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09/10/98 16:12 FAX 6122233002 SPRINGSTED INC. ~003/003 <br /> <br /> City of Elk River, Minnesota <br />$3,950,000 General Obligation Park Bonds, Series 1999 <br /> 20 Year Schedule <br /> <br />Calculation of Net Proceeds for Project Costs <br /> <br />Total Bond Issue (a) <br />Less: Costs of Issuance <br />Less: Allowance for Discount Bidding <br /> <br />Net Proceeds for Project Costs <br /> <br />$4,015,000 <br /> (30,505) <br /> (65.000) <br /> <br />$3,919,495 <br /> <br />Estimated <br /> Market <br /> Value <br /> <br /> $50,000 <br /> 75,000 <br />110,000 <br />125,000 <br />150,000 <br />175,000 <br />200,000 <br />400,000' <br />600,000 <br />800,000 <br />1,000,000 <br /> <br />Tax <br />Rate Dollars <br />Applied (b) of Tax <br />0.047% Increase <br /> <br />0.047% $24 <br />0.047% 36 <br />0.047% 52 <br />0.047% 59 <br />0.047% 71 <br />0.047% 83 <br />0.047% 95 <br />0.047% 190 <br />0.047% 285 <br />0.047% 380 <br />0.047% 475 <br /> <br />(a) Principal amount of the bonds is the referendum ballot question of <br />$3,950,000 plus the allowance for discount bidding of $65,000. <br /> <br />(b) Tax rate equal to the estimated average levy of $336,090 (including the 5% <br />overlevy) divided by the City's 1998/99 referendum market value of <br />$708,013,324. <br /> <br />· Changes in interest cafes, ~iming or size of the bond issue may cause <br />significant alterations of this information. <br /> <br />Prepared by: Springsted Incorporated (9/10/98) Elkpark.xls <br /> <br /> <br />