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<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>As we continue to work on the structure of the potential
bond issue, more data is being requested from various sources. <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Attached is a workbook containing two spreadsheets that we
need you to complete for each of your projects. These worksheets are the
same format that has been used in previous bonds issues and will be used to
work with the State Bond Advisor’s office in structuring the debt service
in response to legislative requests.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>The first sheet (Sch. A) is general project information and
the second (Sch. B) is a cash-draw projection sheet. Please complete these
two sheets for each of your projects and <b><u><span style='font-weight:bold'>return
by Friday, January 28<sup>th</sup></span></u></b>. The quicker the
response the better, so please return by email as soon as you complete the
forms. The BOMA rates for estimated on-going costs are also provided in
the second attachment. This sheet can be used in estimating the on-going
costs listed on Schedule A.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>If your project contains several components, please break
those components into separate “mini-projects” and give the
cash-draw estimates on the separate mini-projects. We are trying to
accurately project the best estimated need for cash resources so that the bond
issuance can be structured in the most advantageous method and cost-efficient
manner.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Please let me know if you have questions.<o:p></o:p></span></font></p>
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