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Preliminary
<br /> City of Circle Pines, MN
<br /> $1,505,000 G.O. Refunding Bonds, Dated: June 1, 2012
<br /> Proposed Crossover Refunding of Series 2005A
<br /> Assumes "AA" Rating, Current B.Q. Market Rates +35 Basis Points
<br /> Debt Service Comparison
<br /> Const Loan
<br /> Date Total P +I Pmt Existing DIS Net New DIS Old Net DIS Savings
<br /> 02/01/2013 13,818.33 (1,458,818.33) 1,484,841.67 37,242.67 39,841.67 2,599.00
<br /> 02/01/2014 200,727.50 - - 200,727.50 214,762.50 14,035.00
<br /> 02/01/2015 199,197.50 - - 199,197.50 213,562.50 14,365.00
<br /> 02/01/2016 202,577.50 - - 202,577.50 217,162.50 14,585.00
<br /> 02/01/2017 200,727,50 - - 200,727.50 215,362.50 14,635.00
<br /> 02/01/2018 203,600.00 - - 203,600.00 218,187.50 14,587.50
<br /> 02/01/2019 200,940.00 - - 200,940.00 215,510.00 14,570.00
<br /> 02/01/2020 202,805.00 - - 202,805.00 217,530.00 14,725.00
<br /> 02/01/2021 204,100.00 - - 204,100.00 219,030.00 14,930.00
<br /> Total S1,628,493.33 (1,458,818.33) S1,484,841.67 $1,651,917.67 S1,770,949.17 $119,031.50
<br /> PV Analysis Summary (Net to Net)
<br /> Gross PV Debt Service Savings 108,118.18
<br /> Net PV Cashflow Savings A 1.558 %(Bond Yield) 108,118.18
<br /> Contingency or Rounding Amount 2,599.00
<br /> Net Present Value Benefit $110,717.18
<br /> Net PV Benefit / $1,599,442.07 PV Refunded Debt Service 6.922%
<br /> Net PV Benefit / $1,445,000 Refunded Principal... 7.662%
<br /> Net PV Benefit / $1,505,000 Refunding Principal.. 7.357%
<br /> Refunding Bond Information
<br /> Refunding Dated Date _ 6/01/2012
<br /> Refunding Delivery Date 6/01 /2012
<br /> 09 )(over Ser 05A $2.365M 1 SINGLE PURPOSE 1 3112)2012 1 3:23 PM
<br /> 8 EHLERS
<br /> LEADERS IN PUBI IC FINANCE
<br /> 18
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