|
Preliminary
<br />
<br />$1,460,000
<br />
<br />City of Elk River, Minnesota
<br />Electric Revenue Refunding Bonds, Series 2016B
<br />
<br />Current Refunding of Series 2007A
<br />
<br />Debt Service Comparison
<br />DateTotal P+IDSRNet New D/SOld Net D/SSavings
<br />02/01/2017245,591.49(399.43)245,192.06284,962.5039,770.44
<br />02/01/2018252,122.50(730.00)251,392.50290,962.5039,570.00
<br />02/01/2019254,772.50(730.00)254,042.50291,362.5037,320.00
<br />02/01/2020256,892.50(730.00)256,162.50291,362.5035,200.00
<br />02/01/2021258,462.50(730.00)257,732.50295,962.5038,230.00
<br />02/01/2022259,462.50(146,730.00)112,732.507,462.50(105,270.00)
<br />Total$1,527,303.99(150,049.43)$1,377,254.56$1,462,075.00$84,820.44
<br />PV Analysis Summary (Net to Net)
<br />
<br />Net FV Cashflow Savings................................................................................................................................................................................
<br />.84,820.44
<br />Gross PV Debt Service Savings..........................................................................................................................................................................
<br />.221,569.08
<br />Effects of changes in DSR investments..................................................................................................................................................................
<br />.(134,754.96)
<br />
<br />Net PV Cashflow Savings @ 1.485%(Bond Yield)..........................................................................................................................................................
<br />.86,814.12
<br />
<br />Transfers from Prior Issue Debt Service Fund...........................................................................................................................................................
<br />.(30,700.00)
<br />Contingency or Rounding Amount.........................................................................................................................................................................
<br />.2,163.33
<br />Net Future Value Benefit...............................................................................................................................................................................
<br />.$56,283.77
<br />Net Present Value Benefit..............................................................................................................................................................................
<br />.$58,277.45
<br />
<br />Net PV Benefit / $216,704.78 PV Refunded Interest......................................................................................................................................................
<br />.26.893%
<br />Net PV Benefit / $1,681,569.08 PV Refunded Debt Service................................................................................................................................................
<br />.3.466%
<br />Net PV Benefit / $1,535,000 Refunded Principal........................................................................................................................................................
<br />.3.797%
<br />Net PV Benefit / $1,460,000 Refunding Principal.......................................................................................................................................................
<br />.3.992%
<br />
<br />Refunding Bond Information
<br />
<br />Refunding Dated Date...................................................................................................................................................................................
<br />.7/14/2016
<br />Refunding Delivery Date................................................................................................................................................................................
<br />.7/14/2016
<br />Series 2016B Ref 2007A Re | SINGLE PURPOSE | 4/29/2016 | 11:53 AM
<br />Page 11
<br />
|