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Final
<br />City of Ramsey, Minnesota
<br />G.O. Improvement Crossover Refunding Bonds, Series 2011B
<br />2005B
<br />Debt Service Comparison
<br />Date Total P+I PCF Existing D/S Net New D/S Old Net D/S Savings
<br />12/15/2012 70,475.63 (70,475.63) 340,812.50 337,745.99 340,812.50 3,066.51
<br />12/15/2013 67,837.50 (67,837.50) 339,162.50 339,162.50 339,162.50
<br />12/15/2014 67,837.50 (2,962,837.50) 3,236,362.50 341,362.50 341,362.50 -
<br />12/15/2015 322,837.50 - 322,837.50 338,162.50 15,325.00
<br />12/15/2016 322,737.50 - - 322,737.50 339,237.50 16,500.00
<br />12/15/2017 322,537.50 - - 322,537.50 339,337.50 16,800.00
<br />12/15/2018 322,237.50 - 322,237.50 338,987.50 16,750.00
<br />12/15/2019 321, 837.50 - 321, 837.50 338,187.50 16, 350.00
<br />12/15/2020 321,337.50 - 321,337.50 336,937.50 15,600.00
<br />12/15/2021 320,737.50 - 320,737.50 335,237.50 14,500.00
<br />12/15/2022 319, 752.50 - - 319, 752.50 338, 087.50 18, 335.00
<br />12/15/2023 318,227.50 - 318,227.50 335,262.50 17,035.00
<br />12/15/2024 321,147.50 - - 321,147.50 336,987.50 15,840.00
<br />12/15/2025 318,370.00 - - 318,370.00 338,812.50 20,442.50
<br />Total $3,737,910.63 (3,101,150.63) $3,916,337.50 $4,550,030.99 $4,736,575.00 $186,544.01
<br />PV Analysis Summary (Net to Net)
<br />Gross PV Debt Service Savings 153,958.54
<br />Net PV Cashflow Savings @ 2.085%(Bond Yield) 153,958.54
<br />Contingency or Rounding Amount 3,066.51
<br />Net Present Value Benefit $157,025.05
<br />Net PV Benefit / $3,095,742.54 PV Refunded Debt Service 5.072%
<br />Net PV Benefit / $2,895,000 Refunded Principal... 5.424%
<br />Net PV Benefit / $3,090,000 Refunding Principal.. 5.082%
<br />Refunding Bond Information
<br />Refunding Dated Date 12/01/2011
<br />Refunding Delivery Date 12/29/2011
<br />05bref I SINGLE PURPOSE 112/ 5/2011 1 12:05 PM
<br />Northland Securities
<br />Public Finance
<br />Page 2
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