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Page 2 of 2 <br />to show as an appropriation in FY09. (An alternate would be to include all $6.6 million in the FY09 appropriation, and <br />roll it ...)  <br />  <br />For Fund 211, the property tax fund, we'll include a levy sufficient to repay $6,600,000 plus interest, taking into account <br />a variable interest rate and uncertain spending schedule. <br />  <br />  For the property tax levy, here’s the plan: <br />We'll make interest payments on 12/1/09  and 6/1/10 and repay the $6,600,000 in principal on either 12/1/09 or <br />? <br />          <br />6/1/10 . <br />Budget (and levy) in FY10 assuming $6,600,000 in principal payment plus interest of $ xxx (to be determined).  <br />? <br />         <br />When 6/1/10 comes around, if our interest payment is less than  that amount , we can apply the extra to an early <br />redemption of any principal that is outstanding at that point.  If there is no additional principal outstanding at that <br />point, we will carry over the extra to reduce the levy amount for FY11 . <br />We don't need an unappropriated ending fund balance for this issue, because we're scheduling payments on 12/1 and <br />? <br />         <br />6/1. <br />  <br />11/14/2008 <br />