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<br />FINAL - Results of Sale
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<br />City of Elk River
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<br /> $900,000 G.O. Improvement Refunding Bonds, Series 2000C
<br /> Existing
<br /> Date Principal Rate Interest P&I Debt Savings
<br /> 2/1/2001
<br /> 211/2002 125,000 4.400% 51,162.50 176,162.50 216,360 40, 198
<br /> 211/2003 135,000 4.450% 35,430.00 170,430.00 207,510 37,080
<br /> 2/1/2004 135,000 4.500% 29,422.50 164,422.50 203,360 38,938
<br /> 211/2005 130,000 4.550% 23,347.50 153,347.50 193,750 40,403
<br /> 211/2006 130,000 4.600% 17,432.50 147,432.50 184,063 36,630
<br /> 2/1/2007 125,000 4.650% 11,452.50 136,452.50 174,375 37,923
<br /> 2/1/2008 120,000 4.700% 5,640.00 125,640.00 164,688 39,048
<br /> TOTAL 900,000 173,887.50 1,073,887.50
<br />Dated 11/01/2000
<br />Delivery Date 11/0112000
<br />First Coupon Date 8/0112001
<br />Bond Year Dollars $3,785.00 Total savings 270,217.50
<br />Average Life 4.206 Years Present value of savings 219,928.59
<br />Average Coupon 4.59412% City cash contribution (181,406.62)
<br />Net Interest Cost (NIC) 4.85568%
<br />True Interest Cost (TIC) 4.88358%
<br /> Net present value savings $40,227.39
<br /> % of refunded principal 3.74%
<br /> % of refunding principal 4.47%
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<br />Ehlers & Associates, Inc.
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<br />10/23/2000
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<br />[lmpRefund]
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