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City of Pequot Lakes,Minnesota E H L E R S
<br /> Cash Flow Analysis/Debt Service Schedule ( 8 R S S O C I A T E S I N C
<br /> (Financing Industrial Park Improvement Bonds)
<br /> Shelly Eldridge/Sid Inman
<br /> Financial Advisors
<br /> 651-697-8504/8507
<br /> 1-800552-1171
<br /> Sale Details General Obligation Improvement Bonds,Series 2004 Special Assessments
<br /> Sale 3-May Par Amount of Bonds 340,000 Amount(4 lots at$25,000) 100,000
<br /> Estimated Closing 28-May Total Sources 340,000 Rate(2%over bond rate) 6.35%
<br /> Dated 5/28/2004 Term 10
<br /> 1 st Interest 2/12005 Total Underwriter's Discount (1.500%) 5,100 Start Year(Levy/Collect) 2004/2005
<br /> Interest Feb/Aug Costs of Issuance 10,000 Assessed/Project 31%
<br /> Deposit to Capitalized Interest(CIF)Fund 0 Assessed/Bond Issue 29%
<br /> Construction Costs 322,721 Calculation Method Equal P&I
<br /> Rounding Amount 2,179
<br /> Total Uses 340,000
<br /> Principal Needed From
<br /> Levy Collect Payment Bond Bond Bond Total Total Assmt Assmt Total TIF Land Sale No Lots Land Sale Annual Cummulative
<br /> Year Year Date Principal Rate Interest P&I +5.00% Principal Interest Revenue Revenue" Revenue to Sell Revenue Over/(short) Over/(short)
<br /> 7/1/2004
<br /> 2003 2004 2/12005 9,860 9,860 10,353 9,932
<br /> (421) (421)
<br /> 2004 2005 2/1/2006 25,000 4.35% 14,790 39,790 41,780 (7,463) (6,350) (13,813) 9,932 14,153.53 Lot 4BI3 48,600 30,565 30,144
<br /> 2005 2006 2/112007 30,000 4.35% 13,703 43,703 45,888 (7,937) (5,876) (13,813) 9,932 18,261.65 (22,143) 8,002
<br /> 2006 2007 2/12008 30,000 4.35% 12,398 42,398 44,517 (8,441) (5,372) (13,813) 9,932 16,891.40 Lot 3 BI 1 53,400 32,628 40,629
<br /> 2007 2008 21112009 30,000 4.35% 11,093 41,093 43,147 (8,977) (4,836) (13,813) '9,932 15,521.15 (19,402) 21,227
<br /> 2008 2009 2/1/2010 30,000 4.35% 9,788 39,788 41,777 (9,547) (4,266) (13,813) 9,932 14,150.90 (18,032) 3,195
<br /> 2009 2010 2/1/2011 35,000 4.35°x6 8,483 43,483 45,657 (10,153) (3,660) (13,813) 8,074 18,030.65 Lot 3Bl4 48,900 25,130 28,326
<br /> 2010 2011 2/12012 35,000 4.35% 6,960 41,960 44,058 (10,798) (3,015) (13,813) 16,432.03 Lot 1 BI 2 55,500 25,255 53,581
<br /> 2011 2012 2/12013 40,000 4.35% 5,438 45,438 47,709 (11,484) (2,329) (13,813) 20,083.40 (33,896) 19,684
<br /> 2012 2013 2/1/2014 40,000 4.35% 3,698 43,698 45,882 (12,213) (1,600) (13,813) 18,256.40 Lot 2Bl2 52,200 20,131 39,815
<br /> 2013 2014 2/1/2015 45,000 4.35% 1,958 46,958 46,958 (12,988) (825) (13,813) 19,331.53 (33,145) 6,670
<br /> 340,000 98,165 438,165 457,725 (100,000) (38,130) (138,130) 67,666 171,113 258.600 6.670
<br /> Includes engineering,administration,and contingency.
<br /> '•90%of District 1-8 and 1-10 based on P2003 collections.
<br /> Project Cost Summary
<br /> Bid 268,934
<br /> Contingency @ 10% 26,893
<br /> Admin @ 2% 5,379
<br /> Contr Observation&Staking @ 8% 21,515
<br /> 322,721
<br /> Prepared by Ehlers&Associates,Inc. Estimates Only gf72004
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