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<br />Preliminary
<br />City of Ramsey EDA, Minnesota
<br />G.O. Refunding Bonds, Series 2010 -Level Savings/Same Term
<br />2005A
<br />Debt Service Comparison
<br />Date Total P+I Net New D/S Old Net D/S Savings
<br />i 12/1512010 1,450,699.65 1,450,024.66 1,459,492.87 9,468.21
<br />I 12/15/2011 1,431,720.00 1,431,720.00 1,439,277.70 7,557.70
<br />12/15/2012 1,436,330.00 1,436,330.00 1,444,277.70 7,947.70
<br />12/15/2013 1,438,410.00 1,438,410.00 1,442,877.70 4,467.70
<br />12/1512014 1,442,410.00 1,442,410.00 1,446,202.70 3,792.70
<br />12/15/2015 1,433,200.00 1,433,200.00 1,439,865.20 6,665.20
<br />12/15/2016 1,434,840.00 1,434,840.00 1,442,252.70 7,412.70
<br />12/15/2017 1,431,960.00 1,431,960.00 1,437,940.20 5,980.20
<br />12/15/2018 1,405,460.00 1,405,460.00 1,412,140.20 6,680.20
<br />12/15/2019 1,401,310.00 1,401,310.00 1,405,702.70 4,392.70
<br />12/15/2020 1,419,845.00 1,419,845.00 1,425,302.70 5,457.70
<br />12115/2021 1,375,795.00 1,375,795.00 1,380,362.70 4,567.70
<br />12/15/2022 1,325,920.00 1,325,920.00 1,330,422.70 4,502.70
<br />12!15/2023 1,400,400.00 1,400,400.00 1,405,692.70 5,292.70
<br />12/15/2024 1,410,140.00 1,410,140.00 1,414,145.20 4,005.20
<br />12/15/2025 1,416,960.00 1,416,960.00 1,424,987.70 8,027.70
<br />12/15/2026 1,460,760.00 1,460,760.00 1,463,002.70 2,242.70
<br />12/15/2027 - - (55,757.30) (55 757 30)
<br />Total $24,116,159.65 $24,115,484.66 $24,158,188.77 $42,704.11
<br />PV Analysis Summary (Net to Net)
<br />Gross PV Debt Service Savings ..................... 1 918 837.56
<br />Effects of changes in DSR investments ............. (1 857 761.22)
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<br />Net PV Cashflow Savings @ 2.939%(Bond Yield).... . 61 076.34
<br />Contingency or Rounding Amount .................... 674.99
<br />Net Present Value Benefit $61,751.33
<br />Net PV Benefit / $20,963,837.56 PV Refunded Debt Service 0.295%
<br />Net PV Benefit / $18,500,000 Refunded Principal... 0.334
<br />Net PV Benefit / $19,045,000 Refunding Principal.. 0.324%
<br />Refunding Bond Information
<br />Refunding Dated Date 6/01/2010
<br />Refunding Delivery Date 6/01/2010
<br />OSref I SINGLE PURPOSE 1 2/24/2070 1 2:56 PM
<br />Northland Securities
<br />Public Finance Page 1
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