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City of Ramsey, Minnesota <br />$635,000 <br />General Obligation Equipment Certificates of Indebtedness, <br />Series 2013A <br />FINANCING OVERVIEW <br />The Finance Plan we have developed along with City staff contemplates financing for the City's <br />2013 capital equipment purchases. Funding is proposed to come from the issuance of general <br />obligation equipment certificates. The Certificates will be issued pursuant to Minnesota statutes <br />475 and 412.301. <br />The City's total cost of equipment is estimated at $599,000. The source of funding is General <br />Obligation Equipment Certificates in the amount of $635,000 which includes the costs of issuing <br />the Certificates. The proposed level debt service structure shown in Exhibit A assumes a current <br />average interest rate of 2.61%. The estimated interest rate assumes the bonds are not "bank <br />qualified" due to the PACT financing later this year. <br />The total estimated sources and uses are as follows: <br />Sources & Uses <br />Dated 09/01/2013 1 Delivered 09/01/2013 <br />Sources Of Funds <br />Par Amount of Bonds <br />Total Sources <br />Uses Of Funds <br />Total Costs of Issuance <br />Deposit to Project Construction Fund <br />Rounding Amount <br />Total Uses <br />$635,000.00 <br />$635,000.00 <br />35,250.00 <br />599,000.00 <br />750.00 <br />$635,000.00 <br />Page 2 <br />NORTHLAND <br />SECURITIES <br />