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City of Little Canada, Minnesota <br />Notes to the Financial Statements <br />December 31, 2024 <br />Note 3: Detailed Notes on All Funds (Continued) <br />The City made transfers during the year as shown and described below: <br />General Nonmajor <br />Capital Fire Equipment Governmental Nonmajor <br />General Improvements Fund Funds Enterprise Fund Total <br />Transfer Out <br />General -$ -$ 450,000$ -$ -$ 450,000$ <br />Infrastructure CIP - - - 12,300 102,000 114,300 <br />Nonmajor governmental 103,450 12,300 - 368,813 - 484,563 <br />Water - - - 276,454 - 276,454 <br />Sewer - - - 169,746 - 169,746 <br />Total Transfers 103,450$ 12,300$ 450,000$ 827,313$ 102,000$ 1,495,063$ <br />Fund <br />Transfers In <br />The following unbudgeted transfers were made during the year: <br />•The major Infrastructure CIP fund transferred $102,000 into the nonmajor Storm Water fund to fund additional <br />stormwater management costs. <br />•The General fund transferred $450,000 of State Aid Public Safety funds into the major Fire Equipment <br />Replacement fund. <br />E.Components of Long-term debt <br />The City had the following long-term liabilities outstanding at December 31, 2024: <br />Authorized Maturity Balance at <br />and Issued Dated Date Year End <br />Governmental Activities <br />General Obligation <br />G.O. Bonds of 2014A 3,400,000$ 2.98 %3/11/2014 02/01/34 1,925,000$ <br />G.O. Refunding Bonds of 2015A 1,335,000 2.00 6/23/2015 02/01/26 290,000 <br />Total 2,215,000 <br />Notes from Direct Borrowings: <br />Canabury Square Condos Note 99,100$ 2.00 05/16/10 02/01/25 3,230 <br />Unamortized Bond Premium 2,058 <br />Total General Obligation Bonds and Notes 2,220,288$ <br />Interest <br />RateDescription <br />78