Hellgate ElementaryK-8 into a K-12 School District: A

Possibility?

MCPS - Potential Bond Issue Facility Costs…

November 19, 2014

** Group recommends $158M in expansion, renovation projects at Missoula schools…

Missoulian, May 27, 2014

** MCPS facilities improvements, backlogged maintenance could take 10 years, trustees learn…

Missoulian, June 18, 2014

** The MCPS high school district needs a minimum of $28 million to cover its maintenance, safety and technology needs. Actual building work would cost $66 million, although a long-range planning committee recommended a budget of about $50 million. That would add $60 a year to the $200,000 home’s property taxes.

** In the elementary school district, addressing the top-priority maintenance, safety and technology problems would cost $13.25 million. Adding the building remodels and

replacements would cost closer to $56 million. Hitting the top- and medium priority needs for all elementary buildings would cost $96 million, which is $11 million more than the

MCPS elementary district bonding capacity.

Missoulian, June 18, 2014

• Hellgate Elementary High School Costs = $25,000,000.001. Mill Value = $30,982.00

• Missoula County Public Schools (MCPS) High School Costs = $78,000,000.001. Mill Value = $183,502.00

K-12 School Expansion Discussion…Topics & Areas to Cover

“The MCPS high school district needs a minimum of $28 million to cover its maintenance, safety and technology needs. Actual building work would cost $66 million, although a long-range planning committee recommended a budget of about $50 million. That would add $60 a year to the $200,000 home's property taxes.”

Missoulian June 18, 2014

Hellgate Elementary

Missoula County Public Schools (MCPS)

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $78,000,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $5,242,825.19 unless you enter a value for "Entered payment".

Use payment of: $5,242,825.19 Beginning balance at payment 1: 78,000,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 78,000,000.00 2,340,000.00 2,902,825.19 75,097,174.81 2,340,000.002 7/1/2016 75,097,174.81 2,252,915.24 2,989,909.95 72,107,264.86 4,592,915.243 7/1/2017 72,107,264.86 2,163,217.95 3,079,607.25 69,027,657.61 6,756,133.194 7/1/2018 69,027,657.61 2,070,829.73 3,171,995.46 65,855,662.15 8,826,962.925 7/1/2019 65,855,662.15 1,975,669.86 3,267,155.33 62,588,506.82 10,802,632.786 7/1/2020 62,588,506.82 1,877,655.20 3,365,169.99 59,223,336.83 12,680,287.997 7/1/2021 59,223,336.83 1,776,700.10 3,466,125.09 55,757,211.74 14,456,988.098 7/1/2022 55,757,211.74 1,672,716.35 3,570,108.84 52,187,102.90 16,129,704.449 7/1/2023 52,187,102.90 1,565,613.09 3,677,212.11 48,509,890.80 17,695,317.5310 7/1/2024 48,509,890.80 1,455,296.72 3,787,528.47 44,722,362.33 19,150,614.2611 7/1/2025 44,722,362.33 1,341,670.87 3,901,154.32 40,821,208.01 20,492,285.1312 7/1/2026 40,821,208.01 1,224,636.24 4,018,188.95 36,803,019.06 21,716,921.3713 7/1/2027 36,803,019.06 1,104,090.57 4,138,734.62 32,664,284.43 22,821,011.9414 7/1/2028 32,664,284.43 979,928.53 4,262,896.66 28,401,387.77 23,800,940.4715 7/1/2029 28,401,387.77 852,041.63 4,390,783.56 24,010,604.22 24,652,982.1016 7/1/2030 24,010,604.22 720,318.13 4,522,507.07 19,488,097.15 25,373,300.2317 7/1/2031 19,488,097.15 584,642.91 4,658,182.28 14,829,914.87 25,957,943.1418 7/1/2032 14,829,914.87 444,897.45 4,797,927.75 10,031,987.12 26,402,840.5919 7/1/2033 10,031,987.12 300,959.61 4,941,865.58 5,090,121.55 26,703,800.2020 7/1/2034 5,090,121.55 152,703.65 5,090,121.55 0.00 26,856,503.85

Mill Value: $183,502.00

Number of Mills/Year 28.57

$13.82

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$165.84 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $25,000,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $1,680,392.69 unless you enter a value for "Entered payment".

