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JUL-14-97 15 : 38 FROM:SPR I NGSTED INC ID:9122233093 PAGE 4/4
<br /> City of Elk River, Minnesota
<br /> General Obligation Park Bonds, Series 1998
<br /> 0 $3,000,000 Net Proceeds
<br /> Summary of G.O. Bond Issue Scenarios
<br /> T:a".:-:,arryq-'iil 'n. w,: i ran I! I y ,t,f`Sift� ,,,p ire • 11 @! ,tl
<br /> Composition:
<br /> Net Proceeds $ 3,000,000 $ 3,000,000 $ 3,000,000
<br /> Costs of Issuance 28,100 28,100 28,100
<br /> Underwriters Discount 30,550 42,980 55,440
<br /> Less: Rounding (3,650) (1,080) (3,540)
<br /> Total Bond Issue Size $ 3,055,000 $ 3,070,000 $ 3,080,000
<br /> Debt Service Comparison:
<br /> Avg.Annual Levy @105% $407,389 $308,999 $263,276
<br /> Tax Rate* 0.073% 0.055% 0.047%
<br /> Total Interest Cost $855,411 $1,387,259 $1,990,221
<br /> True Interest Rate 5.056% 5.322% 5.537%
<br /> �{};}�+7�j r 'i>i: t Y;• , ryg�g}{p �. p 7 �}{v , ' T�}�ii. }h r ),���n;i(t}' ;" { r ,� ,�I 1:141,1:,, 1 ,s i,a t, i.•t
<br /> FF '... l ���� T1 ���eFitE' tS.... '". Ykii-ti .ui,'itiI' r �, 4f. ` .�, n��h!, '1#!.. r c . l "SIi� 3 $.:n. , l�i"'"^p i...r
<br /> $r ,p i��ri .'.• r' d , AU t"t•r{ u:, 'f t' P• . ;u : h�4 r thl ,^r
<br /> 'i *wimp i": i,.mt ,VA ,is + a7inY. !t, 1 ,0!`� t a t ,O -r; 1 : t t1A:Pfi� :hi 41 tik ilia r„i N,7,1
<br /> �., ,.;t :�, ! �,, t it:»alt 1' ' {{,9i t li! • um,.",t ,« r ..„ i .,4.i- .. �itr l , , "tl'ln�
<br /> 1i'. �4islia: r 1 � r..:r { Y�� n t » y1 ,tr.xi3F'- rt�+t 'hii S`.'Cir°fa, er i (t���
<br /> r u i r c. • `�, in,ra'k:at -n'- ( H1,1116 N N i"021011 'k 9 - 4 fW 1 "S-I.
<br /> �.r1 ,;l}r 41 r'.. ... 4,54,44.1R4144.5 Fg , , i s l k Al. 1111.1 i1ir 4' �r IOW'"`' tl ,; '.
<br /> n t o r r &la uuwK !i�4��j�y 3.. �I t r t:tit 2:„,c„..„4. ,...
<br /> n..
<br /> ,� � .:... ,.»....... "�a tts"'ioi hi s ,,.t,.I 3% i7 8i l, !: 1'iit' - .. rsd{ yy a,� Hof �._t_ i,..i
<br /> .`'.. : i !(71.SI v .'Fi'.X.'al.�'r�.i•�.I�.:_^w.��� 'E,� ..it. eltasi Pttt�i!a`. f�ttRseva �'nliitM''','rara » hail'tTl�o i so... ii nw a '��',emP
<br /> $50,000 $36 $28 $23
<br /> $75,000 54 41 35
<br /> $100,000 73 55 47
<br /> $125,000 91 69 59
<br /> $150,000 109 83 70
<br /> $175,000 127 96 82
<br /> $200,000 145 110 94
<br /> $400,000 290 220 188
<br /> $600,000 435 330 281
<br /> $800,000 580 440 375
<br /> $1,000,000 726 550 469
<br /> *Tax rate is calculated by dividing the average annual levy for each issue by the City's referendum market value of
<br /> $561,503,703.
<br /> Please Note-
<br /> -Assumes a 1997 levy and a spring 1998 sale.
<br /> -Interest rates used in the debt service schedules are estimates and changes may cause
<br /> significant alterations to the above information.
<br /> •
<br /> Prepared by: Springsted Incorporated (7/14/97)
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