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<br />~~, <br /> <br />,.- <br /> <br />.~~,.,.~,_. <br /> <br />... <br /> <br />m "m.,.m., m~"~,m",".""~. <br /> <br />City of Ramseyr Minnesota <br />$850,000 <br />General Obligation State Aid Road Bonds <br />Series 2009A <br /> <br />Financing Overview: <br /> <br />The Bonds will be issued pursuant to Minnesota statutes Chapter 475 and Chapter 162.18 to <br />provide funding for a portion of the Sunfish Lake Boulevard project. The net financing <br />requirement is $850,000 inclusive of all financing costs. A detailed illustration of the sources and <br />uses of funds is presented below. <br /> <br />Sources & Uses <br /> <br />Dated 11/01/2009 I Delivered 11/01/2009 <br /> <br />Sources Of Funds <br />Par Amount of Bonds <br /> <br />$850,000.00 <br /> <br />Total Sources <br /> <br />$850,000.00 <br /> <br />Uses Of Funds <br />Costs of Issuance <br />Deposit to Project Construction Fund <br />Rounding Amount <br /> <br />37,020.00 <br />812,857.00 <br />123.00 <br /> <br />Total Uses <br /> <br />$850,000.00 <br /> <br />The estimated service structure is shown as Exhibit A. The total principal and interest structure <br />assumes an average coupon of 2.399% and is structured for a term of ten years. We understand <br />the City will use municipal state aid allotments received semi-annually in May and September of <br />each year to meet the scheduled April and October debt service payments. The first debt <br />payment is scheduled for April 1, 2010. <br /> <br />~~ <br /> <br />~~ <br /> <br />~~. ~... ~ ~....."""". ""'. '0 ,~".".." 0'0""" ..~.....".~.~.......~.. ,~."". ~....~.....~".~"..~~~ <br /> <br />Page 2 <br /> <br />NORTHLANDeSEeD RITIES <br />