Use payment of: $1,680,392.69 Beginning balance at payment 1: 25,000,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 25,000,000.00 750,000.00 930,392.69 24,069,607.31 750,000.002 7/1/2016 24,069,607.31 722,088.22 958,304.47 23,111,302.84 1,472,088.223 7/1/2017 23,111,302.84 693,339.09 987,053.60 22,124,249.23 2,165,427.304 7/1/2018 22,124,249.23 663,727.48 1,016,665.21 21,107,584.02 2,829,154.785 7/1/2019 21,107,584.02 633,227.52 1,047,165.17 20,060,418.85 3,462,382.306 7/1/2020 20,060,418.85 601,812.57 1,078,580.12 18,981,838.73 4,064,194.877 7/1/2021 18,981,838.73 569,455.16 1,110,937.53 17,870,901.20 4,633,650.038 7/1/2022 17,870,901.20 536,127.04 1,144,265.65 16,726,635.55 5,169,777.079 7/1/2023 16,726,635.55 501,799.07 1,178,593.62 15,548,041.92 5,671,576.1310 7/1/2024 15,548,041.92 466,441.26 1,213,951.43 14,334,090.49 6,138,017.3911 7/1/2025 14,334,090.49 430,022.71 1,250,369.98 13,083,720.52 6,568,040.1012 7/1/2026 13,083,720.52 392,511.62 1,287,881.07 11,795,839.44 6,960,551.7213 7/1/2027 11,795,839.44 353,875.18 1,326,517.51 10,469,321.93 7,314,426.9014 7/1/2028 10,469,321.93 314,079.66 1,366,313.03 9,103,008.90 7,628,506.5615 7/1/2029 9,103,008.90 273,090.27 1,407,302.42 7,695,706.48 7,901,596.8316 7/1/2030 7,695,706.48 230,871.19 1,449,521.50 6,246,184.98 8,132,468.0217 7/1/2031 6,246,184.98 187,385.55 1,493,007.14 4,753,177.84 8,319,853.5718 7/1/2032 4,753,177.84 142,595.34 1,537,797.35 3,215,380.49 8,462,448.9119 7/1/2033 3,215,380.49 96,461.41 1,583,931.28 1,631,449.21 8,558,910.3220 7/1/2034 1,631,449.21 48,943.48 1,631,449.21 0.00 8,607,853.80

Mill Value: $30,982.00

Number of Mills/Year 54.24

$26.24

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$314.82 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00

• Hellgate Elementary High School Costs - $25,000,000.001. Mill Value = $30,982.00

• Missoula County Public Schools (MCPS) High School Costs - $78,000,000.001. Mill Value = $152,521.00

K-12 School Expansion Discussion…Topics & Areas to Cover

“The MCPS high school district needs a minimum of $28 million to cover its maintenance, safety and technology needs. Actual building work would cost $66 million, although a long-range planning committee recommended a budget of about $50 million. That would add $60 a year to the $200,000 home's property taxes.”

Missoulian June 18, 2014

Hellgate Elementary

Missoula County Public Schools (MCPS)

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $78,000,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $5,242,825.19 unless you enter a value for "Entered payment".

Use payment of: $5,242,825.19 Beginning balance at payment 1: 78,000,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 78,000,000.00 2,340,000.00 2,902,825.19 75,097,174.81 2,340,000.002 7/1/2016 75,097,174.81 2,252,915.24 2,989,909.95 72,107,264.86 4,592,915.243 7/1/2017 72,107,264.86 2,163,217.95 3,079,607.25 69,027,657.61 6,756,133.194 7/1/2018 69,027,657.61 2,070,829.73 3,171,995.46 65,855,662.15 8,826,962.925 7/1/2019 65,855,662.15 1,975,669.86 3,267,155.33 62,588,506.82 10,802,632.786 7/1/2020 62,588,506.82 1,877,655.20 3,365,169.99 59,223,336.83 12,680,287.997 7/1/2021 59,223,336.83 1,776,700.10 3,466,125.09 55,757,211.74 14,456,988.098 7/1/2022 55,757,211.74 1,672,716.35 3,570,108.84 52,187,102.90 16,129,704.449 7/1/2023 52,187,102.90 1,565,613.09 3,677,212.11 48,509,890.80 17,695,317.5310 7/1/2024 48,509,890.80 1,455,296.72 3,787,528.47 44,722,362.33 19,150,614.2611 7/1/2025 44,722,362.33 1,341,670.87 3,901,154.32 40,821,208.01 20,492,285.1312 7/1/2026 40,821,208.01 1,224,636.24 4,018,188.95 36,803,019.06 21,716,921.3713 7/1/2027 36,803,019.06 1,104,090.57 4,138,734.62 32,664,284.43 22,821,011.9414 7/1/2028 32,664,284.43 979,928.53 4,262,896.66 28,401,387.77 23,800,940.4715 7/1/2029 28,401,387.77 852,041.63 4,390,783.56 24,010,604.22 24,652,982.1016 7/1/2030 24,010,604.22 720,318.13 4,522,507.07 19,488,097.15 25,373,300.2317 7/1/2031 19,488,097.15 584,642.91 4,658,182.28 14,829,914.87 25,957,943.1418 7/1/2032 14,829,914.87 444,897.45 4,797,927.75 10,031,987.12 26,402,840.5919 7/1/2033 10,031,987.12 300,959.61 4,941,865.58 5,090,121.55 26,703,800.2020 7/1/2034 5,090,121.55 152,703.65 5,090,121.55 0.00 26,856,503.85

