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City of Ramsey, Minnesota <br />$1,235,000 General Obligation Street Reconstruction Bonds, Series 2015B <br />Assumes Current Market BQ AA+ Rates plus 25bps <br />10 Years <br />Derivation Of Form 8038 Yield Statistics <br />Issuance Issuance <br />Maturity Value Price Price Exponent Bond Years <br />06/18/2015 - - - <br />12/01/2016 115,000.00 100.000% 115,000.00 1.4527778x 167,069.44 <br />12/01/2017 115,000.00 100.000% 115,000.00 2.4527778x 282,069.44 <br />12/01/2018 120,000.00 100.000% 120,000.00 3.4527778x 414,333.33 <br />12/01/2019 120,000.00 100.000% 120,000.00 4.4527778x 534,333.33 <br />12/01/2020 120,000.00 100.000% 120,000.00 5.4527778x 654,333.33 <br />12/01/2021 125,000.00 100.000% 125,000.00 6.4527778x 806,597.22 <br />12/01/2022 125,000.00 100.000% 125,000.00 7.4527778x 931,597.22 <br />12/01/2023 130,000.00 100.000% 130,000.00 8.4527778x 1,098,861.11 <br />12/01/2024 130,000.00 100.000% 130,000.00 9.4527778x 1,228,861.11 <br />12/01/2025 135,000.00 100.000% 135,000.00 10.4527778x 1,411,125.00 <br />Total $1,235,000.00 - $1,235,000.00 $7,529,180.56 <br />IRS Form 8038 <br />Weighted Average Maturity = Bond Years/Issue Price 6.097 Years <br />Total Interest from Debt Service 144,311.41 <br />Total Interest 144,311.41 <br />NIC = Interest / (Issue Price * Average Maturity) 1.9166948% <br />Bond Yield for Arbitrage Purposes 1.9070086% <br />2015B GO Street Reconstru I SINGLE PURPOSE I 2/23/2015 1 4:01 PM <br />11911 LEADERS IN PUBLIC FINANCE <br />EHLERS <br />