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$5,970,000
<br />City of Elk River, Minnesota
<br />General Obligation Capital Improvement Plan Refunding Bonds, Series 2020B
<br />Issue Summary
<br />Refunding Summary
<br /> Dated 12/29/2020 | Delivered 12/29/2020
<br />Current Current
<br />Refunding of Refunding of
<br />Series 2010ASeries 2012AIssue Summary
<br />Sources Of Funds
<br />Par Amount of Bonds....................................................................$1,375,000.00$4,595,000.00$5,970,000.00
<br />Total Sources..............................................................................$1,375,000.00$4,595,000.00$5,970,000.00
<br />Uses Of Funds
<br />Deposit to Current Refunding Fund.................................................1,350,000.004,515,000.005,865,000.00
<br />Total Underwriter's Discount (1.000%)............................................13,750.0045,950.0059,700.00
<br />Costs of Issuance.........................................................................9,673.3732,326.6342,000.00
<br />Rounding Amount.........................................................................1,576.631,723.373,300.00
<br />Total Uses...................................................................................$1,375,000.00$4,595,000.00$5,970,000.00
<br />Flow of Funds Detail
<br />State and Local Government Series (SLGS) rates for.......................
<br />Date of OMP Candidates...............................................................
<br />Primary Purpose Fund Solution Method..........................................Gross FundedGross FundedGross Funded
<br />Total Cost of Investments...............................................................$1,350,000.00$4,515,000.00$5,865,000.00
<br />Total Draws..................................................................................$1,350,000.00$4,515,000.00$5,865,000.00
<br />Issues Refunded And Call Dates
<br />2010A GO CIP Bonds - FOS tb......................................................2/01/2021
<br />2012A GO CIP Bonds - FOS tb......................................................2/01/2021
<br />PV Analysis Summary (Net to Net)
<br />Net PV Cashflow Savings @ 1.180%(Bond Yield)...........................43,217.99254,146.09297,364.08
<br />Contingency or Rounding Amount...................................................1,576.631,723.373,300.00
<br />Net Present Value Benefit..............................................................$44,794.62$255,869.46$300,664.08
<br />Net PV Benefit / Refunded Principal................................................3.318%5.667%5.126%
<br />Net PV Benefit / Refunding Principal...............................................3.258%5.568%5.036%
<br />Average Annual Cash Flow Savings................................................14,616.5421,043.0517,829.79
<br />Total New Net D/S........................................................................2,062,450.395,353,602.897,416,053.28
<br />Total Prior D/S..............................................................................2,106,300.005,627,162.507,733,462.50
<br />Total Cashflow Savings..................................................................43,849.61273,559.61317,409.22
<br />Bond Statistics
<br />Average Life..................................................................................1.591 Years6.698 Years5.522 Years
<br />Average Coupon............................................................................0.5829490%1.2298068%1.1868887%
<br />Net Interest Cost (NIC)..................................................................1.2116003%1.3790996%1.3679862%
<br />Bond Yield for Arbitrage Purposes..................................................1.1804047%1.1804047%1.1804047%
<br />True Interest Cost (TIC)..................................................................1.2200548%1.3823685%1.3711821%
<br />All Inclusive Cost (AIC)..................................................................1.6738202%1.4948382%1.5072222%
<br />2020 GO Ref Bonds (10A, 1 | Issue Summary | 10/22/2020 | 1:52 PM
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