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Preliminary
<br />C ity of Ramsey EDA Minnesota
<br />GO, Refunding Bonds, Series 2012 (Level Savings)
<br />2005A (Assumes Old Reserve Earnings at 2.50 %)
<br />Debt Service Comparison
<br />Date Total P+I Net New DIS Did Net DIS Savings
<br />1 211 5/20/2 1 ,424,494.92 1,424,494.92 1,486, 222.07 61 ,727.15
<br />12/15/2013 1,422,595.00 1,422,595.00 1,473, 51 6.50 50,921.50
<br />12/15/2014 1,426,025.00 1,426,025.00 1,476,841.50 50,816.50
<br />12/15/2015 1,417,185.00 1,417,185.00 1,470,504.00 53,319.00
<br />12/15/2016 1,421,135.00 1,421,1 35.00 1,472, 891.50 51,756.50
<br />12/15/2017 1,417,695.00 1,417,695.00 1,468,579.00 50,884.00
<br />12/15/2018 1,391,875.00 1,391,875.00 1,442,779.00 50,904.00
<br />12/15/2019 1,383,955.00 1,383,955.00 1,436,341.50 52,386.50
<br />12/15/2020 1,403,615.00 1,403,615.00 1,455,941.50 52,326.50
<br />12/15/2021 1,360,215.00 1,360,215.00 1,411,001.50 50,786.50
<br />12115/2022 1,309,340.00 1,309,340.00 1,361,061.50 51,721.50
<br />12/15/2023 1,386,777.50 1,386,777.50 1,436,331.50 49,554.00
<br />12/15/2024 1,393,567.50 1,393,567.50 1,444,784.00 51,216.50
<br />12/15/2025 1,401,1 02.50 1,401,102.50 1,455, 626.50 54,524.00
<br />12/15/2026 1,440,337.50 1,440,337.50 1,493,641.50 53,304.00
<br />12/15/2027 - (25,118.50) (25,118.50)
<br />Total $20,999,914.92 $20,999,914.92 $21,760,944.57 $761,029.65
<br />PV Analysis Summary (Net to Net)
<br />Gross PV Debt Service Savings 2,220,083.59
<br />Effects of changes in DSR investments (1,560,241.36)
<br />Net PV Cashflow Savings @ 2.359 %(Bond Yield) 659,842,23
<br />Net Present Value Benefit $659,842.23
<br />Net PV Benefit/ $19,870,083.59 PV Refunded Debt Service 3.321%
<br />Net PV Benefit 1 $17,040,000 Refunded Principal,.. 3
<br />. Net PV Benefit 1 $17,650,000 Refunding Principal.. 3.738%
<br />Refunding Bond Information
<br />Refunding Dated Date
<br />Refunding Delivery Date
<br />05ref 1 SINGLE PURPOSE 1 1/6/2012 1 9:59 AM
<br />II Northland Securities
<br />Public Finance
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