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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 />Maturity <br />06/18/2015 <br />12/01/2016 <br />12/01/2017 <br />12/01/2018 <br />12/01/2019 <br />12/01/2020 <br />12/01/2021 <br />12/01/2022 <br />12/01/2023 <br />12/01/2024 <br />12/01/2025 <br />Total <br />Issuance <br />Value <br />Price <br />115,000.00 100.000% <br />115,000.00 100.000% <br />120,000.00 100.000% <br />120,000.00 100.000% <br />120,000.00 100.000% <br />125,000.00 100.000% <br />125,000.00 100.000% <br />130,000.00 100.000% <br />130,000.00 100.000% <br />135,000.00 100.000% <br />$1,235,000.00 <br />Issuance <br />Price Exponent Bond Years <br />115,000.00 1.4527778x 167,069.44 <br />115,000.00 2.4527778x 282,069.44 <br />120,000.00 3.4527778x 414,333.33 <br />120,000.00 4.4527778x 534,333.33 <br />120,000.00 5.4527778x 654,333.33 <br />125,000.00 6.4527778x 806,597.22 <br />125,000.00 7.4527778x 931,597.22 <br />130,000.00 8.4527778x 1,098,861.11 <br />130,000.00 9.4527778x 1,228,861.11 <br />135,000.00 10.4527778x 1,411,125.00 <br />$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 1 2/23/2015 14:01 PM <br />4) EHLERS <br />LEADERS IN PUBLIC FINANCE <br />