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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2016
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<br />Note 6 LONG-TERM DEBT
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<br />The City issues general obligation bonds and equipment certificates to provide funds for the acquisition and
<br />construction of major capital facilities and equipment. City indebtedness as of December 31, 2016 consisted of
<br />the following:
<br />
<br />Final
<br />Issue Maturity Interest Original Payable
<br />Date Date Rate Issue 12/31/16
<br />Governmental activities:
<br />General Obligation Bonds:
<br />2014A Certificates of Indebtedness 2/1/14 12/31/17 1.00% $495,000 $168,000
<br />2015A Certificates of Indebtedness 2/1/15 12/31/18 1.00%198,250 133,250
<br />2015B Certificates of Indebtedness 8/25/15 12/31/20 1.50%963,000 786,000
<br />2016A Certificates of Indebtedness 2/1/16 12/31/19 1.00%469,000 469,000
<br />G.O. Tax Abatement Bonds, Series 2006C 8/15/06 2/1/17 4.00% - 4.30% 2,460,000 1,755,000
<br />G.O. Utility Revenue Bonds, Series 2006D 8/15/06 2/1/17 4.00% - 4.15% 570,000 70,000
<br />G.O. CIP Refunding Bonds, Series 2006E 11/1/06 2/1/18 4.00% 2,990,000 830,000
<br />G.O. TIF Bonds, Series 2007A 7/15/17 2/1/24 4.00% - 4.125% 4,215,000 2,025,000
<br />G.O. Refunding Bonds, Series 2012A 11/15/12 2/1/24 1.00% - 2.00% 2,015,000 1,495,000
<br />G.O. Bonds 2015A 8/1/15 2/1/31 2.00% - 3.00% 3,095,000 3,095,000
<br />EDA Lease Revenue Bonds 2015B 10/1/15 4/1/36 2.00% - 3.00% 4,350,000 4,350,000
<br />G.O. Utility Revenue Bonds, Series 2016A 11/23/16 2/1/27 2.00% 1,420,000 1,420,000
<br />G.O. Tax Abatement Refunding Bonds 2016C 11/23/16 2/1/23 1.00% - 1.50% 1,600,000 1,600,000
<br />Total General Obligation Bonds 24,840,250 18,196,250
<br />Special Assessment Bonds:
<br />G.O. Improvement Bonds, Series 2005A 11/1/05 2/1/17 4.35% - 5.15% 5,550,000 2,360,000
<br />G.O. Imp & Utility Revenue Bonds, Series 2010A 7/9/10 2/1/20 2.00% - 3.00% 1,000,000 425,000
<br />G.O. Improvement Bonds, Series, 2013A 7/15/13 2/1/24 1.25% - 4.00% 615,000 495,000
<br />G.O. Improvement Bonds, Series 2014A 11/20/14 2/1/26 0.40% - 2.30% 2,645,000 2,540,000
<br />G.O. Improvement Refunding Bonds, Series 2016B 11/23/16 2/1/21 0.875% - 1.50% 1,975,000 1,975,000
<br />Total Special Assessment Bonds 11,785,000 7,795,000
<br />G.O. Improvement Note, Series 2009A 8/1/09 8/1/20 3.70% - 4.00% 4,260,000 1,345,000
<br />G.O. Capital Note, Series 2016A 4/14/16 2/1/26 2.00%294,525 264,000
<br />Unamortized bond premiums 199,750 166,322
<br />Unamortized bond discounts (51,997) (25,491)
<br />Compensated absences payable N/A 734,415
<br />Total Government Activities $41,327,528 $28,475,496
<br />Business-Type Activities:
<br />Compensated absences payable N/A $66,390
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