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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2017
<br />Note 6 LONG-TERM DEBT
<br />The City issues general obligation bonds and certificates of indebtedness to provide funds for the acquisition and
<br />construction of major capital facilities and equipment. City indebtedness at December 31, 2017 consisted of the
<br />following:
<br />Total Government Activities
<br />Business -Type Activities:
<br />Compensated absences payable
<br />60
<br />$28,303,528 $20,745,151
<br />N/A $66,556
<br />Final
<br />Issue
<br />Maturity
<br />Interest
<br />Original
<br />Payable
<br />Date
<br />Date
<br />Rate
<br />Issue
<br />12/31/17
<br />Governmental activities:
<br />General Obligation Bonds:
<br />2015A Certificates of Indebtedness
<br />02/01/15
<br />12/31/18
<br />1.00%
<br />$198,250
<br />$66,250
<br />2015B Certificates of Indebtedness
<br />08/25/15
<br />12/31/20
<br />1.50%
<br />963,000
<br />593,000
<br />2016A Certificates of Indebtedness
<br />02/01/16
<br />12/31/19
<br />1.00%
<br />469,000
<br />314,000
<br />2017A Certifciates of Indebtedness
<br />03/01/17
<br />12/31/20
<br />1.00%
<br />311,000
<br />311,000
<br />G.O. CIP Refunding Bonds, Series 2006E
<br />11/01/06
<br />02/01/18
<br />4.00%
<br />2,990,000
<br />425,000
<br />G.O. TIF Bonds, Series 2007A
<br />07/15/07
<br />02/01/24
<br />4.00%- 4.125%
<br />4,215,000
<br />1,625,000
<br />G.O. Refunding Bonds, Series 2012A
<br />11/15/12
<br />02/01/24
<br />1.00% - 2.00%
<br />2,015,000
<br />1,270,000
<br />G.O. Bonds 2015A
<br />08/01/15
<br />02/01/31
<br />2.00% - 3.00%
<br />3,095,000
<br />2,905,000
<br />EDA Lease Revenue Bonds 2015B
<br />10/01/15
<br />04/01/36
<br />2.00% - 3.00%
<br />4,350,000
<br />4,185,000
<br />G.O. Utility Revenue Bonds, Series 2016A
<br />11/23/16
<br />02/01/27
<br />2.00%
<br />1,420,000
<br />1,420,000
<br />G.O. Tax Abatement Refunding Bonds 2016C
<br />11/23/16
<br />02/01/23
<br />1.00% -1.50%
<br />1,600,000
<br />1,600,000
<br />Total General Obligation Bonds
<br />21,626,250
<br />14,714,250
<br />Special Assessment Bonds:
<br />G.O. Imp & Utility Revenue Bonds, Series 2010A
<br />07/09/10
<br />02/01/20
<br />2.00% - 3.00%
<br />1,000,000
<br />325,000
<br />G.O. Improvement Bonds, Series, 2013A
<br />07/15/13
<br />02/01/24
<br />1.25% - 4.00%
<br />615,000
<br />435,000
<br />G.O. Improvement Bonds, Series 2014A
<br />11/20/14
<br />02/01/26
<br />0.40% - 2.30%
<br />2,645,000
<br />2,170,000
<br />G.O. Improvement Refunding Bonds, Series 2016B
<br />11/23/16
<br />02/01/21
<br />0.875% -1.50%
<br />1,975,000
<br />1,975,000
<br />Total Special Assessment Bonds
<br />6,235,000
<br />4,905,000
<br />G.O. Capital Note, Series 2016A
<br />04/14/16
<br />2/1/2026
<br />2.00%
<br />294,525
<br />233,475
<br />Unamortized bond premiums
<br />199,750
<br />142,182
<br />Unamortized bond discounts
<br />(51,997)
<br />(18,664)
<br />Compensated absences payable
<br />N/A
<br />768,908
<br />Total Government Activities
<br />Business -Type Activities:
<br />Compensated absences payable
<br />60
<br />$28,303,528 $20,745,151
<br />N/A $66,556
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