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CITY OF LITTLE CANADA, MINNESOTA <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />DECEMBER 31, 2018 <br /> <br /> <br /> <br />(69) <br /> <br />NOTE 18 ANTENNA LEASES <br />The City receives revenue from agreements for the lease of space above its water tower to <br />two communications companies. The space is used for antennas and other equipment (of <br />the lessee) necessary to provide radio communications. For accounting purposes, the <br />leases are considered operating leases. Lease revenue for the year ended December 31, <br />2018 totaled $108,702. <br /> <br />Future Lease Receipts Amounts <br />2019 59,749$ <br /> <br />NOTE 19 SPECIAL ITEM <br />In 2013, the City entered into an agreement with Ramsey County for the reconstruction of <br />Little Canada Road, a road that is in the City but owned and maintained by the County. <br />Under the agreement the City of Little Canada would administer and pay for the project. <br />Ramsey County would then reimburse the City for the costs of the project. <br /> <br />The City entered into an additional agreement with Ramsey County in 2014 for the <br />reconstruction of Centerville Road, which is also a road that is within the City but owned and <br />maintained by the County. Similar to the Little Canada Road agreement, the terms of this <br />agreement included the City administering and overseeing the project and the County <br />reimbursing the City for the costs of the project. <br /> <br />Both of these projects were fully completed in 2018 and a capital contribution from the City <br />in the form of a special item is shown on the statement of activities. The City agreed to these <br />arrangements in order to have these roads reconstructed quicker than would have occurred <br />if the County had administered and overseen the project. <br /> <br /> <br />