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<br /> APPENDIX II
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<br /> City of Elk River, Minnesota Prepared November 1, 1994
<br /> $570,000 G.O. Water Revenue Bonds, Series 19940 By SPRINGSTEO Incorporated
<br /> Reduced By TIF District No.4 Contribution
<br /> Dated: 12- 1-1994
<br /> Mature: 2- ,
<br /> First Interest: 8- 1 - 1 995
<br /> Total
<br /> Year of Year of Principal 105%
<br /> Revenue Mat. PrinCipal Rates Interest & Interest 01 Total
<br /> (1 ) (2) ( 3) (4) (5) (6) (7)
<br /> '995 1996 20,000 4.55% 37,975 57,975 60,874
<br /> 1996 1997 30,000 4.80% 31,640 61,640 64,722
<br /> 1997 1998 30,000 5.00% 30,200 60,200 63,210
<br /> 1998 1999 30,000 5.20% 28,700 58,700 61,635
<br /> 1999 2000 30,000 5.35% 27 , 140 57 J 140 59,997
<br /> 2000 2001 35,000 5.45% 25,535 60,535 63,562
<br /> 2001 2002 35,000 5.55% 23,627 58,627 6',558
<br /> 2002 2003 35,000 5.65% 21,684 56,684 59,518
<br /> 2003 2004 40,000 5.75% 19,706 59,706 62,691
<br /> 2004 2005 40,000 5.85% 17,406 57,406. 60,276
<br /> 2005 2006 45,000 5.95% 15,066 60,066 63,0"69
<br /> 2006 2007 45,000 6.05% 12,388 57,388 60,257
<br />e 2007 2008 50,000 6. 15% 9,665 59,665 62,648
<br />2008 2009 50,000 6.25% 6,590 56,590 59,420
<br /> 2009 2010 55,000 6.30% 3,465 58,465 61,388
<br /> TOTALS: 570,000 310,787 880,787 924,825
<br />
<br />Bond Years:
<br />Avg. Maturity:
<br />Avg. Annual Rate:
<br />T.I.C. Rate:
<br />
<br />Annual Interest:
<br />Plus Discount:
<br />Net Interest:
<br />N.I.C. Rate:
<br />
<br />5,240.00
<br />9.19
<br />5.931%
<br />6.089%
<br />
<br />310,787
<br />7,410
<br />318,197
<br />6.072%
<br />
<br />Interest rates are estimatesj changes may cause significant
<br />alterations of this schedule.
<br />The actual underwriter's discount bid 'may also vary.
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<br />PAt1A 7
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