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<br />
<br />City of Elk River, MN
<br />$2,875,000 Electric Utility Revenue Bonds, Series 2007
<br />$2,500,000 Net Project Costs - 12 Year Term
<br />
<br />Proof of Reserve Fund Requirement
<br />
<br />
<br />Interest
<br />
<br />116,086.11
<br />132,25000
<br />132,250.00
<br />124,940.00
<br />1
<br />109,407.50
<br />100,952.50
<br />91,952.50
<br />82,397.50
<br />72,561.26
<br />62,211.26
<br />51,051.26
<br />39,301.26
<br />26,951.26
<br />13,751.26
<br />
<br />$1,273,391.17
<br />
<br />TOTAL P+I
<br />
<br />116,086.11
<br />132,250.00
<br />302,250.00
<br />299,940.00
<br />297,327.50
<br />299,407.50
<br />300,952.50
<br />301,952.50
<br />297,397.50
<br />297,561.26
<br />302,211.26
<br />301,051.26
<br />299,301.26
<br />301,951.26
<br />298,751.26
<br />
<br />$4,148,391.17
<br />
<br />Date
<br />
<br />02/01/2008
<br />02/01/2009
<br />02/01/2010
<br />02/01/2011
<br />02/01/2012
<br />02/01/2013
<br />02/01/2014
<br />02/01/2015
<br />02/01/2016
<br />02/01/2017
<br />02/01/2018
<br />02/01/2019
<br />02/01/2020
<br />02/01/2021
<br />02/01/2022
<br />
<br />Principal
<br />
<br />170,000.00
<br />175,000.00
<br />
<br />Total
<br />
<br />190,000.00
<br />200,000.00
<br />210,000.00
<br />215,000.00
<br />225,000.00
<br />240,000.00
<br />250,000.00
<br />260,000.00
<br />275,000.00
<br />285,00000
<br />
<br />$2,875,000.00
<br />
<br />PROOF OF RESERVE FUND
<br />
<br />AGGREGA TE ISSUE PRICE
<br />Total Par
<br />10 % Issue Price
<br />
<br />2,875,000.00
<br />287,500.00
<br />
<br />MAXIMUM PERIODIC DEBT SERVICE
<br />100 % of the Maximum Periodic Debt Service
<br />
<br />3Q~'??Q.OQ
<br />
<br />AVERAGE PERIODIC DEBT SERVICE
<br />Total P+!
<br />BondYears(Delivery Date)
<br />of the
<br />
<br />4,148,391.17
<br />14.88
<br />
<br />
<br />
<br />RESERVE REQUIREMENT
<br /><,,:()ITIPlltt:.~..~t:qllir.t:IlIel1t.....
<br />Proofs Requirement
<br />
<br />~87,5QQOO
<br />287,500.00
<br />
<br />Ser 07 Elclr Util Rev Bds I SINGLE PURPOSE I 2/12/2007 I 2:51 PM
<br />
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<br />
<br />
<br />Ehlers & Associates, Inc.
<br />Leaders in Public Finance Page 4
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