This form is a Municipal Bond Issue Calculator. Input the Funds Needed, Term, and Interest Rate and the other information will be calculated and displayed automatically.
The monthly payments and corresponding loan amount are estimations. Please contact us for a comprehensive evaluation.
About The Loan Calculations:
Funds Needed is the amount you will require for your use after the bonds are sold. The other costs (where permitted by law and regulations) are added to the amount borrowed.
The Debt Service Reserve (DSR) is an amount put aside with the Trustee to be available in the event you are unable to make a monthly payment on time. You earn interest on this DSR which is credited toward your monthly payments, and the principal of the reserve fund is used to help offset your final year's debt service payments. The rate used to calculate the return on the DSR here is the same as the bond rate.
Cost of Issuance Financed - Governmental regulations limit the amount of issuance costs which a 501(c) (3) corporation can finance with tax-exempt financing to 2% of the amount borrowed. Issuing costs beyond this limit will be approximately 2% which can be paid by you at closing or can be financed using taxable financing. * Governmental entities are not limited to 2% and are therefore able to borrow the entire amount at tax-exempt rates.
Rounding Amount - Municipal Bonds are typically issued in denominations of $5,000 or greater. The amount borrowed will be rounded up to the nearest $5,000.
The Total Loan Amount is used as the basis in determining the payments you will make. This gross payment may be reduced by the interest earned by the Debt Service Reserve.
Municipal Capital Markets Group, Inc. is a member firm of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. For more information on calculating monthly payments, please call customer service at (972) 386-0200