Laserfiche WebLink
Management’s Discussion and Analysis <br /> <br /> <br />Long-term debt. At the end of the current fiscal year, the City had total bonded debt <br />outstanding of $17,917,518. 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 $35,475. <br /> <br />City of Lino Lakes’ Outstanding Debt <br /> <br />2023 2022 2023 2022 2023 2022 <br />General obligation bonds $16,735,000 $18,825,000 $ - $ - $16,735,000 $18,825,000 <br />G.O. special assessment bonds 415,000 630,000 - - 415,000 630,000 <br />Direct borrowings 35,475 170,360 - - 35,475 170,360 <br />Bond premium (discount)732,043 806,753 - - 732,043 806,753 <br /> Total $17,917,518 $20,432,113 $0 $0 $17,917,518 $20,432,113 <br />Business-Type Activities TotalsGovernmental Activities <br /> <br />The City of Lino Lakes’ total bonded debt decreased by $2,514,595 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. <br /> <br />Requests for information. This financial report is designed to provide a general overview <br />of the City’s finances for all those with an interest in the government’s finances. Questions <br />concerning any of the information provided in this report or requests for additional financial <br />information should be addressed to the Finance Director, City of Lino Lakes, 600 Town <br />Center Parkway, Lino Lakes, Minnesota, 55014. <br /> <br />29 <br />36