Series 2021 bond total estimated principal and interest

Estimated total principal plus interest over the debt service schedule. Bucket: Total principal and interest

Total combined road and equipment bond discussed

The total bond was discussed as covering 2020 and 2021 road improvements and equipment purchases. Bucket: Road improvements and equipment bond

Series 2021A GO bonds principal

Original aggregate principal amount of the General Obligation Bonds, Series 2021A. Bucket: GO Bonds Series 2021A

Issuance of General Obligation Bonds, Series 2021A, to finance street improvements and municipal equipment.

A. WHEREAS, the City Council of the City of Nowthen, Minnesota has heretofore determined that it is necessary and expedient to issue the City's $2,830,000 General Obligation Bonds, Series 2021A (the "Bonds"), to finance four street improvement projects and the acquisition of municipal equipment in the City; and B. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its independent municipal advisor for the Bonds in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9);

Series 2021A General Obligation Bonds authorized process

Council authorized Ehlers to move forward with the bonding process. Bucket: General Obligation Bonds Series 2021A

Awarding the sale of General Obligation Bonds, Series 2021A.

A RESOLUTION AWARDING THE SALE OF GENERAL OBLIGATION BONDS, SERIES 2021A, IN THE ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF $2,830,000; FIXING THEIR FORM AND SPECIFICATIONS; DIRECTING THEIR EXECUTION AND DELIVERY; AND PROVIDING FOR THEIR PAYMENT

Total par amount of General Obligation Improvement Bonds, Series 2021A.

Par Amount of Bonds $230,000.00 $300,000.00 $555,000.00 $865,000.00 $880,000.00 $2,830,000.00

Issuance of General Obligation Bonds, Series 2021A, for public improvements and equipment.

The Mayor announced that the next order of business was consideration of the proposals which had been received for the purchase of the City's General Obligation Bonds, Series 2021A, to be issued in the original aggregate principal amount of $2,830,000.

Authorization to proceed with $2,830,000 General Obligation Bonds, Series 2021A, for street and equipment projects.

Kimmel presented an overview of the financing plan for the 2021 Bond Issue... MOTION BY ALDERS TO APPROVE RESOLUTION 2021-26 AUTHORIZING EHLERS TO WORK WITH STAFF TO MOVE FORWARD THE $2,830,000 BONDING PROCESS; 2ND BY BLAKE. ALL IN FAVOR. MOTION CARRIED.

Principal amount of General Obligation Bonds, Series 2021A.

Re: US$2,830,000 City of Nowthen, Minnesota, (Anoka County), General Obligation Bonds, Series 2021A, dated: October 07, 2021, due: February 01, 2032

Issuance and sale of General Obligation Bonds, Series 2021A.

The City will forthwith issue and sell the Bonds pursuant to the Act, in the total principal amount of $2,830,000, originally dated October 7, 2021, in the denomination of $5,000 each or any integral multiple thereof, numbered No. R-1, upward, bearing interest as above set forth, and maturing serially on February 1 in the years and amounts as follows:

General Obligation Bonds, Series 2021A, to finance street improvements and municipal equipment.

WHEREAS, the City Council of the City of Nowthen, Minnesota has heretofore determined that it is necessary and expedient to issue the City's $2,830,000 General Obligation Bonds, Series 2021A (the "Bonds"), to finance four street improvement projects and the acquisition of municipal equipment in the City;

Road improvements bond discussed

The minutes say the equipment bond would be part of the road improvement bond. Bucket: Road Improvements bond

Portion of bond issue for Improvement Bonds for public improvements.

$1,950,000 of the Bonds, constituting the Improvement Bonds, maturing on February 1 of the years and in the amounts set forth below, will be used to finance the construction of the Assessable Improvements:

Issuance of Improvement Bonds for public street and infrastructure improvements.

It is necessary and expedient to the sound financial management of the affairs of the City to issue general obligations in the aggregate principal amount of $1,950,000 (the "Improvement Bonds"), pursuant to the Improvement Act, to provide financing for the Assessable Improvements.

Par amount of bonds for Equipment Certificate (municipal equipment acquisition).

Par Amount of Bonds $230,000.00 $300,000.00 $555,000.00 $865,000.00 $880,000.00 $2,830,000.00

Portion of bond issue for Equipment Certificates for capital equipment.

The remainder of the Bonds in the principal amount of $880,000, constituting the Equipment Certificates, maturing on February 1 of the years and in the amounts set forth below, will be used to finance the acquisition of the Equipment:

Issuance of Equipment Certificates for capital equipment purchases.

It is necessary and expedient to the sound financial management of the affairs of the City to issue general obligations in the aggregate principal amount of $880,000 (the "Equipment Certificates"), pursuant to the Capital Equipment Act, to provide financing for the acquisition of the Equipment.

Par amount of bonds for Rogers Lake Area Improvements.

