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<br /> SAN MARCOS MUNICIPAL UTILITY DI STRICT NO.1 <br /> EXHIBIT D <br /> Surcharge calculations based on: i(l+i)n <br /> A=P <br /> (1+i)n-1 <br /> A <br /> Monthly surcharge per LUE = <br /> 12 X No. of LUEs <br /> A = T-otal yearly debt service assuming full buildout <br /> i = Average annual effective bond interest rate (assume 10%) <br /> n = Number of years in debt retirement period, exclusive of <br /> two years of capi talized interest (assume 23 years) <br /> P = Total proj ected bond amount including all construction, <br /> engineering, contingencies, and non-construction costs <br /> (assume the amount requested in the final engineering <br /> report submitted to the Texas Water Commission in <br /> support of the creation of the Di strict) <br /> LUEs = Living Uni t Equivalents calculated in the manner <br /> described in the Service Plans (assume 1997 LUEs) <br /> A: SMMUD1. 6 <br />