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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2017
<br />years by $133,718 and to obtain an economic gain (difference between the present value of the debt service
<br />payments on the old and new debt) of $124,952.
<br />REVENUE PLEDGED
<br />Future revenue pledged for the payment of long-term debt is as follows:
<br />Bond Issue
<br />Use of Proceeds
<br />Revenue Pled ed
<br />Current Year
<br />Type
<br />Term of
<br />Pledge
<br />Remaining
<br />Principal
<br />and Interest
<br />Principal
<br />and Interest
<br />Paid
<br />Pledged
<br />Revenue
<br />Received
<br />Certificates of Indebtedness
<br />Equipment purchases
<br />Ad valorem taxes
<br />2015-2020
<br />$1,316,355
<br />$606,792
<br />$633,871
<br />2006E G.O. CIP Bonds
<br />Infrastructure improvements
<br />Ad valorem taxes
<br />2007-2017
<br />$433,500
<br />$431,657
<br />$462,493
<br />2007A G.O. TIF Bonds
<br />Infrastructure improvements
<br />MSA funding via
<br />transfers, tax increment
<br />2008-2023
<br />$1,874,899
<br />$475,481
<br />$475,481
<br />2010A Improvement and Utility
<br />Revenue Bonds
<br />General and water infrastructure
<br />improvements
<br />Special assessments and
<br />trunk charges
<br />2011-2019
<br />$339,925
<br />$111,955
<br />$46,247
<br />2012A G.O. Bonds
<br />Infrastructure improvements
<br />Ad valorem taxes and
<br />Special assessments
<br />2013-2023
<br />$1,328,093
<br />$242,020
<br />$200,014
<br />2013A Improvement Bonds
<br />Infrastructure improvements
<br />Special assessments
<br />2014-2023
<br />$494,160
<br />$76,853
<br />$63,606
<br />2014A Improvement Bonds
<br />Infrastructure improvements
<br />Special assessments
<br />2015-2025
<br />$2,294,501
<br />$402,927
<br />$251,212
<br />2015A G.O. Bonds
<br />Infrastructure improvements
<br />Ad valorem taxes
<br />2016-2030
<br />$3,397,356
<br />$257,817
<br />$271,621
<br />2015B EDA Lease Revenue Bonds
<br />Construction of a fire station
<br />Ad valorem taxes
<br />2016-2035
<br />$5,687,956
<br />$299,942
<br />$315,855
<br />2016A Capital Note
<br />Cable communications equipment
<br />Franchise fees
<br />2016-2025
<br />$252,516
<br />$37,595
<br />$37,595
<br />2016A Utility Revenue Bonds
<br />Water infrastructure improvements
<br />Trunk utility charges via
<br />transfers
<br />2017-2026
<br />$1,565,300
<br />$20,269
<br />$274,474
<br />2016B Improvement Bonds
<br />Infrastructure improvements
<br />Special assessments,
<br />tax increment
<br />2017-2020
<br />$2,028,048
<br />$17,015
<br />$ -
<br />2016C G.O. Tax Abatement Bonds
<br />Infrastructure improvements
<br />Ad valorem taxes
<br />2017-2022
<br />$1,668,913
<br />$14,671
<br />$259,710
<br />Note 7 CONDUIT DEBT
<br />The City has issued Industrial Development Revenue Bonds and Commercial Revenue Notes to provide
<br />financial assistance to private -sector entities for the acquisition and construction of industrial and commercial
<br />facilities which are deemed to be in the public interest. The bonds are secured by the property financed and are
<br />payable solely from payments on the underlying mortgage loans. Upon repayment of the bonds, ownership of
<br />the acquired facilities transfers to the private sector entity served by the bond issue. The City is not obligated in
<br />any manner for the repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the
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