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<br /> <br />City of Little Canada, Minnesota <br />Notes to the Financial Statements <br />December 31, 2023 <br /> <br />Note 3: Detailed Notes on All Funds (Continued) <br /> <br /> <br />The City made transfers during the year as shown and described below: <br /> <br />General Nonmajor <br />Capital Governmental <br />General Improvements Funds Total <br />Transfer Out <br />Infrastructure CIP -$ 29,800$ -$ 29,800$ <br />Nonmajor governmental 101,209 145,000 474,541 720,750 <br />Water - - 268,400 268,400 <br />Sewer - - 164,800 164,800 <br />Total Transfers 101,209$ 174,800$ 907,741$ 1,183,750$ <br />Fund <br />Transfers In <br /> The following unbudgeted transfers were made during the year: <br /> <br />• The nonmajor TIF #3-3 The Lodge fund transferred $96,890 into the nonmajor TIF #2 -1 Kandice Heights fund to <br />cover the 2022 cash deficit in the TIF #3-3 The Lodge fund. The transfer was subsequently reversed in 2023. <br /> <br />E. Components of Long-term debt <br /> <br />The City had the following long-term liabilities outstanding at December 31, 2023: <br /> <br />Authorized Maturity Balance at <br />and Issued Dated Date Year End <br />Governmental Activities <br />General Obligation <br />G.O. Bonds of 2014A 3,400,000$ 2.98 %3/11/2014 02/01/34 2,085,000$ <br />G.O. Refunding Bonds of 2015A 1,335,000 2.00 6/23/2015 02/01/26 435,000 <br />Total 2,520,000 <br />Notes from Direct Borrowings: <br />Canabury Square Condos Note 99,100$ 2.00 05/16/10 02/01/25 10,735 <br />Unamortized Bond Premium 5,506 <br />Total General Obligation Bonds and Notes 2,536,241$ <br />Interest <br />RateDescription <br /> <br />74