Adopted Budget
Fiscal Year 2021

Armstrong Community Development District

August 13, 2020

	Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted
Budget	
 Description		 	FY2020			 	6/30/20			     3 Months			 	9/30/20			 	FY2021		
Revenues
Special Assessments - Platted Lots	
$139,000		
$139,225		
$0		
$139,225		
$294,400	
Cost Share - Tynes Blvd	$0		$0		$0		$0		$36,000	
Developer Assessment - Unplatted Lots	$36,800		$36,800		$0		$36,800		$29,440	
Developer Contributions	$263,553		$123,343		$125,652		$248,995		$154,137	
Total Revenues	 	$439,353 		 	$299,368 		 	$125,652 		 	$425,020 		 	$513,977 	

Expenditures										
Administrative
Supervisors Fees	
$9,600		
$6,000		
$2,000		
$8,000		
$9,600	
FICA Expense	$734		$459		$153		$612		$734	
Engineering	$10,000		$4,955		$2,478		$7,433		$10,000	
Arbitrage	$600		$1,100		$0		$1,100		$600	
Assessment Roll	$5,000		$5,000		$0		$5,000		$5,000	
Dissemination Agent	$3,500		$4,667		$1,750		$6,417		$7,000	
Attorney	$30,000		$11,290		$5,645		$16,935		$20,000	
Annual Audit	$4,200		$5,700		$0		$5,700		$5,800	
Trustee	$3,717		$3,717		$0		$3,717		$3,717	
Management Fees	$45,000		$33,750		$11,250		$45,000		$45,000	
Computer Time	$1,500		$1,125		$375		$1,500		$1,500	
Telephone	$300		$97		$32		$129		$300	
Postage	$300		$249		$83		$332		$300	
Insurance	$6,050		$6,050		$0		$6,050		$6,484	
Printing & Binding	$2,000		$1,109		$370		$1,479		$2,000	
Legal Advertising	$2,000		$1,183		$1,000		$2,183		$2,500	
Other Current Charges	$500		$376		$125		$501		$500	
Website Admin	$1,000		$750		$250		$1,000		$1,000	
Property Taxes	$1,200		$0		$0		$0		$1,200	
Office Supplies	$150		$55		$18		$73		$100	
Dues, Licenses & Subscriptions	$175		$175		$0		$175		$175	
Total Administrative	 	$127,527 		 	$87,807 		 	$25,529 		 	$113,336 		 	$123,511 	

Field
Security	

$0		

$20,741		

$5,000		

$25,741		

$30,000	
Utilities	$60,000		$20,216		$10,108		$30,324		$50,000	
Repairs & Maintenance	$5,000		$14,265		$2,500		$16,765		$5,000	
Landscape	$52,365		$39,779		$14,586		$54,365		$61,977	
Landscape - Contingency	$5,000		$1,020		$5,000		$6,020		$5,000	
Lake Maintenance	$12,000		$7,265		$2,340		$9,605		$10,000	
Irrigation Repairs	$10,000		$4,329		$3,000		$7,329		$10,000	
Total Field	 	$144,365 		 	$107,615 		 	$42,534 		 	$150,149 		 	$171,977 	

1

	Adopted
Budget	Actual
thru	Projected
Next	Total
Projected at	Adopted
Budget	
 Description		 	FY2020		 	6/30/20		     3 Months		 	9/30/20		 	FY2021		

