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City of Elk River HRA
<br />Proposed Schedule of Lease Revenue Bonds
<br />
<br />2/1/2002
<br />211/2003
<br />2/1/2004
<br />2/1/2005
<br />2/1/2006
<br />2/1/2007
<br />2/1/2008
<br />2/1/2009
<br />2/1/2010
<br />2/1/2011
<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 />2/1/2023
<br />
<br />$2,295,000 Lease Revenue Bds, Ser 1997
<br />
<br /> DSR
<br />Date Principal Rate Interest Earntnvs 4
<br /> 175,000 4.75% 103,565 (3,604)
<br /> 185,000 4.75% 95,253 (3,604)
<br /> 195,000 4.75% 86,465 (3,604)
<br /> 205,000 4.75% 77,203 (3,604)
<br /> 220,000 480% 67,465 (3,604)
<br /> 230,000 4.85% 56,905 (3,604)
<br /> 245,000 5.00% 45,750 (3,604)
<br /> 260,000 5.00% 33,500 (3,604)
<br /> 280,000 5.00% 20,500 (3,604)
<br /> 130,000 5.00% 6,500 (183,827)
<br />
<br />Series 911/2002A Lease Revenue Bonds
<br />
<br />Annual
<br />P &l
<br />
<br /> 274,961
<br /> 276,648
<br /> 277,861
<br /> 278,598
<br /> 283,861
<br /> 283,301
<br /> 287,146
<br /> 289,896
<br /> 296,896
<br /> (47,327)
<br />
<br />Par Amount of Bonds
<br />Planned Equity Contribution
<br />
<br />TOTAL SOURCES
<br />
<br />Total Underwdter's Discount (1.30%)
<br />Costs of Issuance/Title Insurance
<br />Gross Bond Insurance Premium (100.0 bp)
<br />Deposit to Capitalized Interest (CIF) 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 9/1/2002B Lease Revenue Bonds
<br />
<br />Par Amount of Bonds
<br />DSR Balance Issue 1997
<br />Equity Contribution Capitalized 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 (ClF) Fund
<br />Deposit to Project Construction Fund
<br />Rounding Amount
<br />
<br />1,695,000
<br />229,500
<br />24,500
<br />1,949,000
<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 />3
<br />
<br /> 29,663
<br /> 35,000
<br /> 320,223
<br /> 70,681 3
<br />1,492,143
<br /> 1,290
<br />
<br />TOTAL USES 1,949,000
<br />
<br /> DSR Cap Annual
<br />PHnclpal Rate Interest Earnings 4 Interest P & I
<br />
<br />(1,167) (35,930) (1,167)
<br />(2,800) (35,930) 102,502
<br />(2,800) 136,920
<br />(2,800) 139,968
<br />(2,800) 137,628
<br />(2,800) 135,108
<br />(2,800) 137,468
<br />(2,800) 139,478
<br />(2,800) 136,188
<br />(2,800) 137,828
<br />(2,800) 139,153
<br />(2,800) 135,113
<br />(2,800) 135,993
<br />(2,800) 136,530
<br />(2,800} 136,715
<br />(2,800) 136,538
<br />(2,800) 136,038
<br />(2,800) 135,210
<br />(2,800) 139,050
<br />(2,800) 137,150
<br />(142,800) (38)
<br />
<br /> 35,930
<br />55,000 2.75% 86,233
<br />55,000 3.55% 84,720
<br />60,000 3.90% 82,768
<br />60,000 4.20% 80,428
<br />60,000 4.40% 77,908
<br />65,000 4.60% 75,268
<br />70,000 4.70% 72,278
<br />70,000 4.80% 68,988
<br />75,000 4.90% 65,628
<br />80,000 5.05% 61,953
<br />80,000 5.15% 57,913
<br />85,000 5.25% 53,793
<br />90,000 5.35% 49,330
<br />95,000 5.45% 44,515
<br />100,000 5.50% 39,338
<br />105,000 5.55% 33,838
<br />110,000 5.60% 28,010
<br />120,000 5.75% 21,850
<br />125,000 5.75% 14,950
<br />135,000 5.75% 7,763
<br />
<br />2,125,000 593,105
<br />
<br />2,501,837 8,000,000
<br />
<br />Notes:
<br />
<br />For 2002A interest due 2/1/2003 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. Set 97 current
<br />DSR requirement is $229,500.
<br />
<br />4 o
<br /> DSR investment earnings are estimated at 2.00 '~
<br /> Construction Fund investment earnings are estimated at 2.00%
<br />
<br />4,948,479
<br />
<br />(155,886)
<br />
<br />12,792,593
<br />
<br />1,695,000
<br />
<br />1,143,395 (197,167) (71,860) 2,569,368
<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, lnc 8/6/2002
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