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Management’s Discussion and Analysis
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<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.
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<br />City of Lino Lakes’ Outstanding Debt
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<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.
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<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.
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<br />2024 2023 2024 2023 2024 2023
<br />General obligation bonds $14,875,000 $16,735,000 $ - $ - $14,875,000 $16,735,000
<br />G.O. special assessment bonds 195,000 415,000 - - 195,000 415,000
<br />Direct borrowings - 35,475 1,216,285 - 1,216,285 35,475
<br />Bond premium (discount)656,224 732,043 - - 656,224 732,043
<br /> Total $15,726,224 $17,917,518 $1,216,285 $0 $16,942,509 $17,917,518
<br />Business-Type Activities TotalsGovernmental Activities
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