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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2019
<br />Depreciation expense was charged to ftmctions/programs of the City as follows:
<br />Governmental activities:
<br />General go"'1'1lmenl
<br />Public safety
<br />Public services
<br />Conservation of natural resources
<br />Total depreciation expense -governmental activities
<br />Business-type activities:
<br />Water
<br />Sewer
<br />Total depreciation expense -business-type activities
<br />$452,015
<br />303,536
<br />2,232,514
<br />850
<br />$2,988,915
<br />$603,559
<br />495,816
<br />$1,099,375
<br />CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2019
<br />Note 6 WNG-TERM DEBT
<br />The City issues general obligation bonds and certificates of indebtedness to provide ftmds for the acquisition and
<br />construction of major capital facilities and equipment. City indebtedness at December 31, 2019 consisted of the
<br />following:
<br />Final
<br />Issue Maturity Interest Original Payable
<br />_.!!!\L_ _.!!!\L_ RJl!e Issue 12/31/19
<br />Go"Yenunental activities:
<br />General Obligation Bonds:
<br />G.O. 11F Bonds, Series 2007 A 07/15/07 02/01/24 4.00%-4.125% $4,215,000 $1,235,000
<br />G.O. RefimdingBonds, Series 2012A 11/15/12 02/01/24 1.00% • 2.00% 2,015,000 810,000
<br />G.O.Bonds,Serics 2015A 08/01/15 02/01/31 2.00% -3.00% 3,095,000 2,510,000
<br />EDA Lease Re'\ellue Bonds, Series 2015B 10/01/15 04/01/36 2.00% -3.00% 4,350,000 3,840,000
<br />G.O. Utility Revenue Bonds, Series 2016A 11/23/16 02/01/27 2.00% 1,420,000 1,155,000
<br />G.0. TaxAbatementReftmdingBonds, Series 2016C 11/23/16 02/01/23 1.00%-1.50% 1,600,000 1,130,000
<br />G.O. Bonds, Series 2018A 12/19/18 02/01/34 3.00% -5.00% 6,915,000 6,915,000
<br />Total General Obligation Bonds 23,610,000 17,595,000
<br />Special Assessment Bonds:
<br />G.O. Imp& Utility Rewnue Bonds, Series 2010A 07/09/10 02/01/20 2.00% • 3.00% 1,000,000 115,000
<br />G.O. Improwment Bonds, Series, 2013A 07/15/13 02/01/24 1.25%-4.00% 615,000 315,000
<br />G.O. Improvement Bonds, Series 2014A 11/20/14 02/01/26 0.40% -2.30% 2,645,000 1,420,000
<br />G.O. Improvement Refunding Bonds, Series 20168 11/23/16 02/01/21 0.875%-1.50% 1,975,000 1,005,000
<br />Total Special Assessment Bonds 6J35,000 ~000
<br />Direct Borrowings:
<br />G.O. Certificates of Indebtedness. Series 2015 08/25/15 12/31/20 1.50% 963,000 201,000
<br />G.O. Certificates of Indebtedness, Series 2017 03/01/17 12/31/20 1.00% 311,000 105,000
<br />G.O. Certificates of Indebtedness, Series 2018 02/01/18 12/31/21 1.00% 303,900 200,000
<br />0.0. Certificates of Indebtedness, Series 2019 02/01/19 12/31/22 1.00% 388,535 388,535
<br />G.O. Capital Note, Series 2016A 04/14/16 02/01/26 2.00% 294J25 ~
<br />Total Direct Borrowing,; 2J60,960 1,064,485
<br />Unamortiz.ed bond premiums 575,188 476,139
<br />Unamortized bond discounts (38,362) (13,310)
<br />Compensated absences payable NIA ~
<br />Total Go-.ernm.cnt Activities $32,642,786 $22,778,496
<br />Business-Type Activities:
<br />Compensated absences payable NIA ____ll2d68 IV-25
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