Representative Town Meeting Budget Hearing and Special Meeting Day 2 (linked)

%8L'9- (tZt‘ZZ) GLE‘VOE GLE‘VOE GLE‘VOE GLE'VOE |960‘97E 960‘9ZE GZL‘@ve IS4Y3LNI - ONIGNN43Y GNO 020z Gv09S
%vr'T 000‘St 000‘08T‘E 000‘08T‘E OO00‘O8T‘E | 000‘O8T‘E |000‘SET‘E O00‘SET’E |000‘S6T‘E TWdIONIYd - SQNIGNN4IY GNOE 0Z0Z vv09S
%v9'6- (0Sz‘v€) GL6‘0ZE GL6‘0ZE GL6‘0ZE GL6‘0ZE | S77‘SSE GZ7‘GSE SLr‘68E ISIYILNI - XI1dINOD TWdIDINAW 020z €v09S
%00°0 0 000‘S89 000‘S89 000‘S89 000‘S89 |000‘s89 000‘S89 000‘S89 TWdlONIYd - XATdINOD TWdIDINNW 0Z0Z Zv09S
%ET'OT- (SZt‘€v) 0SZ‘vzZ 0S7¢‘77ZZ 0SZ2‘72z OSZ‘7zz | SzE‘Z97 GLE‘L97Z G7z9‘SOE 1SIY3LNI ONIGNN43Y GNO@ 6T0Z Ovo9s
%SL'T 000‘ST 000‘028 000‘0Z8 000‘028 000028 |000‘ss 000‘SS8 000‘S29 TWdIONIYd SNIGNN4IY GNOE 6T0Z 6€09S
%OL'TT- (S28‘€s) 0S9‘90r 0S9‘907 0S9‘907 059‘90r | |szsS‘09r G7S‘097 00r‘rTS LSAY3LNI - SNIGNN43Y GNO ZT0OZ 8€09S
%8ET- (000‘ST) 000‘0Z0‘T 000‘0Z0‘T 000‘0Z0‘T | 000‘0Z0‘T }000‘s80‘T 000‘S80‘T |000‘0L0‘T TWdIONIUd - SQNIGNN43Y GNO@ ZTOZ ZE09S
%E8'6E- (S28‘Tr) 0Sz‘e9 0Sz‘€9 0S7’€9 0Sz‘€9 = {SZT‘SOT GZT‘SOT GZ9‘9VT ISIYSLNI- ONIGNN4IY GNOE vT0Z 9E09S
%09°0 000‘S 000‘0r8 000‘0v8 000‘0r8 000‘0v8 |000‘SEs 000‘SE8 000‘S78 TWdlONIdd - SNIGNN4IY GNOE vT0Z SE09S
1350Nd GISOdOUd 9207-5207
GNNd 1WYANID
qGuOsysLVM JO NMOL

TOWN OF WATERFORD
FY2026 BUDGET REQUEST
DEPARTMENT: DEBT SERVICES (10139)
\NOUSTRY 3
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.

TOWN OF WATERFORD
FY2026 BUDGET REQUEST
DEPARTMENT: DEBT SERVICES (10139)
BUDGET SUMMARY
The FY26 budget request is $145,246 (1.79%) lower than fiscal year 2025 due to reduced
payments on outstanding bonds.
PAST AND & FUTURE DEBT PAYMENTS
PAST AND FUTURE DEBT PAYMENTS
$7,389,902
$7,564,397
$7,197,460
$8,148,250
$8,109,746
$7,964,500
$7,478,426
$6,374,375
$6,402,762
$5,857,770
mFY20 MFY21 MFY22 SFY23 MFY24 SFY25 BFY26 MFY27 BFY28 @ FY29 m@FY30

sjuaWiAed
dd1AJ9S
149d
9ZAA
[EOL
00S‘796‘LS
O0S‘6TETS
000‘Sv99S
GLE‘6ES'
VS
000‘SS9‘SZS
GLE‘VOES
O00‘O8T‘ES
000‘002‘8TS
%OTC'T
000‘068‘87S
€e0z~
8ny
=:
O07
+99
GL6‘0ZES
000‘S89S
000‘0EZ2‘OTS
%09T'C
000‘SS9‘ETS
Ov07IdaS
O0c0c
INf
OS7‘V77S
000‘028$
000‘S87‘SS
*%Vv6r'7
000‘S80‘6S
O€0z
sny
6L0C
99d
059'90V$
000‘0Z0‘TS
000‘SST‘6S
%CV9'V
O00‘S8S‘vTS
O€O7~8NY
gtOoz
UNS
OSZ‘E9S
000‘Ov8S
GLE‘69L'TS
%6CS'V
000‘0rr‘6S
9zoz
“sny
=
vT0Z
90
970C-AJ
9C0C-A4
S707/0€/9
uodno>
onss|
21eq
onss|
and
and
jose
"OAV
jo
Aqunyeiy
jo
1S$9J9}U|
jedioulid
SulpuejsjnoO
JUNOWY
a1eq
Saiunyel|
1S949}U|
SUIpueysINO
‘pasnduy|
Jqaq
JO
JUaWAIe1S
JUSWIUISAOD
|eJIUI5H
anss| puog suIpuNnjJey OZOZ
xajdwo jediniun OZ0Z
anss| puog SulpuNnjay GTOZ
anss| puog sulpunjey /TOZ
anss|