Mill Value: $152,521.00

Number of Mills/Year 34.37

$16.63

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$199.53 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $25,000,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $1,680,392.69 unless you enter a value for "Entered payment".

Use payment of: $1,680,392.69 Beginning balance at payment 1: 25,000,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 25,000,000.00 750,000.00 930,392.69 24,069,607.31 750,000.002 7/1/2016 24,069,607.31 722,088.22 958,304.47 23,111,302.84 1,472,088.223 7/1/2017 23,111,302.84 693,339.09 987,053.60 22,124,249.23 2,165,427.304 7/1/2018 22,124,249.23 663,727.48 1,016,665.21 21,107,584.02 2,829,154.785 7/1/2019 21,107,584.02 633,227.52 1,047,165.17 20,060,418.85 3,462,382.306 7/1/2020 20,060,418.85 601,812.57 1,078,580.12 18,981,838.73 4,064,194.877 7/1/2021 18,981,838.73 569,455.16 1,110,937.53 17,870,901.20 4,633,650.038 7/1/2022 17,870,901.20 536,127.04 1,144,265.65 16,726,635.55 5,169,777.079 7/1/2023 16,726,635.55 501,799.07 1,178,593.62 15,548,041.92 5,671,576.1310 7/1/2024 15,548,041.92 466,441.26 1,213,951.43 14,334,090.49 6,138,017.3911 7/1/2025 14,334,090.49 430,022.71 1,250,369.98 13,083,720.52 6,568,040.1012 7/1/2026 13,083,720.52 392,511.62 1,287,881.07 11,795,839.44 6,960,551.7213 7/1/2027 11,795,839.44 353,875.18 1,326,517.51 10,469,321.93 7,314,426.9014 7/1/2028 10,469,321.93 314,079.66 1,366,313.03 9,103,008.90 7,628,506.5615 7/1/2029 9,103,008.90 273,090.27 1,407,302.42 7,695,706.48 7,901,596.8316 7/1/2030 7,695,706.48 230,871.19 1,449,521.50 6,246,184.98 8,132,468.0217 7/1/2031 6,246,184.98 187,385.55 1,493,007.14 4,753,177.84 8,319,853.5718 7/1/2032 4,753,177.84 142,595.34 1,537,797.35 3,215,380.49 8,462,448.9119 7/1/2033 3,215,380.49 96,461.41 1,583,931.28 1,631,449.21 8,558,910.3220 7/1/2034 1,631,449.21 48,943.48 1,631,449.21 0.00 8,607,853.80

Mill Value: $30,982.00

Number of Mills/Year 54.24

$26.24

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$314.82 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00

• Hellgate Elementary High School Costs - $16,250,000.00 (state debt service GTB assistance of 35%) [20-9-366 MCA]1. Mill Value = $30,982.00

• Missoula County Public Schools (MCPS) High School Costs - $78,000,000.001. Mill Value = $155,000.00

K-12 School Expansion Discussion…Topics & Areas to Cover

“The MCPS high school district needs a minimum of $28 million to cover its maintenance, safety and technology needs. Actual building work would cost $66 million, although a long-range planning committee recommended a budget of about $50 million. That would add $60 a year to the $200,000 home's property taxes.”

Missoulian June 18, 2014

Hellgate Elementary

Missoula County Public Schools (MCPS)

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $78,000,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $5,242,825.19 unless you enter a value for "Entered payment".

