tifia, and with the refinancing of tifia, we would like to continue with that practice and formalize it into our practices of tjpa and not just the requirement of a loan. so we're attempting to fully -- or not fully fund, but fund a portion of capital replacement that we identified with tifia. there was a schedule that we provided to the tifia loan that programs are informed how much we should have over the life of the facility, and so we feel like 29 million is a good starting point. we should fund it to -- or we've committed to funding it to 193 million with the tifia loan, so 103 million is a starting point. -- 29 million is a starting point. if the rate will allow, we'd like to go up to 40 million if the fund is available. so the total source for the bond sale, we anticipate generating 318 million from the proceeds of our bond sale, and another 176 million from the city's bond sail, for a total of 394 million, as a repayment to tifia, funding the phase one program reserve, funding the program cost of issuance, and slowly funding the debt service reserve. the structure of the bonds would be we -- in our documents, we're asking permission to issue a

tifia, and with the refinancing of tifia, we would like to continue with that practice and formalize it into our practices of tjpa and not just the requirement of a loan. so we're attempting to fully -- or not fully fund, but fund a portion of capital replacement that we identified with tifia. there was a schedule that we provided to the tifia loan that programs are informed how much we should have over the life of the facility, and so we feel like 29 million is a good starting point. we should fund it to -- or we've committed to funding it to 193 million with the tifia loan, so 103 million is a starting point. -- 29 million is a starting point. if the rate will allow, we'd like to go up to 40 million if the fund is available. so the total source for the bond sale, we anticipate generating 318 million from the proceeds of our bond sale, and another 176 million from the city's bond sail, for a total of 394 million, as a repayment to tifia, funding the phase one program reserve, funding the program cost of issuance, and slowly funding the debt service reserve. the structure of the bonds would be we -- in our documents, we're asking permission to issue a

tifia, and with the refinancing of tifia, we would like to continue with that practice and formalize it into our practices of tjpa and not just the requirement of a loan. so we're attempting to fully -- or not fully fund, but fund a portion of capital replacement that we identified with tifia. there was a schedule that we provided to the tifia loan that programs are informed how much we should have over the life of the facility, and so we feel like 29 million is a good starting point. we should fund it to -- or we've committed to funding it to 193 million with the tifia loan, so 103 million is a starting point. -- 29 million is a starting point. if the rate will allow, we'd like to go up to 40 million if the fund is available. so the total source for the bond sale, we anticipate generating 318 million from the proceeds of our bond sale, and another 176 million from the city's bond sail, for a total of 394 million, as a repayment to tifia, funding the phase one program reserve, funding the program cost of issuance, and slowly funding the debt service reserve. the structure of the bonds would be we -- in our documents, we're asking permission to issue a

tifia, and with the refinancing of tifia, we would like to continue with that practice and formalize it into our practices of tjpa and not just the requirement of a loan. so we're attempting to fully -- or not fully fund, but fund a portion of capital replacement that we identified with tifia. there was a schedule that we provided to the tifia loan that programs are informed how much we should have over the life of the facility, and so we feel like 29 million is a good starting point. we should fund it to -- or we've committed to funding it to 193 million with the tifia loan, so 103 million is a starting point. -- 29 million is a starting point. if the rate will allow, we'd like to go up to 40 million if the fund is available. so the total source for the bond sale, we anticipate generating 318 million from the proceeds of our bond sale, and another 176 million from the city's bond sail, for a total of 394 million, as a repayment to tifia, funding the phase one program reserve, funding the program cost of issuance, and slowly funding the debt service reserve. the structure of the bonds would be we -- in our documents, we're asking permission to issue a

tifia, and with the refinancing of tifia, we would like to continue with that practice and formalize it into our practices of tjpa and not just the requirement of a loan. so we're attempting to fully -- or not fully fund, but fund a portion of capital replacement that we identified with tifia. there was a schedule that we provided to the tifia loan that programs are informed how much we should have over the life of the facility, and so we feel like 29 million is a good starting point. we should fund it to -- or we've committed to funding it to 193 million with the tifia loan, so 103 million is a starting point. -- 29 million is a starting point. if the rate will allow, we'd like to go up to 40 million if the fund is available. so the total source for the bond sale, we anticipate generating 318 million from the proceeds of our bond sale, and another 176 million from the city's bond sail, for a total of 394 million, as a repayment to tifia, funding the phase one program reserve, funding the program cost of issuance, and slowly funding the debt service reserve. the structure of the bonds would be we -- in our documents, we're asking permission to issue a

we have three main goals in doing this bond sale, and this is to refinance our tifia loan, to refinance any balance, and to execute our loans. we expected a loan in 2010 at an interest rate of 5.7. it currently has an outstanding balance of $179 million with a final maturity in february 2051. we anticipate in this market that we would be able to refinance the full amount, the 179 million, still secured by net tax increment. our good faith estimate as of february 20 had a -- has a saving or an interest rate of approximately 3.5%. the market is continually moving -- in the last few days, it's been rather volatile, but still moving in a direction favorable for us. we would anticipate level annual savings and a net present value savings of at least 10% or about 20 million based on that good faith estimate. this slide is actually stale now that we've gotten to this point. you have to get all your documents together, but as of march 6, the 30-year m.m.d. was 1.52. it is dependent on the day of this week. it has gone down and up, and down and up, and today, it's essentially been suspended, but