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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
<br />Old Net D/S
<br />Savings
<br />12/15/2010 1,450,699.65 1,450,024.66
<br />1,459,492.87
<br />9,468.21
<br />12/15/2011 1,431,720.00 1,431,720.00
<br />1,439,277.70
<br />7,557.70
<br />12/15/2012 1,436,330.00 1,436,330.00
<br />1,444,277.70
<br />7,947.70
<br />12/15/2013 1,438,410.00 1,438,410.00
<br />1,442,877.70
<br />4,467.70
<br />12/15/2014 1,442,410.00 1,442,410.00
<br />1,446,202.70
<br />3,792.70
<br />12/15/2015 1,433,200.00 1,433,200.00
<br />1,439,865.20
<br />6,665.20
<br />12/15/2016 1,434,840.00 1,434,840.00
<br />1,442,252.70
<br />7,412.70
<br />12/15/2017 1,431,960.00 1,431,960.00
<br />1,437,940.20
<br />5,980.20
<br />12/15/2018 1,405,460.00 1,405,460.00
<br />1,412,140.20
<br />6,680.20
<br />12/15/2019 1,401,310.00 1,401,310.00
<br />1,405,702.70
<br />4,392.70
<br />12/15/2020 1,419,845.00 1,419,845.00
<br />1,425,302.70
<br />5,457.70
<br />12/15/2021 1,375,795.00 1,375,795.00
<br />1,380,362.70
<br />4,567.70
<br />12/15/2022 1,325,920.00 1,325,920.00
<br />1,330,422.70
<br />4,502.70
<br />12/15/2023 1,400,400.00 1,400,400.00
<br />1,405,692.70
<br />5,292.70
<br />12/15/2024 1,410,140.00 1,410,140.00
<br />1,414,145.20
<br />4,005.20
<br />12/15/2025 1,416,960.00 1,416,960.00
<br />1,424,987.70
<br />8,027.70
<br />12/15/2026 1,460,760.00 1,460,760.00
<br />1,463,002.70
<br />2,242.70
<br />12/15/2027 - -
<br />(55,757.30)
<br />(55,757.30)
<br />Total $24,116,159.65 $24,115,484.66
<br />$24,158,188.77
<br />$42,704.11
<br />PV Analysis Summary (Net to Net)
<br />Gross PV Debt Service Savings
<br />1,918,837.56
<br />Effects of changes in DSR investments
<br />(1,857,761.22)
<br />Net PV Cashflow Savings © 2.939 %(Bond Yield)
<br />61,076.34
<br />Contingency or Rounding Amount
<br />674.99
<br />Net Present Value Benefit
<br />$61,751.33
<br />Net PV Benefit / $20,963,837.56 PV Refunded Debt Service
<br />0.295%
<br />Net PV Benefit / $18,500,000 Refunded Principal...
<br />0.334%
<br />Net PV Benefit / $19,045,000 Refunding Principal..
<br />0.324%
<br />Refunding Bond Information
<br />Refunding Dated Date
<br />6/01/2010
<br />Refunding Delivery Date
<br />6/01/2010
<br />05re1 1 SINGLE PURPOSE l 2/24/2010 1 256 PM
<br />Northland Securities
<br />Public Finance
<br />Page 1
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