440901 HIGHLAND FALLS CSD                                                      
                                                                                    
                                                                                    
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             Amount Issued:      2,754,000   BLD                                    
 Date of Original Issuance:     31-Jul-90                                           
     __________________________________________________________________________     
                           New                    Alt./     Max.    Weighted        
 Bldg  Proj  Allowable   Constr.    Additions   Reconstr   Projec    Useful         
  .     .       Cost       Cost        Cost        Cost    t Life     Life          
     __________________________________________________________________________     
 0004  001      318,125           0          0     318,125  15.0   4,771,875        
 0005  002    2,039,785           0  1,491,604     548,181  18.5  37,736,023        
 0007  001      316,219           0          0     316,219  15.0   4,743,285        
___________________________________________________________________________         
              2,674,129                                           47,251,183        
____                   Blended Maximum Useful Life:         17.5                    
                             Original Term of Bond:         14.0                    
                      Selected Maximum Useful Life:         17.5                    
                       Period Prior to 1 July 2002:         11.0                    
              Sel. Remaining Term for Amortization:          6.5                    
             Principal Outstanding as of July 2002:      550,000                    
                             Assumed Interest Rate:       4.500%                    
      Debt Service for Amortization Year 6 of 6.5 :       98,534                    
                                      Bond Percent:      85.987%                    
   Aidable Debt Service for Amortization Year 6 of        84,726                    
                                                                                    
                                                                                    
Additional Costs Attributable to Refinancing                                        
____________________________________________                                        
  A. Total Amount of Refinancing Issued (SA-132A #7):                  646,350      
  B. Bond Percent:                                                     85.987%      
  C. Applicable Building Aid Ratio:                                      73.0%      
  D. State Share of Outstanding Principal (SA132-A #3 * B * C):        345,238      
  E. Amount of Original Principal Refinanced: (SA132-A # 4)            550,000      
  F. State Share Ratio: (D / E)                                          62.7%      
  G. Total Fixed Costs Aided at 100% (SA132-A # 13):                     4,400      
  H. Total Variable Costs of Refinancing (SA132-A # 23):                54,319      
  I. State Share of Variable Costs Aided at 100%:( H * F)               34,058      
  J. Total Principal Added(A - E - G - H):                              37,631      
  K. State Share of Additional Principal Aided at 100% (J * F):         23,595      
  L. Total Refinancing Costs Aided at 100% (G + I + K):                 62,053      
  M. Local Share of Variable Costs Aided at State Share (H - I):        20,261      
                                                                                    
Assumed Aidable Debt Service for Refinancing                                        
____________________________________________                                        
  Assumed Debt Service for Fixed Costs:                                    788      
  Assumed Debt Service for State Share of Variable Costs:                6,102      
  Assumed Debt Service for State Share of Additional Principal:          4,228      
  Assumed Debt Service for Local Share of Variable Costs: *              3,121      
 * After application of Bond Percent.                                               
                                                                                    
                                                                                    
                                                                                    
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             Amount Issued:        350,000   BLD                                    
 Date of Original Issuance:     08-Sep-94                                           
     __________________________________________________________________________     
                           New                    Alt./     Max.    Weighted        
 Bldg  Proj  Allowable   Constr.    Additions   Reconstr   Projec    Useful         
  .     .       Cost       Cost        Cost        Cost    t Life     Life          
     __________________________________________________________________________     
 0004  003       14,418           0          0      14,418  15.0     216,270        
 0004  004      442,942           0          0     442,942  15.0   6,644,130        
 0004  E03       95,462           0          0      95,462  15.0   1,431,930        
___________________________________________________________________________         
                552,822                                            8,292,330        
____                   Blended Maximum Useful Life:         15.0                    
                             Original Term of Bond:         10.0                    
                      Selected Maximum Useful Life:         15.0                    
                       Period Prior to 1 July 2002:          7.0                    
              Sel. Remaining Term for Amortization:          8.0                    
             Principal Outstanding as of July 2002:      135,000                    
                             Assumed Interest Rate:       4.500%                    
        Debt Service for Amortization Year 6 of 8 :       20,282                    
                                      Bond Percent:     100.000%                    
 Aidable Debt Service for Amortization Year 6 of 8        20,282                    
                                                                                    
                                                                                    
Additional Costs Attributable to Refinancing                                        
____________________________________________                                        
  A. Total Amount of Refinancing Issued (SA-132A #7):                  158,650      
  B. Bond Percent:                                                    100.000%      
  C. Applicable Building Aid Ratio:                                      73.0%      
  D. State Share of Outstanding Principal (SA132-A #3 * B * C):         98,550      
  E. Amount of Original Principal Refinanced: (SA132-A # 4)            135,000      
  F. State Share Ratio: (D / E)                                          73.0%      
  G. Total Fixed Costs Aided at 100% (SA132-A # 13):                     1,080      
  H. Total Variable Costs of Refinancing (SA132-A # 23):                13,334      
  I. State Share of Variable Costs Aided at 100%:( H * F)                9,734      
  J. Total Principal Added(A - E - G - H):                               9,236      
  K. State Share of Additional Principal Aided at 100% (J * F):          6,742      
  L. Total Refinancing Costs Aided at 100% (G + I + K):                 17,556      
  M. Local Share of Variable Costs Aided at State Share (H - I):         3,600      
                                                                                    
Assumed Aidable Debt Service for Refinancing                                        
____________________________________________                                        
  Assumed Debt Service for Fixed Costs:                                    162      
  Assumed Debt Service for State Share of Variable Costs:                1,462      
  Assumed Debt Service for State Share of Additional Principal:          1,012      
  Assumed Debt Service for Local Share of Variable Costs: *                540      
 * After application of Bond Percent.                                               
                                                                                    
