Micro-Muni Sizing Software - $1,500
MICRO-MUNI Ò SIZING is a software package specifically designed to assist bond underwriters and financial consultants in determining the cash flows associated with various project financings. MICRO-MUNI Ò SIZING is compatible with our MICRO-MUNI Ò DEBT and MICRO-MUNI Ò REFUND software packages. The following summarizes some of the features offered by MICRO-MUNI Ò SIZING:

• MICRO-MUNI Ò SIZING operates on microcomputers, under a DOS environment, and utilizes the initial 640K area of conventional memory (540K of free space is recommended). All MICRO-MUNI Ò SIZING program files can be copied directly to your hard disk and utilize approximately 2 million bytes of storage space.

• MICRO-MUNI Ò SIZING is a command driven system, often with several options available under one command. For example the INPUT command provides a menu of input screens. Data entry screens simplify input and provide immediate validation of data entry items (e.g. valid maturity dates).

• All dates are processed and saved in your data files as four (4) digit years, two (2) digit months, and two (2) digit days (e.g. the year 1/15/2001 is saved as 20010115). MICRO-MUNI Ò SIZING will accept valid input years well into the next millenium (years up to the year 3000 if your are still around).

• Data entry screens simplify input or changes to escrow cash requirements and escrow securities, as well as providing immediate validation of data entry items (e.g. valid dates).

• Up to 512 Bond debt service repayment dates can be utilized. Bond principal and/or interest can be monthly, quarterly, semi-annual or annual.

• Multiple Bond Types can be entered for each bond issue. The bond types are: Standard (Current Interest Bonds), CABS (Capital Appreciation Bonds), Notes, 4) Term Bonds and 5) Term CAB (Term Capital Appreciation Bonds).

• Several Bond Debt Service Solutions are available for determining the repayment amounts for bond maturities. The bond solutions available are: LEVEL (level debt service payments), ACCELERATED (front loaded bond debt service), DEFERRED (back loaded bond debt service), UNIFORM (proportional debt service based on a user defined maximum allowable debt service schedule), FILL (determines the maximum amount of bonds that can be issued based on a user defined maximum debt service schedule), EQUAL (equal principal payments), LEVEL and UNIFORM Net Debt Service solutions (which are similar to the above LEVEL and UNIFORM solutions, but wraparound the new Debt Service Reserve Fund).

• Bond solutions can solve around some fixed maturity amounts, and can also be forced to consider existing debt service. Moreover, bond solutions can be determined for a mix of Current Interest Bonds, Notes, Capital Appreciation Bonds, and Term Bonds or Term Capital Appreciation Bonds.

• Up to 512 Construction Draw Dates and Amounts can be entered as well as multiple construction draw investment rates. Construction fund earnings can be utilized for either gross or net funding the initial construction fund amount.

• Bond Interest can be Capitalized to any date prior to the final bond maturity date. The Capitalized Interest Fund can be gross or net funded, included accrued, cover letter of credit fees and can be automatically invested at the restricted allowable escrow yield.

• Two independent Debt Service Reserve Funds can be automatically calculated as equal to a percentage of the maximum annual or semi-annual debt service, maximum annual or semi-annual interest, average annual debt service, maximum annual debt service of the new bond issue plus prior debt service, a percentage of the bond size, or a flat dollar amount.

• Eighteen additional sources and uses of funds can be specified in sizing the bond issue. These funds can be either a fixed dollar amount or a percentage of the bond issue. Bond insurance, as a use of funds, is calculated as a percentage of the total debt service (less accrued and capitalized interest, if desired).

• Bond insurance can be calculated by maturity and up to five different bond insurers and calculation methods can be used to insure any bond maturity.
  
• Letter of Credit payments can be calculated and included in the Maximum Allow Escrow Yield and also in the TIC computations.

• Several REPORTS are available to evaluate project financing cash flows, such as: Bond Debt Service, Construction Fund, Capitalized Interest Fund, Sources and Uses of Funds, Letter of Credit Fees, Net Debt Service (with and without Letter of Credit), and Net Debt Service Savings between the new and old bond issue(s).

• An accreted value report is available for Capital Appreciation Bonds. Four accretion calculation methods are available, such as 1) Future Value accretion based on Stated Yield to Maturity, 2) Future Value Accretions based on Actual Yield to Maturity, 3) Present Value of Future receipts at Stated Yield to Maturity, and 4) Re-pricing the CAB on each debt service payment date.

• Present Value Calculations (Discounting Cash Flows) can be obtained for the Bond Issue, Construction Fund, Capitalized Interest Fund, Debt Service Reserve Fund, Net Debt Service and Net Debt Service Savings (with and without a letter of credit).

• Gross Yield Calculations (Maximum Allowable Refunding Yield) can be obtained for restricted yielding escrows, as well as True Interest Cost (TIC) calculations.

• Bond debt service cash flows can be output to data files, which can then be imported into various spreadsheet packages.
  
• The scope of our services includes financial consulting on various project financings. Our municipal finance packages contain professional documentation to insure the smooth and orderly implementation of all systems.