Exhibit 6: Terminal Cash Flow - High Case
Pro forma Analysis of T18 Operations
Calendar year ending December 31
(in thousands)
The forecasts presented in this exhibit were prepared using information from the sources indicated and assumption provided by,or reviewed with and agreed to by,Port management,as described in the accompanying text inevitably,some of the assumptions used to develop the forecasts will not be realized and unanticipated events and circumstances may occur. Therefore,there are likely to be differences between the forecast and actual results,and those differences may be material.
(a) Before income driven taxes and operator corporate overhead.
VII. Series 1999 Financial Analysis
This section presents the financial analysis of T18 operating results for the term of the Bonds. The purpose of this financial analysis is to illustrate the ability of the Pledged Revenues to meet administrative and operating costs, working capital requirements, reserve fund deposits, and other financial requirements, including the debt service on the proposed Bonds.
A. Financing Plan
The total cost of the Program, which includes the cost of planning and design, permitting, land acquisition and relocation, dredging, construction of the container yards, intermodal yard,railroad yard and wharf/apron, and taxes, is estimated to be $356.4 million. Of this total, the Port is providing $205.8 million ("Port Improvements"). The remainder of the Program costs ($150.6 million) will be financed with proceeds from the Bonds ("Bond Improvements").
1. Estimated Project Costs
Table 13 summarizes the estimated costs associated with the expansion of T18.
Once construction associated with this capital program is completed, T18 will be considered "completed" and no further capital projects associated with T18 expansion and redevelopment are planned. The estimated value of T18 upon completion, including the net book value of existing land, improvements, and cranes, is anticipated to be approximately $400 million.
