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<br />c ( h(\,,~+ <br />'i't{ vr,I,1.4 <br />(J~\c51 <br /> <br />BID TABULATION <br /> <br />$3,135,000* General Obligation Improvement Bonds, Series 2007C <br /> <br />CITY OF ELK RIVER, MINNESOTA <br /> <br />SALE: June 4, 2007 <br /> <br />AWARD: WELLS FARGO BROKERAGE SERVICES, LLC <br /> <br />RATING: CIFG Insured (Moody's Investors Service, Inc. "AAA")** <br />UNDERLYING RATING: Moody's Investors Service, Inc. "A1" <br /> <br />NAME OF BIDDER <br /> <br />MATURITY <br />(February 1) <br /> <br />$3,133,327.25 $770,364.42 4.0092% <br /> <br />WELLS FARGO BROKERAGE SERVICES, LLC <br />Minneapolis, Minnesota <br /> <br />2009 <br />2010 <br />2011 <br />2012 <br />2013 <br />2014 <br />2015 <br />2016 <br />2017 <br />2018 <br /> <br />UBS INVESTMENT BANK <br />Dallas, Texas <br /> <br />2009 <br />2010 <br />2011 <br />2012 <br />2013 <br />2014 <br />2015 <br />2016 <br />2017 <br />2018 <br /> <br />RATE <br /> <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br /> <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br />4.000% <br /> <br />BBI: 4.41% <br /> <br />REOFFERING <br />YIELD <br /> <br />NET <br />INTEREST <br />COST <br /> <br />TRUE <br />INTEREST <br />RATE <br /> <br />PRICE <br /> <br />3.650% <br />3.700% <br />3.720% <br />3.740% <br />3.780% <br />3.820% <br />3.860% <br />3.900% <br />3.950% <br />4.000% <br /> <br />$3,119,199.60 $784,492.07 4.0952% <br /> <br />*Subsequentto bid opening the issue size was decreased to $3,090,000 with the 2014 maturity decreased $10,000 to $305,000, the <br />2015 maturity decreased $10,000 to $305,000, the 2016 maturity decreased $5,000 to $310,000, the 2017 maturity decreased $10,000 <br />to $315,000 and the 2018 maturity decreased $10,000 to $310,000 in maturity value. <br /> <br />Adjusted Price - $3,088,118.90 <br />Adjusted Net Interest Cost- $755,097.77 <br />Adjusted TIC - 4.0107% <br /> <br />**CIFG insurance will be purchased by Wells Fargo Brokerage Services, LLC <br /> <br />. <br /> <br />EHLERS <br /> <br />& ASSOCIATES INC <br /> <br />3060 Centre Pointe Drive, Roseville, MN 55113 <br />651.697.8500 fax 651.697.8555 www.ehlers.inc.com <br />Offices in Roseville, MN Brookfield, WI and Lis/e, fL <br />