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s:TUL--422-97 13 : 01 FROM: SPRINGSTED INC ID:6122233093 PAGE 2/4
<br /> City of Elk River, Minnesota
<br /> 411 General Obligation Park Bonds, Series 1998
<br /> 20 Year Schedule
<br /> Summary of G.O. Bond Issue Scenarios
<br /> •n•>.
<br /> ..aw:
<br /> Composition:
<br /> Net Proceeds $ 1,939,900 $ 1,975,900
<br /> Costs of Issuance 24,100 24,100
<br /> Underwriters Discount 36,000 $40,000
<br /> Total Bond Issue Size $ 2,000,000 S • 2,040,000
<br /> Debt Service Comparison:
<br /> Avg.Annual Levy @105% $170,799 $174,335
<br /> Tax Rate' 0.030% o
<br /> 0.031/o
<br /> Net Interest Cost $1,289,308 $1,320,663
<br /> True Interest Rate 5.537% 5.556%
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<br /> IM 'c 'si.42�1`. ..•4 t.'s`-1,7ic�
<br /> ��Z oeii � A�2F`.�C,� � � i. ital� � x '1 Z Y<".�'�+����i•Ry' a�
<br /> as ��. >�:�zcrs..�'
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<br /> S �tS is�. > #,`,� < `^ .�v�!itl�p/ �:?�`.s..� .?` �t,t!'3
<br /> g. .. iope +.`='u. 0,Yf: ,P)1,C 4130 V. 4.ity -r-4 ``w . .....rie�'^ie w;SS 04 1
<br /> • $50,000 $15 $16
<br /> $75,000 23 23
<br /> $100,000 30 31
<br /> $125,000 38 39
<br /> $150,000 45 47
<br /> $175,000 53 54
<br /> $200,000 60 62
<br /> $400,000 120 124
<br /> $600,000 180 186
<br /> $800,000 240 248
<br /> $1,000,000 300 310
<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 /> S
<br /> •
<br /> Prepared by Springsted Incorporated(7/22/97)
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