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City of Pequot Lakes,Minnesota Preliminary
<br /> E 1,110,000 ADJACENT STREET/UTILITY PORTION
<br /> General Obligation Tax Abatement Bonds,Series 2018A
<br /> Uses of Funds Bond Details
<br /> Set Sale Date 8/7/2018
<br /> AdjaceM StreeUUtility ImprovemeMs 838,850 Sale Date 9/4/2018
<br /> Corrtingency 79,900 Dated Date 9/18/2018
<br /> Engineering 167,770 Closing Date 9/18/2018
<br /> Total Project Costs 1,086,520 1st Interest Payment 8/1/2019
<br /> UnderwrRer's Discount Allowance 0.00% - Proceeds spent by: 12J31/2019
<br /> Pro rated Portion of Issuance Costs 24,328 �o oered oare
<br /> Fiscal Fee - Purchase Price 1,302,000.00
<br /> Bond Counsel - Net Irrterest Cost 476,80626
<br /> Pay AgenURegistrar - Net Effective Rate 3.5622%
<br /> PriMing 8 Misc - Average Coupon 3.5622%
<br /> Rating Fee - Yield
<br /> Capdalized Interest - Average Life 12.0586
<br /> Abatement - Call Option 2/1/2026
<br /> Rounding 1,364 Purchaser TBD
<br /> 1,112,212 Borxl Coursel Briggs 8 Morgan,PA
<br /> Pay Agent Northland Trust
<br /> Sources of Funds Tax Status Tax Exempt,Bank�ualified
<br /> Bond Issue 1,110,000 Continuing Disclosure Limited
<br /> Secured Donations(on harxl) - Rebate $5 million Small Issuer Exemption
<br /> Cash Contribution 0 Statutory Authority M S.469 8 475
<br /> NJPA CoMribution 2,212
<br /> 1,112.212
<br /> Payment Schedule 8 Cashflow
<br /> Payment Schedule Pledged Revenues Account Balances
<br /> 12-Month Interest Payment plus5% Collection Abatement Water SanitarySewer Surplus Account
<br /> Period ending Principal Rate IMerest Total Coverage Year Levy' Funds Funds (deficit) Balance
<br /> 9/18/2018 Deposit to Debt Service at Closing> 1,364
<br /> 2/1/2020 30,000 2.45% 50,991 80,991 85,041 2019 55,500 14,089 14,089 - (1,364) -
<br /> 2/1/2021 40,000 2.45% 36,500 76,W0 80,325 2020 55,500 12,413 12,413 - - -
<br /> 2/1/2022 45,000 2.60% 35,520 80,520 84,546 2021 55,500 14,523 14,523 - - -
<br /> 2/1/2023 45,000 2.70% 34,350 79,350 83,318 2022 55,500 13,909 13,909 - - -
<br /> 2/1/2024 45,000 2.80% 33,135 78,135 82,042 2023 55,500 13,271 13,271 - - -
<br /> 2/1/2025 50,000 2.90% 31,875 87,875 85,969 2024 55,500 15,234 15,234 - - -
<br /> 2/1/2026 50,000 3.00% 30,425 80,425 84,446 2025 55,500 14,473 14,473 - - -
<br /> 2/1/2027 50,000 3.10% 28,925 78,925 82,871 2026 55,500 13,686 13,686 - - -
<br /> 2/1/2028 50,000 3.20% 27,375 77,375 81,244 2027 55,500 12,872 12,872 - - -
<br /> 2/1/2029 55,000 3.30% 25,775 80,775 84,814 2028 55,500 14,657 14,657 - - -
<br /> 2/1/2030 55,000 3.40% 23,960 78,960 82,908 2029 55,500 13,704 13,704 - - -
<br /> 2/1/2031 55,000 3.50% 22,090 77,090 80,945 2030 55,500 12,722 12,722 - - -
<br /> 2/1/2032 60,000 3.55% 20,165 80,165 84,173 2031 55,500 14,337 14,337 - - -
<br /> 2/1/2033 60,000 3.60% 18,035 78,035 81,937 2032 55,500 13,218 13,218 - - -
<br /> 2/1/2034 65,000 3.65% 15,875 80,875 84,919 2033 55,500 14,709 14,709 - - -
<br /> 2/1/2035 65,000 3.70% 13,503 78,503 82,428 2033 55,500 13,464 13,464 - - -
<br /> 2/1/2036 70,000 3.75% 11,098 81,098 85,152 2033 55,500 14,826 14,826 - - -
<br /> 2/1/2037 70,000 3.80% 8,473 78,473 82,396 2034 55,500 13,448 13,448 - - -
<br /> 2/1/2038 75,000 3.85% 5,813 80,813 84,853 2035 55,500 14,677 14,677 - - -
<br /> 2/1/2039 75,000 3.90% 2,925 77,925 81,821 2036 55,500 13,161 13,161
<br /> 1,110,000 476,806 1,586,806 1,666,147 1,110,000 277,391 277,391 (1,364)
<br /> "Abatement only needs to cover the principal
<br /> David Drown Associates,Inc. Master Cash Flow-FINAL
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