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ATTACHMENT 5 City of Little Canada, Minnesota G.O. Refunding Bonds, Series 1993 Current Refunding Summary Partial Current Refunding of G.O. Improvement Bonds of 1978 Even Annual Savings Structure Refunding Bond Rating: A Refunding Delivery Date Sources / Uses Sources of Funds on: Refunding Principal: Accrued Interest Total Sources of Funds: 11/01/93 350,000.00 350,000.00 Uses of Funds on: Discount @ $7.00 : Acc. Int. & Unused Disc: Refunding Expenses: Investment to Call Date: Total Uses of Funds: 11/01/93 2,450.00 13,000.00 334,550.00 350,000.00 Refunded / Refunding Bond Comparison As of: 11/01/93 Refunded Statistics Refunding Statistics Principal: 910,000 350,000 Interest: 138,287 31,395 Bond Yrs: 2,487 943 Avg. Mat: 2.733 2.695 NIC: 5.56% 3.59% Prepared: 09/01/93 By SPRINGSTED Incorporated Date of Bonds: Delivery Date: 11/01/93 11/01/93 Refunded Call: 1st Callable: 01/01/94 01/01/95 Refunded Bond CaII Date Sources / Uses Sources of Funds on: Invest. Proceeds Mature: Inv. Earnings @ 2.75% : Funds from Issuer: Total Sources of Funds: 01/01/94 334,550.00 1,533.35 573,916.65 910,000.00 Uses of Funds on: Refunded Principal: Refunded Call Premium: Excess Proceeds: Total Uses of Funds: 01/01/94 910,000.00 910,000.00 Total Net Savings /Present Value Savings Future Savings: Less Funds From Issuer. Pius Accr. Int. to D/S Fund: Plus Exc. Proc. to D/S Fund: Total Net Savings: 658,504.58 573,916.65 84,587.93 Present Value Say @ 3.32%: 30,194.22 I As % ofP.V. Refunded Int.: 24.77% * *INTEREST RATES HAVE GONE EVEN LOWER. THEREFORE, SAVINGS SHOULD BE LARGER DEPENDING ON MARKET AT SALE DATE. ** Page 3