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City of Ramsey, Minnesota <br />$875,000 General Obligation Bonds, Series 2014A <br />Assumes Current Market BQ AA+ Rates plus 25bps <br />Dec 15th Principal Payments <br />Derivation Of Form 8038 Yield Statistics <br />Maturity <br />11/15/2014 <br />12/15/2015 <br />12/15/2016 <br />12/15/2017 <br />12/15/2018 <br />12/15/2019 <br />12/15/2020 <br />12/15/2021 <br />12/15/2022 <br />12/15/2023 <br />12/15/2024 <br />Total <br />Issuance <br />Value <br />Price <br />Issuance <br />Price Exponent Bond Years <br />80,000.00 100.000% 80,000.00 1.0833333x 86,666.67 <br />85,000.00 100.000% 85,000.00 2.0833333x 177,083.33 <br />85,000.00 100.000% 85,000.00 3.0833333x 262,083.33 <br />85,000.00 100.000% 85,000.00 4.0833333x 347,083.33 <br />85,000.00 100.000% 85,000.00 5.0833333x 432,083.33 <br />85,000.00 100.000% 85,000.00 6.0833333x 517,083.33 <br />90,000.00 100.000% 90,000.00 7.0833333x 637,500.00 <br />90,000.00 100.000% 90,000.00 8.0833333x 727,500.00 <br />95,000.00 100.000% 95,000.00 9.0833333x 862,916.67 <br />95,000.00 100.000% 95,000.00 10.0833333x 957,916.67 <br />$875,000.00 <br />$875,000.00 $5,007,916.67 <br />IRS Form 8038 <br />Weighted Average Maturity = Bond Years/Issue Price 5.723 Years <br />Total Interest from Debt Service 101,315.63 <br />Total Interest 101,315.63 <br />NIC = Interest / (Issue Price * Average Maturity) 2.0231093% <br />Bond Yield for Arbitrage Purposes 2.0106491% <br />2014 GO Bonds - PreSale R I Equipment Portion 111/ 5/2014 1 12:30 PM <br />eLEADERS IN PUBLIC FINANCE <br />EHLERS <br />