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..7122-97 13: 02 FROM=SPRINGSTED INC ID=6122233093 PAGE 3/4
<br /> City of Elk River, Minnesota Prepared July 22, 1997
<br /> General Obligation Park Bonds, Series 1998 By SPRINGSTED Incorporated
<br /> S2,000,000 Issue Size
<br /> fated: 5- 1-1998
<br /> ture: 2- 1
<br /> First Interest: 8- 1-1998
<br /> Total
<br /> Year of Year of Principal 105%
<br /> Levy Mat. Principal Rates Interest & Interest of Total
<br /> (1) (2) (3) (4) (5) (6) (7)
<br /> 1997 1999 85,000 4.30% 77,252 162,252 170,365
<br /> 1998 2000 65,000 4.40% 99,347 164,347 172,564
<br /> 1999 2001 65,000 4.50% 96,487 161,487 169,561
<br /> 2000 2002 70,000 4.60% 93,562 163,562 171,740
<br /> 2001 2003 75,000 4.65% 90,342 165,342 173,609
<br /> 2002 2004 75,000 4.70% 86,854 161,854 169,947
<br /> 2003 2005 80,000 4.80% 83,329 163,329 171 ,495
<br /> 2004 2006 85,000 4.90% 79,489 164,489 172,713
<br /> 2005 2007 85,000 5.00% 75,324 160,324 168,340
<br /> 2006 2008 90,000 5.10% 71 ,074 161 ,074 169,128
<br /> 2007 2009 95,000 5.15% 66,484 161,484 169,558
<br /> 2008 2010 100,000 5.20% 61 ,591 161 ,591 169,671
<br /> 2009 2011 105,000 5.30% 56,391 161 ,391 169,461
<br /> 2010 2012 110,000 5.35% 50,826 160,826 168,867
<br /> 2011 2013 120,000 5.40% 44,941 164,941 173,188
<br /> 2012 2014 125,000 5.45% 38,461 163,461 171 ,634
<br /> 2013 2015 130,000 5.50% 31 ,648 161 ,648 169,730
<br /> 42014 2016 140,000 5.55% 24,498 164,498 172,723
<br /> 2015 2017 145,000 5.55% 16,728 161 ,728 169,814
<br /> 2016 2018 155,000 5.60% 8,680 163,680 171 ,864
<br /> TOTALS: 2,000,000 1,253,308 3,253,308 3,415,972
<br /> Bond Years: 23,455.00 Annual Interest: 1 ,253,308
<br /> Avg. Maturity: 11.73 Plus Discount: 36,000
<br /> Avg. Annual Rate: 5.343% Net Interest: 1,289,308
<br /> T.I.C. Rate: 5.537% N.I.C. Rate: 5.497%
<br /> Interest rates are estimates; changes may cause significant
<br /> alterations of this schedule.
<br /> The actual underwriter's discount bid may also vary.
<br /> III
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