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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2017
<br />Depreciation expense was charged to functions/programs of the City as follows:
<br />Governmental activities:
<br />General government
<br />Public safety
<br />Public services
<br />Conservation ofnatural resources
<br />Community development
<br />Total depreciation expense -governmental activities
<br />Business-type activities:
<br />Water
<br />Sewer
<br />Total depreciation expense -business-type activities
<br />$361,534
<br />346,690
<br />2,248,202
<br />850
<br />2,407
<br />$2,959,683
<br />$580,804
<br />477,094
<br />$1,057,898
<br />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 />Final
<br />Issue Maturity Interest Original Payable
<br />Date Date Rare Issue ~1/17
<br />Govemmenta1 activities:
<br />General Obligation Bonds:
<br />2015A Certificates of Indebtedness 02/01/15 12/31118 1.00% $198,250 $66,250
<br />20158 Certificates oflndebtedness 08/25115 12/31/20 1.50% 963,000 593,000
<br />2016A Certificates oflndebtedness 02101/16 12/31/19 1.00% 469,000 314,000
<br />2017 A Certifciates of Indebtedness 03101/17 12/31/20 1.00% 311,000 311,000
<br />G.O. CIP Refunding Bonds, Series 2006E 11/01106 02/01/18 4.00% 2,990,000 425,000
<br />G.O. TIF Bonds, Series 2007 A 01115101 02101/24 4.00% -4.125% 4,215,000 1,625,000
<br />G.O. Refunding Bonds, Series 2012A 11115112 02/01/24 1.00%-2.00% 2,015,000 1,270,000
<br />G.O. Bonds 2015A 08/01/15 02101131 2.00% -3.00% 3,095,000 2,905,000
<br />EDA Lease Revenue Bonds 2015B IOI0l/15 04/01/36 2.00% -3.00% 4,350,000 4,185,000
<br />G.O. Utility Revenue Bonds, Series 2016A 11/23116 02/01/27 2.00% 1,420,000 1,420,000
<br />G.O. Tax Abatement Refimding Bonds 2016C 11/23/16 02/01/23 1.00%-1.50% l,600,000 t,600,000
<br />Total General Obligation Bonds 21,626,250 14,714,250
<br />Special Assessment Bonds:
<br />0.0. Imp & Utility Revenue Bonds. Series 2010A 01/091IO 02/01/20 2.0IWo -3.00% 1,000,000 325,000
<br />G.O. Improvement Bonds, Series, 2013A 01115113 02/01/24 1.25%-4.00% 615,000 435,000
<br />G.O. Improvement Bonds, Series 2014A 11/20114 02101/26 0.40%-2.30% 2,645,000 2,170,000
<br />G.O. Improvement Refunding Bonds, Series 2016B 11/23116 02101/21 0.875% -1.50%, 1,975,000 1,975,000
<br />Total Special Assessment Bonds 6J35,000 4,905,000
<br />G.O. Capital Note, Series 2016A 04/14116 211/2026 2.00% 294,525 233,475
<br />Unamortized bond premiums 199,750 142,182
<br />Unamortized bond discotmts (51,997) (18,664)
<br />Compensated absences payable NIA ~
<br />Total Government Activities $28,303,528 $20,745,151
<br />Business-Type Activities:
<br />Compensated absences payable NIA ~556 IV-26
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