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<br />Preliminary S A v. l n~ S o~
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<br />City of Ramsey EDA, Minnesota
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<br />G.O. Refunding Bonds, Series 2010 ~ ~.>e.r~cs<. t I
<br />2005A (Assumes Old Reserve Earnings at 4.50%)
<br />Debt Service Comparison
<br />Date Total P+I Net New DIS Old Net D/S Savings
<br />12/15/2010 1,064,820.00 1,063,085.60 1,068,838.85 5,753.25
<br />12/15/2011 1,212,240.00 1,212,240.00 1,439,277.70 227,037.70
<br />12/15/2012 1,208,815.00 1,208,815.00 1,444,277.70 235,462.70
<br />12/15/2013 1,209,020.00 1,209,020.00 1,442,877.70 233,857.70
<br />12/15/2014 1,212,120.00 1,212,120.00 1,446,202.70 234,082.70
<br />12/15/2015 1,213,020.00 1,213,020.00 1,439,865.20 226,845.20
<br />12/15/2016 1,210,950.00 1,210,950.00 1,442,252.70 231,302.70
<br />12/15/2017 1,211,190.00 1,211,190.00 1,437,940.20 226,750.20
<br />12/15/2018 1,208,917.50 1,208,917.50 1,412,140.20 203,222.70
<br />12/15/2019 1,209,417.50 1,209,417.50 1,405, 702.70 196,285.20
<br />12/15/2020 1,208,242.50 1,208,242.50 1,425,302.70 217,060.20
<br />12/15/2021 1,210,332.50 1,210,332.50 1,380,362.70 170,030.20
<br />12/15/2022 1,210,475.00 1,210,475.00 1,330,422.70 119,947.70
<br />12/15/2023 1,208,595.00 1,208,595.00 1,405,692.70 197,097.70
<br />12/15/2024 1,209,617.50 1,209,617.50 1,414,145.20 204,527.70
<br />12/15/2025 1,208,292.50 1,208,292.50 1,424,987.70 216,695.20
<br />', 12/15/2026 1,209,992.50 1,209,992.50 1,463,002.70 253,010.20
<br />~I 12/15/2027 1,209,472.50 1,209,472.50 (55,757.30) (1,265,229.80)
<br />12/15/2028 1,211,662.50 1,211,662.50 - (1,211,662.50)
<br />12/15/2029 1,211,297.50 1,211,297.50 - (1,211,297.50)
<br />', 12/15/2030 1,208,297.50 1,208,297.50 - (1,208,297.50)
<br />12/15/2031 1,208,140.00 1,208,140.00 - (1,208,140.00)
<br />Total $26,474,927.50 $26,473,193.10 $23,767,534.75 (2,705,658.35)
<br />PV Analysis Summary (Net to Net)
<br />Gross PV Debt Service Savings ..................... 1,139,686.48
<br />Effects of changes in DSR investments ............. (1,754,514.38)
<br />Net PV Cashflow Savings @ 3.392%(Bond Yield)... .. (614,827.91)
<br />Contingency or Rounding Amount ....................
<br />Net Present Value Loss $(613,093.51)
<br />~~~~ Net PV Loss / $19,854,686.48 PV Refunded Debt Service (3.088%)
<br />Net PV Loss / $18,500,000 Refunded Principal... (3.314%)
<br />Net PV Loss / $18,715,000 Refunding Principal.. (3.276%)
<br />Refunding Bond Information
<br />Refunding Dated Date 6/15/2010
<br />Refunding Delivery Date 6/15/2010
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<br />OSref ~ SINGLE PURPOSE ~ 3/9/2010 ~ 12:51 PM
<br />Northland Securities
<br />Public Finance Page 2
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