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City of Pequot Lakes,Minnesota 1n2o22 <br /> $176,000 <br /> General Obligation Equipment Certificate,2022A <br /> (MN Rural Water Micro-Loan) FINAL kvA ®I <br /> RURAL WATER <br /> ASSOCIATION <br /> Bond Details Closing Amounts and Allocations <br /> Dated Date 2/15/2022 Purchase Price 176,000.00 <br /> Sale Date Council Passes Resolution) 2/1/2022 plus accrued interest 0 days - <br /> Closing Date 2/15/2022 Net Proceeds 176,000.00 <br /> 1st Interest Payment 2/1/2023 <br /> Proceeds spent by... 12/31/2022 Closing by(cashier check or wire transfer) cashier check <br /> Call Option in whole only,0.5%penalty thru 2/1/2024 Amount to Borrower 170,950.00 <br /> Authority M.S.412,475 Amount to David Drown Associates,Inc. 2,750.00 <br /> Tax Status Tax-exempt,Bank Qualified Amount to Taft Law 1,750.00 <br /> Continuing Disclosure none Amount to MN Rural Water Association 550.00 <br /> Rebate Exempt,$5 million small issuer 176,000.00 <br /> Participants Funds and Allocations <br /> Purchaser Bank of Zumbrota,Minnesota Deposit to Construction Fund 170,859.00 <br /> Bond Counsel Taft Law Deposit to Debt Service Fund 91.00 <br /> Financial Advisor David Drown Associates,Inc. 170,950.00 <br /> Pay Agent Clerk <br /> Financial Statistics Statutory Tests&Limits <br /> Net Effective Rate(calculated to dated date) 2.400% Population(>200) 2,341 <br /> Average Coupon 2.400% Estimated Outstanding GO Debt(including this issue) 3,003,874 <br /> Issue Price 176,000.00 Debt per capita 1283 <br /> Weighted Average Maturity(to close) 4.5861 Debt to EMV 0.89% <br /> Yield(calculated to closing date) 2.3971% Borrowing>0.25%of EMV? EMV» $ 338,554,500 NO <br /> Publication Required? NO <br /> David Drown Associates,Inc. DETAILS <br />