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<br />FINAL - Results of Sale
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<br />City of Elk River
<br />$510,000 Taxable Tax Increment Refunding Bonds, Series 20000
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<br /> Existing
<br /> Date Principal Rate Interest P&I Debt Savings
<br /> 2/1/2001
<br /> 2/1/2002 50,000 6.700% 44,671.88 94,671.88 97,807 3,136
<br /> 2/1/2003 60,000 6.800% 32,387.50 92,387.50 98,127 5,740
<br /> 2/1/2004 65,000 6.900% 28,307.50 93,307.50 97,952 4,645
<br /> 2/1/2005 75,000 6.950% 23,822.50 98,822.50 102,290 3,467
<br /> 2/1/2006 70,000 7.000% 18,610.00 88,610.00 95,660 7,050
<br /> 2/1/2007 80,000 7.100% 13,710.00 93,710.00 99,000 5,290
<br /> 2/1/2008 35,000 7.200% 8,030.00 43,030.00 46,385 3,355
<br /> 2/1/2009 40,000 7.300% 5,510.00 45,510.00 47,920 2,410
<br /> 2/1/2010 35,000 7.400% 2,590.00 37,590.00 43,960 6,370
<br />TOTAL 510,000 177 ,639.38 687,639.38
<br />Dated 11/01/2000
<br />Delivery Date 11/01/2000
<br />First Coupon Date 8/01/2001
<br />Bond Year Dollars $2,502.50 Total savings 41,463.12
<br />Average Life 4.907 Years Present value of savings 28,809.12
<br />Average Coupon 7.09848% Accrued interest 1,489.06
<br />Net Interest Cost (NIC) 7.34303% Net present value savings $30,298.18
<br />True Interest Cost (TIC) 7.37946% % of refunded principal 6.06%
<br /> % of refunding principal 5.94%
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<br />Ehlers & Associates, Inc.
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<br />10/23/2000
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<br />[TIFRefund]
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