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City of Lino Lakes, Minnesota <br />Sensitivity Assumptions <br />2008 <br />5 scenarios <br />All 5 have a start date of 11/1/2008 <br />All 5 have the same credit cost. <br />The first scenario is fixed <br />Scenarios 2, 3, 4 and 5 are all variable rate. <br />The variable rate assumptions include 50 bps for remarketing and liquidity <br />Note: prepayments can be applied to principal only in floating rate scenarios <br />Scenario #1 Fixed rate scenario <br />Scenario # 2 <br />Scenario # 3 <br />Scenario # 4 <br />Scenario # 5 <br />Bonds initially variable rate. Forward starting swap begins 2/1/2013. <br />Variable rate stays at 3% from start until swap fixed rate of 5.40% <br />begins in 2013 <br />Bonds initially variable rate. Forward starting swap begins 2/1/2013. <br />Variable rate starts at 3.0% then increases by 1/2% annually until <br />swap fixed rate of 5.40% begins in 2013. <br />Bonds initially variable rate. Forward starting swap begins 2/1/2013. <br />Variable rate starts at 3.5% then increases by 1% annually until <br />swap fixed rate of 5.40% begins in 2013. <br />Bonds initially variable rate. Forward starting swap begins 2/1/2013. <br />Variable rate starts at 3% then declines by 1/4% annually until swap <br />swap fixed rate of 5.40% begins in 2013. <br />Total Interest <br />Cost Assuming <br />no early <br />payments <br />Total Interest <br />Cost Assuming <br />$3,400,000 <br />on 2/2011 <br />$ 1,935,429 $ 1,935,429 <br />$ 1,874,205 $ 1,410,405 <br />$ 2,060,505 $ 1,545,705 <br />$ 2,378,768 $ 1,795,968 <br />$ 1,781,055 $ 1,342,755 <br />