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• $1,015,000 City of Lino Lakes, Minnesota General Obligation Improvement & Utility Revenue Refunding Bonds, Series 2010A Current Refunding of Series 2004A Preliminary Feasibility Summary Dated 06/01/2010 1 Delivered 06/08/2010 Series 2004A Series 2004A Issue IMP Utility Summary Sources Of Funds Par Amount of Bonds $475,000.00 $540,000.00 $1,015,000.00 Accrued Interest from 06/01/2010 to 06/08/2010 176.94 202.51 379.45 Total Sources $475,176.94 $540,202.51 $1,015,379.45 Uses Of Funds Deposit to Current Refunding Fund 457,138.02 523,168.75 980,306.77 Costs of Issuance 11,231.53 12,768.47 24,000.00 Total Underwriter's Discount (0.775 %) 3,681.25 4,185.00 7,866.25 Rounding Amount 2,949.20 (122.22) 2,826.98 Deposit to Debt Service Fund 176.94 202.51 379.45 Total Uses $475,176.94 $540,202.51 $1,015,379.45 Flow of Funds Detail Call Date 7/1/2010 7/1/2010 7/1/2010 Primary Purpose Fund Solution Method Gross Funded Gross Funded Gross Funded Total Cost of Investments $457,138.02 $523,168.75 $980,306.77 Total Draws $457,138.02 $523,168.75 $980,306.77 PV Analysis Summary (Net to Net) Net PV Cashflow Savings @ 2.396 %(Bond Yield) 16,371.23 21,937.09 38,308.32 Accrued Interest Credit to Debt Service Fund 176.94 202.51 379.45 Contingency or Rounding Amount 2,949.20 (122.22) 2,826.98 Net Present Value Benefit $19,497.37 $22,017.38 $41,514.75 Net PV Benefit / $965,000 Refunded Principal 4.333% 4.275% 4.302% Net PV Benefit / $1,015,000 Refunding Principal 4.105% 4.077% 4.090% Bond Statistics Average Life 5.226 Years 5.277 Years 5.253 Years Average Coupon 2.4162477% 2.4298414% 2.4235124% Net Interest Cost (NIC) 2.5645398% 2.5767092% 2.5710434% Bond Yield for Arbitrage Purposes 2.3961265% 2.3961265% 2.3961265% True Interest Cost (TIC) 2.5501293% 2.5620433% 2.5564947% All Inclusive Cost (AIC) 3.0531688% 3.0607241% 3.0572053% Series 20/0 Ref 2004A / In Summriry / 3/30/2010 / I /:S7AM Springsted Page 7