Amenity Center										
Insurance	$19,974		$20,590		$0		$20,590		$23,102	
Phone/Internet/Cable	$5,000		$1,491		$510		$2,001		$5,000	
Electric	$20,000		$8,504		$11,339		$19,843		$20,000	
Water/Irrigation	$15,000		$4,982		$4,800		$9,782		$15,000	
Gas	$200		$618		$255		$873		$1,000	
Refuse Service	$2,500		$1,585		$525		$2,110		$2,500	
Security Monitoring	$600		$0		$0		$0		$600	
Access Cards	$2,500		$439		$0		$439		$2,500	
Field Mgmt/Admin	$15,000		$0		$0		$0		$15,000	
Amenity Landscaping	$30,631		$23,269		$8,566		$31,835		$30,631	
Fitness Equipment Lease (Sofitco)	$23,196		$12,737		$4,246		$16,983		$17,500	
Janitorial	$7,000		$15,022		$10,912		$25,933		$43,646	
Janitorial Supplies	$3,450		$2,174		$4,348		$6,522		$6,500	
Pool Maintenance	$0		$6,398		$3,150		$9,548		$12,600	
Facility Maintenance	$7,500		$0		$5,000		$5,000		$7,500	
Repairs & Maintenance	$4,310		$0		$3,000		$3,000		$4,310	
Special Events	$5,000		$1,442		$1,500		$2,942		$4,000	
Holiday Decorations	$1,500		$2,245		$500		$2,745		$3,000	
Fitness Center Repairs/Supplies	$900		$190		$250		$440		$900	
Office Supplies	$1,500		$0		$0		$0		$1,500	
ASCAP/BMI License Fees	$500		$0		$500		$500		$500	
Pest Control	$1,200		$180		$270		$450		$1,200	
Total Amenity Center	 	$167,461 		 	$101,866 		 	$59,670 		 	$161,536 		 	$218,489 	
Total Expenditures	 	$439,353 		 	$297,288 		 	$127,733 		 	$425,020 		 	$513,977 	
ASSIGNED FUND BALANCE	 	$0 		 	$2,080 		 	-$2,081 		 	$0 		 	$0 	

Platted Lots:	FY 2020	FY 2021	
Assessments - On Roll	200	368	
Net Assessment - Per Unit	$695	$800	
Total Net Assessments	$139,000	$294,400	
Gross Assessment (6% Discount)	$147,340	$312,064	
Gross Assessment - Per Unit	$739	$851	
Developer Admin Assessment - Unplatted Lots		115	
Total Assessment Per Unit		$256	
Total Net Assessments		$29,440	
Gross Assessment (6% Discount)		$31,206	

2

REVENUES:

Special Assessments
The District will levy a Non-Ad Valorem assessment on platted lots within the District.

Cost Share – Tynes Blvd
The District will enter into an Agreement with East/West Partners and future landowners to cover the proportionate share of landscaping and irrigation services of Tynes Blvd.

Developer Assessments
The District will direct bill an assessment on unplatted lots within the District. Based on 283 unplatted lots with 483 total lots to be developed.

Developer Contributions
The District will enter into a Funding Agreement with the Developer to fund the balance of the General Fund Expenditures for the Fiscal Year.

EXPENDITURES:

Administrative:

Engineering Fees
The District has contracted England-Thims & Miler Inc. to provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Arbitrage
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Dissemination
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues. GMS, LLC will act as Dissemination Agent.

Attorney
The District has contracted with Hopping, Green & Sams, PA to provide general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required to annually conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The fee is based on similar Community Development Districts and includes the GASB 34 pronouncement.

Trustee Fees
The District issued Series 2017A/B that are held with a Trustee at US Bank. The amount of the trustee fees is based on the agreement between the Bank and the District.

Page 3

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. These services are further outlined in Exhibit "A" of the Management Agreement.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Insurance
The District has a General Liability & Public Officials Liability Insurance policy with Egis Insurance & Risk Advisors, a firm that specializes in providing insurance coverage to governmental agencies.

Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings etc in a newspaper of general circulation.

Other Current Charges
Bank charges and any other miscellaneous expenses that incurred during the year.

Website Administration
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS,  LLC and updated monthly.

Property Taxes
Represents the Ad Valorem taxes due on a Conservation Easement held by the Districts. Taxes are paid to  Jimmy Weeks, Clay County Tax Collector.

Office Supplies
Miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Field:

Utilities
The District will open electric and water accounts to serve the common areas.

Page 4

Security
The District has entered into an agreement with Viewpoint Security for private onsite patrols.

Repairs & Maintenance
Miscellaneous repairs and needed maintenance of the District common areas.

Landscape Maintenance
The District has entered into an agreement on 7/8/19 with Tree Amigos Outdoor Services, Inc. to furnish all supervision, labor, materials, equipment and transportation required to maintain the landscape and irrigation system of the District for $52,365 annually. The monthly amount is $6,916.33. On 5/14/20 the agreement was amended to include $9,612 for Tynes, Amenity, parks and ponds.

Landscape Contingency
Any necessary landscape work not covered by the monthly contract.

Lake Maintenance
The District has entered into an agreement with Sitex Aquatics, LLC for the maintenance of six (6) ponds. Service will include 12 treatments/inspections.

Irrigation Repairs
Miscellaneous irrigation repairs and maintenance.

