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Management’s Discussion and Analysis
<br />
<br />
<br />include NorthPointe 3rd and 4th Additions, Saddle Club 2nd Addition, Century Farms 6th
<br />Addition, and Woods Edge.
<br />
<br />City of Lino Lakes’ Capital Assets
<br />(Net of Depreciation)
<br />
<br />2016 2015 2016 2015 2016 2015
<br />Land $3,275,859 $3,275,859 $ - $ - $3,275,859 $3,275,859
<br />Construction in progress 8,961,062 7,268,375 5,617,436 1,830,071 14,578,498 9,098,446
<br />Buildings 2,706,355 2,802,413 - - 2,706,355 2,802,413
<br />Office equipment and furniture 157,704 133,963 - - 157,704 133,963
<br />Vehicles 1,370,732 1,141,371 - - 1,370,732 1,141,371
<br />Machinery and shop equipment 1,017,332 1,109,527 167,440 152,886 1,184,772 1,262,413
<br />Other equipment 206,385 193,122 - - 206,385 193,122
<br />Infrastructure 23,458,996 25,303,407 26,075,734 27,144,872 49,534,730 52,448,279
<br /> Total $41,154,425 $41,228,037 $31,860,610 $29,127,829 $73,015,035 $70,355,866
<br />Governmental Activities Business-Type Activities Totals
<br />Additional information on the City’s capital assets can be found in Note 5 to the financial
<br />statements.
<br />
<br />Long-term debt. At the end of the current fiscal year, the City had total bonded debt
<br />outstanding of $27,741,081. Of this amount, $18,460,250 comprises tax supported debt and
<br />$7,795,000 is special assessment debt. All outstanding debt carries the general obligation
<br />backing for which the City is liable in the event of default by the property owners subject to
<br />the specific taxes, special assessments or revenues pledged to the retirement of the debt. In
<br />addition, the City carries a note to Anoka County for its share of the cost of the I-35E /
<br />County Road 14 Interchange project in the amount of $1,345,000 and a note payable to the
<br />City of Circle Pines for its share of the cost of capital equipment to be used by the North
<br />Metro Telecommunications Commission in the operation of a cable communications system
<br />in the amount of $264,000.
<br />
<br />City of Lino Lakes’ Outstanding Debt
<br />
<br />2016 2015 2016 2015 2016 2015
<br />General obligation bonds $18,460,250 $16,406,250 $ - $ - $18,460,250 $16,406,250
<br />G.O. special assessment bonds 7,795,000 6,485,000 - - 7,795,000 6,485,000
<br />Note payable - Anoka County 1,345,000 1,720,000 - - 1,345,000 1,720,000
<br />Bond premium 140,831 106,041 - - 140,831 106,041
<br /> Total $27,741,081 $24,717,291 $0 $0 $27,741,081 $24,717,291
<br />Business-Type Activities TotalsGovernmental Activities
<br /> The City of Lino Lakes’ total bonded debt increased by $3,023,790 during the current fiscal
<br />year. The key factors for the change include the issuance of $469,000 of Certificates of
<br />Indebtedness to finance capital equipment purchases, $1,420,000 of General Obligation
<br />Utility Revenue Bonds to fund Aqua Lane to Black Duck Drive trunk water main
<br />improvements, $1,975,000 of Taxable General Obligation Refunding Bonds to refinance the
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