Laserfiche WebLink
Preliminary <br /> <br />$1,460,000 <br />City of Elk River, Minnesota <br /> <br />Electric Revenue Refunding Bonds, Series 2016B <br />Current Refunding of Series 2007A <br />Preliminary Feasibility Summary <br /> Dated 07/14/2016 | Delivered 07/14/2016 <br />Sources Of Funds <br />Par Amount of Bonds.................................................................................................................................................................................... <br />.$1,460,000.00 <br />Transfers from Prior Issue DSR Funds................................................................................................................................................................... <br />.287,500.00 <br />Transfers from Prior Issue Debt Service Funds.......................................................................................................................................................... <br />.30,700.00 <br />Total Sources.......................................................................................................................................................................................... <br />.$1,778,200.00 <br /> <br />Uses Of Funds <br />Deposit to Current Refunding Fund...................................................................................................................................................................... <br />.1,570,816.67 <br />Deposit to Debt Service Reserve Fund (DSRF)............................................................................................................................................................ <br />.146,000.00 <br />Costs of Issuance...................................................................................................................................................................................... <br />.49,000.00 <br />Total Underwriter's Discount (0.700%)................................................................................................................................................................. <br />.10,220.00 <br />Rounding Amount........................................................................................................................................................................................ <br />.2,163.33 <br />Total Uses............................................................................................................................................................................................. <br />.$1,778,200.00 <br /> <br /> <br />ISSUES REFUNDED AND CALL INFORMATION <br />Prior Issue Call Price................................................................................................................................................................................. <br />.100.000% <br />Prior Issue Call Date.................................................................................................................................................................................. <br />.9/01/2016 <br /> <br /> <br />SAVINGS INFORMATION <br />Net Future Value Benefit............................................................................................................................................................................... <br />.$56,283.77 <br />Net Present Value Benefit.............................................................................................................................................................................. <br />.$58,277.45 <br />Net PV Benefit / $1,681,569.08 PV Refunded Debt Service................................................................................................................................................ <br />.3.466% <br /> <br /> <br />BOND STATISTICS <br />Average Life........................................................................................................................................................................................... <br />.3.099 Years <br />Average Coupon......................................................................................................................................................................................... <br />.1.4877280% <br />Net Interest Cost (NIC)................................................................................................................................................................................ <br />.1.7136371% <br />True Interest Cost (TIC)............................................................................................................................................................................... <br />.1.7194062% <br /> <br /> <br /> <br /> <br />Series 2016B Ref 2007A Re | SINGLE PURPOSE | 4/29/2016 | 11:53 AM <br />Page 9 <br />