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COSCC – Funding of Debt

Service

9

Per

Semester

Annual

Amount

Debt Service

Requirement

347,500

$

Student Fee

22.00

$

262,800

$

Institutional Funds

84,700

$

Funds Available

347,500

$

Proposal:

Size student fee to meet expected debt service need @ 4% interest

Pledge additional institutional revenues to meet TSSBA pro forma

requirement of 7% (@ 20 year financing)

Institution acknowledges that it will be responsible for debt service

cost if eventual debt carries rate above 4%