Clarksville, TN, City of (TN) General Obligation Bonds

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, TN, City of (TN) General Obligation Bonds 1 City of, Tennessee General Obligation Improvement and Refunding Bonds Federally Taxable, Series C, $2,550,000 Dated: March 23, 2 City of, Tennessee

1 , TN, City of (TN) General Obligation Bonds 1 City of, Tennessee General Obligation Improvement and Refunding Bonds Federally Taxable, Series C, $2,550,000 Dated: March 23, 2 City of, Tennessee General Obligation Public Improvement Bonds Federally Taxable, Series B (Qualified Energy Conservation Bonds - Direct Payment), $1,240,000 Dated: March 23, 3 City of, Tennessee General Obligation Public Improvement Bonds, Series A, $16,850,000 Dated: March 23, 4 City of, Tennessee, General Obligation Refunding and Improvement Bonds, Series 2014, $10,425,000 Dated: May 7, City of, Tennessee General Obligation Public Improvement Bonds, Series 2012, $13,025,000, Dated: October 2, City of, Tennessee Taxable General Obligation Improvement and Refunding Bonds, Series 2011, $12,180,000, Dated: February 24, City of, Tennessee General Obligation Refunding Bond, Series 2009A, $4,411,950, Dated: May 7, 2009 NAR 8 City of, Tennessee General Obligation Refunding Bonds, Series 2009, $21,753,000, Dated: April 2, 2009 NAR 9 City of, Tennessee Taxable General Obligation Industrial Park Bonds, Series 2006, $4,990,000, Dated: September 13, 2006 Long Term Debt Service Requirements Combined Debt Service % of Principal Fiscal Years Principal Total Retired 2017 $7,599,000 $3,199,222 $10,798, % ,498,000 3,031,125 10,529, % ,865,000 2,826,336 10,691, % ,344,000 2,593,507 10,937, % ,601,000 2,351,235 9,952, % ,642,000 2,116,122 9,758, % ,453,000 1,883,840 8,336, % ,032,000 1,681,150 7,713, % ,291,000 1,494,521 7,785, % ,615,000 1,298,954 6,913, % ,794,000 1,129,407 6,923, % ,630, ,515 6,600, % ,231, ,681 6,050, % ,432, ,917 6,128, % ,631, ,989 6,199, % ,212, ,901 5,644, % ,140, ,139 5,447, % ,861, ,012 4,042, % ,170,000 83,300 1,253, % ,210,000 42,350 1,252, % % Total $115,251,000 $27,708,223 $142,959, % Less Self Supporting Debt 1,925, ,700 2,135,700 Total $113,326,000 $27,497,523 $140,823,523 Statement of Bonded Debt General Obligation Debt Existing 117,887,208 This Issue Refunded Total Bonded Debt 117,887,208 Less: Self Supporting Debt 1,925,000 Less: Debt Service Funds Net Bonded Debt 115,962,208 Montgomery County's Total Bonded Debt 294,795,000 Amount applicable to City of 73.06% Net Overlapping Bonded Debt 215,377,227 Net Bonded Debt Outstanding Including Net Overlapping Bonded Debt 331,339,435 City of City and Net Overlapping Total Debt Per Capita $790 $2,090 Net Direct Debt Per Capita $825 $1,529 Total Debt / Actual Value 1.56% 3.88% Net Debt / Actual Value 1.53% 2.84% Total Debt / Assessed Value 4.88% 12.07% Net Debt / Assessed Value 4.76% 8.84% Montgomery County Assessed Value $2,540,968,220 $3,529,963,026 Appraised Value $7,906,385,669 $12,315,290,725 Population 149, ,961 's Assessed Value as a Percentage of Montgomery County's Assessed Value: 71.98%, 2006 Total Top Ten Largest Taxpayers of Taxpayer Business Assessment Valuation 1 Health System Health $ 125,380, % 2 Governor's Square Mall Retail 46,739, % 3 Nine LP Residential 41,144, % 4 SC Waterford Landings Residential 25,821, % 5 Campus Crest at LLC Residential 22,456, % 6 The Preserve at Spring Creek Residential 19,011, % 7 NPP Cumberland LLC Residential 18,179, % 8 Trane Company Manufacturer 12,716, % 9 Bellsouth Telecommunications Utility 10,534, % 10 Cumberland Electric Membership Corp. Utility 9,514, % Total - Top Ten Taxpayers $331,497, % All Taxpayers 2,247,472, % Total for All Taxpayers $2,578,969, %, 2006 Property Tax Rates, Assessments and Delinquencies Tax Rate Total Amount Tax Year Fiscal Year per $100 Assessments Delinquent $32,442,184 $1,329,029

2 MAJOR FUND SUMMARIES, 2006 GOVERNMENTAL FUNDS (COMBINED) Taxes State Taxes Charges for Services Investment earnings Community development Miscellaneous Agencies Debt Service Principal See Statement of Revenues, Expenditures and changes in Fund Balances - Governmental Funds on pate 25 of the Financial Stmts. Total Financing Sources (Uses) Excess (Deficiency) of Revenues and Sources Over (Under) Beginning Fund Balance, 2006 GENERAL FUND Total Taxes Intergovernmental Charges for Services Investment earnings See Column 1 of the Statement of Revenues, Expenditures and Miscellaneous Agencies Total Financing Sources (Uses) Excess (Deficiency) of Revenues and Sources Over (Under), 2006 SPECIAL REVENUE FUNDS Local Sales Taxes/Property Taxes Program Income See Column 4 of the Statement of Revenues, Expenditures and Appropriations Miscellaneous Community Agencies Total Financing Sources (Uses) Excess (Deficiency) of Revenues and Sources Over (Under)

