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TABLE 3 <br /> PRELIMINARY PROJECTION <br /> OF AVAILABLE FUNDS FOR <br /> PROJECT DEVELOPMENT DURING <br /> SHORT TERM BOND PERIOD <br /> WHITE RIVER HYDROELECTRIC PROJECT <br /> LOCK AND DAM 1 <br /> ($ X 1000) <br /> APPLICATION OF FUNDS <br /> 1) Estimated Total Bond Issue: $29,493 <br /> 2) Less issuance cost: 914 <br /> 3 ) Less deposit to construction fund: 24, 950 <br /> 4) Less deposit to debt service reserve fund: 3, 156 <br /> Beginning Working Funds $ 473 <br /> Interest Earnings <br /> Interest Earnings on Construction Fund $ 5, 8771/ <br /> Interest Earnings on Debt Service 1/ <br /> Reserve Fund 744 <br /> Short Term Earnings on Working Capital 86 <br /> Total Interest Earnings $ 6, 707 <br /> Bond Issuance and Interest Costs <br /> Interest Cost on Bonds $ 4, 636 3/ <br /> Bond Issue Costs 914 <br /> Total Bond Issuance and Interest Costs $ 5, 550 <br /> Available Funds for City' s Project Uses: <br /> Total Interest Earnings $ 6, 707 <br /> Less Total Bond Issuance and Interest Costs 5, 550 <br /> Available for Use $ 1, 157 <br /> l/ Assumed 9 .75% interest rate 11/1/85 to 4/1/88 . <br /> Assumed "overnight" rate of 5% . <br /> Assumed 6.5% interest rate paid on short term bonds . <br />