Use payment of: $5,242,825.19 Beginning balance at payment 1: 78,000,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 78,000,000.00 2,340,000.00 2,902,825.19 75,097,174.81 2,340,000.002 7/1/2016 75,097,174.81 2,252,915.24 2,989,909.95 72,107,264.86 4,592,915.243 7/1/2017 72,107,264.86 2,163,217.95 3,079,607.25 69,027,657.61 6,756,133.194 7/1/2018 69,027,657.61 2,070,829.73 3,171,995.46 65,855,662.15 8,826,962.925 7/1/2019 65,855,662.15 1,975,669.86 3,267,155.33 62,588,506.82 10,802,632.786 7/1/2020 62,588,506.82 1,877,655.20 3,365,169.99 59,223,336.83 12,680,287.997 7/1/2021 59,223,336.83 1,776,700.10 3,466,125.09 55,757,211.74 14,456,988.098 7/1/2022 55,757,211.74 1,672,716.35 3,570,108.84 52,187,102.90 16,129,704.449 7/1/2023 52,187,102.90 1,565,613.09 3,677,212.11 48,509,890.80 17,695,317.5310 7/1/2024 48,509,890.80 1,455,296.72 3,787,528.47 44,722,362.33 19,150,614.2611 7/1/2025 44,722,362.33 1,341,670.87 3,901,154.32 40,821,208.01 20,492,285.1312 7/1/2026 40,821,208.01 1,224,636.24 4,018,188.95 36,803,019.06 21,716,921.3713 7/1/2027 36,803,019.06 1,104,090.57 4,138,734.62 32,664,284.43 22,821,011.9414 7/1/2028 32,664,284.43 979,928.53 4,262,896.66 28,401,387.77 23,800,940.4715 7/1/2029 28,401,387.77 852,041.63 4,390,783.56 24,010,604.22 24,652,982.1016 7/1/2030 24,010,604.22 720,318.13 4,522,507.07 19,488,097.15 25,373,300.2317 7/1/2031 19,488,097.15 584,642.91 4,658,182.28 14,829,914.87 25,957,943.1418 7/1/2032 14,829,914.87 444,897.45 4,797,927.75 10,031,987.12 26,402,840.5919 7/1/2033 10,031,987.12 300,959.61 4,941,865.58 5,090,121.55 26,703,800.2020 7/1/2034 5,090,121.55 152,703.65 5,090,121.55 0.00 26,856,503.85

Mill Value: $152,521.00

Number of Mills/Year 34.37

$16.63

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$199.53 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $16,250,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $1,092,255.25 unless you enter a value for "Entered payment".

Use payment of: $1,092,255.25 Beginning balance at payment 1: 16,250,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 16,250,000.00 487,500.00 604,755.25 15,645,244.75 487,500.002 7/1/2016 15,645,244.75 469,357.34 622,897.91 15,022,346.85 956,857.343 7/1/2017 15,022,346.85 450,670.41 641,584.84 14,380,762.00 1,407,527.754 7/1/2018 14,380,762.00 431,422.86 660,832.39 13,719,929.61 1,838,950.615 7/1/2019 13,719,929.61 411,597.89 680,657.36 13,039,272.25 2,250,548.506 7/1/2020 13,039,272.25 391,178.17 701,077.08 12,338,195.17 2,641,726.667 7/1/2021 12,338,195.17 370,145.86 722,109.39 11,616,085.78 3,011,872.528 7/1/2022 11,616,085.78 348,482.57 743,772.68 10,872,313.11 3,360,355.099 7/1/2023 10,872,313.11 326,169.39 766,085.86 10,106,227.25 3,686,524.4910 7/1/2024 10,106,227.25 303,186.82 789,068.43 9,317,158.82 3,989,711.3011 7/1/2025 9,317,158.82 279,514.76 812,740.48 8,504,418.33 4,269,226.0712 7/1/2026 8,504,418.33 255,132.55 837,122.70 7,667,295.64 4,524,358.6213 7/1/2027 7,667,295.64 230,018.87 862,236.38 6,805,059.26 4,754,377.4914 7/1/2028 6,805,059.26 204,151.78 888,103.47 5,916,955.79 4,958,529.2615 7/1/2029 5,916,955.79 177,508.67 914,746.57 5,002,209.21 5,136,037.9416 7/1/2030 5,002,209.21 150,066.28 942,188.97 4,060,020.24 5,286,104.2117 7/1/2031 4,060,020.24 121,800.61 970,454.64 3,089,565.60 5,407,904.8218 7/1/2032 3,089,565.60 92,686.97 999,568.28 2,089,997.32 5,500,591.7919 7/1/2033 2,089,997.32 62,699.92 1,029,555.33 1,060,441.99 5,563,291.7120 7/1/2034 1,060,441.99 31,813.26 1,060,441.99 0.00 5,595,104.97

Mill Value: $30,982.00

Number of Mills/Year 35.25

$17.05

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$204.63 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00

• Hellgate Elementary High School Costs = $30,000,000.001. Mill Value = $30,982.00

• Missoula County Public Schools (MCPS) High School Costs = $78,000,000.001. Mill Value = $183,502.00

K-12 School Expansion Discussion…Topics & Areas to Cover

“The MCPS high school district needs a minimum of $28 million to cover its maintenance, safety and technology needs. Actual building work would cost $66 million, although a long-range planning committee recommended a budget of about $50 million. That would add $60 a year to the $200,000 home's property taxes.”

