Township Council Meeting — Packet

Township of West Orange Essex County, New Jersey GENERAL IMPROVEMENT - PRELIMINARY BORROWING ANALYSIS INCLUDES EXISTING BONDS, LOANS & NOTES AND $5.5M ANNUAL CAPITAL PROGRAM PRIOR TO NEW ISSUES Fiscal Year Ending 12/31 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057 2058 2059 Total: 1 **PROPOSED NEW ISSUES** 2 Existing Debt Service Principal Interest Total P+I 6,941,236 4,818,972 11,760,208 6,414,157 1,755,678 8,169,835 6,150,909 1,585,830 7,736,739 6,300,274 1,367,899 7,668,173 4,260,274 1,197,374 5,457,648 4,366,274 1,047,099 5,413,373 3,710,274 895,504 4,605,778 3,811,274 757,804 4,569,078 3,290,351 616,066 3,906,417 3,405,351 490,941 3,896,292 3,430,000 373,254 3,803,254 3,480,000 258,032 3,738,032 2,727,000 152,335 2,879,335 215,000 95,520 310,520 225,000 90,020 315,020 235,000 84,270 319,270 240,000 78,273 318,273 250,000 71,775 321,775 260,000 64,763 324,763 270,000 57,475 327,475 275,000 49,981 324,981 285,000 41,925 326,925 295,000 33,225 328,225 310,000 24,150 334,150 320,000 14,700 334,700 330,000 4,950 334,950 Projected BANs (2025-2037) Principal Interest Total P+I 61,797,375 9,715,328 16,027,814 77,825,189 1,810,828 2,339,000 2,295,500 1,853,098 2,525,135 3,024,873 162,500 266,875 377,813 478,080 579,615 653,130 683,730 700,020 703,125 173,000 264,000 349,000 420,000 488,000 531,000 1,045,000 12,007,994 3,663,926 4,864,135 5,320,373 162,500 266,875 550,813 742,080 928,615 1,073,130 1,171,730 1,231,020 1,748,125 21,723,322 2 Projected SENs (2025-2042) Principal Interest Total P+I 1,690,602 1,690,602 1,706,398 165,456 1,871,854 1,250,000 124,525 1,374,525 1,160,000 98,100 1,258,100 460,000 72,200 532,200 560,000 78,000 638,000 500,000 78,750 578,750 500,000 82,500 582,500 500,000 86,250 586,250 500,000 90,000 590,000 500,000 90,000 590,000 500,000 90,000 590,000 500,000 90,000 590,000 500,000 90,000 590,000 60,000 400,000 460,000 36,000 300,000 336,000 200,000 18,000 218,000 100,000 6,000 106,000 11,827,000 1,355,781 13,182,781 Principal 2028 Bonds Interest AFTER NEW ISSUES Aggregate Debt Service Total

00 400,000 460,000 36,000 300,000 336,000 200,000 18,000 218,000 100,000 6,000 106,000 11,827,000 1,355,781 13,182,781 Principal 2028 Bonds Interest AFTER NEW ISSUES Aggregate Debt Service Total P+I 2,500,000 2,500,000 3,045,000 3,175,000 3,310,000 3,450,000 3,595,000 3,750,000 3,905,000 4,075,000 4,245,000 4,425,000 4,615,000 4,810,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 3,459,500 3,353,250 3,247,000 3,117,588 2,982,650 2,841,975 2,695,350 2,542,563 2,383,188 2,217,225 2,044,038 1,863,625 1,675,563 1,479,425 1,275,000 1,062,500 850,000 637,500 425,000 212,500 5,959,500 5,853,250 6,292,000 6,292,588 6,292,650 6,291,975 6,290,350 6,292,563 6,288,188 6,292,225 6,289,038 6,288,625 6,290,563 6,289,425 6,275,000 6,062,500 5,850,000 5,637,500 5,425,000 5,212,500 81,400,000 40,365,438 121,765,438 Principal 2037 Bonds Interest Total P+I Pay Go Capital (2029-2052) Principal Total P+I 2,375,000 2,550,000 2,950,000 3,050,000 3,775,000 3,900,000 4,150,000 4,400,000 5,000,000 5,500,000 5,500,000 5,500,000 655,000 690,000 730,000 770,000 810,000 855,000 905,000 955,000 1,005,000 1,060,000 1,120,000 1,180,000 1,245,000 1,300,000 1,300,000 801,900 765,875 727,925 687,775 645,425 600,875 553,850 504,075 451,550 396,275 337,975 276,375 211,475 143,000 71,500 1,456,900 1,455,875 1,457,925 1,457,775 1,455,425 1,455,875 1,458,850 1,459,075 1,456,550 1,456,275 1,457,975 1,456,375 1,456,475 1,443,000 1,371,500 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 2,375,000 2,550,000 2,950,000 3,050,000 3,775,000 3,900,000 4,150,000 4,400,000 5,000,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 14,580,000 7,175,850 21,755,850 114,650,000 114,650,000 Principal 8,631,838 9,931,383 9,739,909 9,755,774 9,595,274 9,976,274 10,378,274 10,800,274 11,224,351 11,675,351 12,163,000 12,661,000 13,177,000 10,945,000 11,060,000 11,190,000 11,325,000 11,470,000 11,615,000 11,675,000 11,730,000 11,790,000 11,855,000 11,930,000 7,000,000 7,075,000 6,800,000 6,800,000 Interest 4,818,972 3,774,232 4,235,490 4,490,872 4,891,574 4,745,224 4,599,066 4,435,971 4,264,581 4,076,046 3,842,334 3,590,614 3,328,648 3,204,645 2,959,933 2,711,820 2,459,610 2,202,625 1,940,638 1,673,825 1,4

