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APPENDIX B
<br />PROPOSED CIP BOND ISSUES
<br />City of Gem Lake, Minnesota
<br />$785,000 General Obligation Capital Improvement Plan Bonds, Series 2007
<br />(Joint Use City Hall Project)
<br />-Full Competitive Sale/20 Year Level @ $45K/Year Balloon -
<br />Debt Service Schedule
<br />Date
<br />Principal
<br />Coupon
<br />Interest
<br />Total P+I
<br />Fiscal Total
<br />05/01/2007
<br />-
<br />-
<br />-
<br />02/01/2008
<br />24,028.13
<br />24,028.13
<br />24,028.13
<br />08/01/2008
<br />-
<br />-
<br />16,018.75
<br />16,018.75
<br />-
<br />02/01/2009
<br />15,000.00
<br />3.700%
<br />16,018.75
<br />31,018.75
<br />47,037.50
<br />08/01/2009
<br />-
<br />-
<br />15,741.25
<br />15,741.25
<br />-
<br />02/01/2010
<br />15,000.00
<br />3.700%
<br />15,741.25
<br />30,741.25
<br />46,482.50
<br />08/01/2010
<br />-
<br />-
<br />15,463.75
<br />15,463.75
<br />-
<br />02/01/2011
<br />15,000.00
<br />3.750%
<br />15,463.75
<br />30,463.75
<br />45,927.50
<br />08/01/2011
<br />-
<br />-
<br />15,182.50
<br />15,182.50
<br />02/01/2012
<br />15,000.00
<br />3.750%
<br />15,182.50
<br />30,182.50
<br />45,365.00
<br />0810IY2012
<br />-
<br />-
<br />14,901.25
<br />14,901.25
<br />-
<br />02/01/2013
<br />15,000.00
<br />3.800%
<br />14,901.25
<br />29,901.25
<br />44,802.50
<br />08/01/2013
<br />-
<br />-
<br />14,616.25
<br />14,616.25
<br />-
<br />02/01/2014
<br />20,000.00
<br />3.850%
<br />14,616.25
<br />34,616.25
<br />49,232.50
<br />08/01/2014
<br />-
<br />-
<br />14,231.25
<br />14,231.25
<br />-
<br />02/01/2015
<br />20,000.00
<br />3.900%
<br />14,231.25
<br />34,231.25
<br />48,462.50
<br />08/01/2015
<br />-
<br />-
<br />13,841.25
<br />13,841.25
<br />-
<br />02/01/2016
<br />20,000.00
<br />3.950%
<br />13,841.25
<br />33,841.25
<br />47,682.50
<br />08/01/2016
<br />-
<br />-
<br />13,446.25
<br />13,446.25
<br />-
<br />02/01/2017
<br />20,000.00
<br />3.950%
<br />13,446.25
<br />33,446.25
<br />46,892.50
<br />08/01/2017
<br />-
<br />-
<br />13,051.25
<br />13,051.25
<br />-
<br />02/01/2018
<br />45,000.00
<br />4.000%
<br />13,051.25
<br />58,051.25
<br />71,102.50
<br />08/01/2018
<br />-
<br />-
<br />12,151.25
<br />12,151.25
<br />-
<br />02/01/2019
<br />50,000.00
<br />4.050%
<br />12,151.25
<br />62,151.25
<br />74,302.50
<br />08/01/2019
<br />-
<br />-
<br />11,138.75
<br />11,138.75
<br />-
<br />02/01/2020
<br />50,000.00
<br />4.100%
<br />11,138.75
<br />61,138.75
<br />72,277.50
<br />08/01/2020
<br />-
<br />-
<br />10,113.75
<br />10,113.75
<br />-
<br />02/01/2021
<br />55,000.00
<br />4.100%
<br />10,113.75
<br />65,113.75
<br />75,227.50
<br />08/01/2021
<br />-
<br />-
<br />8,986.25
<br />8,986.25
<br />-
<br />02/01/2022
<br />55,000.00
<br />4.150%
<br />8,986.25
<br />635986.25
<br />72,972.50
<br />08/01/2022
<br />-
<br />-
<br />7,945.00
<br />7,845.00
<br />02/01/2023
<br />60,000.00
<br />4.150%
<br />7,845.00
<br />67,845.00
<br />75,690.00
<br />08/01/2023
<br />-
<br />-
<br />6,600.00
<br />6,600.00
<br />02/01/2024
<br />60,000.00
<br />4.150%
<br />6,600.00
<br />665600.00
<br />73,200.00
<br />08/01/2024
<br />-
<br />-
<br />5,355.00
<br />5,355.00
<br />-
<br />02/01/2025
<br />60,000.00
<br />4.200%
<br />5,355.00
<br />65,355.00
<br />70,710.00
<br />08/01/2025
<br />-
<br />-
<br />4,095.00
<br />4,095.00
<br />02/01/2026
<br />65,000.00
<br />4.200%
<br />4,095.00
<br />69,095.00
<br />73,190.00
<br />0810IY2026
<br />-
<br />-
<br />2,730,00
<br />2,730.00
<br />-
<br />02/01/2027
<br />65,000.00
<br />4.200%
<br />2,730.00
<br />67,730.00
<br />70,460.00
<br />08/01/2027
<br />-
<br />-
<br />1,365.00
<br />1,365.00
<br />-
<br />02/01/2028
<br />65,000.00
<br />4.200%
<br />1,365.00
<br />66,365.00
<br />67,730.00
<br />Total $785,000.00 $457,775.63 $1,242,775.63 -
<br />Ehlers & Associates, Inc. Page 12
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