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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2017
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<br />Note 6 LONG-TERM DEBT
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<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 />
<br />Final
<br />Issue Maturity Interest Original Payable
<br />Date Date Rate Issue 12/31/17
<br />Governmental activities:
<br />General Obligation Bonds:
<br />2015A Certificates of Indebtedness 02/01/15 12/31/18 1.00% $198,250 $66,250
<br />2015B Certificates of Indebtedness 08/25/15 12/31/20 1.50%963,000 593,000
<br />2016A Certificates of Indebtedness 02/01/16 12/31/19 1.00%469,000 314,000
<br />2017A Certifciates of Indebtedness 03/01/17 12/31/20 1.00%311,000 311,000
<br />G.O. CIP Refunding Bonds, Series 2006E 11/01/06 02/01/18 4.00% 2,990,000 425,000
<br />G.O. TIF Bonds, Series 2007A 07/15/07 02/01/24 4.00% - 4.125% 4,215,000 1,625,000
<br />G.O. Refunding Bonds, Series 2012A 11/15/12 02/01/24 1.00% - 2.00% 2,015,000 1,270,000
<br />G.O. Bonds 2015A 08/01/15 02/01/31 2.00% - 3.00% 3,095,000 2,905,000
<br />EDA Lease Revenue Bonds 2015B 10/01/15 04/01/36 2.00% - 3.00% 4,350,000 4,185,000
<br />G.O. Utility Revenue Bonds, Series 2016A 11/23/16 02/01/27 2.00% 1,420,000 1,420,000
<br />G.O. Tax Abatement Refunding Bonds 2016C 11/23/16 02/01/23 1.00% - 1.50% 1,600,000 1,600,000
<br />Total General Obligation Bonds 21,626,250 14,714,250
<br />Special Assessment Bonds:
<br />G.O. Imp & Utility Revenue Bonds, Series 2010A 07/09/10 02/01/20 2.00% - 3.00% 1,000,000 325,000
<br />G.O. Improvement Bonds, Series, 2013A 07/15/13 02/01/24 1.25% - 4.00% 615,000 435,000
<br />G.O. Improvement Bonds, Series 2014A 11/20/14 02/01/26 0.40% - 2.30% 2,645,000 2,170,000
<br />G.O. Improvement Refunding Bonds, Series 2016B 11/23/16 02/01/21 0.875% - 1.50% 1,975,000 1,975,000
<br />Total Special Assessment Bonds 6,235,000 4,905,000
<br />G.O. Capital Note, Series 2016A 04/14/16 2/1/2026 2.00%294,525 233,475
<br />Unamortized bond premiums 199,750 142,182
<br />Unamortized bond discounts (51,997) (18,664)
<br />Compensated absences payable N/A 768,908
<br />Total Government Activities $28,303,528 $20,745,151
<br />Business-Type Activities:
<br />Compensated absences payable N/A $66,556
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