                                                                                    
                                                                                    
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             Amount Issued:        500,000   BLD                                    
 Date of Original Issuance:     09-Sep-97                                           
     __________________________________________________________________________     
                           New                    Alt./     Max.    Weighted        
 Bldg  Proj  Allowable   Constr.    Additions   Reconstr   Projec    Useful         
  .     .       Cost       Cost        Cost        Cost    t Life     Life          
     __________________________________________________________________________     
 0004  007      365,000           0          0     365,000  15.0   5,475,000        
___________________________________________________________________________         
                365,000                                            5,475,000        
____                   Blended Maximum Useful Life:         15.0                    
                             Original Term of Bond:          9.0                    
                      Selected Maximum Useful Life:         15.0                    
                       Period Prior to 1 July 2002:          4.0                    
              Sel. Remaining Term for Amortization:         11.0                    
             Principal Outstanding as of July 2002:      310,000                    
                             Assumed Interest Rate:       4.500%                    
       Debt Service for Amortization Year 6 of 11 :       36,040                    
                                      Bond Percent:      73.000%                    
 Aidable Debt Service for Amortization Year 6 of 11       26,309                    
                                                                                    
                                                                                    
Additional Costs Attributable to Refinancing                                        
____________________________________________                                        
  A. Total Amount of Refinancing Issued (SA-132A #7):                  365,000      
  B. Bond Percent:                                                     73.000%      
  C. Applicable Building Aid Ratio:                                      73.0%      
  D. State Share of Outstanding Principal (SA132-A #3 * B * C):        165,199      
  E. Amount of Original Principal Refinanced: (SA132-A # 4)            310,000      
  F. State Share Ratio: (D / E)                                          53.2%      
  G. Total Fixed Costs Aided at 100% (SA132-A # 13):                     2,485      
  H. Total Variable Costs of Refinancing (SA132-A # 23):                30,677      
  I. State Share of Variable Costs Aided at 100%:( H * F)               16,320      
  J. Total Principal Added(A - E - G - H):                              21,838      
  K. State Share of Additional Principal Aided at 100% (J * F):         11,618      
  L. Total Refinancing Costs Aided at 100% (G + I + K):                 30,423      
  M. Local Share of Variable Costs Aided at State Share (H - I):        14,357      
                                                                                    
Assumed Aidable Debt Service for Refinancing                                        
____________________________________________                                        
  Assumed Debt Service for Fixed Costs:                                    288      
  Assumed Debt Service for State Share of Variable Costs:                1,898      
  Assumed Debt Service for State Share of Additional Principal:          1,350      
  Assumed Debt Service for Local Share of Variable Costs: *              1,219      
 * After application of Bond Percent.                                               
                                                                                    
                                                                                    
                                                                                    
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             Amount Issued:      3,526,104   BLD-10                                 
 Date of Original Issuance:     12-Nov-00                                           
     __________________________________________________________________________     
                           New                    Alt./     Max.    Weighted        
 Bldg  Proj  Allowable   Constr.    Additions   Reconstr   Projec    Useful         
  .     .       Cost       Cost        Cost        Cost    t Life     Life          
     __________________________________________________________________________     
 0005  004       11,505           0          0      11,505  15.0     172,575        
 0007  003       59,539           0          0      59,539  15.0     893,085        
 0008  007    2,802,812           0          0   2,802,812  15.0  42,042,180        
 0008  008      191,523           0          0     191,523  15.0   2,872,845        
___________________________________________________________________________         
              3,065,379                                           45,980,685        
____                   Blended Maximum Useful Life:         15.0                    
                             Original Term of Bond:         11.0                    
                      Selected Maximum Useful Life:         15.0                    
                       Period Prior to 1 July 2002:          1.0                    
              Sel. Remaining Term for Amortization:         14.0                    
             Principal Outstanding as of July 2002:    3,461,062                    
                             Assumed Interest Rate:       4.500%                    
       Debt Service for Amortization Year 6 of 14 :      335,898                    
                                      Bond Percent:      85.799%                    
 Aidable Debt Service for Amortization Year 6 of 14      288,197                    
                                                                                    
                                                                                    
                                                                                    
                                                                                    
                                                                                    
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             Amount Issued:     12,770,000   BLD-10                                 
 Date of Original Issuance:     12-Jul-01                                           
     __________________________________________________________________________     
                           New                    Alt./     Max.    Weighted        
 Bldg  Proj  Allowable   Constr.    Additions   Reconstr   Projec    Useful         
  .     .       Cost       Cost        Cost        Cost    t Life     Life          
     __________________________________________________________________________     
 0004  010    9,742,700           0  4,296,170   5,446,530  17.0 165,625,900        
 0008  006    2,920,000           0          0   2,920,000  15.0  43,800,000        
___________________________________________________________________________         
             12,662,700                                          209,425,900        
                                                                                    
                       Blended Maximum Useful Life:         16.5                    
                             Original Term of Bond:                                 
                      Selected Maximum Useful Life:         16.5                    
                       Period Prior to 1 July 2002:          2.0                    
              Sel. Remaining Term for Amortization:         14.5                    
             Principal Outstanding as of July 2002:   12,770,000                    
                             Assumed Interest Rate:       4.500%                    
     Debt Service for Amortization Year 6 of 14.5 :    1,208,574                    
                                      Bond Percent:      80.247%                    
   Aidable Debt Service for Amortization Year 6 of       969,844                    
                                                                                    
                                                                                    
                                                                                    
                                                                                    
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End of Report                                                                       
                                                                                    
                                                                             

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