30-26 Attachment - CY 2026 Debt Plan.pdf

2025 13,450,810 13,450,810 139,022,466 13,450,810 Outstanding Debt (12/31/2024): Bonds Loans Notes SENs Total 2026 8,169,835 3,517,226 2,018,554 5,535,780 13,705,615 149,540,083 13,705,615 1.9% (per Annual Debt Statement) $60,349,000 $832,023 $66,078,464 $5,027,000 $132,286,487 2027 7,736,739 3,589,000 2,649,660 6,238,660 13,975,399 145,300,174 13,975,399 2.0% *Authorized But Not Issued as of 12/31/24 is $39,961,258 2028 7,668,173 3,455,500 3,122,973 6,578,473 14,246,646 123,910,799 14,246,646 1.9% 2029 5,457,648 2,960,000 3,694,200 6,654,200 12,111,848 119,815,525 2,375,000 14,486,848 1.7% 2025 Total Debt Service: Bonds Loans Notes SENs Total 2030 5,413,373 3,060,000 3,698,125 6,758,125 12,171,498 115,339,251 2,550,000 14,721,498 1.6% (estimated) $8,116,594 $213,268 $3,194,332 $1,926,616 $13,450,810 2031 4,605,778 3,718,000 3,703,563 7,421,563 12,027,341 110,460,977 2,950,000 14,977,341 1.7% *Excludes approximately $350,000 of Special Assessment Bonds debt service. 2032 4,569,078 3,939,000 3,678,168 7,617,168 12,186,246 105,160,702 3,050,000 15,236,246 1.7% 2033 3,906,417 4,159,000 3,648,515 7,807,515 11,713,932 99,436,351 3,775,000 15,488,932 1.7% Expected New Debt: 1) $6.7 million of new debt authorized/issued in 2025 2034 3,896,292 4,370,000 3,585,105 7,955,105 11,851,397 93,261,000 3,900,000 15,751,397 1.7% 2) Authorized But Not Issued debt of $22.8 million issued in 2025 and 2026 2035 3,803,254 4,583,000 3,469,080 8,052,080 11,855,334 86,598,000 4,150,000 16,005,334 1.6% 3) Annual capital program of $5 million per year (mix of debt and pay-go) 2036 3,738,032 4,781,000 3,332,583 8,113,583 11,851,614 79,437,000 4,400,000 16,251,614 1.5% 4) $800,000 of new special emergency notes in 2025 and $500,000 annually thereafter 2037 2,879,335 5,450,000 3,176,313 8,626,313 11,505,648 71,760,000 5,000,000 16,505,648 1.6% 5) Includes $6.3 million of grants funds to pay down ordinance #2564-19 from 2026-28 2038 310,520 5,230,000 3,109,125 8,339,125 8,649,645 66,315,000 5,500,000 14,149,645 -14.3% 6) Includes $10.8 million of sale proceeds to pay down ordinance #2651-21 in 2028 2039 315,020 5,335,000 2,869,913 8,204,913 8,519,933 60,755,000 5,500,000 14,019,933 -0.9% 2040 319,270 5,455,000 2,627,550 8,082,550 8,401,820 55,065,000 5,500,000 13,901,820 -0.8% Borrowing Analysis Scenario: 1) Roll existing notes to 2028 2041 318,273 5,585,000 2,381,338 7,966,338 8,284,610

0 319,270 5,455,000 2,627,550 8,082,550 8,401,820 55,065,000 5,500,000 13,901,820 -0.8% Borrowing Analysis Scenario: 1) Roll existing notes to 2028 2041 318,273 5,585,000 2,381,338 7,966,338 8,284,610 49,240,000 5,500,000 13,784,610 -0.8% 2) Issue new notes in 2025-2036 to finance "Expected New Debt" 2042 321,775 5,720,000 2,130,850 7,850,850 8,172,625 43,270,000 5,500,000 13,672,625 -0.8% 3) Issue $81.4 million bonds between 2026-2028 to finance all outstanding notes 2043 324,763 5,855,000 1,875,875 7,730,875 8,055,638 37,155,000 5,500,000 13,555,638 -0.9% 4) Roll new notes to 2037 2044 327,475 5,905,000 1,616,350 7,521,350 7,848,825 30,980,000 5,500,000 13,348,825 -1.5% 5) Issue $14.6 million bonds in 2037 to finance all outstanding notes 2045 324,981 5,955,000 1,354,075 7,309,075 7,634,056 24,750,000 5,500,000 13,134,056 -1.6% 6) Roll SENs with mandatory pay downs and annual new money as shown above 2046 326,925 6,005,000 1,089,050 7,094,050 7,420,975 18,460,000 5,500,000 12,920,975 -1.6% 7) Full migration to pay-go capital funding beginning 2038 2047 328,225 6,060,000 821,275 6,881,275 7,209,500 12,105,000 5,500,000 12,709,500 -1.6% 2048 334,150 6,120,000 550,475 6,670,475 7,004,625 5,675,000 5,500,000 12,504,625 -1.6% Interest Rate Assumptions: Based on "AA" S&P credit rating (last affirmed in October 2025) 2049 334,700 1,180,000 276,375 1,456,375 1,791,075 4,175,000 5,500,000 7,291,075 -41.7% Initial bond rate of 3.50% and initial note rate of 2.50% 2050 334,950 1,245,000 211,475 1,456,475 1,791,425 2,600,000 5,500,000 7,291,425 0.0% Note rates assumed to increase 0.25% per year 2051 1,300,000 143,000 1,443,000 1,443,000 1,300,000 5,500,000 6,943,000 -4.8% Bond rates assumed to increase 0.25% per year 2052 1,300,000 71,500 1,371,500 1,371,500 5,500,000 6,871,500 -1.0% Assumes 15-year useful life on new ordinances Total: $79,515,791 $115,831,726 $60,905,062 $176,736,788 $256,252,579 $114,650,000 $370,902,579 Tax Base Assumptions: Total Assessed Valuation: $10,001,287,802 $14,246,646 Average Home Value: $615,472 $8,992,658 (3) Annual pay-go capital funded as a combination of debt and cash as described herein. New Bonds, Notes & Deferred Charges Pay-go Capital + Annual Debt Service Township of West Orange PROJECTED AGGREGATE DEBT SERVICE & CAPITAL Essex County, New Jersey Aggregate Debt Service (1) Includes all Current Fund debt including: General

o Capital + Annual Debt Service Township of West Orange PROJECTED AGGREGATE DEBT SERVICE & CAPITAL Essex County, New Jersey Aggregate Debt Service (1) Includes all Current Fund debt including: General Improvement bonds, NJIB loans, debt service on BANs for 2025 and deferred charges (SENs) for 2025. Excludes special assessment bonds debt service. (2) Borrowing rate assumed to increase 0.25% for notes and 0.25% for bonds each year. Includes voluntary principal pay downs on notes that are subject to change. INCLUDES EXISTING BONDS, LOANS & NOTES AND $5.5M ANNUAL CAPITAL PROGRAM CURRENT DEBT PROFILE & ASSUMPTIONS Percentage Increase Annual Pay-Go Capital Max Annual Debt Service: Avg Annual Debt Service: Outstanding Principal AmountDebt Plan - $5.5M Annual Capital Program Principal Interest Total Debt Service FY Ending 12/31 Existing Debt Service