18,972 3,774,232 4,235,490 4,490,872 4,891,574 4,745,224 4,599,066 4,435,971 4,264,581 4,076,046 3,842,334 3,590,614 3,328,648 3,204,645 2,959,933 2,711,820 2,459,610 2,202,625 1,940,638 1,673,825 1,404,056 1,130,975 854,500 574,625 291,075 216,425 143,000 71,500 Incremental Tax Impact3 Total P+I 13,450,810 13,705,615 15.68 13,975,399 16.60 14,246,646 16.69 14,486,848 14.78 14,721,498 14.44 14,977,341 15.74 15,236,246 15.93 15,488,932 15.55 15,751,397 16.15 16,005,334 15.63 16,251,614 15.16 16,505,648 15.63 14,149,645 14,019,933 13,901,820 13,784,610 13,672,625 13,555,638 13,348,825 13,134,056 12,920,975 12,709,500 12,504,625 7,291,075 7,291,425 6,943,000 6,871,500 293,969,703 76,932,876 370,902,579 (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% each year. 2025 BAN payments and SEN interest are included in Existing Debt Service. Assumes 2651-21 is reduced by $10.8 million from sale proceeds in 2028 (55 Lakeside) and 2564-19 is reduced by $6.3 million from green acres grant funds in 2028 (Rock Spring). (3) Represents the annual tax impact to the average residential home assessed at $615,472. Calculation based on Total Taxable Valuation of $10,001,287,802. No tax impact assumed for 2025 as budget is already adopted. Reflects tax increases versus highest previous year. No change in tax rate shown for years with debt service declines. ASSUMPTIONS Projected SENs (2025-2042) Projected BANs (2025-2037) 2028 Bonds 2037 Bonds Issue Date: First Interest Date: 11/05/25 11/05/26 Issue Date: First Interest Date: 11/05/25 11/05/26 Issue Date: First Interest Date: 11/01/28 05/01/29 Issue Date: First Interest Date: First Maturity Date: 11/05/26 First Maturity Date: 11/05/26 First Maturity Date: 11/01/29 First Maturity Date: 11/01/38 Final Maturity Date: 11/05/37 Final Maturity Date: 11/05/42 Final Maturity Date: 11/01/48 Final Maturity Date: 11/01/52 Initial Interest Rate: 2.50% Initial Par Amount: $ 74,123,928 Par Amount: Borrowing Rate: 4.50% Borrowing Rate: 5,027,000 Par Amount: $ 81,400,000 Par Amount: $ 14,580,000 Structure: BAN Max Useful

rest Rate: 2.50% Initial Par Amount: $ 74,123,928 Par Amount: Borrowing Rate: 4.50% Borrowing Rate: 5,027,000 Par Amount: $ 81,400,000 Par Amount: $ 14,580,000 Structure: BAN Max Useful Life: n/a Structure: SEN Structure: Conforming/Level Structure: Conforming/Level Max Useful Life: n/a Max Useful Life: $ 4.25% 20.10 Years Borrowing Rate: 11/01/37 05/01/38 Max Useful Life: 5.50% 15.00 Years