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 S 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

00°0SS‘662'8 $ : $ 00002646 $ O0'00r‘Z00‘'T $ O0'00Z‘600‘T $ 00°SZ9‘0H0'T S$ OO'SZE‘S90‘T $ 00'0SZ‘V60'T $
00'0SS‘v8z'T $ 00'00z‘6T $ O000r4S $ OD'O0L'VEG $ O0'SZ9‘GET $ ODSLE'DO8ST $ O00SZ’r7Zz S$ qsaJ9}U|
00°000‘STO‘Z $ 00°000‘096 $ 00'000‘0S6 $ O0'000‘ST6 $ 00'000‘S06 $ 00':000‘S88 $ O0000‘0Z8 $ jedioutid
00°SZT‘662'ET $ $ 00°009‘E69 $ O0'006‘SZZ $ O00°000‘9VT‘T $ 00'006'Z86'7 $ OD'OST‘EET‘'E S$ 00°0S9‘9ZH'T S$
OO'SZT‘686'T $ 00°009‘ET $ O0'006‘0r $ O0'000‘9L $ O0'00E‘Z9T $ OD'OST’'60E $ O00'0S9‘90r $ qsoJ2}U|
00'000‘0TE‘TT $ 00°000‘089 $ 00°000‘S89 $ O0'000‘0L0‘T $ 00'000‘078‘% $ 00°000‘0E8‘Z $ 00'000‘0Z0'T $ jedioutd
00°000‘S8S ‘rT $ Sulpunjay
0O'SZT‘T89°E $ = $s $ $ 5 = $ 00°SZT‘998 $ O0'0SZ‘EO6 $
OO'SzT‘9EE S$ OO'SzT‘TZ $ OO'OSZ’E9 S$ 1SaJ9}U|
00'000‘SvE’E S$ 00°000‘S8 $ 0000008 $ jedioutid
00°000‘0rr‘6 $ Sulpunjay
sjeiol = v€07-Ad €€07Z-Ad ZE07-Ad TEO?-Ad O€07-AJ 620¢-Ad 8z0¢-Ad L@0¢-AA 9720¢-Ad junowy anss| |eulsiO
ajnpayds uonezuowy
ddIAJaS 19aq
psiojia

00'08Z‘9EL'E
$
GLLET‘V89'S $
GL'69L‘L58'S
$
SLYVLE'VLE'D
S$
00°00S‘V96‘2
$
1WLOLGNVYD
GL'89L‘GtV'8 S$
00°000‘S06‘9S
$
$
00°08Z‘99T
$
00°000‘0zS‘E
$
$
SLLET
PE
$
00°000‘0vE'S
$
$
00°000‘SZES
$
OS'T9L‘ZED
5
00°000‘0LL‘S
$
$
00°000‘S6E’9 $
00'00S‘6TET
$
4Se402U]
00°000‘S19‘9
$
jediould
GL'89E'
T8662
S
SL'ECB‘ETG
$
OOO8E'VEG'TS
OD'SZE‘9V0'E
S
GL'ZTE‘ZOT‘'E
S
GZ'E90‘CSZ'E
S
OS
9EREVE'ES
SZL'VLE‘B8OV'T
S$
OS'OSO'9EV'T
S
OO'SLE‘HB8H‘E
S
GL89ETLZ'C
S$
SLET8‘S
S
OO08E'th
$
O0S76°96
S$
SLCIE‘LYT
$
SLE90'ZET
S$
OS9ES’EDZ
S$
SLYLE'ELZ
$
OS'0S0'98Z
$
OO'SLE'VOE
S$
00°000‘0TZ‘ZZ
$
00°000‘S06
$
00°000‘068‘2
$
00'000‘0S6‘Z
$
00'000‘STO’E
$
00°000‘SS0‘E
$
O0'000‘0DT‘E
$
O0'000‘SET‘T
$
O0'000‘0ST‘T
$
00'000‘08T‘E
$
00°000‘068‘8z $
00°009‘690‘0T
$
O0'00”‘S8Z
$
O0'00r'208
$
O0SZ8‘Z78
$
O0'SZr’8r8
$
O0'00r'748
$
O0S77'E06
S$
OD'SLY‘ZEG
$
OD'SZL'TLE
$
00°SL6‘SO0'T
$
00°009‘7rS‘Z
S$
OO0'O0V'SOT
$
O0'00r’7ZT
$
O0SL8‘%HT
$
O0SZr’E9T
S$
O00Dr'Z8T
$
O0'S7Z7’8TZ
$
ONSL”'7St
S$
OD'SZL'98Z
$
O0SLE‘0ZE
S$
00°000‘SzS‘Z
$§
00°000‘089
$
00°000‘089
$
00°'000‘S89
$
00'000‘S89
$
00'000‘S689
$
00°000‘S89
$
00°000‘S89
$
00°'000‘S89
$
00°'000‘S89
$
00°SS9‘ET
S
$]2}0,
vEOC-AA
€£0¢-Ad
ZE0C-AA
TEO7-AA
O€0Z-A4
620C-Ad
8Z07C-AA
L@0@-AA
9Z07¢-AJ
qunowy
anss|
jeulsiiO
ajnpayas
uoljeziowy
BdIAJaS 199d

