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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2021
<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, 2021 consisted of the
<br />following:
<br />Final
<br />Issue
<br />Maturity
<br />Interest
<br />Original
<br />Payable
<br />Date
<br />Date
<br />Rate
<br />Issue
<br />12/31/2021
<br />Governmental activities:
<br />General Obligation Bonds:
<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 />$790,000
<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 />490,000
<br />G.O. Bonds, Series 2015A
<br />08/01/15
<br />02/01/31
<br />2.00% - 3.00%
<br />3,095,000
<br />2,105,000
<br />EDA Lease Revenue Bonds, Series 2015B
<br />10/01/15
<br />04/01/36
<br />2.00% - 3.00%
<br />4,350,000
<br />3,485,000
<br />G.O. Utility Revenue Bonds, Series 2016A
<br />11/23/16
<br />02/01/27
<br />2.00%
<br />1,420,000
<br />875,000
<br />G.O. TaxAbatement Refunding Bonds, Series 2016C
<br />11/23/16
<br />02/01/23
<br />1.00% - 1.50%
<br />1,600,000
<br />595,000
<br />G.O. Bonds, Series 2018A
<br />12/19/18
<br />02/01/34
<br />3.00% - 5.00%
<br />6,915,000
<br />6,460,000
<br />G.O Utility Revenue Bonds, Series 2020A
<br />07/08/20
<br />02/01/35
<br />2.00% - 4.00%
<br />4,330,000
<br />4,055,000
<br />G.O. Street Reconstruction Bonds, Series 2021A
<br />07/15/21
<br />02/01/32
<br />1.00% - 4.001/o
<br />1,815,000
<br />1,815,000
<br />Total General Obligation Bonds
<br />29,755,000
<br />20,670,000
<br />Special Assessment Bonds:
<br />G.O. Improvement Bonds, Series, 2013A
<br />07/ 15/ 13
<br />02/01/24
<br />1.25% - 4.001/o
<br />615,000
<br />195,000
<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 />650,000
<br />Total Special Assessment Bonds
<br />5,235,000
<br />845,000
<br />Direct Borrowings:
<br />G.O. Certificates oflndebtedness, Series 2019
<br />02/01/19
<br />12/31/22
<br />1.00%
<br />388,535
<br />131,535
<br />G.O. Capital Note, Series 2016A
<br />04/14/16
<br />02/01/26
<br />2.00%
<br />294,525
<br />103,950
<br />G.O. Certificates oflndebtness 2020A
<br />01/01/20
<br />12/31/23
<br />1.00%
<br />294,235
<br />199,235
<br />Total Direct Borrowings
<br />1,281,195
<br />434,720
<br />Unamortized bond premiums
<br />1,102,333
<br />889,410
<br />Unamortized bond discounts
<br />(38,362)
<br />(7,948)
<br />Compensated absences payable
<br />N/A
<br />857,546
<br />Total Government Activities
<br />Business -Type Activities:
<br />Compensated absences payable
<br />$37.335.166 $23,688,728
<br />N/A $50.396
<br />58
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