Missoulian June 18, 2014

Hellgate Elementary

Missoula County Public Schools (MCPS)

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $78,000,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $5,242,825.19 unless you enter a value for "Entered payment".

Use payment of: $5,242,825.19 Beginning balance at payment 1: 78,000,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 78,000,000.00 2,340,000.00 2,902,825.19 75,097,174.81 2,340,000.002 7/1/2016 75,097,174.81 2,252,915.24 2,989,909.95 72,107,264.86 4,592,915.243 7/1/2017 72,107,264.86 2,163,217.95 3,079,607.25 69,027,657.61 6,756,133.194 7/1/2018 69,027,657.61 2,070,829.73 3,171,995.46 65,855,662.15 8,826,962.925 7/1/2019 65,855,662.15 1,975,669.86 3,267,155.33 62,588,506.82 10,802,632.786 7/1/2020 62,588,506.82 1,877,655.20 3,365,169.99 59,223,336.83 12,680,287.997 7/1/2021 59,223,336.83 1,776,700.10 3,466,125.09 55,757,211.74 14,456,988.098 7/1/2022 55,757,211.74 1,672,716.35 3,570,108.84 52,187,102.90 16,129,704.449 7/1/2023 52,187,102.90 1,565,613.09 3,677,212.11 48,509,890.80 17,695,317.5310 7/1/2024 48,509,890.80 1,455,296.72 3,787,528.47 44,722,362.33 19,150,614.2611 7/1/2025 44,722,362.33 1,341,670.87 3,901,154.32 40,821,208.01 20,492,285.1312 7/1/2026 40,821,208.01 1,224,636.24 4,018,188.95 36,803,019.06 21,716,921.3713 7/1/2027 36,803,019.06 1,104,090.57 4,138,734.62 32,664,284.43 22,821,011.9414 7/1/2028 32,664,284.43 979,928.53 4,262,896.66 28,401,387.77 23,800,940.4715 7/1/2029 28,401,387.77 852,041.63 4,390,783.56 24,010,604.22 24,652,982.1016 7/1/2030 24,010,604.22 720,318.13 4,522,507.07 19,488,097.15 25,373,300.2317 7/1/2031 19,488,097.15 584,642.91 4,658,182.28 14,829,914.87 25,957,943.1418 7/1/2032 14,829,914.87 444,897.45 4,797,927.75 10,031,987.12 26,402,840.5919 7/1/2033 10,031,987.12 300,959.61 4,941,865.58 5,090,121.55 26,703,800.2020 7/1/2034 5,090,121.55 152,703.65 5,090,121.55 0.00 26,856,503.85

Mill Value: $183,502.00

Number of Mills/Year 28.57

$13.82

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$165.84 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $30,000,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $2,016,471.23 unless you enter a value for "Entered payment".

