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Page 7
<br />
<br />$10,000,000
<br />City of Elk River, Minnesota
<br />Electric Revenue Bonds, Series 2018A
<br />Debt Service Schedule
<br />Date Principal Coupon Interest Total P+I Fiscal Total
<br />09/26/2018 -----
<br />02/01/2019 --128,146.70 128,146.70 -
<br />08/01/2019 260,000.00 2.150%184,531.25 444,531.25 572,677.95
<br />02/01/2020 --181,736.25 181,736.25 -
<br />08/01/2020 210,000.00 2.300%181,736.25 391,736.25 573,472.50
<br />02/01/2021 --179,321.25 179,321.25 -
<br />08/01/2021 210,000.00 2.450%179,321.25 389,321.25 568,642.50
<br />02/01/2022 --176,748.75 176,748.75 -
<br />08/01/2022 215,000.00 2.550%176,748.75 391,748.75 568,497.50
<br />02/01/2023 --174,007.50 174,007.50 -
<br />08/01/2023 225,000.00 2.650%174,007.50 399,007.50 573,015.00
<br />02/01/2024 --171,026.25 171,026.25 -
<br />08/01/2024 230,000.00 2.800%171,026.25 401,026.25 572,052.50
<br />02/01/2025 --167,806.25 167,806.25 -
<br />08/01/2025 235,000.00 2.900%167,806.25 402,806.25 570,612.50
<br />02/01/2026 --164,398.75 164,398.75 -
<br />08/01/2026 240,000.00 3.000%164,398.75 404,398.75 568,797.50
<br />02/01/2027 --160,798.75 160,798.75 -
<br />08/01/2027 250,000.00 3.100%160,798.75 410,798.75 571,597.50
<br />02/01/2028 --156,923.75 156,923.75 -
<br />08/01/2028 255,000.00 3.150%156,923.75 411,923.75 568,847.50
<br />02/01/2029 --152,907.50 152,907.50 -
<br />08/01/2029 265,000.00 3.200%152,907.50 417,907.50 570,815.00
<br />02/01/2030 --148,667.50 148,667.50 -
<br />08/01/2030 275,000.00 3.300%148,667.50 423,667.50 572,335.00
<br />02/01/2031 --144,130.00 144,130.00 -
<br />08/01/2031 285,000.00 3.400%144,130.00 429,130.00 573,260.00
<br />02/01/2032 --139,285.00 139,285.00 -
<br />08/01/2032 295,000.00 3.450%139,285.00 434,285.00 573,570.00
<br />02/01/2033 --134,196.25 134,196.25 -
<br />08/01/2033 305,000.00 3.550%134,196.25 439,196.25 573,392.50
<br />02/01/2034 --128,782.50 128,782.50 -
<br />08/01/2034 315,000.00 3.600%128,782.50 443,782.50 572,565.00
<br />02/01/2035 --123,112.50 123,112.50 -
<br />08/01/2035 325,000.00 3.700%123,112.50 448,112.50 571,225.00
<br />02/01/2036 --117,100.00 117,100.00 -
<br />08/01/2036 335,000.00 3.750%117,100.00 452,100.00 569,200.00
<br />02/01/2037 --110,818.75 110,818.75 -
<br />08/01/2037 350,000.00 3.800%110,818.75 460,818.75 571,637.50
<br />02/01/2038 --104,168.75 104,168.75 -
<br />08/01/2038 365,000.00 3.850%104,168.75 469,168.75 573,337.50
<br />02/01/2039 --97,142.50 97,142.50 -
<br />08/01/2039 375,000.00 3.900%97,142.50 472,142.50 569,285.00
<br />02/01/2040 --89,830.00 89,830.00 -
<br />08/01/2040 390,000.00 4.200%89,830.00 479,830.00 569,660.00
<br />02/01/2041 --81,640.00 81,640.00 -
<br />08/01/2041 410,000.00 4.200%81,640.00 491,640.00 573,280.00
<br />02/01/2042 --73,030.00 73,030.00 -
<br />08/01/2042 425,000.00 4.200%73,030.00 498,030.00 571,060.00
<br />02/01/2043 --64,105.00 64,105.00 -
<br />08/01/2043 445,000.00 4.200%64,105.00 509,105.00 573,210.00
<br />02/01/2044 --54,760.00 54,760.00 -
<br />08/01/2044 460,000.00 4.200%54,760.00 514,760.00 569,520.00
<br />02/01/2045 --45,100.00 45,100.00 -
<br />08/01/2045 480,000.00 4.400%45,100.00 525,100.00 570,200.00
<br />02/01/2046 --34,540.00 34,540.00 -
<br />08/01/2046 500,000.00 4.400%34,540.00 534,540.00 569,080.00
<br />02/01/2047 --23,540.00 23,540.00 -
<br />08/01/2047 525,000.00 4.400%23,540.00 548,540.00 572,080.00
<br />02/01/2048 --11,990.00 11,990.00 -
<br />08/01/2048 545,000.00 4.400%11,990.00 556,990.00 568,980.00
<br />Total $10,000,000.00 -$7,135,905.45 $17,135,905.45 -
<br />Yield Statistics
<br />Bond Year Dollars....................................................................................................................................................$178,387.22
<br />Average Life............................................................................................................................................................17.839 Years
<br />Average Coupon......................................................................................................................................................4.0002335%
<br />
<br />Net Interest Cost (NIC)..............................................................................................................................................4.0843203%
<br />True Interest Cost (TIC)............................................................................................................................................4.0720435%
<br />Bond Yield for Arbitrage Purposes..........................................................................................................................3.9468061%
<br />All Inclusive Cost (AIC).............................................................................................................................................4.1434607%
<br />IRS Form 8038
<br />Net Interest Cost.......................................................................................................................................................4.0002335%
<br />Weighted Average Maturity......................................................................................................................................17.839 Years
<br />Series 2018A Electric Rev | SINGLE PURPOSE | 6/28/2018 | 1:07 PM
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