AOKO las efunding
90 Avon Meadow Lane
Avon, CT 06001
(T) 860-321-7521
(F) 860-321-758]
ae
la
pLLity a
senna iB : 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 kralcouvenys 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
7 below. We express no opinion on the reasonableness of the assumptions, or the likelihood that the debt service
\q | requirements of the Refunded Bonds will be paid as described in the accompanying exhibits.

General Obligation Bonds, Issue of 2013
Interest Redemption Redemption
Maturity Amount
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 |
CC $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.

ola * Lory Kefiinc/
31,906,504.44
' 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
ll
i
ail
van]
ala
ey
\ i
{

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 175,728.15 175,728.75 172,881.51
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 110,325.75 110,525.75 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 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 Fe 9934
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

i ‘\
€ ‘
i
(Finance 8.500)
Net PV Savings
Prepared by AMTEC
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 $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
2,413,271.66
23

HilltopSecurities FO
AHilltop Holdings Company.
Municipal Complex
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
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 SAW
M uni cin! Complex
AHilltop Holdings Company.
: BOND DEBT SERVICE
iial 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 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
03/15/2029 685,000 4.000% 100,550.00 785,550.00
7 03/15/2030 86,850.00 86,850.00
} 06/30/2030 872,400.00
ee ne 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
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
a
Jul 8, 2020 12:16 pm Prepared by Hilltop Securities Inc. (mjb)
(Finance 8.500 Waterford, Connecticut:2020-2020_1) Page 5

a
HilltopSecurities oa
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 we % 2,344,370.57 7,404,370.57
06/30/2022 5,155,000 ne. 2,114,113.76 7,269,113.76
06/30/2023 5,200,000 ke % 1,925,351.26 7,125,351.26
06/30/2024 5,400,000 me OG 1,738,470.01 —° 7,138,470.01
06/30/2025 5,605,000 “* % 1,534,607.51 7,139,607.51
06/30/2026 5,700,000 oe % 1,322,488.76 7,022,488.76
06/30/2027 5,485,000 ee % 1,086,388.76 6,571,388.76
06/30/2028 4,650,000 7 % 851,513.76 5,501,513.76
06/30/2029 - 4,910,000 *e 656,588.76 5,566,588.76
' 06/30/2030 ‘4,560,000 ae % 491,626.26 5,051,626.26
06/30/2031 4,565,000 ee OG 333,751.26 4,898,751.26
06/30/2032 2,910,000 xe % 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 oA
AHilltop Holdings Company.
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

\
<
HilltopSecurities Se
AHilltop Holdings Company.
AG
Town of Waterford, Connecticut
DETAILED BOND DEBT SERVICE
ION Kelundli
$9,085,000 General Obligation Bonds, Series 2019
Final Numbers
Bond Component
J
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
a 08/01/2024 855,000 5.000% 144,375.00 999,375.00
( 02/01/2025 123,000.00 123,000.00
SS 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 5
AHilltop 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

ay,
Ps
HilltopSecurities SX
AHiltop Holdings Company.
of Ol] ke fiend (NG
DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut
$14,585,000 General Obligation Refunding Bonds, Issue of 2017
Bond Component
17,536,575
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
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 .
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
—/
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (sc)
(Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:POST2019) Page 6

HilltopSecurities 5
AHilltop Holdings Company.
KOI Refund ng
yy
|— 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
_ 02/15/2025 42,125.00 42,125.00
(f 06/30/2025 . 940,125.00
— 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) Page5

HilltopSecurities Oe
A Hiltop Holdings Company.
Period
DETAILED BOND DEBT SERVICE
Town of Waterford, Connecticut
$15,930,000 General Obligation Bonds, Issue of 2014
Bond Component
. 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 a
AHiltop Holdings Company.
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) Page4

HilltopSecurities Ty
AHilltop Holdings Company.
f eg
oe
)
Wes 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
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