Use payment of: $2,016,471.23 Beginning balance at payment 1: 30,000,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 30,000,000.00 900,000.00 1,116,471.23 28,883,528.77 900,000.002 7/1/2016 28,883,528.77 866,505.86 1,149,965.36 27,733,563.41 1,766,505.863 7/1/2017 27,733,563.41 832,006.90 1,184,464.33 26,549,099.08 2,598,512.774 7/1/2018 26,549,099.08 796,472.97 1,219,998.26 25,329,100.83 3,394,985.745 7/1/2019 25,329,100.83 759,873.02 1,256,598.20 24,072,502.62 4,154,858.766 7/1/2020 24,072,502.62 722,175.08 1,294,296.15 22,778,206.47 4,877,033.847 7/1/2021 22,778,206.47 683,346.19 1,333,125.03 21,445,081.44 5,560,380.048 7/1/2022 21,445,081.44 643,352.44 1,373,118.78 20,071,962.66 6,203,732.489 7/1/2023 20,071,962.66 602,158.88 1,414,312.35 18,657,650.31 6,805,891.3610 7/1/2024 18,657,650.31 559,729.51 1,456,741.72 17,200,908.59 7,365,620.8711 7/1/2025 17,200,908.59 516,027.26 1,500,443.97 15,700,464.62 7,881,648.1312 7/1/2026 15,700,464.62 471,013.94 1,545,457.29 14,155,007.33 8,352,662.0613 7/1/2027 14,155,007.33 424,650.22 1,591,821.01 12,563,186.32 8,777,312.2814 7/1/2028 12,563,186.32 376,895.59 1,639,575.64 10,923,610.68 9,154,207.8715 7/1/2029 10,923,610.68 327,708.32 1,688,762.91 9,234,847.78 9,481,916.1916 7/1/2030 9,234,847.78 277,045.43 1,739,425.79 7,495,421.98 9,758,961.6317 7/1/2031 7,495,421.98 224,862.66 1,791,608.57 5,703,813.41 9,983,824.2918 7/1/2032 5,703,813.41 171,114.40 1,845,356.83 3,858,456.59 10,154,938.6919 7/1/2033 3,858,456.59 115,753.70 1,900,717.53 1,957,739.06 10,270,692.3920 7/1/2034 1,957,739.06 58,732.17 1,957,739.06 0.00 10,329,424.56

Mill Value: $30,982.00

Number of Mills/Year 65.09

$31.48

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$377.79 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00

• Hellgate Elementary High School Costs - $30,000,000.001. Mill Value = $30,982.00

• Missoula County Public Schools (MCPS) High School Costs - $78,000,000.001. Mill Value = $152,521.00

K-12 School Expansion Discussion…Topics & Areas to Cover

“The MCPS high school district needs a minimum of $28 million to cover its maintenance, safety and technology needs. Actual building work would cost $66 million, although a long-range planning committee recommended a budget of about $50 million. That would add $60 a year to the $200,000 home's property taxes.”

Missoulian June 18, 2014

Hellgate Elementary

Missoula County Public Schools (MCPS)

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $78,000,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $5,242,825.19 unless you enter a value for "Entered payment".

Use payment of: $5,242,825.19 Beginning balance at payment 1: 78,000,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 78,000,000.00 2,340,000.00 2,902,825.19 75,097,174.81 2,340,000.002 7/1/2016 75,097,174.81 2,252,915.24 2,989,909.95 72,107,264.86 4,592,915.243 7/1/2017 72,107,264.86 2,163,217.95 3,079,607.25 69,027,657.61 6,756,133.194 7/1/2018 69,027,657.61 2,070,829.73 3,171,995.46 65,855,662.15 8,826,962.925 7/1/2019 65,855,662.15 1,975,669.86 3,267,155.33 62,588,506.82 10,802,632.786 7/1/2020 62,588,506.82 1,877,655.20 3,365,169.99 59,223,336.83 12,680,287.997 7/1/2021 59,223,336.83 1,776,700.10 3,466,125.09 55,757,211.74 14,456,988.098 7/1/2022 55,757,211.74 1,672,716.35 3,570,108.84 52,187,102.90 16,129,704.449 7/1/2023 52,187,102.90 1,565,613.09 3,677,212.11 48,509,890.80 17,695,317.5310 7/1/2024 48,509,890.80 1,455,296.72 3,787,528.47 44,722,362.33 19,150,614.2611 7/1/2025 44,722,362.33 1,341,670.87 3,901,154.32 40,821,208.01 20,492,285.1312 7/1/2026 40,821,208.01 1,224,636.24 4,018,188.95 36,803,019.06 21,716,921.3713 7/1/2027 36,803,019.06 1,104,090.57 4,138,734.62 32,664,284.43 22,821,011.9414 7/1/2028 32,664,284.43 979,928.53 4,262,896.66 28,401,387.77 23,800,940.4715 7/1/2029 28,401,387.77 852,041.63 4,390,783.56 24,010,604.22 24,652,982.1016 7/1/2030 24,010,604.22 720,318.13 4,522,507.07 19,488,097.15 25,373,300.2317 7/1/2031 19,488,097.15 584,642.91 4,658,182.28 14,829,914.87 25,957,943.1418 7/1/2032 14,829,914.87 444,897.45 4,797,927.75 10,031,987.12 26,402,840.5919 7/1/2033 10,031,987.12 300,959.61 4,941,865.58 5,090,121.55 26,703,800.2020 7/1/2034 5,090,121.55 152,703.65 5,090,121.55 0.00 26,856,503.85

Mill Value: $152,521.00

Number of Mills/Year 34.37

$16.63

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$199.53 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $30,000,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $2,016,471.23 unless you enter a value for "Entered payment".

