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Expenditures Deposit to Construction Fund Deposit to Debt Service Fund (Capitalized Interest) Costs of Issuance Underwriter's Discount Total Total Proi ct Cost $ 613,834.17 12,630.98 29,002.00 23.760.00 $679,227.15 * * Includes par amount of $660, 000, plus an original issue premium of $19,227.1 S. 3. Reimbursement. A portion of the proceeds of the Bonds will be applied to reimburse expenditures of the City incurred prior to the date of issuance of the Bonds, in the amount of $ . On . 2018 (which date is prior to, or no later than sixty (60) days after, the date of any such reimbursed expenditures), the City Council of the City adopted a resolution expressing its intent to reimburse expenditures from the proceeds of the Bonds for the Assessable Improvements. 4. Yield. Based on the Certificate of Municipal Advisor executed by Ehlers & Associates, Inc. (the "Municipal Advisor") on the date hereof, the yield on the Bonds is 3.0858095%. 5. Weighted Average Maturity. Based on the Certificate of Municipal Advisor dated as of the date hereof, the weighted average maturity of the Bonds is 9.298 years. 6. Economic Life of Bond Financed Project. The Assessable Improvements financed with the proceeds of the Bonds are expected to have an economic life of more than the average maturity of the Bonds. 7. Disposition of Bond Financed Property. No asset acquired with proceeds derived from the sale of the Bonds that are allocated to the acquisition of such asset will be sold or transferred by the City unless the City has first received an opinion from a nationally recognized bond counsel to the effect that such sale or transfer (or the proposed application of the proceeds derived from such sale or transfer) will not cause interest on the Bonds to become includable in gross income for federal income tax purposes. However, to the extent the proceeds of the Bonds is being used to finance equipment or other personal property, and the City may dispose of such bond -financed equipment or personal property without an opinion from a nationally recognized bond counsel if all of the following conditions are satisfied: (i) the weighted average maturity of the Bonds financing the equipment or personal property is not greater than one hundred twenty percent (120%) of the reasonably expected actual use of the equipment or personal property for governmental purposes; (ii) the fair market value of that property on the date of disposition will not be greater than twenty-five percent (25%) of its cost; and (iii) the property is no longer suitable for its governmental purposes on the date of disposition. 8. Private Use of Bond l- inanced Property. The Assessable Improvements are expected to be used by the City, other governmental entities, and the general public. 9. Pavments from Non -governmental Persons. The City will not accept any payment or other benefit from a non -governmental person benefited from the issuance of the Bonds unless the City has first received an opinion from a nationally recognized bond counsel to the effect that acceptance of 527553v1 GAF GE190-14