06-14-2021 Council Packet - Laserfiche WebLink

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- 11 - Ten of the Largest Taxpayers in the City 2020/21 Net Taxpayer Type of Property Tax Capacity AX Lino Lakes LP Commercial $ 398,754 Biynah MN WI LLC Industrial 349,912 US Home Residential 243,725 Target Corporation Retail 239,248 Xcel Energy Utility 231,476 Minnegasco Inc. Utility 176,296 Lino Lakes Assisted Living Residential 167,796 LLAH Limited Partnership Residential 144,733 Gargaro Properties Inc. Industrial 123,474 Tomas Commercial Real Estate Industrial 104,240 Total $2,179,654* * Represents 7.8% of the City's 2020/21 adjusted taxable net tax capacity. CITY INDEBTEDNESS Legal Debt Limit and Debt Margin* Legal Debt Limit (3% of 2020/21 Estimated Market Value) $ 76,205,334 Less: Outstanding Debt Subject to Limit (13,143,720) Legal Debt Margin as of July 15, 2021 $ 63,061,614 * The legal debt margin is referred to statutorily as the “Net Debt Limit” and may be increased by debt service funds and current revenues which are applicable to the payment of debt in the current fiscal year. NOTE: Certain types of debt are not subject to the legal debt limit. See Appendix III – Debt Limitations. General Obligation Debt Supported Solely by Taxes* Est. Principal Date Original Final Outstanding of Issue Amount Purpose Maturity As of 7-15-21 11-15-12 $1,580,000 Improvements 2-1-2024 $ 490,000 5-28-15 2,635,000 Street Reconstruction 2-1-2031 1,870,000 1-16-16 294,525 Capital Equipment 2-1-2026 136,950 2-1-18 303,900 Equipment Certificates 12-31-2021 100,000 12-19-18 4,950,000 Street Reconstruction 2-1-2034 4,690,000 2-1-19 388,535 Equipment Certificates 12-31-2022 262,535 1-1-2020 294,235 Certificates of Indebtedness 12-31-2023 294,235 7-15-21 1,815,000 Street Reconstruction (the Bonds) 2-1-2032 1,815,000 Total $9,658,720 * These issues are subject to the legal debt limit.