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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2016
<br />Note 6 LONG-TERM DEBT
<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 />60
<br />Final
<br />Issue
<br />Maturity
<br />Interest
<br />Original
<br />Payable
<br />Date
<br />Date
<br />Rate
<br />Issue
<br />12/31/16
<br />Governmental activities:
<br />General Obligation Bonds:
<br />2014A Certificates ofIndebtedness
<br />2/1/14
<br />12/31/17
<br />1.00%
<br />$495,000
<br />$168,000
<br />2015A Certificates of Indebtedness
<br />2/1/15
<br />12/31/18
<br />1.00%
<br />198,250
<br />133,250
<br />2015B Certificates of Indebtedness
<br />8/25/15
<br />12/31/20
<br />1.50%
<br />963,000
<br />786,000
<br />2016A Certificates of Indebtedness
<br />2/1/16
<br />12/31/19
<br />1.00%
<br />469,000
<br />469,000
<br />G.O. Tax Abatement Bonds, Series 2006C
<br />8/15/06
<br />2/1/17
<br />4.00% - 4.30%
<br />2,460,000
<br />1,755,000
<br />G.O. Utility Revenue Bonds, Series 2006D
<br />8/15/06
<br />2/1/17
<br />4.00% - 4.15%
<br />570,000
<br />70,000
<br />G.O. CIP Refunding Bonds, Series 2006E
<br />11/1/06
<br />2/1/18
<br />4.00%
<br />2,990,000
<br />830,000
<br />G.O. TIF Bonds, Series 2007A
<br />7/15/17
<br />2/1/24
<br />4.00% - 4.125%
<br />4,215,000
<br />2,025,000
<br />G.O. Refunding Bonds, Series 2012A
<br />11/15/12
<br />2/1/24
<br />1.00% - 2.00%
<br />2,015,000
<br />1,495,000
<br />G.O. Bonds 2015A
<br />8/1/15
<br />2/1/31
<br />2.00% - 3.00%
<br />3,095,000
<br />3,095,000
<br />EDA Lease Revenue Bonds 2015B
<br />10/1/15
<br />4/1/36
<br />2.00% - 3.00%
<br />4,350,000
<br />4,350,000
<br />G.O. Utility Revenue Bonds, Series 2016A
<br />11/23/16
<br />2/1/27
<br />2.00%
<br />1,420,000
<br />1,420,000
<br />G.O. Tax Abatement Refunding Bonds 2016C
<br />11/23/16
<br />2/1/23
<br />1.00% -1.50%
<br />1,600,000
<br />1,600,000
<br />Total General Obligation Bonds
<br />24,840,250
<br />18,196,250
<br />Special Assessment Bonds:
<br />G.O. Improvement Bonds, Series 2005A
<br />11/1/05
<br />2/1/17
<br />4.35% - 5.15%
<br />5,550,000
<br />2,360,000
<br />G.O. Imp & Utility Revenue Bonds, Series 2010A
<br />7/9/10
<br />2/1/20
<br />2.00% - 3.00%
<br />1,000,000
<br />425,000
<br />G.O. Improvement Bonds, Series, 2013A
<br />7/15/13
<br />2/1/24
<br />1.25% - 4.00%
<br />615,000
<br />495,000
<br />G.O. Improvement Bonds, Series 2014A
<br />11/20/14
<br />2/1/26
<br />0.40% - 2.30%
<br />2,645,000
<br />2,540,000
<br />G.O. Improvement Refunding Bonds, Series 2016B
<br />11/23/16
<br />2/1/21
<br />0.875%- 1.50%
<br />1,975,000
<br />1,975,000
<br />Total Special Assessment Bonds
<br />11,785,000
<br />7,795,000
<br />G.O. Improvement Note, Series 2009A
<br />8/1/09
<br />8/1/20
<br />3.70% - 4.00%
<br />4,260,000
<br />1,345,000
<br />G.O. Capital Note, Series 2016A
<br />4/14/16
<br />2/1/26
<br />2.00%
<br />294,525
<br />264,000
<br />Unamortized bond premiums
<br />199,750
<br />166,322
<br />Unamortized bond discounts
<br />(51,997)
<br />(25,491)
<br />Compensated absences payable
<br />N/A
<br />734,415
<br />Total Government Activities
<br />$41,327,528
<br />$28,475,496
<br />Business -Type Activities:
<br />Compensated absences payable
<br />N/A
<br />$66,390
<br />60
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