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Bond Anticipation Note (BAN) Sale – October 2026 2026- 2027 2027 Budget has a 25% Increase in Water Dist. 1 Capital due to the 2027 interest and in prep of the 2028 principal increase • BAN for Water Tank Repairs AND Phase 1 of Waterline Replacements AND Phase 2 Engineering and Technical Studies (NEW) sold effective 10/1/26 at a 3.85% interest rate which is MORE than the prior 2 years rate of 3.69% and 3.49% • Interest due 10/1/27 is $179,988 split across all water funds with the majority hitting District 1. (This is $50,125 MORE than what was owed in 2026) • Principal payment on the water tank portion due in 2027 will be $35,000 split across all water funds as well as the 2nd principal payment on Phase 1 in the amount of $95,000 paid solely by District 1 & 1 Ext. The 1st Phase 2 principal payment will come due in 2028. That year will see an increase in principal payments of $45,000 without factoring in interest at all. 172