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Preliminary
<br />EDA Minnesota fit of Ramsey
<br />G.O. 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 Old Net DIS Savings
<br />12/15/2012 997,684.47 995,558.49 1,486,222.07 490,663.58
<br />12/15/2013 1,019,815.00 1,019,815.00 1,473,516.50 453,701.50
<br />12/15/2014 • 1,037,115.00 1,037,115.00 1,476,841.50 439,726.50
<br />12/1 5/2015 1 ,058,085.00 1,058,085.00 1 ,470,504.00 41 2,419.00
<br />121/5/2016 1,077,602.50 1,077,602.50 1 ,472,891.,50 395,289.00
<br />12/15/2017 1,095,567.50 ' 1 ,095,567.50 1,468,579.00 373,011.50
<br />- 12115/2018 1,116,880.00 1,116,880.00 1,442,779.00 325,899.00
<br />12/15/2019 1,136,367.50 1,136, 367.50 1,436, 341.50 299,974.00
<br />12/15/2020 1,158,910.00 1,158,910.00 1,455,941.50 297,031,50
<br />1 1,179,295.00 1,179,295.00 1,411,001.50 231,706.50
<br />12/15/2022 1,196, 970.00 1,196,970.00 1,361,061.50 164, 091.50
<br />12/15/2023 1,217,190.00 1,217,190.00 1,436,331.50 219,141.50
<br />12/15/2024 1,239,240.00 1,239,240.00 1,444,784.00 205,544.00
<br />12/15/2025 1,258,252.50 1,258,252.50 1,455,626.50 197,374.00
<br />12115/2026 1,279,047.50 1,279,047,50 . 1,493,641.50 214,594.00
<br />12/1512027 1,296,807.50 1,296,807.50 (25,1,18.50) (1,321,926.00)
<br />12/15/2028 1,316,382.50 1,316,382.50 (1,316,382.50)
<br />12/15/2029 ' 1,313,025.00 1,313,025.00 - (1,313,025.00)
<br />12/1512030 1,316,725.00 1,316,725.00 - (1,316,725.00)
<br />12/1512031 1,317,625.00 1,317,625.00 - (1,317,625.00)
<br />Total $23,628,586.97 $23,626,460.99 $21,760,944.57 (1,865,516.42)
<br />PV Analysis Summary (Net to Net)
<br />Gross PV Debt Service Savings 1,453,117.04
<br />Effects of changes in DSR Investments (1,460,249.78)
<br />Net PV Cashflow Savings J 2.872 %(Bond Yield) . (7,132.74)
<br />Contingency or Rounding Amount 2,125.98
<br />Net Present Value Loss $(5,006.76)
<br />Net PV Loss 1 $19,123,117.04 PV Refunded Debt Service (0.026 %)
<br />Net PV Loss 1 $17,040,000 Refunded Principal... (0.029 %)
<br />Net PV Loss 1 $17,670,000 Refunding Principal.. (0.028 %)
<br />Refunding Bond Information
<br />Refunding Dated Date
<br />Refunding Delivery Date
<br />05ref 1000 1 SINGLE PURPOSE 1 1/11/2012 1 1027 AM
<br />II Northland Securities
<br />Public Finance
<br />n, C -fit._
<br />Lam` C� e._
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<br />4/01/2012
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