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<br /> <br /> <br />3 <br />PROPERTY OF THE AUTHORITY OR ANY OF ITS INCOME OR RECEIPTS, EXCEPT THE <br />REVENUES AS DESCRIBED HEREIN. <br /> <br /> <br />FINANCING PLAN <br /> <br />The 2024 Bonds are being issued to provide funds to (i) assist the City with financing <br />certain improvements to the Water System (as described herein, the “Project”), and (ii) pay the <br />costs of issuing the 2024 Bonds. <br /> <br />The Project <br /> <br />The Project is expected to consist primarily of projects identified in the Water System’s <br />capital improvement program or approved through various Council actions, including but not <br />limited to water main lines, booster stations and related improvements, regional well design <br />work, and pipeline extensions and replacements. <br /> <br />Preliminary design work for each of the components of the Project is either underway or <br />complete. The Project is anticipated to be completed within three years. For additional <br />information, see “THE WATER SYSTEM – Capital Improvement Program.” <br /> <br />As provided in the Indenture and the Installment Sale Agreement, amounts not used for <br />the above-described projects may be expended for other improvements to the Water System <br />approved by the City Council. <br /> <br />Estimated Sources and Uses of Funds <br /> <br />The estimated sources and uses of funds relating to the 2024 Bonds are as follows: <br /> <br />Sources: <br />Principal Amount of 2024 Bonds $ <br />Plus/Less [Net] Original Issue Premium/Discount <br /> Total Sources $ <br /> <br />Uses: <br />Deposit to Project Fund <br />Costs of Issuance (1) <br /> Total Uses $ <br /> <br />(1) Costs of Issuance include legal fees, Municipal Advisor’s fee, Underwriter’s discount, printing costs, <br />rating agency fees, and other expenses related to the issuance of the 2024 Bonds. For details <br />regarding the Underwriter’s discount, see “UNDERWRITING.” <br />