,700 35,100 35,100 (557,600) -94.08%
56033 SCHOOLS ISSUE OF 2014 PRINCIPAL 750.000 750,000 750,000 815,000 815,000 65,000 8.67%
56034 SCHOOLS ISSUE OF 2014 INTEREST 459.469 429,470 429,470 57,950 57,950 (371,520) -86.51%
56035 2014 BOND REFUNDING - PRINCIPAL 830.000 840,000 840,000 835,000 835,000 (5,000) -0.60%
56036 2014 BOND REFUNDING - INTEREST 282.025 240,280 240,280 206,750 206,750 (33,530) -13.95%
56037 2017 BOND REFUNDING - PRINCIPAL 330.000 325,000 325,000} 1,050,000 1,050,000 725,000 223.08%
56038 2017 BOND REFUNDING - INTEREST 640.100 630,300 630,300 609,650 609,650 (20,650) -3.28%
56039 2019 BOND REFUNDING PRINCIPAL 0 655,000 655,000 700,000 700,000 45,000 6.87%
56040 2019 BOND REFUNDING INTEREST 0 442,470 442,470 375,750 375,750 (66,720) -15.08%
56041 2019 BAN'S MUNI COMP $10M ISSUE 0 224,380 224,380 0 0 (224,380) -100.00%
56042 2020 MUNICIPAL COMPLEX - PRINCIPAL 0 0 0 685,000 685,000 685,000 #DIV/0!
56043 2020 MUNICIPAL COMPLEX - INTEREST 0 0 0 457,975 457,975 457,975 #DIV/0!
56044 2020 BOND REFUNDING - PRINCIPAL
56045 2020 BOND REFUNDING - INTEREST 351,458 351,458 351,458 #DIV/0!
Principal Subtotal
Interest Subotal
5,840,000
2,094,633

DEBT SERVICE
FISCAL YEAR 2022 BUDGET
Town of Waterford
BUDGET FUNCTION/SUMMARY
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.
The FY22 budget request is $8,412,089 (9.31%) higher than fiscal year 2021 mainly due to the new
Municipal Complex bond that closed in July 2020. There is also a higher payment due for the 2017
Bond Refunding. Note that the Oswegatchie [School] project has been settled during fiscal year
2021.
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.

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

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90 Avon Meadow Lane
Avon, CT 06001
(T) 860-321-7521
(F) 860-321-7581
piri |
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PLL = a 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 8/15/21 100%
2014 $15,930,000 3/17/14 $10,115,000 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.

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
DOTA ssansessxexsse $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.

VOI % lol AKeftunc/
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
02/15/2026 145,986.50 145,986.50
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
C 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 30,252.52
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

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
PV of savings from cash flow
Plus: Refunding funds on hand
2,409,402.34
3,869.32
23

HilltopSecurities FO
Adilltop Holdings Company. “ Uni Ci pa | Co m plex
(— BOND DEBT SERVICE
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
_ 06/30/2040 680,000 2.125% 21,675.00 701,675.00
C ; 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

Hilltopsecurties FOC
Abilltop Holdings Company. M U nic ipa! Compt CX
a BOND DEBT SERVICE
N.So Town of Waterford, Connecticut
General Obligation Bonds, Series 2020
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 §.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 86,350.00
( 06/30/2030 872,400.00
_ 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% 56,100.00 736,160.00
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
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 SH
AHilltop Holdings Company.
BOND DEBT SERVICE
Period
Ending Principal Coupon Interest Debt Service
06/30/2021 5,060,000 ** % 2,344,370.57 7,404,370.57
06/30/2022 5,155,000 2© % 2,114,113.76 7,269,113.76
06/30/2023 5,200,000 me % 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 ee % 1,534,607.51 7,139,607.51
06/30/2026 5,700,000 ** % 1,322,488.76 7,022,488.76
06/30/2027 5,485,000 *E % 1,086,388.76 6,571,388.76
06/30/2028 4,650,000 *E % 851,513.76 5,501,513.76
06/30/2029 4,910,000 ee OY 656,588.76 5,566,588.76
06/30/2030 4,560,000 am % 491,626.26 5,051,626.26
06/30/2031 4,565,000 ** % 333,751.26 4,898,751.26
06/30/2032 2,910,000 *e % 206,885.00 3,116,885.00
06/30/2033 2,890,000 ** % 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) Page1

HilltopSecurities FOe
AHilltop Hokdings Company.
\ DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut
Bond Component
Annual
Period Debt Debt
Ending Principal Interest Service Service
0 0 0 0
\
reed
Jan 14,2020 3:43 pm Prepared by HilltopSecurities (sc) (Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 2

HilltopSecurities Sa
AHilltop Hokdings Company.
L014 Keftunding
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
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
J
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc)
(Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 7

HilltopSecurities Sa
AHilltop Holdings Company.
DETAILED BOND DEBT SERVICE
=
Town of Waterford, Connecticut
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
f
&
{
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc) (Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 8

Hiltopsecurties FOP SOIT Be Gund ing
C DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut
$14,585,000 General Obligation Refunding Bonds, Issue of 2017
Bond Component
Annual
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
é . 02/01/2025 216,700 216,700
oy 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
02/01/2030 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) (Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 6

itopsecries FOP ___ BOY Refunding
C 2 DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut
$9,440,000 General Obligation Refunding Bonds, Issue of 2014
Bond Component
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
02/15/2025 42,125.00 42,125.00
_ 06/30/2025 940,125.00
C : 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
5,850,000 963,837.50 6,313,387.50 6,813,887.50
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc) (Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page5

HilltopSecurities 5
AHliltop Holdings Company.
C 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
~s 06/30/2025 1,190,268.76
C 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 1,041,334.38
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
‘e
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc)
(Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 3

HilltopSecurities Si
AHilltop Holdings Company.
C : 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
e
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc) (Finance 7.015 s:\,..\Outstaning Debt Waterford 6-30-10:POST2019) Page 4

HilltopSecurities ST
AHilltop Holdings Company.
C J 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
Rh 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