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City of Pequot Lakes,Minnesota Master Cash Flow
<br /> Proposed for Competitive Sale
<br /> 52,115,000
<br /> General Obligation Utility Revenue and Disposal System Bonds, 2020A
<br /> Uses of Funds Bond Detaila
<br /> Utility Related Construction 805,792 Set Sale Date 3/5/2020
<br /> Sewer Disposal 835,000 Sale Date 4/7l2020
<br /> Non Utility Related(Street) 756,000 Dated Date 4/27/2020
<br /> Subtotal Construction 2,396,792 Closing Date 4/27I2020
<br /> Engineenng(design,construction,study,geotech) 384,497 1st Interest Payment 2l1/2021
<br /> Contingency 150,000 Proceeds spent by 12/31/2021
<br /> Legal/RW/Admmishation 50,000 ro Deted Defe
<br /> Total ProJect Coata 2,981,288 Purchase Pnce 2,088,562 50
<br /> Undervvrder's Discount Allowance 1 25% 26,438 Net Interest Cost 429,056 19
<br /> Unused Underwriter's Discount Allowance - Net Effective Rate 2•286�'�•
<br /> Financial Advisor Ver6ied 16,000 Average Coupon 2 146%
<br /> Bond Counsel VerA�ed 10,000 Average Life 8 8��6
<br /> Pay Agent Setup Ver6�ed 750 Call Option 2�1�2�29
<br /> Miscellaneous Ver6red 1,500 Purchaser Proposed for Competitrve Sale
<br /> Rating Agency Fee Eshmafe 11,500 Bond Counsel Taft Stettmius 8 Hollister LLP
<br /> Capitalized Interest 14,320 Rating Agency S 8 P Global Ratings,Inc
<br /> Rounding 3,704 Pay Agent Northland Trust Services,Inc
<br /> 3,065,500 Discbsure Limited
<br /> Authonty MS 115,444 and 475
<br /> Sources of Funds
<br /> Bondissue 2,115,000
<br /> Bid Premium '
<br /> Sourcewell Contnbution 7,500
<br /> City Contribution(Fund 402-371 Tumback Funds) 943,000
<br /> Construction Fund Eamings(excess proceeds) -
<br /> 3,065,500
<br /> Payment Sch�dule 8 Caahflow
<br /> Payment Schedule Revenues Account Balances
<br /> 12-Month Payment TOTAL Collection Water Sewer Tax Surplus Account
<br /> Period endinq Pnnapal Rate Interest Total PLUS 5� Year Revenues Revenues Lev�es (deficit) Balance
<br /> 4/27I2020 Unused Discount 8 accrued interest> 18,024
<br /> 2!1/2021 30,000 155% 28,641 58,641 60,857 2020 23,101 23,101 - (14,656) 3,368
<br /> 2/1I2022 125,000 155% 41,793 166,793 175,132 2021 42,349 42,349 87,066 (3,368) -
<br /> 2I1I2023 125,000 160% 39,855 164,855 173,098 2022 41,861 41,861 89,376 - -
<br /> 2/1I2024 130,000 165% 37,855 167,855 176,248 2023 43,982 43.982 88.284 - -
<br /> 2l1/2025 130,000 170% 35,710 165,710 173,996 2024 43,419 43,419 87,158 - -
<br /> 2l1/2026 130,000 175% 33,500 163,500 171,675 2025 42,839 42,839 85,998 - -
<br /> 2/1/2027 135,000 1.80% 31,225 166,225 174,536 2026 42,242 42,242 90,053 - -
<br /> 2/1/2028 135,000 1.90% 28,795 163,795 171,985 2027 41,627 41,627 88.730 - -
<br /> 2/1/2029 140,000 195% 26,230 166,230 174,542 2028 43,604 43,604 87,334 - -
<br /> 2/1I2030 140,000 205% 23,500 163,500 171,675 2029 42,887 42,887 85,901 - -
<br /> 2/1I2031 140,000 215% 20,630 160.630 16E,662 2030 42,134 42,134 84,394 - -
<br /> 2/1I2032 140,000 220% 17,620 157,620 165,501 2031 41,344 41,344 82,814 - -
<br /> 2/1/2033 150,000 2 25% 14,540 164,540 172,767 2032 43,160 43.160 86,447 - -
<br /> 2/1I2034 150,000 2 35% 11,165 161,165 169,223 2033 42,274 42,274 84,675 - -
<br /> 2/1/2035 155,000 2.40% 7,640 162,640 170,772 2034 41,349 41,349 88,074 - -
<br /> 2/1/2036 160,000 2 45% 3,920 163,920 172,116 2035 43,029 43,029 86,058 - -
<br /> 2,115,000 402,619 2,517,619 2,642,7a4 661,200 661200 1.302,360 (18,024)
<br /> David Drown Associates,Inc
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