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lCity of Little Canada, Minnesota Prepared: 10/27/93 <br />G.O. Refunding Bonds, Series 1993B By SPRINGSTED Incorporated <br />Current Refunding Summary <br />Partial Current Refunding of <br />G.C. Improvement Bonds of 1978 <br />Even Annual Savings Structure <br />Refunding Bond Rating: A <br />Refunding Delivery Date Sources / Uses <br />Sources of Funds on: <br />Refunding Principal: <br />Accrued Interest: <br />Total Sources of Funds: <br />11129/93 <br />350,000.00 <br />899.89 <br />350,899.89 <br />Uses of Funds on <br />Discount @ $5,94 : <br />Acc. Int. & Unused Disc: <br />Refunding Expenses: <br />Investment to Call Date: <br />Total Uses of Funds: <br />11/29/93 <br />2,079.00 <br />1,270.89 <br />12,750.00 <br />334,800.00 <br />350,899.89 <br />Refunded / Refunding Bond Comparisons <br />As of: <br />11/01/93 <br />Refunded <br />Statistics <br />Refunding <br />• Statistics <br />Principal: <br />Interest: <br />Bond Yrs: <br />Avg. Mat: <br />NIC: <br />910,000 <br />138,287 <br />2,487 <br />2.733 <br />5.55% <br />350,000 <br />32,058 <br />943 <br />2.695 <br />3.62% <br />Page 1 <br />Date of Bonds: <br />Delivery Date: <br />Refunded Call: <br />1st Callable: <br />11/01/93 <br />11/29/93 I <br />01/01/94 <br />01/01/95 <br />Refunded Bond Call Date Sources / Uses <br />Sources of Funds on: 01/01/94 <br />Invest. Proceeds Mature: <br />Inv. Earnings @ 2.75 %: <br />Funds from Issuer: <br />Total Sources of Funds: <br />334,800.00 <br />819.31 <br />574,380.69 <br />910,000,00 <br />Uses of Funds on: <br />Refunded Principal: <br />Refunded Call Premium: <br />Excess Proceeds: <br />Total Uses of Funds: <br />01/01/94 <br />910,000.00 <br />910,000.00 <br />Total Net Savings /Present Value Savingsi <br />Future Savings: 657,841.67 <br />Less Funds From Issuer: 574,380.69 <br />Plus Accr. Int. to D/S Fund; 1,270.89 <br />Plus Exc. Proc. to D1S Fund: <br />Total Net Savings: 84,731.87 <br />Present Value Say @ 3.39%: 30,834.64 <br />As % of P.V, Refunded.Int.: 25.26%I <br />