Amenity Center:

Insurance
The cost of property insurance to cover the Districts assets.

Phone/Internet/Cable
Service to the clubhouse.

Electric
Electric service to the clubhouse.

Water/Irrigation
Water service to the clubhouse and surrounding landscaping.

Gas
The District has contracted with TECO for gas service to the clubhouse.

Refuse Service
Contract for monthly dumpster rental and removal.

Security Monitoring
Monitoring of clubhouse cameras/security system.

Access Cards
Represents the estimated cost for access cards to the District’s Amenity Center.

Page 5

Field Management/Admin

Contract administration services, field services and oversite of the Amenity Center is provided by the Greyhawk HOA, Inc. by agreement dated 5/1/20 at no cost to the District

Amenity Landscaping
Landscaping of area surrounding the Amenity Center is provided by Tree Amigos by a 7/8/19 agreement for
$30,631 annually.

Janitorial
The District entered into an agreement on 10/10/19 with Summit Facility Solutions for janitorial services for the Amenity Center for daily services (7x a week). The monthly amount is $3,637.20.

Janitorial Supplies
Cleaning supplies for the Janitorial staff.

Pool Maintenance
The District has entered into an agreement on 6/6/19 with Crown Pools Inc. for the monthly service of the pool at the rate of $1050 monthly. Services include three (3) weekly visits to complete cleaning of pool, brushing of tile, walls, floor, skim and deep netting vacuum when needed. Will check all equipment and water levels.

Facility Maintenance
Cost of routine repairs and maintenance of the District’s Amenity Center.

Repairs & Maintenance
Cost of routine repairs and replacements of the District’s common areas and Amenity Center.

Special Events
Represents the estimated cost for the District to host any special events for the community throughout the Fiscal Year.

Holiday Decorations
The cost of decorations for the Amenity Center.

Fitness Equipment Lease
The District is leasing equipment for the Fitness Center.

Fitness Center Repairs/Supplies
The cost of regular maintenance and any necessary repairs to the Fitness equipment.

Office Supplies
Supplies for the Amenity Center.

ASCAP/BMI License Fees
The cost of showing movies and streaming music in the Amenity Center.

Pest Control
The District has entered into an agreement with Apex Pest Control, Inc. for pest control services for the Amenity Center. Service will be performed once a month.

Page 6

Armstrong
Community Development District	Debt Service Fund
Series 2017A/B

	Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted
Budget	
 Description			 	FY2020			 	6/30/20			     3 Months			 	9/30/20			 	FY2021		
Revenues											
Assessments - Series 2017A On Roll		$265,819		$266,241		$0		$266,241		$265,819	
Assessments - Series 2017A Direct		$0		$10,327		$0		$10,327		$0	
Assessments - Series 2017B (Direct)		$50,663		$0		$0		$0		$0	
Interest Income		$0		$511		$200		$711		$0	
Carry Forward Surplus		$189,082		$979,290		$0		$979,290		$171,155	
Total Revenues		 	$505,564 		 	$1,256,369 		 	$200 		 	$1,256,569 		 	$436,974 	

Expenditures											
Series 2017A											
Interest 11/1		$98,975		$98,975		$0		$98,975		$97,797	
Interest 11/1		$65,000		$65,000		$0		$65,000		$70,000	
Principal 5/1		$97,797		$97,797		$0		$97,797		$96,528	
Series 2017B											
Interest 11/1		$25,331		$20,606		$0		$20,606		$0	
Special Call 11/1		$0		$785,000		$0		$785,000		$0	
Interest 5/1		$25,331		$0		$0		$0		$0	
Total Debt Service Expenditures		 	$312,435 		 	$1,067,378 		 	$0 		 	$1,067,378 		 	$264,325 	
EXCESS REVENUES / (EXPENDITURES) 	$193,129 		
 	$188,991	 	200 	 	189,191 		 	172,649 	

**2017B Bonds were paid off on 11/1/2019			
11/1/21 Interest		 	2017 A	
$	96,528	
			11/1/21 Principal		  $	70,000 	
					$	166,528	
		Assessments - Platted Lots on Tax Roll	
2017A			
		Product Type	# Units	Per Unit		Total	
		43' Lot	51	$1,053		$53,703	
		53' Lot	73	$1,299		$94,827	
		63' Lot	76	$1,543		 	$117,268 	
					$265,798	