Par Amount of Bonds $230,000.00 $300,000.00 $555,000.00 $865,000.00 $880,000.00 $2,830,000.00

Possible increased equipment bond high estimate

Yager discussed increasing the equipment bond to include the snowplow truck. Bucket: Equipment replacement bond

Possible increased equipment bond low estimate

Yager discussed increasing the equipment bond to include the snowplow truck. Bucket: Equipment replacement bond

Equipment bond proceeds in packet

The packet equipment replacement plan listed bond proceeds for the equipment fund. Bucket: Equipment Fund

Flexible equipment replacement bond discussed

The minutes describe a flexible equipment replacement bond for equipment with at least a 10-year life. Bucket: Equipment replacement bond

Par amount of bonds for Ebony Street Improvements.

Par Amount of Bonds $230,000.00 $300,000.00 $555,000.00 $865,000.00 $880,000.00 $2,830,000.00

Par amount of bonds for 189th Lane Improvements.

Par Amount of Bonds $230,000.00 $300,000.00 $555,000.00 $865,000.00 $880,000.00 $2,830,000.00

Par amount of bonds for Krypton Street Improvements.

Par Amount of Bonds $230,000.00 $300,000.00 $555,000.00 $865,000.00 $880,000.00 $2,830,000.00

2021 actual debt service principal payments.

<td>Debt Service - Principal</td> <td>228,000</td>

Total debt service payment to Bond Trust Services Corp (principal, interest, and fees).

Transaction Date 1/12/2021 Due 2/4/2021 Total $199,925.00

Series 2021 bond total estimated interest

Estimated total interest over the debt service schedule. Bucket: Total bond interest

2021 actual bond principal for 2019A Improvement Bonds.

315-47315-601 Bond Principal 100,000 100,000 105,000 105,000 105,000 120,000 15,000 14.29%

Payment to Bond Trust Services Corp for bond principal (2019A GO Improvement Bond).

Cash Payment E 313-47313-601 Debt Service: Bond Princ 2019A GO Improvement Bond $100,000.00

Payment to Bond Trust Services Corp for bond principal (2012A GO Refunding Bond).

Cash Payment E 311-47311-601 Debt Service: Bond Princ 2012A GO Refunding Bond $80,000.00

Series 2021 bond costs of issuance

Estimated total costs of issuance in issue uses. Bucket: Costs of issuance

Outstanding principal on 2013 bank loan.

The city maintains one privately placed bank loan from 2013. The amount outstanding is $40,000.

2021 actual debt service interest and fees.

<td>Debt Service - Interest &amp; Fees</td> <td>39,283</td>

Series 2021 bond underwriter's discount

Estimated total underwriter's discount in issue uses. Bucket: Underwriter's discount

2021 actual bond interest for 2019A Improvement Bonds.

315-47315-611 Bond Interest 33,450 30,750 27,675 27,675 27,675 21,150 (6,525) -23.58%

Total debt service payment to Bank of Elk River (principal and interest).

Transaction Date 1/12/2021 Due 2/4/2021 Checking 10100 Total $20,729.00

Bond principal payments for Fire Engine Debt Revenues.

312-47312-601 Bond Principal 20,000 20,000 20,000 - - - - -

Payment to Bank of Elk River for bond principal (debt service).

Cash Payment E 312-47312-601 Debt Service: Bond Princ $20,000.00

Payment to Bond Trust Services Corp for bond interest (2019A GO Improvement Bond).

Cash Payment E 313-47313-611 Debt Service: Bond Inter 2019A GO Improvement Bond $17,325.00

2019A improvement claim

Fund summary share of approved claims for 2019A Improvement debt service. Bucket: 2019A Improvement claims

Payment to Bond Trust Services Corp for bond interest (2012A GO Refunding Bond).

Cash Payment E 311-47311-611 Debt Service: Bond Inter 2012A GO Refunding Bond $1,650.00

Bond interest payments for Fire Engine Debt Revenues.

312-47312-611 Bond Interest 1,215 729 243 - - - - -

2012A refunding bond claim

Fund summary share of approved claims for 2012A Refunding Bond debt service. Bucket: 2012A Refunding Bond DS claims

Payment to Bank of Elk River for bond interest (debt service).

Cash Payment E 312-47312-611 Debt Service: Bond Inter $729.00

Payment to Bond Trust Services Corp for fiscal agent fee (2019A GO Improvement Bond).

Cash Payment E 313-47313-620 Debt Service: Fiscal Age 2019A GO Improvement Bond $475.00

Payment to Bond Trust Services Corp for fiscal agent fee (2012A GO Refunding Bond).

Cash Payment E 311-47311-620 Debt Service: Fiscal Age 2012A GO Refunding Bond $475.00

Payment to Falcon National Bank for bond interest (debt service).

Cash Payment E 306-47210-611 Debt Service: Bond Inter $434.00