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<br /> City of Pequot Lakes,Minnesota
<br /> Cash Flow Analysis/Debt Service Schedule E H L E R S
<br /> (Financing Industrial Park Improvement Bonds) s •s s o c n r r s n c
<br /> Shelly Eldridge/Sid Inman
<br /> Financial Advisors
<br /> 651.697.8504/8507
<br /> 1-800-552-1171
<br /> Sale Details General Obligation Improvement Bonds,Series 2004 Special Assessments
<br /> Sale 3-May Par Amount of Bonds 340,000 Amount 242,855
<br /> Estimated Closing 28-May Total Sources 340,000 Deferred 138,407
<br /> Dated 5/282004 Assessed 104,448
<br /> 1st Interest 211/2005 Total Underwriter's Discount (1.500%) 5,100 Rate(2%over bond rate) 6.35%
<br /> Interest Feb/Aug Costs of Issuance 10,000 Term 10
<br /> Deposit to Capitalized Interest(CIF)Fund 0 Start Year(Levy/Collect) 20042005
<br /> Construction Costs 322,721' Assessed/Project 75%
<br /> Rounding Amount 2,179 Assessed/Bond Issue 71%
<br /> Total Uses 340,000 Calculation Method Equal P&I
<br /> Principal Lonesome Actual
<br /> Levy Collect Payment Bond Bond Bond Total Total Assmt Interest TIF Cottage Lot Land Sale Annual Cummulative
<br /> Year Year Date Principal Rate Interest P&I +6.00% Revenue Revenue Revenue" Note Number Revenue Over/(short) Over/(short)
<br /> 7/1/2004 (34,516)
<br /> 2003 2004 2/1/2005 8,088 8,088 8,493 1,208 9,932 Lot B13 48,600 51,652 17,136
<br /> 2004 2005 211/2006 25,000 2.10% 12,133 37,133 38,989 14,225 5,180 5,262 0.00 Lot B14 54,968 42,503 59,638
<br /> 2005 2006 2/12007 30,000 2.40% 11,608 41,608 43,688 14,225 3,494 25,597 0.00 1,709 61,347
<br /> Lot 2 BI 2
<br /> Lot 3 BI 2
<br /> 2006 2007 2/12008 30,000 3.00% 10,888 40,888 42,932 14,225 3,400 14,555 0.00 Lot B12 96,795
<br /> Lot 5 BI 2
<br /> Lot 3 BI 1 88,087 149,434
<br /> 2007 2008 2/12009 30,000 3.25% 9,988 39,988 41,987 14,225 4,000 10,660 0.00 (13,102) 136,332
<br /> 2008 2009 2/1/2010 30,000 3.50% 9,013 39,013 40,963 14,225 3,690 10,660 0.00 (12,388) 123,944
<br /> 2009 2010 2/12011 35,000 4.00% 7,963 42,963 45,111 14,225 3,600 - 24,833.57 0 - (2,452) 121,492
<br /> 2010 2011 21112012 35,000 4.00% 6,563 41,563 43,641 14,225 3,570 24,833.57 0 - (1,012) 120,480
<br /> 2011 2012 2/12013 40,000 4.00% 5,163 45,163 47,421 14,225 3,440 24,833.57 0 - (4,922) 115,558
<br /> 2012 2013 2/1/2014 40,000 4.13% 3,563 43,563 45,741 14,225 3,330 24,833.57 0 - (3,352) 112,206
<br /> 2013 2014 2/1/2015 45,000 4.25% 1,913 46,913 46,913 14,225 3,100 24,833.57 (4,754) 107,452
<br /> 340,000 86,878 426,878 445,877 142,250 38,012 76,666 124,168 200,363 141,968
<br /> Includes engineering,administration,and contingency.
<br /> 90%of District 1-8 and 1-10 based on P2006 collections 2004,2005,2006 and 2007 actuals as of 10/152007.
<br /> 2004lmprovment Cashflow updated 10.09.2007.xis Estimates Only 10/152007
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