|
Management's Discussion and Analysis
<br />Long-term debt. At the end of the current fiscal year, the City had total bonded debt
<br />outstanding of $16,942,509. 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 issued a water revenue note payable to the Minnesota Public Facilities Authority
<br />(MPFA) for construction costs of its water treatment plant. The City issued $1,216,285 on this
<br />note in 2024 and can borrow up to $15,996,190 over the construction period.
<br />City of Lino Lakes' Outstanding Debt
<br />Governmental Activities Business -Type Activities Totals
<br />2024
<br />2023
<br />2024
<br />2023 2024
<br />2023
<br />General obligation bonds
<br />$14,875,000
<br />$16,735,000
<br />$ -
<br />$ - $14,875,000
<br />$16,735,000
<br />G.O. special assessment bonds
<br />195,000
<br />415,000
<br />-
<br />- 195,000
<br />415,000
<br />Direct borrowings
<br />-
<br />35,475
<br />1,216,285
<br />- 1,216,285
<br />35,475
<br />Bond premium (discount)
<br />656,224
<br />732,043
<br />-
<br />- 656,224
<br />732,043
<br />Total
<br />$15,726,224
<br />$17,917,518
<br />$1,216,285
<br />$0 $16,942,509
<br />$17,917,518
<br />The City of Lino Lakes' total bonded debt decreased by $975,009 during the current fiscal year
<br />as regularly scheduled principal payments were made during the year. Additional information on
<br />the City's long-term debt can be found in Note 6.
<br />Requests for information. This financial report is designed to provide a general overview of
<br />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 Center
<br />Parkway, Lino Lakes, Minnesota, 55014.
<br />29
<br />
|