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• <br />• <br />• <br />City of Lino Lakes, Minnesota <br />October 21, 2003 <br />• Prior Original Debt Service: shows the existing debt service requirements for the Series <br />1996A Bonds without a refunding — page 15 <br />• Debt Service to Maturity and to Call: shows remaining debt service to maturity and to the <br />call date for the Series 1996A Bonds — page 16 <br />• Net Debt Service Schedule: shows (i) the new debt service on the Refunding Portion of <br />the Bonds, based on current estimated interest rates; (ii) the scheduled debt service due <br />on the Series 1996A Bonds on February 1, 2004; (iii) the current projection of assessment <br />income; and (iv) the projected annual surplus of assessment income over 105% of debt <br />service — page 17 <br />• Debt Service Comparison: shows the projected annual cash flow savings of the <br />Refunding Portion of the Bonds in comparison to the Series 1996A Bonds — Page 18 <br />The estimated savings results of the refunding are subject to market conditions. We will monitor <br />market performance between now and the date of sale. <br />Springsted is pleased to again be of service to the City of Lino Lakes. <br />Respectfully submitted, <br />ck?1)GC5?/3(_1Z; <br />SPRINGST i Incorporated <br />mb <br />Provided to Staff: Rebate and Continuing Disclosure Contract Amendments <br />Page 6 <br />