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Management's Discussion and Analysis
<br />include NorthPointe Yd and 4th Additions, Saddle Club 2nd Addition, Century Farms 6th
<br />Addition, and Woods Edge.
<br />City of Lino Lakes' Capital Assets
<br />(Net of Depreciation)
<br />Additional information on the City's capital assets can be found in Note 5 to the financial
<br />statements.
<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 1-35E /
<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 />City of Lino Lakes' Outstanding Debt
<br />Governmental Activities
<br />Business -Type
<br />Activities
<br />Totals
<br />2016
<br />2015
<br />2016
<br />2015
<br />2016
<br />2015
<br />2016
<br />2015
<br />Land
<br />$3,275,859
<br />$3,275,859
<br />$ -
<br />$ -
<br />$3,275,859
<br />$3,275,859
<br />Construction in progress
<br />8,961,062
<br />7,268,375
<br />5,617,436
<br />1,830,071
<br />14,578,498
<br />9,098,446
<br />Buildings
<br />2,706,355
<br />2,802,413
<br />-
<br />-
<br />2,706,355
<br />2,802,413
<br />Office equipment and furniture
<br />157,704
<br />133,963
<br />-
<br />157,704
<br />133,963
<br />Vehicles
<br />1,370,732
<br />1,141,371
<br />-
<br />-
<br />1,370,732
<br />1,141,371
<br />Machinery and shop equipment
<br />1,017,332
<br />1,109,527
<br />167,440
<br />152,886
<br />1,184,772
<br />1,262,413
<br />Other equipment
<br />206,385
<br />193,122
<br />-
<br />-
<br />206,385
<br />193,122
<br />Infrastructure
<br />23,458,996
<br />25,303,407
<br />26,075,734
<br />27,144,872
<br />49,534,730
<br />52,448,279
<br />Total
<br />$41,154,425
<br />$41,228,037
<br />$31,860,610
<br />$29,127,829
<br />$73,015,035
<br />$70,355,866
<br />Additional information on the City's capital assets can be found in Note 5 to the financial
<br />statements.
<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 1-35E /
<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 />City of Lino Lakes' Outstanding Debt
<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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<br />Governmental Activities
<br />Business -Type Activities Totals
<br />2016
<br />2015
<br />2016 2015 2016
<br />2015
<br />General obligation bonds
<br />$18,460,250
<br />$16,406,250
<br />$ - $ - $18,460,250
<br />$16,406,250
<br />G.O. special assessment bonds
<br />7,795,000
<br />6,485,000
<br />- - 7,795,000
<br />6,485,000
<br />Note payable - Anoka County
<br />1,345,000
<br />1,720,000
<br />- - 1,345,000
<br />1,720,000
<br />Bond premium
<br />140,831
<br />106,041
<br />- - 140,831
<br />106,041
<br />Total
<br />$27,741,081
<br />$24,717,291
<br />$0 $0 $27,741,081
<br />$24,717,291
<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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