Use payment of: $2,016,471.23 Beginning balance at payment 1: 30,000,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 30,000,000.00 900,000.00 1,116,471.23 28,883,528.77 900,000.002 7/1/2016 28,883,528.77 866,505.86 1,149,965.36 27,733,563.41 1,766,505.863 7/1/2017 27,733,563.41 832,006.90 1,184,464.33 26,549,099.08 2,598,512.774 7/1/2018 26,549,099.08 796,472.97 1,219,998.26 25,329,100.83 3,394,985.745 7/1/2019 25,329,100.83 759,873.02 1,256,598.20 24,072,502.62 4,154,858.766 7/1/2020 24,072,502.62 722,175.08 1,294,296.15 22,778,206.47 4,877,033.847 7/1/2021 22,778,206.47 683,346.19 1,333,125.03 21,445,081.44 5,560,380.048 7/1/2022 21,445,081.44 643,352.44 1,373,118.78 20,071,962.66 6,203,732.489 7/1/2023 20,071,962.66 602,158.88 1,414,312.35 18,657,650.31 6,805,891.3610 7/1/2024 18,657,650.31 559,729.51 1,456,741.72 17,200,908.59 7,365,620.8711 7/1/2025 17,200,908.59 516,027.26 1,500,443.97 15,700,464.62 7,881,648.1312 7/1/2026 15,700,464.62 471,013.94 1,545,457.29 14,155,007.33 8,352,662.0613 7/1/2027 14,155,007.33 424,650.22 1,591,821.01 12,563,186.32 8,777,312.2814 7/1/2028 12,563,186.32 376,895.59 1,639,575.64 10,923,610.68 9,154,207.8715 7/1/2029 10,923,610.68 327,708.32 1,688,762.91 9,234,847.78 9,481,916.1916 7/1/2030 9,234,847.78 277,045.43 1,739,425.79 7,495,421.98 9,758,961.6317 7/1/2031 7,495,421.98 224,862.66 1,791,608.57 5,703,813.41 9,983,824.2918 7/1/2032 5,703,813.41 171,114.40 1,845,356.83 3,858,456.59 10,154,938.6919 7/1/2033 3,858,456.59 115,753.70 1,900,717.53 1,957,739.06 10,270,692.3920 7/1/2034 1,957,739.06 58,732.17 1,957,739.06 0.00 10,329,424.56

Mill Value: $30,982.00

Number of Mills/Year 65.09

$31.48

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$377.79 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00

• Hellgate Elementary High School Costs - $19,500,000.00 (state debt service GTB assistance of 35%) [20-9-366 MCA]1. Mill Value = $30,982.00

• Missoula County Public Schools (MCPS) High School Costs - $78,000,000.001. Mill Value = $155,000.00

K-12 School Expansion Discussion…Topics & Areas to Cover

“The MCPS high school district needs a minimum of $28 million to cover its maintenance, safety and technology needs. Actual building work would cost $66 million, although a long-range planning committee recommended a budget of about $50 million. That would add $60 a year to the $200,000 home's property taxes.”

Missoulian June 18, 2014

Hellgate Elementary

Missoula County Public Schools (MCPS)

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $78,000,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $5,242,825.19 unless you enter a value for "Entered payment".

Use payment of: $5,242,825.19 Beginning balance at payment 1: 78,000,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 78,000,000.00 2,340,000.00 2,902,825.19 75,097,174.81 2,340,000.002 7/1/2016 75,097,174.81 2,252,915.24 2,989,909.95 72,107,264.86 4,592,915.243 7/1/2017 72,107,264.86 2,163,217.95 3,079,607.25 69,027,657.61 6,756,133.194 7/1/2018 69,027,657.61 2,070,829.73 3,171,995.46 65,855,662.15 8,826,962.925 7/1/2019 65,855,662.15 1,975,669.86 3,267,155.33 62,588,506.82 10,802,632.786 7/1/2020 62,588,506.82 1,877,655.20 3,365,169.99 59,223,336.83 12,680,287.997 7/1/2021 59,223,336.83 1,776,700.10 3,466,125.09 55,757,211.74 14,456,988.098 7/1/2022 55,757,211.74 1,672,716.35 3,570,108.84 52,187,102.90 16,129,704.449 7/1/2023 52,187,102.90 1,565,613.09 3,677,212.11 48,509,890.80 17,695,317.5310 7/1/2024 48,509,890.80 1,455,296.72 3,787,528.47 44,722,362.33 19,150,614.2611 7/1/2025 44,722,362.33 1,341,670.87 3,901,154.32 40,821,208.01 20,492,285.1312 7/1/2026 40,821,208.01 1,224,636.24 4,018,188.95 36,803,019.06 21,716,921.3713 7/1/2027 36,803,019.06 1,104,090.57 4,138,734.62 32,664,284.43 22,821,011.9414 7/1/2028 32,664,284.43 979,928.53 4,262,896.66 28,401,387.77 23,800,940.4715 7/1/2029 28,401,387.77 852,041.63 4,390,783.56 24,010,604.22 24,652,982.1016 7/1/2030 24,010,604.22 720,318.13 4,522,507.07 19,488,097.15 25,373,300.2317 7/1/2031 19,488,097.15 584,642.91 4,658,182.28 14,829,914.87 25,957,943.1418 7/1/2032 14,829,914.87 444,897.45 4,797,927.75 10,031,987.12 26,402,840.5919 7/1/2033 10,031,987.12 300,959.61 4,941,865.58 5,090,121.55 26,703,800.2020 7/1/2034 5,090,121.55 152,703.65 5,090,121.55 0.00 26,856,503.85

