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$1,270,000
<br />`'' City of Pequot Lakes, Minnesota
<br />General Obligation Utility Refunding Bonds, Series 2012A
<br />Current Refunding of Series 2000A
<br />�
<br />Date
<br />02/01 /2013
<br />02/01 /2014
<br />02/01 /2015
<br />02/01 /2016
<br />02/01/2017
<br />ovo�i2o�a
<br />02/01 /2019
<br />02/01 /2020
<br />02/01 /2021
<br />02/01 /2022
<br />02/01l2023
<br />02/01 /2024
<br />02/01 /2025
<br />02/01 /2026
<br />02/01 /2027
<br />02/01 /2028
<br />02/01 /2029
<br />02/01/2030
<br />02/01/2031
<br />02/01 /2032
<br />02/01 /2033
<br />02/01 /2034
<br />02/01 /2035
<br />02/01 /2036
<br />02/01 /2037
<br />02/01 /2038
<br />02/01 /2039
<br />02/01 /2040
<br />Total
<br />Total P+I
<br />85,065.00
<br />84,640.00
<br />84,227.50
<br />88,677.50
<br />87,987.50
<br />87,147.50
<br />86,157.50
<br />85,017.50
<br />83,727.50
<br />87,347.50
<br />85,755.00
<br />84,065.00
<br />87,277.50
<br />85,247.50
<br />88,147.50
<br />85,822.50
<br />88,460.00
<br />85,820.00
<br />88,060.00
<br />$1,638,650.00
<br />PV Analysis Summary (Net to Net)
<br />Debt Service Comparison
<br />Net New LYS
<br />85,065.00
<br />84,640.00
<br />84,227.50
<br />88,677.50
<br />87,987.50
<br />87,147.50
<br />86,157.50
<br />85,017.50
<br />83,727.50
<br />87,347.50
<br />85,755.00
<br />84,065.00
<br />87,277.50
<br />85,247.50
<br />88,147.50
<br />85,822.50
<br />88,460.00
<br />85,820.00
<br />88,060.00
<br />$1,638,650.00
<br />Old Net D/S
<br />84,203.46
<br />&4,203.46
<br />84,203.46
<br />&4,203.46
<br />84,202.46
<br />&4,203.51
<br />84,203.51
<br />84,203.50
<br />84,203.50
<br />84,200.51
<br />84,203.64
<br />84,203.64
<br />84,203.64
<br />84,203.64
<br />84,203.65
<br />&4,203.64
<br />84,203.64
<br />&4,203.64
<br />&4,203.64
<br />84,203.64
<br />84,203.64
<br />&4,203.63
<br />&4,203.64
<br />84,203.64
<br />84,203.63
<br />&4,203.64
<br />84,203.64
<br />84,207.15
<br />$2,357,699.85
<br />Savings
<br />(861.54)
<br />(436.54)
<br />(24.04)
<br />(4,474.04)
<br />(3,785.04)
<br />(2,943.99)
<br />(1,953.99)
<br />(814.00)
<br />476.00
<br />(3,146.99)
<br />(1,551.36)
<br />138.64
<br />(3,073.86)
<br />(1,043.86)
<br />(3,943.85)
<br />(1,618.86)
<br />(4,256.36)
<br />(1,616.36)
<br />(3,856.36)
<br />84,203.64
<br />84,203.64
<br />84,203.63
<br />84,203.64
<br />84,203.64
<br />84,203.63
<br />84,203.64
<br />84,203.64
<br />84,207.15
<br />$719,049.85
<br />NetFV Cashflow Savings ................................................................................................................................ 719,049.85
<br />Gross W Debt Service Savings ...................................................................................................................... 327,108.38
<br />Net PV Cashflow Savings @ 3.293%(AIC) .................................................................................................... 327,108.38
<br />TotalCash contribution ..................................................................................................................................... (150,000.00)
<br />Contingencyor Rounding Amount .................................................................................................................... 1,691.58
<br />Net Future Value Benefit .................................................................................................................................. $570,741.43
<br />NetResent Value Benefit ................................................................................................................................ $178,799.96
<br />Net PV Benefit /$786,269.39 PV Refunded Interest ........................................................................................ 22.740°/a
<br />Net PV Benefit /$1,634,733.83 PV Refunded Debt Service ............................................................................ 10.938%
<br />Net PV Benefit/ $1,325,604 Refunded Rincipal ............................................................................................. 13.488%
<br />Net PV Benefft /$1,270,000 Refunding Principal ............................................................................................ 14.079%
<br />Refunding Bond Information
<br />RefundingDated Date ...................................................................................................................................... 8/01/2012
<br />RefundingDelivery Date ................................................................................................................................... 8/01/2012
<br />�' 20l2A RefBonds 2000A i 1000A Current Rejundmg i, 513 70(2 �, 2 aSPM
<br />: Springsted
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