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City of Elk River, Minnesota
<br />
<br />General Obligation Improvement Bonds
<br />
<br />Series 1996B
<br />
<br />Dated: 7- 1-1996
<br />Mature: 2- 1
<br />
<br />First Interest: 2- 1-1997
<br />
<br />SCHEDULE nst
<br />
<br /> Total Capital- Net
<br />Year of Year of Principal 1zed Levy
<br />
<br /> Levy Mat. Principal Rates Interest & Interest Interest Required
<br />
<br /> (1) (2) (3) (4) (5) (6) (7) (8)
<br />
<br />1995 1997 0 0.00% 14,503 14,503 14,600 0
<br />1996 1998 0 0.00% 24,862 24,862 24,900 0
<br />1997 1999 125,000 4.75% 24,862 149,862 0 149,862
<br />1998 2000 80,000 4.90~ 18,924 98,924 0 98,924
<br />1999 2001 75~000 4.95% 15,004 90,004 0 90,004
<br />2000 2002 75,000 5.05% 11,291 86,291 0 86,291
<br />2001 2003 75,000 5.15% 7,503 82,503 0 82,503
<br />2002 2004 70,000 5.20~ 3,640 73,640 0 73,640
<br />
<br />TOTALS: 500,000 120,589 620~589 39,500 581,224
<br />
<br />Prepared May 8, 1996
<br />
<br />By SPRINGSTED Incorporated
<br />
<br /> Projected Total
<br /> 105% Assessaent Net
<br />
<br />of Total Incoae Requirement
<br />
<br /> (9) (10) (11)
<br />
<br /> Annual
<br />Surplus
<br />
<br /> (12)
<br />
<br />0 0 0 97
<br />0 0 0 38
<br />157,355 158~678 0 1,323
<br />103,870 103,656 214 0
<br />94,504 98,425 0 3,921
<br />90,606 93,194 0 2,588
<br />86,628 87,963 0 1,335
<br />77,322 82,731 0 5,409
<br />
<br />610,285 624,647 214
<br />
<br />Bond Years: 2,396.67 Annual Interest: 120,589
<br />Avg. Maturity: 4.79 Plus Discount: 6,000
<br />Avg. Annual Rate: 5.032~ Net Interest: 126~589
<br />T.I.C. Rate: 5.314% N.I.C. Rate: 5.282~
<br />
<br />Interest rates are estlaates; changes say cause significant alterations of this schedule.
<br />The actual unde~wrtter's discount bid may also vary.
<br />
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