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City of Pequot Lakes,Minnesota Preliminary
<br /> $2,390,000 TRAILSIDE PARK PORTION ONLY
<br /> General Obligation Tax Abatement Bonds,Series 2018A
<br /> Uses of Funds Bond Details
<br /> Trailside Park Project 1,998,508 Set Sale Date 8/7/2018
<br /> Adjacent StreetlUtildy Improvements - Sale Date 9/4/2018
<br /> Corrtingency 199,851 Dated Date 9/18/2018
<br /> Engineering 399,702 Closing Date 9/18/2018
<br /> Total Project Costs 2,598,060 1st IMerest Payment 8/1/2019
<br /> Underwriter's Discount Allowance 0.00% - Proceeds spent by: 12/31/2019
<br /> Pro rated Portion of Issuance Costs 58.172 ro Dated De(e
<br /> Fiscal Fee - Purchase Price 1,302,000.00
<br /> Bond Counsel - Net Interest Cost 1,028,298.14
<br /> Pay AgenURegistrar - Net Effective Rate 3.5627%
<br /> Printing&Misc - Average Coupon 3.5627%
<br /> Rating Fee - Yield
<br /> Capitalized Interest - Average Life 12.0766
<br /> Abatement 1,000 CallOption 2/t/2026
<br /> Rounding 3,055 Purchaser TBD
<br /> 2,660,288 Bond Counsel Briggs&Morgan,PA
<br /> Pay Agent Northland Trust
<br /> Sources of Funds Tax Status Tax Exempt,Bank Qualfiied
<br /> Bond Issue 2,390,000 Continuing Disclosure Limited
<br /> Secured Donations(on hand) 265,000 Rebate $5 million Small Issuer Exemption
<br /> Cash Contribution 0 Statutory Authority M.S.469&475
<br /> NJPA Contribution 5,288
<br /> 2,660,288
<br /> Payment Schedule&Cashflow
<br /> Payment Schedule Pledged Revenues Account Balances
<br /> 12-MorKh Interest Payment plus 5% Collection Abatement Tax Sandary Sewer Water Surplus Account
<br /> Period ending Principal Rate Interest Total Coveraqe Year Levy' Levies Revs Revs (deficd) Balance
<br /> 9/18/2018 Deposit to Debt Service at Closirg> 3,055
<br /> 2/1/2020 60,000 2.45% 109,843 169,843 178,335 2019 119,500 55,780 - (3,055) -
<br /> 2/1/2021 90,000 2.45% 78,740 768,740 177,177 2020 119,500 57,677 - - -
<br /> 2/1/2022 95,000 2.60% 76,535 171,535 180,112 2021 119,500 60,612 - - -
<br /> 2/1/2023 95,000 2.70% 74,065 769,065 177,518 2022 119,500 58,018 - - -
<br /> 2/1/2024 100,000 2.80% 71,500 171,500 180,075 2023 119,500 60,575 - - -
<br /> 2/1/2025 105,000 2.90% 68,700 173,700 182,385 2024 119,500 62,885 - - -
<br /> 2/1/2026 105,000 3.00% 65,655 770,655 179,188 2025 119,500 59,688 - - -
<br /> 2/t/2027 110,000 3.10% 62,505 172,505 181,130 2026 119,500 61,630 - - -
<br /> 2/1/2028 110,000 320% 59,095 169,095 177,550 2027 119,500 58,050 - - -
<br /> 2/1/2029 115,000 3.30% 55,575 170,575 179,104 2028 119,500 59,604 - - -
<br /> 2/1/2030 120,000 3.40% 51,780 171,780 180,369 2029 119,500 60,869 - - -
<br /> 2/1/2031 125,000 3.50% 47,700 172,700 181,335 2030 119,500 61,835 - - -
<br /> 7J1/2032 130,000 3.55% 43,325 173,325 181,991 2031 119,500 62,491 - - -
<br /> 2/1/2033 130,000 3.60% 38,710 168,710 177,146 2032 119,500 57,646 - - -
<br /> 2/1/2034 135,000 3.65% 34,030 169,030 177,482 2033 119,500 57,982 - - -
<br /> 2l1/2035 140,000 3.70% 29,103 169,103 177,558 2033 119,500 58,058 - - -
<br /> 2/1/2036 145,000 3.75% 23,923 168,923 177,369 2033 119,500 57,869 - - -
<br /> 2/1/2037 155,000 3.80% 18,485 173,485 182,159 2034 119,500 62,659 - - -
<br /> 2l1/2038 160,000 3.85% 12,595 172,595 181,225 2035 119,500 61,725 - - -
<br /> 2/1/2039 165,000 3.90% 6,435 177,435 180,007 2036 119,500 60,507
<br /> 2,390,000 1,028,298 3,418,298 3,589,213 2,390,000 1,196,158 (3,055)
<br /> 'Abatement only needs to cover the principal
<br /> David Drown Assxiates,Inc. Master Cash Flow-FINAL
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