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Management’s Discussion and Analysis
<br />
<br />
<br />The 2021 Street Reconstruction Project, drainage improvements in the NE Area of the city,
<br />hard court facility at Tower Park, and Woods of Baldwin Lake park improvements were
<br />completed. The city has continued to work to complete trunk utility improvements at 49&J,
<br />East Shadow Lake Drive sanitary sewer replacement, and I35E storm pipe crossing.
<br />
<br />Developer lead infrastructure improvements at various stages of completion include Belland
<br />Farms, Lyngblomsten, Nature’s Refuge, Otter Crossing, and Watermark 2nd, 3rd, and 4th
<br />additions.
<br />
<br />City of Lino Lakes’ Capital Assets
<br />(Net of Depreciation)
<br />
<br />2022 2021 2022 2021 2022 2021
<br />Land $5,675,330 $5,675,330 $ - $ - $5,675,330 $5,675,330
<br />Wetland credits 49,042 49,042 - - 49,042 49,042
<br />Construction in progress 8,635,602 7,861,679 9,883,094 3,239,205 18,518,696 11,100,884
<br />Buildings 9,460,073 10,111,498 - - 9,460,073 10,111,498
<br />Office equipment and furniture 199,471 253,393 - - 199,471 253,393
<br />Vehicles 1,843,763 1,809,364 - - 1,843,763 1,809,364
<br />Machinery and shop equipment 956,330 1,125,742 429,815 368,489 1,386,145 1,494,231
<br />Other equipment 1,764,517 1,065,828 - - 1,764,517 1,065,828
<br />Infrastructure 34,687,717 33,176,379 39,479,654 39,958,322 74,167,371 73,134,701
<br /> Total $63,271,845 $61,128,255 $49,792,563 $43,566,016 $113,064,408 $104,694,271
<br />Governmental Activities Business-Type Activities Totals
<br />
<br />Additional information on the City’s capital assets can be found in Note 5 to the financial
<br />statements.
<br />
<br />Long-term debt. At the end of the current fiscal year, the City had total bonded debt
<br />outstanding of $20,432,113. All outstanding debt carries the general obligation backing for
<br />which the City is liable in the event of default by the property owners subject to the specific
<br />taxes, special assessments, or revenues pledged to the retirement of the debt. In addition, the
<br />City has a note payable to the City of Circle Pines for its share of the cost of capital
<br />equipment to be used by the North Metro Telecommunications Commission in the operation
<br />of a cable communications system in the amount of $70,125.
<br />
<br />City of Lino Lakes’ Outstanding Debt
<br />
<br />2022 2021 2022 2021 2022 2021
<br />General obligation bonds $18,825,000 $20,670,000 $ - $ - $18,825,000 $20,670,000
<br />G.O. special assessment bonds 630,000 845,000 - - 630,000 845,000
<br />Direct borrowings 170,360 434,720 - - 170,360 434,720
<br />Bond premium (discount)806,753 881,462 - - 806,753 881,462
<br /> Total $20,432,113 $22,831,182 $0 $0 $20,432,113 $22,831,182
<br />Business-Type Activities TotalsGovernmental Activities
<br />
<br />The City of Lino Lakes’ total bonded debt decreased by $2,399,069 during the current fiscal
<br />year. No new debt was issued, while regularly scheduled principal payments were made
<br />during the year. Additional information on the City’s long-term debt can be found in Note 6.
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