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<br />Preliminary
<br />City of Ramsey EDA, Minnesota
<br />G.O. Refunding Bonds, Series 2010 -Extended Term / 2035
<br />2005A
<br />Debt Service Comparison
<br />Date Total P+I Net New D/S Old Net D/S Savings
<br />12/15/2010 1,130,015.13 1,129,340.14 1,459,492.87 330,152.73
<br />12/1512011 1,126,007.50 1,126,007.50 1,439,277.70 313,270.20
<br />12/1512012 1,128,065.00 1,128,065.00 1,444,277.70 316,212.70
<br />12/15/2013 1,128,745.00 1,128,745.00 1,442,877.70 314,132.70
<br />12/15/2014 1,127,750.00 1,127,750.00 1,446,202.70 318,d52.70
<br />12/1512015 1,125,050.00 1,125,050.00 1,439,865.20 314,815.20
<br />12/15/2016 1,125,060'.00 1,125,060.00 1,442,252.70 317;192.70
<br />12/15/2017 1,127,630.00 1,127,630.00 1,437,940.20 310,310.20
<br />12/15/2018 1,128,130.00 1,128,130.00 1,412,140.20 284,010.20
<br />12/15/2019 1,126,767.50 1,126,767.50 1,405,702.70 278,935.20
<br />12/15/2020 1,129,077.50 1,129,077.50 1,425,302.70 298,225.20
<br />12/15/2021 1,125,177.50 1,125,177.50 1,380,362.70 255,185.20
<br />12/15/2022 1,125,182.50 1,125,182.50 1,330,422.70 206,240.20
<br />12/15/2023 1,128,902.50 1,128,902.50 1,405,692.70 276,790.20
<br />12/15/2024 1,126,132.50 1,126,132.50 1,414,145.20 288,012.70
<br />12/15/2025 1,126,992.50 1,126,992.50 1,424,987.70 297,995.20
<br />12/15/2026 1,126,267.50 1,126,267.50 1,463,002.70 336,735.20
<br />12/15/2027 1,128 907.50 1,128,907.50 (55,757.30) (1,184,664.80)
<br />12/15/2028 1,129,677.50 1,129,677.50 - (1,129,677.50)
<br />12/15/2029 1,128,517.50 1,128;517.50 - (1,128,517.50)
<br />12/15/2030 1,125,367.50 1,125,367.50 - (1,125,367.50)
<br />12/15/2031 1,130,167.50 1,130,167.50 - (1,130,167.50)
<br />12/15/2032 1,127,907.50 1,127,907.50 - (1,127,907.50)
<br />12/15/2033 1 128,275.00 1,128,275.00 (1,128,275.00)
<br />12115/2034 1,126,485.00 1,126,485.00 - (1,126,485.00)
<br />12/15/2035 1,126,980.00 1,126,980.00 - (1,126,980.00)
<br />Total $29,313,237.63 $29,312,562.64 $24,158,188.77 (5,154,373.87)
<br />PV Analysis Summary (Net to Net)
<br />Gross PV Debt Service Savings ..................... 779,242.48
<br />Effects of changes in DSR investments ............. (1,700,578.80)
<br />Net PV Cashflow Savings @ 3.645%(Bond Yield).... . (921,336.32)
<br />
<br />Contingency or Rounding Amount .................... 674.99
<br />Net Present Value Loss $(920,661.33)
<br />Net PV Loss / $19 824 242.48 PV Refunded Debt Service (4.644%)
<br />Net PV Loss / $18,500,000 Refunded Principal... (4.977%)
<br />Net PV Loss 1$19 045 000 Refunding Principal.. (4.834%)
<br />Refunding Bond Information
<br />
<br />Refunding Dated Date 6/01/2010
<br />Refunding Delivery Date 6/01/2010
<br />OSref 2035 I SINGLE PURPOSE i 2/23/2010 19:45 AM
<br />Northland Securities
<br />Public Finance Page 2
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