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City of Elk River, MN
<br />Series 2009 Lease Revenue Bond Options
<br /> Option 5
<br /> Lease Revenue Bonds, Series 2009
<br /> 15 Year Term -Level Debt
<br /> $2,500,000 Net Project Costs
<br /> Par Amount of Bonds 2,860,000
<br /> Total Sources 2,860,000
<br /> Total Underwriter's Discount (1 .500%) .42,900
<br /> Costs of Issuance 35,000
<br /> Deposit to Debt Service Reserve Fund (DSRF) 280,908
<br /> Deposit to Project Construction Fund 2,500,000
<br /> Rounding Amount 1,193
<br /> Total Uses 2,860,000
<br /> 3.50°/°
<br />Payment DSR Net Annual
<br />Date .Principal Rate Interest Earnings P 8~ 1 P & I
<br />10/1 /2009
<br />2/1/2010 (3,277) (3,277) (3,277)
<br />8/1/2010 115,415 (4,916} 110,499
<br />2/1/2011 95,000 4.40% 69,249 (4,916} 159,333 269,832
<br />8/1/2011 - 67,159 (4,916) 62,243
<br />2/1/201
<br />2 145 000 4.45% 67 159 (4 916 207,243
<br />~ 269,486
<br />_
<br />8/1/2012 `~~~ ___ - 63,933 (4,916) 59,017
<br />2/1/2013 150,000 4.50% 63,933 (4,916) 209,017 268,033
<br />8/1/2013 - 60,558 (4,916) 55,642
<br />2/1/2014 155,000 4.60% 60,558 (4,916) 210,642 266,283
<br />8/1/2014 - 56,993 (4,916) 52,077
<br />2/1/2015 165,000 4.65%
<br />_..., w 56,993
<br />.,...,.._._....~........._ X4,916) ~
<br />_........_ ~217,077 269,153
<br />.._....,.....~..........,...__.~..,._
<br />8/1/2015 .._.,....,...___....._ ,_._,~..,_.
<br />- 53,156 (4,916) 48,240
<br />2/1/2016 170,000 4.70% 53,156 (4,916) 218,240 266,481
<br />8/1/2016 - 49,161 (4,916) 44,245
<br />2/1/2017 180,000 4.75% 49,161 (4,916) 224,245 268,491
<br />8/1/2017 - 44,886 (4,916) 39,970
<br />2/1/2018 190,000 4.80°/a 44,886
<br />...
<br />. (4,916)
<br />........... 229,970 269,941
<br />_
<br />8/1/201.8.....__ ..............___. ..............._.._.._. .._
<br />_..40,326 (4,916) 35,410
<br />2/1/2019 200,000 4.85% 40,326 (4,916) 235,410 270,821
<br />8/1/2019 - 35,476 (4,916) 30,560
<br />2/1/2020 205,000 4.90% 35,476 {4,916) 235,560 266,121
<br />8/1/2020 - 30,454 {4,916) 25,538
<br />2/1/2021 220,000 4.95% 30,454
<br />..
<br />.. (4,916)
<br />....._ 245,538 271,076
<br />.....8/1/2021........ ..........:.,......._ _.._ ............ ..
<br />25,009 4,916) 20,093
<br />2/1/2022 230,000 5.00% 25,009 (4,916) 250,093 270,186
<br />8/1/2022 - 19,259 (4,916} 14,343
<br />2!1/2023 240,000 5.05% 19,259 (4,916) 254,343 268,686
<br />8/1/2023 - 13,199 (4,916) 8,283
<br />2/1!2024 250,000 5.10°k
<br />. 13,199
<br />.
<br />__. (4,916)
<br />..... . 258,283 266,566
<br />....8/1/2024. _.,.._ ....-_..........._...... 6,824 _4,916) 1,908
<br />2/1/2025 265,000 5.15°k 6,824 (285,823) (14,000) (12,092)
<br /> 2,860,000 1,317,446 431,661 3,745,785 3,745,785
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