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PLAN OF FINANCING <br /> <br />The 2004 Project <br /> <br /> The City has engaged Trivers Associates Architects, St. Louis, Missouri, to design the improvements <br />to City Hall, which will include the acquisition of a new boiler, electrical upgrades and the replacement of <br />windows. <br /> <br /> The City has engaged AAIC Inc., St. Louis, Missouri, to design the improvements to the City's fire <br />stations. The improvements to the fire station located adjacent to City Hall will include the construction of <br />additional office space and the rehabilitation of living quarters and concrete floors. A second fire station will <br />be completely rehabilitated. The improvements to the second fire station will include (a) the construction of an <br />addition to the apparatus bay, (b) renovating, improving, furnishing and equipping the existing apparatus bay, <br />kitchen, bathrooms, dining room and workout room, and (c) improving the landscaping, parking facilities and <br />accessibility to the fire station. <br /> <br /> The police station upgrade will include a new console for communications and renovations to the jail <br />cells. <br /> <br /> The City has engaged the architectural firm of Jacobs, St. Louis, Missouri, to design the expansion <br />and renovation of the existing fitness center in the City's Heman Park, which will result in the doubling of its <br />size and the installation of new fitness equipment. Construction work on the fitness center is expected to be <br />completed in April 2005. <br /> <br />The Leased Propert3, <br /> <br /> The Leased Property consists of four separate tracts of real estate upon which the City's parking <br />garage, police station, fire stations and a portion of the City's Heman Park are located, including all <br />improvements now or hereafter situated thereon. <br /> <br />The parking garage is located in the City's "Loop Business District" and is a three-story, 120- <br />space parking structure with 6,000 square feet of retail shopping space located on the ground <br />level. The parking garage has an insured value of $2,280,880. <br /> <br />The City has a police/fire station located adjacent to the City's City Hall, which was built in <br />1904. It is a three-story building made of concrete and brick construction and contains <br />approximately 32,750 square feet. The police station is the sole station of the City's police <br />department, which department has 120 employees. The police/fire station has an insured <br />value of $2,842,385. <br /> <br />In addition to the fire station mentioned above, the City has a second stand-alone fire station. <br />Both fire stations comprise the City's entire fire department. The stand-alone fire station was <br />built in 1934 and is a two-story building made of brick and limestone construction and <br />contains approximately 6,260 square feet. The insured value of the stand-alone fire station is <br />$551,919. <br /> <br />The portion of the Leased Property located in the City's Heman Park is an approximately 5.29 <br />acre tract of land on which a swimming pool, fitness center and other recreational facilities <br />are situated. Heman Park in its entirety encompasses approximately 85.26 acres. The pool <br />has an insured value of $1,600,000 and the fitness center has an insured value of $1,900,000. <br /> <br />-10- <br /> <br /> <br />