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City of
<br />General Obligation
<br />Street Improv
<br />$620,000
<br />Lino Lakes, Minnesota
<br />Improvement and Utility Revenue Bonds
<br />Series 2004A
<br />vement Projects (Birch & Hodgson)
<br />NET DEBT SERVICE SCHEDULE
<br />Date Principal Coupon Interest Total P +I 105% of Total Assessment
<br />Income
<br />(1) (2) (3) (4) (5) (6)
<br />Annual
<br />Surplus
<br />(7)
<br />02/01/2005
<br />02/01/2006
<br />02/01/2007
<br />02/01 /2008
<br />02/01/2009
<br />02/01/2010
<br />02/01/2011
<br />02/01/2012
<br />02/01/2013
<br />02/01/2014
<br />02/01/2015
<br />02/01/2016
<br />02/01/2017
<br />02/01/2018
<br />02/01/2019
<br />02/01/2020
<br />30,000.00
<br />35,000.00
<br />35,000.00
<br />35,000.00
<br />35,000.00
<br />40,000.00
<br />40,000.00
<br />40,000.00
<br />40,000.00
<br />45,000.00
<br />45,000.00
<br />45,000.00
<br />50,000.00
<br />50,000.00
<br />55,000.00
<br />1.900%
<br />2.250%
<br />2.600%
<br />2.900%
<br />3.150%
<br />3.400%
<br />3.550%
<br />3.700%
<br />3.850%
<br />4.000%
<br />4.100%
<br />4.200%
<br />4.300%
<br />4.350%
<br />4.450%
<br />27,240.92
<br />21,922.50
<br />21,135.00
<br />20,225.00
<br />19,210.00
<br />18,107.50
<br />16,747.50
<br />15,327.50
<br />13,847.50
<br />12,307.50
<br />10,507.50
<br />8,662.50
<br />6,772.50
<br />4,622.50
<br />2,447.50
<br />57,240.92
<br />56,922.50
<br />56,135.00
<br />55,225.00
<br />54,210.00
<br />58,107.50
<br />56,747.50
<br />55,327.50
<br />53,847.50
<br />57,307.50
<br />55,507.50
<br />53,662.50
<br />56,772.50
<br />54,622.50
<br />57,447.50
<br />60,102.97
<br />59,768.63
<br />58,941.75
<br />57,986.25
<br />56,920.50
<br />61,012.88
<br />59,584.88
<br />58,093.88
<br />56, 539.88
<br />60,172.88
<br />58,282.88
<br />56,345.63
<br />59,611.13
<br />57,353.63
<br />60,319.88
<br />66,786.60
<br />66,786.60
<br />66,786.60
<br />66,786.61
<br />66,786.59
<br />66,786.60
<br />66,786.61
<br />66,786.61
<br />66,786.60
<br />66,786.59
<br />66,786.60
<br />66,786.60
<br />66,786.60
<br />66,786.60
<br />66, 786.60
<br />6,683.63
<br />7,017.98
<br />7,844.85
<br />8,800.36
<br />9,866.09
<br />5,773.73
<br />7,201.74
<br />8,692.74
<br />10,246.73
<br />6,613.72
<br />8,503.73
<br />10,440.98
<br />7,175.48
<br />9,432.98
<br />6,466.73
<br />Total $620,000.00
<br />$219,083.42 $839,083.42 $881,037.59 $1,001,799.01 $120,761.42
<br />Dated 11/15/2004
<br />Delivery Date 11/15/2004
<br />First Coupon Date 8/01 /2005
<br />Yield Statistics
<br />Bond Year Dollars $5,510.89
<br />Average Life 8.889 Years
<br />Average Coupon 3.9754643%
<br />Net Interest Cost (NIC) 4.0992193%
<br />True Interest Cost (TIC) 4.0937396%
<br />Bond Yield for Arbitrage Purposes 3.9401182%
<br />All Inclusive Cost (AIC) 4.3387813%
<br />IRS Form 8038
<br />Net Interest Cost 3.9754643%
<br />Weighted Average Maturity 8.889 Years
<br />20044 EXZ / Improvement Pmjecvv / 9/20/2004 / 2,1.9 PM
<br />SPRINGSTEI)
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<br />Page 9
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