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EXHIBIT B— PRELIMINARY BOND SCHEDUL.E (Debt Service Comparison)
<br /> Debt Service Comparison
<br /> Existing
<br /> Date Total P+I D/S Net New D!S Old Net D/S Savings
<br /> 07/01/2011 - 178,820.00 178,642.01 178,$20.00 177.99
<br /> 07/01/2012 248,637.50 - 248,637.50 392,095.00 143,457.50
<br /> 07/01/2013 395,960.00 - 395,960.00 391,490.00 {4,470.00)
<br /> 07/01/2014 403,160.00 - 403,160.00 400,295.00 (2,865.00)
<br /> 07/01/2015 404,020.00 - 404,020.00 398,107.50 (5,912.50)
<br /> O7/01/2016 398,545.00 - 398,545.00 395,292.50 (3,252.50)
<br /> 07/01/2017 401,792.50 - 401,792.50 401,835.00 42.50
<br /> 07/01/2018 403,730.00 - 403,730.00 402,310.00 (1,420.00)
<br /> 07/01/2019 374,490.00 - 374,490.00 221,907.50 (152,582.50)
<br /> 07/01/2020 - - - 223, 223,707.5
<br /> Total $3,030,335.00 �178,820.00 $3,208,977.01 �3,405,860.00 $196,882.99
<br /> PV Analysis Summary (Net to Net) I �
<br /> I
<br /> Gross PV Debt Service Savings ..................... 193,861.16 I �
<br /> Net PV Cashflow Savings @ 1.983%(Bond Yieid)..... 193,861.16 �
<br /> Contingency or Rounding Amount .................... 177.99 I I
<br /> Net Present Value Benefit $194,039.15 '�
<br /> Net PV Benefit I$2,948,861.16 PV Refunded Debt Service 6.580% I
<br /> Net PV Benefit /$2,700,000 Refunded Principal.., 7.1g7'/o �
<br /> Net PV Benefit /$2,755,000 Refunding Principal.. 7.043% '
<br /> Refunding Bond Information
<br /> Refunding Dated Date 4/01 /2011
<br /> Refunding Delivery Date 4/01/2011
<br /> Page 4
<br /> NORTHLAND�SECU R1'I'IES
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