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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2017
<br />
<br />
<br />
<br />
<br />years by $133,718 and to obtain an economic gain (difference between the present value of the debt service
<br />payments on the old and new debt) of $124,952.
<br />
<br />REVENUE PLEDGED
<br />
<br />Future revenue pledged for the payment of long-term debt is as follows:
<br />
<br />Remaining Principal Pledged
<br />Term of Principal and Interest Revenue
<br />Bond Issue Use of Proceeds Type Pledge and Interest Paid Received
<br />Certificates of Indebtedness Equipment purchases Ad valorem taxes 2015 - 2020 $1,316,355 $606,792 $633,871
<br />2006E G.O. CIP Bonds Infrastructure improvements Ad valorem taxes 2007 - 2017 $433,500 $431,657 $462,493
<br />2007A G.O. TIF Bonds Infrastructure improvements MSA funding via 2008 - 2023 $1,874,899 $475,481 $475,481
<br />transfers, tax increment
<br />2011 - 2019 $339,925 $111,955 $46,247
<br />2012A G.O. Bonds Infrastructure improvements Ad valorem taxes and 2013 - 2023 $1,328,093 $242,020 $200,014
<br />Special assessments
<br />2013A Improvement Bonds Infrastructure improvements Special assessments 2014 - 2023 $494,160 $76,853 $63,606
<br />2014A Improvement Bonds Infrastructure improvements Special assessments 2015 - 2025 $2,294,501 $402,927 $251,212
<br />2015A G.O. Bonds Infrastructure improvements Ad valorem taxes 2016 - 2030 $3,397,356 $257,817 $271,621
<br />2015B EDA Lease Revenue Bonds Construction of a fire station Ad valorem taxes 2016 - 2035 $5,687,956 $299,942 $315,855
<br />2016A Capital Note Cable communications equipment Franchise fees 2016 - 2025 $252,516 $37,595 $37,595
<br />2016A Utility Revenue Bonds Water infrastructure improvements 2017 - 2026 $1,565,300 $20,269 $274,474
<br />2016B Improvement Bonds Infrastructure improvements Special assessments, 2017 - 2020 $2,028,048 $17,015 $ -
<br />tax increment
<br />2016C G.O. Tax Abatement Bonds Infrastructure improvements Ad valorem taxes 2017 - 2022 $1,668,913 $14,671 $259,710
<br />Trunk utility charges via
<br />transfers
<br />Revenue Pledged Current Year
<br />2010A Improvement and Utility
<br />Revenue Bonds
<br />General and water infrastructure
<br />improvements
<br />Special assessments and
<br />trunk charges
<br />
<br />
<br />Note 7 CONDUIT DEBT
<br />
<br />The City has issued Industrial Development Revenue Bonds and Commercial Revenue Notes to provide
<br />financial assistance to private-sector entities for the acquisition and construction of industrial and commercial
<br />facilities which are deemed to be in the public interest. The bonds are secured by the property financed and are
<br />payable solely from payments on the underlying mortgage loans. Upon repayment of the bonds, ownership of
<br />the acquired facilities transfers to the private sector entity served by the bond issue. The City is not obligated in
<br />any manner for the repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the
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