Mill Value: $152,521.00

Number of Mills/Year 34.37

$16.63

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$199.53 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00

Amortization TableA simple amortization table covering 20 payment periods of a loan.1) To use the table, simply change any of the values in the "inital data" area of the worksheet.2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.

Initial DataLOAN DATA TABLE DATA

Loan amount: $19,500,000.00 Table starts at date:Annual interest rate: 3.000% or at payment number: 1

Term in years: 20Payments per year: 1First payment due: 7/1/2015

PERIODIC PAYMENTEntered payment: The table uses the calculated periodic payment amount

Calculated payment: $1,310,706.30 unless you enter a value for "Entered payment".

Use payment of: $1,310,706.30 Beginning balance at payment 1: 19,500,000.001st payment in table: 1 Cumulative interest prior to payment 1: 0.00

Table

Payment Beginning Ending CumulativeNo. Date Balance Interest Principal Balance Interest1 7/1/2015 19,500,000.00 585,000.00 725,706.30 18,774,293.70 585,000.002 7/1/2016 18,774,293.70 563,228.81 747,477.49 18,026,816.21 1,148,228.813 7/1/2017 18,026,816.21 540,804.49 769,901.81 17,256,914.40 1,689,033.304 7/1/2018 17,256,914.40 517,707.43 792,998.87 16,463,915.54 2,206,740.735 7/1/2019 16,463,915.54 493,917.47 816,788.83 15,647,126.71 2,700,658.206 7/1/2020 15,647,126.71 469,413.80 841,292.50 14,805,834.21 3,170,072.007 7/1/2021 14,805,834.21 444,175.03 866,531.27 13,939,302.94 3,614,247.028 7/1/2022 13,939,302.94 418,179.09 892,527.21 13,046,775.73 4,032,426.119 7/1/2023 13,046,775.73 391,403.27 919,303.03 12,127,472.70 4,423,829.3810 7/1/2024 12,127,472.70 363,824.18 946,882.12 11,180,590.58 4,787,653.5611 7/1/2025 11,180,590.58 335,417.72 975,288.58 10,205,302.00 5,123,071.2812 7/1/2026 10,205,302.00 306,159.06 1,004,547.24 9,200,754.76 5,429,230.3413 7/1/2027 9,200,754.76 276,022.64 1,034,683.66 8,166,071.11 5,705,252.9814 7/1/2028 8,166,071.11 244,982.13 1,065,724.16 7,100,346.94 5,950,235.1215 7/1/2029 7,100,346.94 213,010.41 1,097,695.89 6,002,651.05 6,163,245.5316 7/1/2030 6,002,651.05 180,079.53 1,130,626.77 4,872,024.29 6,343,325.0617 7/1/2031 4,872,024.29 146,160.73 1,164,545.57 3,707,478.72 6,489,485.7918 7/1/2032 3,707,478.72 111,224.36 1,199,481.94 2,507,996.78 6,600,710.1519 7/1/2033 2,507,996.78 75,239.90 1,235,466.39 1,272,530.39 6,675,950.0520 7/1/2034 1,272,530.39 38,175.91 1,272,530.39 0.00 6,714,125.96

Mill Value: $30,982.00

Number of Mills/Year 42.31

$20.46

Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134

Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)

$245.56 Annual Impact on a $500,000.00

Monthly Impact on a $500,000.00