7

Armstrong	Series 2017A
Community Development District	Amortization Schedule

PRINCIPAL
      DATE		 	BALANCE		 	INTEREST		 	PRINCIPAL		 	TOTAL	

1-May-18  (1)	$4,035,000.00	$117,120.60	$0.00	$0.00	
1-Nov-18	$4,035,000.00	$98,975.00	$0.00	$216,095.60	
1-May-19	$4,035,000.00	$98,975.00	$0.00	$0.00	
1-Nov-19	$4,035,000.00	$98,975.00	$65,000.00	$262,950.00	
1-May-20	$3,970,000.00	$97,796.88	$0.00	$0.00	
1-Nov-20	$3,970,000.00	$97,796.88	$70,000.00	$265,593.75	
1-May-21	$3,900,000.00	$96,528.13	$0.00	$0.00	
1-Nov-21	$3,900,000.00	$96,528.13	$70,000.00	$263,056.25	
1-May-22	$3,830,000.00	$95,259.38	$0.00	$0.00	
1-Nov-22	$3,830,000.00	$95,259.38	$75,000.00	$265,518.75	
1-May-23	$3,755,000.00	$93,900.00	$0.00	$0.00	
1-Nov-23	$3,755,000.00	$93,900.00	$75,000.00	$262,800.00	
1-May-24	$3,680,000.00	$92,540.63	$0.00	$0.00	
1-Nov-24	$3,680,000.00	$92,540.63	$80,000.00	$265,081.25	
1-May-25	$3,600,000.00	$90,740.63	$0.00	$0.00	
1-Nov-25	$3,600,000.00	$90,740.63	$80,000.00	$261,481.25	
1-May-26	$3,520,000.00	$88,940.63	$0.00	$0.00	
1-Nov-26	$3,520,000.00	$88,940.63	$85,000.00	$262,881.25	
1-May-27	$3,435,000.00	$87,028.13	$0.00	$0.00	
1-Nov-27	$3,435,000.00	$87,028.13	$90,000.00	$264,056.25	
1-May-28	$3,345,000.00	$85,003.13	$0.00	$0.00	
1-Nov-28	$3,345,000.00	$85,003.13	$95,000.00	$265,006.25	
1-May-29	$3,250,000.00	$82,865.63	$0.00	$0.00	
1-Nov-29	$3,250,000.00	$82,865.63	$100,000.00	$265,731.25	
1-May-30	$3,150,000.00	$80,365.63	$0.00	$0.00	
1-Nov-30	$3,150,000.00	$80,365.63	$100,000.00	$260,731.25	
1-May-31	$3,050,000.00	$77,865.63	$0.00	$0.00	
1-Nov-31	$3,050,000.00	$77,865.63	$105,000.00	$260,731.25	
1-May-32	$2,945,000.00	$75,240.63	$0.00	$0.00	
1-Nov-32	$2,945,000.00	$75,240.63	$115,000.00	$265,481.25	
1-May-33	$2,830,000.00	$72,365.63	$0.00	$0.00	
1-Nov-33	$2,830,000.00	$72,365.63	$120,000.00	$264,731.25	
1-May-34	$2,710,000.00	$69,365.63	$0.00	$0.00	
1-Nov-34	$2,710,000.00	$69,365.63	$125,000.00	$263,731.25	
1-May-35	$2,585,000.00	$66,240.63	$0.00	$0.00	
1-Nov-35	$2,585,000.00	$66,240.63	$130,000.00	$262,481.25	
1-May-36	$2,455,000.00	$62,909.38	$0.00	$0.00	
1-Nov-36	$2,455,000.00	$62,909.38	$140,000.00	$265,818.75	
1-May-37	$2,315,000.00	$59,321.88	$0.00	$0.00	
1-Nov-37	$2,315,000.00	$59,321.88	$145,000.00	$263,643.75	
1-May-38	$2,170,000.00	$55,606.25	$0.00	$0.00	
1-Nov-38	$2,170,000.00	$55,606.25	$150,000.00	$261,212.50	
1-May-39	$2,020,000.00	$51,762.50	$0.00	$0.00	
1-Nov-39	$2,020,000.00	$51,762.50	$160,000.00	$263,525.00	
1-May-40	$1,860,000.00	$47,662.50	$0.00	$0.00	
1-Nov-40	$1,860,000.00	$47,662.50	$170,000.00	$265,325.00	
1-May-41	$1,690,000.00	$43,306.25	$0.00	$0.00	
1-Nov-41	$1,690,000.00	$43,306.25	$175,000.00	$261,612.50	
1-May-42	$1,515,000.00	$38,821.88	$0.00	$0.00	
1-Nov-42	$1,515,000.00	$38,821.88	$185,000.00	$262,643.75	
1-May-43	$1,330,000.00	$34,081.25	$0.00	$0.00	
1-Nov-43	$1,330,000.00	$34,081.25	$195,000.00	$263,162.50	
1-May-44	$1,135,000.00	$29,084.38	$0.00	$0.00	
1-Nov-44	$1,135,000.00	$29,084.38	$205,000.00	$263,168.75	
1-May-45	$930,000.00	$23,831.25	$0.00	$0.00	
1-Nov-45	$930,000.00	$23,831.25	$215,000.00	$262,662.50	
1-May-46	$715,000.00	$18,321.88	$0.00	$0.00	
1-Nov-46	$715,000.00	$18,321.88	$225,000.00	$261,643.75	
1-May-47	$490,000.00	$12,556.25	$0.00	$0.00	
1-Nov-47	$490,000.00	$12,556.25	$240,000.00	$265,112.50	
1-May-48	$250,000.00	$6,406.25	$0.00	$0.00	
1-Nov-48	$250,000.00	$6,406.25	$250,000.00	$262,812.50	

