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Relirrinary
<br /> $2,125,000
<br /> City of Elk River, Minnesota
<br /> Electric Revenue Refunding Bonds, Series 2014
<br /> Current Refunding of Series 2006A
<br /> Proof of Reserve Fund Requirement
<br /> Date Principal Interest Existing DVS TOTAL P+I
<br /> 08/01/2014 430,000.00 8,073.96 39,200.00 477,273.96
<br /> 08/01/2015 420,000.00 18,912.50 284,200.00 723,112.50
<br /> 08/01/2016 420,000.00 15,972.50 280,700.00 716,672.50
<br /> 08/01/2017 425,000.00 12,192.50 281,900.00 719,092.50
<br /> 08/01/2018 430,000.00 6,880.00 287,600.00 724,480.00
<br /> 08/01/2019 - - 287,800.00 287,800.00
<br /> 08/01/2020 - - 287,600.00 287,600.00
<br /> 08/01/2021 - - 291,900.00 291,900.00
<br /> 08/01/2022 - - 290,700.00 290,700.00
<br /> Total $2,125,000.00 $62,031.46 $2,331,600.00 $4,518,631.46
<br /> PROOF OF REEVE FUND
<br /> MAXIMUM PERIODIC DEBT SERVICE
<br /> 100%of the Maximum Periodic Debt Service 724,480.00
<br /> AVERAGE PERIODIC DEBT SERVICE
<br /> Total P+I 4,518,631.46
<br /> Bond Years(Delivery Date) 7.88
<br /> 125%of the Average Periodic Debt Service 716,484.90
<br /> PERCENT OF PAR
<br /> Total Par(Existing+New) 5,000,000.00
<br /> 10%of Par 500,000.00
<br />• RESERVE RE UIREAENr
<br /> Computed Requirement 212,500.00
<br /> Roof's Requirement 500,000.00
<br /> Portion of reserve requirement funded externally 287,500.00
<br /> Low est Requirement less external funding 212,500.00
<br /> Sows 2014 Re/20063 Rev I SINGLEPURPOSE 1 1/2/20/4 I 306 PM
<br /> Springsted Page7
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