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Funding Sources Capital Reserves

Total reserves are currently $14.5 million

Primary source of revenue is interest earnings and delinquent taxes (approximately $2.9 million)

Currently have approximately $3 million in annual debt service obligations

Given current commitments BOC could allocate approximately $1.2 million annually

This would finance $15.6 million in bonds over 20 years (assuming a 4.5% interest rate)

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