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City of Elk River HRA
<br />Proposed Schedule of Lease Revenue Bonds
<br />
<br />$2,295,000 Lease Revenue Bds, Ser 1997
<br />
<br /> Date Principal Rate Interest
<br />
<br />2/1/2002 175,000 4.75%
<br />2/1/2003 185,000 4.75%
<br />2/1/2004 195,000 4.75%
<br />2/1/2005 205,000 4.75%
<br />2/1/2006 220,000 4.80%
<br />21112007 230,000 4.85%
<br />2/1/2008 245,000 5.00%
<br />2/1/2009 260,000 5.00%
<br />2/112010 280,000 5.00%
<br />2/1/2011 130,000 5.00%
<br />2/1/2012
<br />2/1/2013
<br />2/1/2014
<br />2/1/2015
<br />2/1/2016
<br />2/1/2017
<br />2/1/2018
<br />2/1/2019
<br />2/1/2020
<br />2/1/2021
<br />2/1/2022
<br />21112023
<br />
<br /> DSR Annual
<br /> Eamln~e 4 P &l
<br />
<br />103,565 (3,604) 274,961
<br />95,253 (3,604) 276,648
<br />86,465 (3,604) 277,861
<br />77,203 (3,604) 278,598
<br />67,465 (3,604) 283,861
<br />56,905 (3,604) 283,301
<br />45,750 (3,604) 287,146
<br />33,500 (3,604) 289,896
<br />20,500 (3,604) 296,896
<br />6,500 (183,827) (47,327)
<br />
<br />2,125,000 593,105 2,501,837
<br />
<br />Series 91112002A Lease Revenue Bonds
<br />
<br />Par Amount of Bonds
<br />Planned Equity Contribution
<br />
<br />TOTAL SOURCES
<br />
<br />Total UnderwriteCs Discount (1.30%)
<br />Costs of Issuance/Title Insurance
<br />Gross Bond Insurance Premium (100.0 bp)
<br />Deposit to Capitalized Interest (ClF) Fund
<br />Deposit to Project Construction Fund
<br />DSRF Surety Bond Fee
<br />Rounding Amount
<br />TOTAL USES
<br />
<br />Principal Rate Interest
<br />
<br /> Cap
<br />Interest
<br />
<br />8,000,000
<br />8,000,000
<br />
<br />104,000
<br />80,000
<br />129,485
<br />154,281
<br />7,500,000
<br />26,970
<br />5,264
<br />
<br />8,000,000
<br />
<br />Annual
<br />P &l
<br />
<br />Series 911/2002B Lease Revenue Bonds
<br />
<br />Par Amount of Bonds
<br />DSR Balance Issue 1997
<br />Equity Contribution Capitarized Interest
<br />TOTAL SOURCES
<br />
<br />Total Underwdter's Discount (1.75%)
<br />Costs of Issuance
<br />Deposit to Debt Service Reserve Fund (DSRF)
<br />Deposit to Capitalized Interest (CIF) Fund
<br />Deposit to Project Construction Fund
<br />Rounding Amount
<br />
<br />TOTAL USES
<br />Principal Rate Interest
<br />
<br /> DSR
<br />Eamlngs 4
<br />
<br /> 155,886
<br />265,000 2.35% 374,128
<br />270,000 3,15% 367,900
<br />280,000 3.50% 359,395
<br />290,000 3.80% 349,595
<br />300,000 4.00% 338,575
<br />315,000 4.20% 326,575
<br />325,000 4.30% 313,345
<br />340,000 4.40% 299,370
<br />355,000 4.50% 284,410
<br />370,000 4.65% 268,435
<br />390,000 4.75% 251,230
<br />410,000 4.85% 232,705
<br />425,000 4.95% 212,820
<br />450,000 5.05% 191,783
<br />470,000 5.10% 169,058
<br />495,000 5.15% 145,088
<br />520,000 5.20% 119,595
<br />545,000 5.35% 92,555
<br />575,000 5.35% 63,398
