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Management's Discussion and Analysis
<br />Long-term debt. At the end of the current fiscal year, the City had total bonded debt
<br />outstanding of $19,976,243. Of this amount, $14,714,250 comprises tax supported debt and
<br />$4,905,000 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 has a note payable to the City of Circle Pines for its share of the cost of
<br />capital equipment to be used by the North Metro Telecommunications Commission in the
<br />operation of a cable communications system in the amount of $233,475.
<br />City of Lino Lakes' Outstanding Debt
<br />Governmental Activities
<br />2017 2016
<br />Business -Type Activities
<br />2017 2016
<br />Totals
<br />2017 2016
<br />General obligation bonds
<br />$14,947,725
<br />$18,460,250 $ -
<br />$ $14,947,725
<br />$18,460,250
<br />G.O. special assessment bonds
<br />4,905,000
<br />7,795,000 -
<br />4,905,000
<br />7,795,000
<br />Note payable - Anoka County
<br />-
<br />1,345,000 -
<br />- -
<br />1,345,000
<br />Bond premium
<br />123,518
<br />140,831 -
<br />- 123,518
<br />140,831
<br />Total
<br />$19,976,243
<br />$27,741,081 $0
<br />$0 $19,976,243
<br />$27,741,081
<br />The City of Lino Lakes' total bonded debt decreased by $7,764,838 during the current fiscal
<br />year. The key factors for the change include the issuance of $311,000 of Certificates of
<br />Indebtedness to finance capital equipment purchases, as well as principal retired in the
<br />amount of $8,508,525 during the year.
<br />Additional information on the City's long-term debt can be found in Note 6.
<br />Requests for information. This financial report is designed to provide a general overview
<br />of the City's finances for all those with an interest in the government's finances. Questions
<br />concerning any of the information provided in this report or requests for additional financial
<br />information should be addressed to the Director of Finance, City of Lino Lakes, 600 Town
<br />Center Parkway, Lino Lakes, Minnesota, 55014.
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