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Preliminary
<br /> $2,125,000
<br /> City of Elk River, Minnesota
<br /> Electric Revenue Refunding Bonds, Series 2014
<br /> Current Refunding of Series 2006A
<br /> Debt Service Comparison
<br /> Date Total P+I DSR Net New D/S Old Net D/S Savings
<br /> 08/01/2014 438,073.96 (203.62) 437,870.34 275,861.87 (162,008.47)
<br /> 08/01/2015 438,912.50 (531.26) 438,381.24 318,381.24 (120,000.00)
<br /> 08/01/2016 435,972.50 (531.26) 435,441.24 319,561.24 (115,880.00)
<br /> 08/01/2017 437,192.50 (531.26) 436,661.24 320,253.74 (116,407.50)
<br /> 08/01/2018 436,880.00 (213,031.26) 223,848.74 320,316.24 96,467.50
<br /> 08/01/2019 - - 324,866.24 324,866.24
<br /> 08/01/2020 323,701.24 323,701.24
<br /> 08/01/2021 (32,798.76) (32,798.76)
<br /> Total $2,187,031.46 (214,828.66) $1,972,202.80 $2,170,143.05 $197,940.25
<br /> PV Analysis Summary(Net to Net)
<br /> Net FV Cashflow Savings............................................................................................................................... 197,940.25
<br /> Gross P\/Debt Service Savings..................................................................................................................... 293,756.52
<br /> Effects of changes in DSR investnents......................................................................................................... (131,305.99)
<br /> Net PV Cashflow Savings @ 1.221%(Bond Yield)........................................................................................ 162,450.53
<br /> Contingency or Rounding Amount................................................................................................................... 4,281.87
<br /> NetFuture Value Benefit................................................................................................................................. $202,222.12
<br /> Net Present Value Benefit............................................................................................................................... $166,732.40
<br /> Net PJ Benefit/$344,140.56 P\/Refunded Interest....................................................................................... 48.449%
<br /> Net P\/Benefit/$2,418,756.52 P\/Refunded Debt Service........................................................................... 6.893%
<br /> Net P\/Benefit/ $2,180,000 Refunded Principal............................................................................................ 7.648%
<br /> Net P\/Benefit/ $2,125,000 Refunding Principal........................................................................................... 7.846%
<br /> Refunding Bond Information
<br /> Refunding Dated Date..................................................................................................................................... 3/13/2014
<br /> Refunding Delivery Date.................................................................................................................................. 3/13/2014
<br /> Series 2014 Ref20064 Reis I SINGLEPURPOSE 1 1/212014 1 3.06 PM
<br /> 5pringsted Page
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