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<br />
<br />$10,000,000
<br />City of Elk River, Minnesota
<br />Electric Revenue Bonds, Series 2018A
<br />Term: 30 Years
<br />Proof of Reserve Fund Requirement
<br />Date Principal Interest Existing D/S TOTAL P+I
<br />08/01/2019 260,000.00 312,677.95 921,375.00 1,494,052.95
<br />08/01/2020 210,000.00 363,472.50 929,925.00 1,503,397.50
<br />08/01/2021 210,000.00 358,642.50 922,675.00 1,491,317.50
<br />08/01/2022 215,000.00 353,497.50 929,575.00 1,498,072.50
<br />08/01/2023 225,000.00 348,015.00 680,525.00 1,253,540.00
<br />08/01/2024 230,000.00 342,052.50 680,900.00 1,252,952.50
<br />08/01/2025 235,000.00 335,612.50 680,825.00 1,251,437.50
<br />08/01/2026 240,000.00 328,797.50 682,925.00 1,251,722.50
<br />08/01/2027 250,000.00 321,597.50 687,275.00 1,258,872.50
<br />08/01/2028 255,000.00 313,847.50 686,375.00 1,255,222.50
<br />08/01/2029 265,000.00 305,815.00 684,575.00 1,255,390.00
<br />08/01/2030 275,000.00 297,335.00 686,806.25 1,259,141.25
<br />08/01/2031 285,000.00 288,260.00 683,025.00 1,256,285.00
<br />08/01/2032 295,000.00 278,570.00 683,212.50 1,256,782.50
<br />08/01/2033 305,000.00 268,392.50 682,256.25 1,255,648.75
<br />08/01/2034 315,000.00 257,565.00 679,350.00 1,251,915.00
<br />08/01/2035 325,000.00 246,225.00 680,150.00 1,251,375.00
<br />08/01/2036 335,000.00 234,200.00 690,200.00 1,259,400.00
<br />08/01/2037 350,000.00 221,637.50 -571,637.50
<br />08/01/2038 365,000.00 208,337.50 -573,337.50
<br />08/01/2039 375,000.00 194,285.00 -569,285.00
<br />08/01/2040 390,000.00 179,660.00 -569,660.00
<br />08/01/2041 410,000.00 163,280.00 -573,280.00
<br />08/01/2042 425,000.00 146,060.00 -571,060.00
<br />08/01/2043 445,000.00 128,210.00 -573,210.00
<br />08/01/2044 460,000.00 109,520.00 -569,520.00
<br />08/01/2045 480,000.00 90,200.00 -570,200.00
<br />08/01/2046 500,000.00 69,080.00 -569,080.00
<br />08/01/2047 525,000.00 47,080.00 -572,080.00
<br />08/01/2048 545,000.00 23,980.00 -568,980.00
<br />Total $10,000,000.00 $7,135,905.45 $13,271,950.00 $30,407,855.45
<br />PROOF OF RESERVE FUND
<br />
<br />MAXIMUM PERIODIC DEBT SERVICE
<br />Omit Last Period?....................................................................................................................................................Yes
<br />100 % of the Maximum Periodic Debt Service.........................................................................................................1,503,397.50
<br />
<br />AVERAGE PERIODIC DEBT SERVICE
<br />Total P+I...................................................................................................................................................................30,407,855.45
<br />Bond Years (Delivery Date)....................................................................................................................................29.85
<br />125 % of the Average Periodic Debt Service.........................................................................................................1,273,479.29
<br />PERCENT OF PAR
<br />Total Par (Existing + New).......................................................................................................................................20,685,000.00
<br />10 % of Par.............................................................................................................................................................2,068,500.00
<br />RESERVE REQUIREMENT
<br />Computed Requirement...........................................................................................................................................275,819.29
<br />Proof's Requirement................................................................................................................................................1,273,479.29
<br />Portion of reserve requirement funded externally..................................................................................................997,660.00
<br />Lowest Requirement less external funding............................................................................................................275,819.29
<br />Series 2018A Electric Rev | SINGLE PURPOSE | 6/28/2018 | 1:07 PM
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