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Page 8
<br />
<br />
<br />$14,460,000
<br />City of Elk River, Minnesota
<br />Electric Revenue Bonds, Series 2021B
<br />Coverage Ratio and Additional Bonds Test
<br />Date Net Electric
<br /> Fund Revenues
<br />Total Electric Parity
<br />Debt Service
<br />Coverage
<br />08/01/2021 -490,090.63 -
<br />08/01/2022 7,123,454.00 2,149,834.63 3.3134893x
<br />08/01/2023 7,123,454.00 1,901,598.75 3.7460342x
<br />08/01/2024 7,123,454.00 1,899,801.25 3.7495785x
<br />08/01/2025 7,123,454.00 1,901,856.25 3.7455270x
<br />08/01/2026 7,123,454.00 1,905,356.25 3.7386468x
<br />08/01/2027 7,123,454.00 1,909,956.25 3.7296425x
<br />08/01/2028 7,123,454.00 1,908,363.75 3.7327548x
<br />08/01/2029 7,123,454.00 1,902,263.75 3.7447247x
<br />08/01/2030 7,123,454.00 1,909,180.00 3.7311589x
<br />08/01/2031 7,123,454.00 1,903,596.25 3.7421034x
<br />08/01/2032 7,123,454.00 1,905,673.75 3.7380239x
<br />08/01/2033 7,123,454.00 1,905,407.50 3.7385462x
<br />08/01/2034 7,123,454.00 1,902,288.75 3.7446755x
<br />08/01/2035 7,123,454.00 1,901,856.25 3.7455270x
<br />08/01/2036 7,123,454.00 1,909,756.25 3.7300331x
<br />08/01/2037 7,123,454.00 1,221,356.25 5.8324129x
<br />08/01/2038 7,123,454.00 1,222,121.25 5.8287621x
<br />08/01/2039 7,123,454.00 1,222,081.25 5.8289529x
<br />08/01/2040 7,123,454.00 1,223,211.25 5.8235681x
<br />08/01/2041 7,123,454.00 1,223,361.25 5.8228540x
<br />08/01/2042 7,123,454.00 1,222,521.25 5.8268550x
<br />08/01/2043 7,123,454.00 1,225,161.25 5.8142991x
<br />08/01/2044 7,123,454.00 1,221,931.25 5.8296684x
<br />08/01/2045 7,123,454.00 1,222,358.75 5.8276296x
<br />08/01/2046 7,123,454.00 1,221,897.50 5.8298294x
<br />08/01/2047 7,123,454.00 1,225,481.25 5.8127809x
<br />08/01/2048 7,123,454.00 1,221,825.00 5.8301754x
<br />08/01/2049 7,123,454.00 662,250.00 10.7564424x
<br />08/01/2050 7,123,454.00 661,875.00 10.7625367x
<br />08/01/2051 7,763,588.56 661,125.00 11.7429965x
<br />Total $214,343,754.56 $45,965,437.76 -
<br />2019 Net Revenues Available for Debt Service*
<br />38,094,633$
<br />(34,555,086)
<br />3,539,547$
<br />2,856,258
<br />727,649
<br />7,123,454$
<br />470%
<br />*Source: City of Elk River Comprehensive Annual Financial Report 2019. The 2020 Comprehensive Annual Financial Report is not yet available.
<br />2021 Electric Rev Bonds 3 | SINGLE PURPOSE | 3/ 1/2021 | 2:14 PM
<br />
<br />Additional Bonds Test
<br />Average Annual Debt Service
<br />Operating Revenue
<br />Operating Expense
<br />Net Operating Income (Loss)
<br />Add Back Depreciation
<br />Add Other Income
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