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Preliminary
<br />City of Ramsey EDA, Minnesota
<br />G.O. Refunding Bonds, Series 2010 - Extended Term / 2035
<br />2005A
<br />%.,
<br />Debt Service Comparison
<br />Date Total P +I Net New D/S
<br />Old Net D/S
<br />Savings
<br />12/15/2010 1,130,015.13 1,129,340.14
<br />1,459,492.87
<br />330,152.73
<br />12/15/2011 1,126,007.50 1,126,007.50
<br />1,439,277.70
<br />313,270.20
<br />12/15/2012 1,128,065.00 1,128,065.00
<br />1,444,277.70
<br />316,212.70
<br />12/15/2013 1,128,745.00 1,128,745.00
<br />1,442,877.70
<br />314,132.70
<br />12/15/2014 1,127,750.00 1,127,750.00
<br />1,446,202.70
<br />318,452.70
<br />12/15/2015 1,125,050.00 1,125,050.00
<br />1,439,865.20
<br />314,815.20
<br />12/15/2016 1,125,060.00 1,125,060.00
<br />1,442,252.70
<br />317,192.70
<br />12/15/2017 1,127,630.00 1,127,630.00
<br />1,437,940.20
<br />310,310.20
<br />12/15/2018 1,128,130.00 1,128,130.00
<br />1,412,140.20
<br />284',010.20
<br />12/15/2019 1,126,767.50 1,126,767.50
<br />1,405,702.70
<br />278,935.20
<br />12/15/2020 1,129,077.50 1,129,077.50
<br />1,425,302.70
<br />298,225.20
<br />12/15/2021 1,125,177.50 1,125,177.50
<br />1,380,362.70
<br />255,185.20
<br />12/15/2022 1,125,182.50 1,125,182.50
<br />1,330,422.70
<br />206,240.20
<br />12/15/2023 1,128,902.50 1,128,902.50
<br />1,405,692.70
<br />276,790.20
<br />12/15/2024 1,126,132.50 1,126,132.50
<br />1,414,145.20
<br />288,012.70
<br />12/15/2025 1,126,992.50 1,126,992.50
<br />1,424,987.70
<br />297,995.20
<br />12/15/2026 1,126,267.50 1,126,267.50 .
<br />1,463,002.70
<br />336,735.20
<br />12/15/2027 1,128,907.50 1,128,907.50
<br />(55,757.30)
<br />(1,184,664.80)
<br />12/15/2028 1,129,677.50 1,129,677.50
<br />-
<br />(1,129,677.50)
<br />12/15/2029 1,128,517.50 1,128,517.50
<br />-
<br />(1,128,517.50)
<br />12/15/2030 1,125,367.50 1,125,367.50
<br />-
<br />(1,125,367.50)
<br />12/15/2031 1,130,167.50 1,130,167.50
<br />-
<br />(1,130,167.50)
<br />12/15/2032 1,127,907.50 1,127,907.50
<br />-
<br />(1,127,907.50)
<br />12/15/2033 1,128,275.00 1,128,275.00
<br />-
<br />(1,128,275.00)
<br />12/15/2034 1,126,485.00 1,126,485.00
<br />-
<br />(1,126,485.00)
<br />12/15/2035 1,126,980.00 1,126,980.00
<br />-
<br />(1,126,980.00)
<br />Total $29,313,237.63 $29,312,562.64
<br />$24,158,188.77
<br />(5,154,373.87)
<br />PV Analysis Summary (Net to Net)
<br />Gross PV Debt Service Savings
<br />779,242.48
<br />Effects of changes in DSR investments
<br />(1,700,578.80)
<br />Net PV Cashflow Savings @ 3.645 %(Bond Yield)
<br />(921,336.32)
<br />Contingency or Rounding Amount
<br />674.99
<br />Net Present Value Loss
<br />$(920,661.33)
<br />Net PV Loss / $19,824,242.48 PV Refunded Debt Service
<br />(4.644 %)
<br />Net PV Loss / $18,500,000 Refunded Principal...
<br />(4.977 %)
<br />Net PV Loss / $19,045,000 Refunding Principal..
<br />(4.834 %)
<br />Refunding Bond Information
<br />Refunding Dated Date
<br />6/01/2010
<br />Refunding Delivery Date
<br />6/01/2010
<br />05ref 2035 1 SINGLE PURPOSE 1 2/23/2010 1 9:45 AM
<br />Northland Securities
<br />Public Finance
<br />Page 2
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