 	$4,085,483.10	 	$4,035,000.00	 	$8,120,483.10 
(1) Represents Interest from 9/6/17 through 5/1/18

Armstrong
Community Development District	Debt Service Fund
Series 2019

	Proposed
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted
Budget	
 Description			 	FY2020			 	6/30/20			     3 Months			 	9/30/20			 	FY2021		
Revenues											
Assessments - Series 2019		$0		$0		$0		$0		$433,600	
Interest Income		$0		$476		$150		$626		$0	
Carry Forward Surplus		$0		$0		$0		$0		$145,432	
Total Revenues		 	$0 		 	$476 		 	$150 		 	$626 		 	$579,032 	
Expenditures											
Series 2019
Interest 11/1		
$0		
$0		
$0		
$0		
$144,806	
Principal 11/1		$0		$0		$0		$0		$0	
Interest 5/1		$152,851		$152,851		$0		$152,851		$144,806	
Total Debt Service Expenditures		 	$152,851 		 	$152,851 		 	$0 		 	$152,851 		 	$289,613 	
Other Sources/(Uses):											
Bond Proceeds		$731,257		$731,257		$0		$731,257		$0	
Total Other		 	$731,257 		 	$731,257 		 	$0 		 	$731,257 		 	$0 	

EXCESS REVENUES / (EXPENDITURES) 	$578,406	 	$578,882	 	$150	 	$579,032	 	289,420 

11/1/21Interest	$	144,806	
11/1/21 Principal	  $	140,000 	
	$	284,806	

9

Armstrong
Community Development District				Series 2019 Amortization Schedule	
PRINCIPAL
      DATE		 	BALANCE		
 	INTEREST			
 	PRINCIPAL		
 	TOTAL		
1-May-20	$7,500,000.00	$152,851.04		$0.00	$0.00	
1-Nov-20	$7,500,000.00	$144,806.25		$0.00	$297,657.29	
1-May-21	$7,500,000.00	$144,806.25		$0.00	$0.00	
1-Nov-21	$7,500,000.00	$144,806.25		$140,000.00	$429,612.50	
1-May-22	$7,360,000.00	$142,618.75		$0.00	$0.00	
1-Nov-22	$7,360,000.00	$142,618.75		$145,000.00	$430,237.50	
1-May-23	$7,215,000.00	$140,353.13		$0.00	$0.00	
1-Nov-23	$7,215,000.00	$140,353.13		$150,000.00	$430,706.26	
1-May-24	$7,065,000.00	$138,009.38		$0.00	$0.00	
1-Nov-24	$7,065,000.00	$138,009.38		$155,000.00	$431,018.76	
1-May-25	$6,910,000.00	$135,587.50		$0.00	$0.00	
1-Nov-25	$6,910,000.00	$135,587.50		$160,000.00	$431,175.00	
1-May-26	$6,750,000.00	$132,787.50		$0.00	$0.00	
1-Nov-26	$6,750,000.00	$132,787.50		$165,000.00	$430,575.00	
1-May-27	$6,585,000.00	$129,900.00		$0.00	$0.00	
1-Nov-27	$6,585,000.00	$129,900.00		$170,000.00	$429,800.00	
1-May-28	$6,415,000.00	$126,925.00		$0.00	$0.00	
1-Nov-28	$6,415,000.00	$126,925.00		$175,000.00	$428,850.00	
1-May-29	$6,240,000.00	$123,862.50		$0.00	$0.00	
1-Nov-29	$6,240,000.00	$123,862.50		$185,000.00	$432,725.00	
