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City of Elk River, MN
<br />$2,875,000 Electric Utility Revenue Bonds, Series 2007
<br />$2,500,000 Net Project Costs - 12 Year Term
<br />Proof of Reserve Fund Requirement
<br />Date Principal Interest TOTAL P+I
<br />02/0l/2008 - 116,086. l 1 116,086.11
<br />02/01/2009 - 132,250.00 132,250.00
<br />02/01/2010 170,000.00 132,250.00 302,250.00
<br />02/0I/2011 175,000.00 124,940.00 299,940.00
<br />02/01/20_12___ _ 18_0,000.00___ _ __ l 17,327.50 297,327.5
<br />0
<br />
<br />02/01 /2013 190,000.00 _
<br />109,407.50 _ _
<br />_
<br />_
<br />299,407.50
<br />02/01 /2014 200,000.00 100,952.50 300,952.50
<br />02/01 /2015 2l Q,00Q00 91,952.50 301,952.50
<br />02/0 ] /2016 215,000.00 82,397.50 297,397.50
<br />02/01/2017 225,000.00 72,561.26 297,561.26
<br />02/01 /20 18 240,000.00 62,211.26 302,211.26
<br />02/01/2019 250,000.00 51,051.26 301,051.26
<br />02/01/2020 260,000.00 39,301.26 299,301.26
<br />02/01/2021 275,000.00 26,951.26 301,951.26
<br />02/01/2022 285,000.00 13,751.26 298,751.26_
<br />Total $2,875,000.00 $1,273,391.17 $4,148,391.17
<br />PROOF OF RESERVE FUND
<br />AGGREGATE ISSUE PRICE
<br />Total Par __ 2,875,000.00
<br />10 % of Aggregate Issue Price _ _ _ 287,500.00
<br />_
<br />MAXIMUM PERIODIC DEBT SERVICE
<br />Omit First Period? Yes
<br />100 % of the Maximum Periodic Debt Service __ _ __ _______
<br />302,250.00
<br />__ _ _
<br />AVERAGE PERIODIC DEBT SERVICE
<br />Total P+I _ __ _ _ __ _ _ 4,148,39].17
<br />Bond Years (Delivery Date) 14.88
<br />125 % of the Avera a Periodic Debt Service __ 348,539.21
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<br />RESERVE REQUIREMENT
<br />Computed Re uirement __ _ 287,500.00
<br />Proofs Requirement _ 287,500.00
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<br />Ser 07 EICV Util Rev Bds ~ SINGLE PURPOSE ~ Z &2007 ~ 4:36 PM
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