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City of E!k River, MN _
<br />Proposed Crossover Refunding of
<br />$3,590,000 G.O. Water Revenue Bonds, Series 2001A &
<br />Current Refunding of $820,000 G.O. Water Revenue Bonds, Series 1998B
<br />Debt Service Comparison
<br />Date Total P+I PCF Existing D/S Net New D/S Old Net D/S Savings
<br />02/01/2008 - - - (381.88) - 381.88
<br />02/01/2009 171,451.00 (97,641.00) 120,795.00 194,605.00 199,610.00 5,005.00
<br />02/01/2010 174,4] 1.00 (2,672,641.00) 2,695,795.00 197,565.00 196,910.00 (655.00)
<br />02/01/2011 352,201.00 - - 352,201.00 359,150.00 6,949.00
<br />02/01/2012 353,871.00 - - 353,871.00 359,535.00 5,664.00
<br />02/01/2013 355,073.50 - - 355,073.50 364,190.00 9,116.50
<br />02/01/2014 350,798.50 - - 350,798.50 362,930.00 12,131.50
<br />02/01/2015 276,213.50 - - 276,213.50 285,670.00 9,456.50
<br />02/01/2016 278,833.50 - - 278,833.50 286,700.00 7,866.50
<br />02/01/2017 275,986.00 - - 275,986.00 286,962.50 10,976.50
<br />02/01/2018 277,846.00 - - 277,846.00 291,750.00 13,904.00
<br />02/01/2019 279,221.00 - - 279,221.00 290,595.00 11,374.00
<br />02/01/2020 280,101.00 - - 280,101.00 288,955.00 8,854.00
<br />02/01/2021 280,476.00 - - 280,476.00 291,705.00 11,229.00
<br />02/01/2022 275,388.00 - - 275,388.00 293,720.00 18,332.00
<br />Total $3,981,871.00 (2,770,282.00) 52,816,590.00 $4,027,797.12 $4,158,382.50 $130,585.38
<br />PV Analysis Summary (Net to Net)
<br />Gross PV Debt Service Savings ..................... 95,883.57
<br />Net PV Cashflow Savings @ 3.730%(Bond Yield)..... 95,883.57
<br />Contingency or Rounding Amount .................... 381.88
<br />Net Present Value Benefit $96,265.45
<br />Net PV Benefit / $2,954,378.20 PV Refunded Debt Service 3,25g%
<br />Net PV Benefit / $2,575,000 Refunded Principal... 3.738%
<br />Net PV Benefit / $3,045,000 Refunding Principal.. 3.161%
<br />Refunding Bond Information
<br />Refunding Dated Date 2/01/2008
<br />Refunding Delivery Date 2/01/2008
<br />08 xover of Ser 01A 8 cur ~ Issue Summary ~ 111 1/2007 ~ 11:51 AM - -
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