1-May-30	$6,055,000.00	$120,625.00		$0.00	$0.00	
1-Nov-30	$6,055,000.00	$120,625.00		$190,000.00	$431,250.00	
1-May-31	$5,865,000.00	$117,300.00		$0.00	$0.00	
1-Nov-31	$5,865,000.00	$117,300.00		$195,000.00	$429,600.00	
1-May-32	$5,670,000.00	$113,400.00		$0.00	$0.00	
1-Nov-32	$5,670,000.00	$113,400.00		$205,000.00	$431,800.00	
1-May-33	$5,465,000.00	$109,300.00		$0.00	$0.00	
1-Nov-33	$5,465,000.00	$109,300.00		$215,000.00	$433,600.00	
1-May-34	$5,250,000.00	$105,000.00		$0.00	$0.00	
1-Nov-34	$5,250,000.00	$105,000.00		$220,000.00	$430,000.00	
1-May-35	$5,030,000.00	$100,600.00		$0.00	$0.00	
1-Nov-35	$5,030,000.00	$100,600.00		$230,000.00	$431,200.00	
1-May-36	$4,800,000.00	$96,000.00		$0.00	$0.00	
1-Nov-36	$4,800,000.00	$96,000.00		$240,000.00	$432,000.00	
1-May-37	$4,560,000.00	$91,200.00		$0.00	$0.00	
1-Nov-37	$4,560,000.00	$91,200.00		$250,000.00	$432,400.00	
1-May-38	$4,310,000.00	$86,200.00		$0.00	$0.00	
1-Nov-38	$4,310,000.00	$86,200.00		$260,000.00	$432,400.00	
1-May-39	$4,050,000.00	$81,000.00		$0.00	$0.00	
1-Nov-39	$4,050,000.00	$81,000.00		$270,000.00	$432,000.00	
1-May-40	$3,780,000.00	$75,600.00		$0.00	$0.00	
1-Nov-40	$3,780,000.00	$75,600.00		$280,000.00	$431,200.00	
1-May-41	$3,500,000.00	$70,000.00		$0.00	$0.00	
1-Nov-41	$3,500,000.00	$70,000.00		$290,000.00	$430,000.00	
1-May-42	$3,210,000.00	$64,200.00		$0.00	$0.00	
1-Nov-42	$3,210,000.00	$64,200.00		$305,000.00	$433,400.00	
1-May-43	$2,905,000.00	$58,100.00		$0.00	$0.00	
1-Nov-43	$2,905,000.00	$58,100.00		$315,000.00	$431,200.00	
1-May-44	$2,590,000.00	$51,800.00		$0.00	$0.00	
1-Nov-44	$2,590,000.00	$51,800.00		$325,000.00	$428,600.00	
1-May-45	$2,265,000.00	$45,300.00		$0.00	$0.00	
1-Nov-45	$2,265,000.00	$45,300.00		$340,000.00	$430,600.00	
1-May-46	$1,925,000.00	$38,500.00		$0.00	$0.00	
1-Nov-46	$1,925,000.00	$38,500.00		$355,000.00	$432,000.00	
1-May-47	$1,570,000.00	$31,400.00		$0.00	$0.00	
1-Nov-47	$1,570,000.00	$31,400.00		$370,000.00	$432,800.00	
1-May-48	$1,200,000.00	$24,000.00		$0.00	$0.00	
1-Nov-48	$1,200,000.00	$24,000.00		$385,000.00	$433,000.00	
1-May-49	$815,000.00	$16,300.00		$0.00	$0.00	
1-Nov-49	$815,000.00	$16,300.00		$400,000.00	$432,600.00	
1-May-50	$415,000.00	$8,300.00		$0.00	$0.00	
1-Nov-50	$415,000.00	$8,300.00		$415,000.00	$431,600.00	
	     $5,735,607.31 		 	$7,500,000.00 	 	$13,235,607.31 	
	10