3 , 2006 DEBT SERVICE FUND Local Sales Taxes/Property Taxes Program Income Bond Proceeds Transfers In Transfers from non-component unit See Column 2 of the Statement of Revenues, Expenditures and Appropriations Debt Service Principal Expenditures Net Change in Fund Balance Residual Equity Transfer / Restatement, 2006 CAPITAL PROJECTS FUND Federal and State Contributions Bond Proceeds Transfer In See Column 3 of the Statement of Revenues, Expenditures and Capital Investments Expenditures Excess Revenues (Expeditures) Residual Equity Transfer / Restatement, 2006 INTERNAL SERVICE FUNDS Operating Revenue Sales Insurance Premiums Income Total Operating Revenues See the Statement of Revenues, Expenses and Changes in Net Position Proprietary Funds on page 35 of the Financial Statements. Operating Expenses Claims Administrative and General Operating Income (Loss) and Dividend Income income (expenses) Net Income (Loss) Equity Transfer / Fund Balance Adjustment Net Assets at Beginning of Year Net Assets at End of Year

4 Series 2011, 2006 ENTERPRISE FUNDS Operating Revenue Utility Sales Fees and Fines Rental Income Miscellaneous Income Total Operating Revenues See the Statement of Revenues, Expenses and Changes in Net Position Proprietary Funds on page 35 of the Financial Statements. Operating Expenses Purchased Power and Gas Operation and Maintenance Tax and Tax Equivalents Depreciation and Amortization Total Operating Expenses Operating Income (Loss) (Expenses) and Dividend Income Operating Capital Contributions Expense Operating Transfers In Operating Transfers Out Income (Expense) Total Operating Expenses Net Income (Loss) Equity Transfer of Property Contributed Capital Extraordinary Item Net Assets at Beginning of Year Net Assets at End of Year ECONOMIC AND DEMOGRAPHIC INFORMATION Population: City, County, State and Nation City of 149,176 Montgomery County 190,000 Tennessee 6,459,000 United States 322,856,000 Per Capita Personal Income Percent Change , MSA 38,259 3% Montgomery County 39,708 0% Tennessee 40,457 14% United States 46,069 15% ** latest available data 2014 US Bureau of the Census Percentage of Households By Effective Buying Income City of Montgomery State of County Tennessee United States Under $24, % 22.0% 28.0% 25.0% $24,999-$34, % 14.0% 15.0% 12.0% $35,000-$49, % 18.0% 16.0% 17.0% $50,000 and over 43.0% 46.0% 42.0% 46.0% Median Household EBI $ 44,679 $ 46,506 $ 41,940 $ 46,738 Retail Sales By Store Group Total Retail Sales $2,376,686 Autos, Boats, & Aircraft; 551,595 Service Stations Eating & Drinking Establishments $269,258 Food Stores $321,214 Furniture & Home Décor; $318,292 Building Materials General Merchandise; Apparel & Accessories $619,564 Retail $296,763 ** latest data from TN Dept. of Revenue

5 Employment Civilian Unemployment Year Labor Force Employment Unemployment Rate (%) Tennessee USA ,102 70,982 5, % 6.7% 6.2% ** latest data from Bureau of Labor Statistics Major Employers Employer Employees Department of Defense (Ft. Campbell) 5,434 -Montgomery County School System 4,757 City of 1,451 Wal-mart Supercenter 1,363 Tennova Healthcare (formerly Gateway Medical Center) 1,150 Trane Company 1,100 Montgomery County 982 Austin Peay State University 900 Akebono 619 Josten's Printing & Publishing 600 Housing Units - County and City Housing Units -- City Total Occupied Occupied Occupied Occupancy Year Units Owner Units Renter Units Units Rate ,815 27,732 21,707 49, % **latest data from U.S. Bureau of the Census Occupied Housing Units - County and City 2010 Owner Units 27,732 Renter Units 21,707 Total Units 49,439 Montgomery County Owner Units 40,635 Renter Units 21,583 Total Units 62,218 Building Permits Issue - City City of Total Permits Year No. Value 1,616 $158,236,552 Statistical Data - City of Utilities Department of Electricity Residential 60,290 Commercial and Industrial 7, Total Customers 68,147 Kilowatt hours sold $1,487,849,968 Utility Sales $152,730,465 Gas Department Residential 22,544 Commercial and Industrial 3,363 Total Customers 25,907 Cubic Feet Sold 3,580,931 Utility Sales $19,102,895 Water and Sewer Department Residential 58,951 Commercial and Industrial 4,439 Total Customers 63,390 Gallons Pumped and Sold-Water Sales 4,290,239 Utility Sales $19,882,495 -Montgomery County Schools Year Enrollment ,500

City of Clarksville, TN

City of Clarksville, TN Long Term Debt Service Requirements - General Fund, 2013 Fiscal Years Principal Interest Total 2014 $6,799,950 $3,184,055 $9,984,005 2015 $6,777,000 $2,881,659 $9,658,659 2016 $7,706,000