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City of Elk River, MN ____ ____ _ <br />Proposed Current Refunding of <br />$820,000 G.O. Water Revenue Bonds , Series 1998B <br />~ Debt Service Comparison <br /> Net New <br />Date Total P+I D/S Old Net D/S Savings <br />02/01/2008 - 4,397.70 - 4 397.70 <br />( ) <br />02/01 /2009 73,810.00 73,810.00 78,815.00 5,005.00 <br />02/01/2010 76,770.00 <br />' 76,770.00 76,115.00 (655.00) <br />02/01/2011 74,560.00 74,560.00 78,3SS.00 3,795.00 <br />02!01 /2012 77,350.00 77,350.00 75,300.00 (2,OS0.00) <br />~ 02/01/2013 74,935.00 74,935.00 77,180.00 2,245.00 <br />02/01/2014 72,485.00 72,485.00 78,750.00 6,265.00 <br />Total $449,910.00 $454,307.70 $464,515.00 $] 0,207.30 <br />PV Analysis Summary (Net to Net) <br />~ Gross PV Debt Service Savings ..................... 12,893.58 <br />Net PV Cashflow Savings @ 3.730%(Bond Yield)..... 12,893.58 <br />Contingency or Rounding Amount .................._ (4,397.70) <br />Net Present Value Benefit $8,495.88 <br />Net PV Benefit / $409,562.98 PV Refunded Debt Service 2.074% <br />Net PV Benefit / $395,000 Refunded Principal.. 2.15 ] <br />Net PV Benefit / $400,000 Refunding Principal.. 2.124% <br />Refunding Bond Information <br />Refunding Dated Dale 2/01/2008 <br />Refunding Delivery Date _ 2/01/2008 <br />08 xover of Ser 01A 8 cur ~ Ser 980 $820K CURR ~ 11/ 1/2007 ~ 11:51 AM <br />