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$14,460,000
<br />City of Elk River, Minnesota
<br />Electric Revenue Bonds, Series 2021B
<br />Issue Summary
<br />Proof of Reserve Fund Requirement
<br />DatePrincipalInterestExisting D/STOTAL P+I
<br />08/01/2021--490,090.63490,090.63
<br />08/01/2022335,000.00325,753.381,489,081.252,149,834.63
<br />08/01/2023395,000.00266,067.501,240,531.251,901,598.75
<br />08/01/2024395,000.00263,895.001,240,906.251,899,801.25
<br />08/01/2025400,000.00261,525.001,240,331.251,901,856.25
<br />08/01/2026400,000.00258,925.001,246,431.251,905,356.25
<br />08/01/2027405,000.00255,925.001,249,031.251,909,956.25
<br />08/01/2028410,000.00252,482.501,245,881.251,908,363.75
<br />08/01/2029410,000.00248,382.501,243,881.251,902,263.75
<br />08/01/2030415,000.00243,667.501,250,512.501,909,180.00
<br />08/01/2031420,000.00238,065.001,245,531.251,903,596.25
<br />08/01/2032430,000.00231,555.001,244,118.751,905,673.75
<br />08/01/2033435,000.00224,245.001,246,162.501,905,407.50
<br />08/01/2034445,000.00216,632.501,240,656.251,902,288.75
<br />08/01/2035450,000.00208,400.001,243,456.251,901,856.25
<br />08/01/2036460,000.00199,850.001,249,906.251,909,756.25
<br />08/01/2037470,000.00190,650.00560,706.251,221,356.25
<br />08/01/2038480,000.00181,015.00561,106.251,222,121.25
<br />08/01/2039490,000.00171,175.00560,906.251,222,081.25
<br />08/01/2040500,000.00161,130.00562,081.251,223,211.25
<br />08/01/2041510,000.00150,630.00562,731.251,223,361.25
<br />08/01/2042520,000.00139,665.00562,856.251,222,521.25
<br />08/01/2043535,000.00127,705.00562,456.251,225,161.25
<br />08/01/2044545,000.00115,400.00561,531.251,221,931.25
<br />08/01/2045560,000.00102,865.00559,493.751,222,358.75
<br />08/01/2046570,000.0089,985.00561,912.501,221,897.50
<br />08/01/2047585,000.0076,875.00563,606.251,225,481.25
<br />08/01/2048600,000.0062,250.00559,575.001,221,825.00
<br />08/01/2049615,000.0047,250.00-662,250.00
<br />08/01/2050630,000.0031,875.00-661,875.00
<br />08/01/2051645,000.0016,125.00-661,125.00
<br />Total$14,460,000.00$5,359,965.88$26,145,471.88$45,965,437.76
<br />PROOF OF RESERVE FUND
<br />MAXIMUM PERIODIC DEBT SERVICE
<br />Omit First Period?...............................................................................................................................................Yes
<br />100 % of the Maximum Periodic Debt Service........................................................................................................1,909,956.25
<br />AVERAGE PERIODIC DEBT SERVICE
<br />Total P+I............................................................................................................................................................45,965,437.76
<br />Bond Years (Delivery Date)..................................................................................................................................30.22
<br />125 % of the Average Periodic Debt Service..........................................................................................................1,901,493.56
<br />PERCENT OF PAR
<br />Existing Par.......................................................................................................................................................21,125,000.00
<br />Total Par (Existing + New)...................................................................................................................................35,585,000.00
<br />10 % of Par........................................................................................................................................................3,558,500.00
<br />RESERVE REQUIREMENT
<br />Computed Requirement.......................................................................................................................................640,134.56
<br />Proof's Requirement............................................................................................................................................1,901,493.56
<br />Portion of reserve requirement funded externally.....................................................................................................1,261,359.00
<br />Lowest Requirement less external funding.............................................................................................................640,134.56
<br />2021 Electric Rev Bonds 3 | SINGLE PURPOSE | 3/ 1/2021 | 1:28 PM
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