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$710,000
<br />City of Lino Lakes, Minnesota
<br />General Obligation Improvement and Utility Revenue Bonds
<br />Water Utility Projects (Marshan Estates, 62nd Street, Holly Drive)
<br />DEBT SERVICE SCHEDULE
<br />Date Principal Coupon Interest Total P +1 105% of Total
<br />02/01/2005 - -
<br />02/01/2006 35,000.00 1.900% 31,183.08 66,183.08 69,492.23
<br />02/01/2007 40,000.00 2.250% 25,082.50 65,082.50 68,336.63
<br />02/01/2008 40,000.00 2.600% 24,182.50 64,182.50 67,391.63
<br />02/01/2009 40,000.00 2.900% 23,142.50 63,142.50 66,299.63
<br />02/01/2010 40,000.00 3.150% 21,982.50 61,982.50 65,081.63
<br />02/01/2011 45,000.00 3.400% 20,722.50 65,722.50 69,008.63
<br />02/01/2012 45,000.00 3.550% 19,192.50 64,192.50 67,402.13
<br />02/01/2013 45,000.00 3.700% 17,595.00 62,595.00 65,724.75
<br />02/01/2014 50,000.00 3.850% 15,930.00 65,930.00 69,226.50
<br />02/01/2015 50,000.00 4.000% 14,005.00 64,005.00 67,205.25
<br />02/01/2016 50,000.00 4.100% 12,005.00 62,005.00 65,105.25
<br />02/01/2017 55,000.00 4.200% 9,955.00 64,955.00 68,202.75
<br />02/01/2018 55,000.00 4.300% 7,645.00 62,645.00 65,777.25
<br />02/01/2019 60,000.00 4.350% 5,280.00 65,280.00 68,544.00
<br />02/01/2020 60,000.00 4.450% 2,670.00 62,670.00 65,803.50
<br />Total $710,000.00
<br />$250,573.08
<br />$960,573.08 $1,008,601.73
<br />SIGNIFICANT DATES
<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 $6,304.89
<br />Average Life 8.880 Years
<br />Average Coupon 3.9742664%
<br />Net Interest Cost (NIC) 4.0981385%
<br />True Interest Cost (TIC) 4.0928261 %
<br />Bond Yield for Arbitrage Purposes 3.9401182%
<br />All Inclusive Cost (AIC) 4.3380464%
<br />IRS Form 8038
<br />Net Interest Cost 3.9742664%
<br />Weighted Average Maturity 8.880 Years
<br />Interest rates are estimates. Changes in rates may
<br />cause significant alterations to this schedule.
<br />The actual underwriter's discount bid may also vary.
<br />Senors 2004A EX 2 / 44Wer Utility / 9/20/2004 / 2.19 PM
<br />SPR1NGSTED
<br />Advisors re the Rrhlir terror
<br />Page 10
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