<br />610,000 5.35% 32,635
<br />
<br />(155,886)
<br />
<br />639,128
<br />637,900
<br />639,395
<br />639,595
<br />638,575
<br />641,575
<br />638,345
<br />639,370
<br />639,410
<br />638,435
<br />641,230
<br />642,705
<br />637,820
<br />641,783
<br />639,058
<br />640,088
<br />639,595
<br />637,555
<br />638,398
<br />642,635
<br />
<br /> 35,930 (1,167)
<br />55,000 2.75% 86,233 (2,800)
<br />55,000 3.55% 84,720 (2,800)
<br />60,000 3.90% 82,768 (2,800)
<br />60,000 4.20% 80,428 (2,800)
<br />60,000 4.40% 77,908 (2,800)
<br />65,000 4.60% 75,268 (2,800)
<br />70,000 4.70% 72,278 (2,800)
<br />70,000 4.80% 68,988 (2,800)
<br />75,000 4.90% 65,628 (2,800)
<br />80,000 5.05% 61,953 (2,800)
<br />80,000 5.15% 57,913 (2,800)
<br />85,000 5.25% 53,793 (2,800)
<br />90,000 5.35% 49,330 (2,800)
<br />95,000 5.45% 44,515 (2,800)
<br />100,000 5.50% 39,338 (2,800)
<br />105,000 5.55% 33,838 (2,800)
<br />110,000 5.60% 28,010 (2,800)
<br />120,000 5.75% 21,850 (2,800)
<br />125,000 5.75% 14,950 (2,800)
<br />135,000 5.75% 7,763 (142,800)
<br />
<br />8,000,000
<br />
<br />4,948,479 (155,8861 12,792,593 1,695,000
<br />
<br />1,143,395 (197,167)
<br />
<br /> Cap
<br />Interest
<br />
<br />(35,930)
<br />(35,930)
<br />
<br />(71,860)
<br />
<br />1,695,000
<br /> 229,500 3
<br /> 24,500
<br />1,949,000
<br />
<br />29,663
<br />35,000
<br />320,223
<br />70,681
<br />1,492,143
<br />1,290
<br />
<br />1,949,000
<br />
<br />Annual
<br />P &l
<br />
<br /> (1,167)
<br />102,502
<br />136,920
<br />139,968
<br />137,628
<br />135,108
<br />137,468
<br />139,478
<br />136,188
<br />137,828
<br />139,153
<br />135,113
<br />135,993
<br />136,530
<br />136,715
<br />136,538
<br />136,038
<br />135,210
<br />139,050
<br />137,150
<br /> (38)
<br />
<br />2,569,368
<br />
<br />Notes:
<br />
<br />For 2002A interest due 211/2003 is paid using Capitalized Interest.
<br />
<br />For 2002B Capitalized Interest is equal to 10 months (through 7/1/2003) interest.
<br />
<br />New DSR (Series '97 & 2002B combined) is estimated at $320,223. Ser 97 current
<br />DeR requirement is $229,500.
<br />
<br />4 DSR investment earnings are estimated at 2.00%
<br />
<br /> Construction Fund investment earnings are estimated at 2.00%
<br />
<br />Construction Disbursement Schedule, Series 2002B
<br />
<br />Date
<br />
<br />Rate Int Earnings Disbrsmnt
<br />
<br />1/0/1900 200,000 2.00% 200,000
<br />1/0/1900 167,855 2.00% 2,145 170,000
<br />1/0/1900 173,134 2.00% 1,866 175,000
<br />1/0/1900 273,421 2.00% 1,579 275,000
<br />1/0/1900 223,875 2.00% 1,125 225,000
<br />1/0/1900 219,247 2.00% 753 220,000
<br />1/0/1900 234,611 2.00% 389 235,000
<br />
<br />1,492,143
<br />
<br />7,857 1,500,000
<br />
<br />Prepared by Ehlers & Associates. Inc
<br />
<br />8/6~2002
<br />
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