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Financing Overview: <br />The Bonds will be issued pursuant to Minnesota statutes Chapter 475, 429 and 162.18 to fund <br />various public improvement projects within the City including the Bunker & Armstrong <br />roadway improvements and Legacy development infrastructure improvements. The City will <br />use a combination of municipal state aid (MSA) allotments (gas tax dollars) and special <br />assessments to make the debt service payments. The MSA Portion will fund street <br />improvements to East Bunker Lake Boulevard and Armstrong Boulevard (CSAH 83). The <br />special assessment portion will fund . ,street, trail, drainage, water and sewer and paying <br />improvements related to the Legacy development. A detailed illustration of the sources and <br />uses of funds is presented below. <br />Total Issue Sources And Uses <br />Dated 08/01/2011 I Delivered 08/04/2011 <br />Sources Of Funds <br />Par Amount of Bonds <br />Accrued Interest from 08/01/2011 to 08/04/2011 <br />Total Sources <br />Uses Of Funds <br />Total Underwriter's Discount (1.000 %) <br />Costs of Issuance <br />Deposit to Debt Service Fund <br />Deposit to Project Construction Fund <br />Rounding Amount <br />Total Uses <br />City of Ramsey, Minnesota <br />$4,405,000 <br />General. Obligation Bonds, Series 2011A <br />MSA Portion <br />$2670,000. <br />406.75 <br />$2,670,406.75 $1,735,432.58 $4,405,839.33 <br />26,700.00 <br />26,075.68 <br />406.75 <br />2,615,267.00 <br />1,957.32 <br />$2,670,406.75 <br />Improvement Issue <br />Portion Summary <br />$1,735,000.00 $4,405,000.00 <br />432.58 839.33 <br />17,350.00 <br />16,944.32 <br />432.58 <br />1,701,077.34 <br />(371.66) <br />$1,735,432.58 <br />The estimated debt service structure for the MSA portion is shown as Exhibit A and assumes an <br />average coupon of 2.14 %. The MSA portion will use municipal state aid allotments each year to <br />meet the scheduled February and August debt service payments. The MSA portion is structured <br />for a term of ten years. <br />The estimated debt service structure for the special assessment portion is shown as Exhibit B and <br />assumes an average coupon of 3.31% and is structured for a term of twenty years. Special <br />assessments will be filed for a term of twenty years with $1,034,060 filed in 2011 for first <br />collection in 2012 and $700,940 filed in 2011 for first collection in 2015. <br />NORTHLAND <br />44,050.00 <br />43,020.00 <br />839.33 <br />4,316,344.34 <br />1,58 5.66 <br />$4,405,839.33 <br />Page 2 <br />SECURITIES <br />