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Final <br />City of Ramsey, Minnesota <br />G.O. Improvement Crossover Refunding Bonds, Series 2011B <br />2005B <br />Refunding Summary <br />Dated 12/01/2011 I Delivered 12/29/2011 <br />Sources Of Funds <br />Par Amount of Bonds <br />Reoffering Premium <br />Accrued Interest from 12/01/2011 to 12/29/2011 <br />Total Sources <br />Uses Of Funds <br />Deposit to Crossover Escrow Fund <br />Total Underwriter's Discount (1.600%) <br />Costs of Issuance <br />Rounding Amount <br />Total Uses <br />Flow of Funds Detail <br />$3, 090, 000.00 <br />45,567.35 <br />5,276.25 <br />$3,140,843.60 <br />3, 068, 692.09 <br />49,440.00 <br />19,645.00 <br />3,066.51 <br />$3,140,843.60 <br />State and Local Government Series (SLGS) rates for 12/05/2011 <br />Date of OMP Candidates <br />Crossover Escrow Fund Solution Method <br />Total Cost of Investments <br />Interest Earnings @ 0.366% <br />Total Draws <br />Issues Refunded And Call Dates <br />Net Funded <br />$3, 068, 692.09 <br />32,458.54 <br />$3,101,150.63 <br />05bold 12/15/2014 <br />PV Analysis Summary (Net to Net) <br />Net PV Cashflow Savings @ 2.085%(Bond Yield) <br />Contingency or Rounding Amount <br />Net Present Value Benefit <br />Net PV Benefit / $2,895,000 Refunded Principal <br />Net PV Benefit / $3,090,000 Refunding Principal <br />Bond Statistics <br />Average Life <br />Average Coupon <br />Net Interest Cost (NIC) <br />Bond Yield for Arbitrage Purposes <br />True Interest Cost (TIC) <br />All Inclusive Cost (AIC) <br />05bref I SINGLE PURPOSE 112/ 5/2011 1 12:05 PM <br />153, 958.54 <br />3,066.51 <br />$157, 025.05 <br />5.424% <br />5.082% <br />9.154 Years <br />2.2906645% <br />2.3043561 % <br />2.0851035% <br />2.2795269% <br />2.3578575% <br />Northland Securities <br />Public Finance <br />Page 1 <br />