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MIMEO
<br />CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1982
<br />Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
<br />PROPERTY, PLANT, AND EQUIPMENT - Continued
<br />A summary of proprietary fund type property, plant, and equipment at December
<br />31, 1982, follows:
<br />Water and Sewer
<br />Enterprise
<br />Well
<br />Buildings
<br />Equipment
<br />Water and sewer system
<br />Total
<br />Less: Accumulated depreciation
<br />Net
<br />A summary of general fixed assets and changes are as follows:
<br />Land
<br />Wells
<br />Buildings and
<br />improvements
<br />Equipment
<br />Total
<br />LONG-TERM DEBT
<br />Balance
<br />January 1 Additions
<br />$ 36,175
<br />6,216
<br />172, 965
<br />215,362
<br />$ 430,718
<br />$ 68,306
<br />$ 68,306
<br />Deletions
<br />$ 6,000
<br />$ 6,000
<br />$ 18,500
<br />48,690
<br />14,381
<br />897,497
<br />979,068
<br />(121,892)
<br />$ 857,176
<br />Balance
<br />December 31
<br />$ 36,175
<br />6,216
<br />172, 965
<br />277,668
<br />$ 493,024
<br />The following is a summary of long -term debt transactions of the City for the
<br />year ended December 31, 1982:
<br />Principal payable at
<br />January 1
<br />Additions:
<br />1982 G.O. Improvement
<br />Bonds
<br />Principal retirements
<br />Principal payable at
<br />December 31
<br />General Long -Term Debt
<br />General Certificates
<br />Obligation of Contracts
<br />Bonds Indebtedness Payable
<br />$ 10,000
<br />(10,000)
<br />$ -0-
<br />Total
<br />Special
<br />Assessment
<br />Bonds
<br />Total
<br />$ 132,400 $ 3,910 $ 146,310 $ 1,217,920 $ 1,364,230
<br />750,000 750,000
<br />(76,700) (1,242) (87,942) (981,320) (1,069,262)
<br />$ 55,700 $ 2,668 $ 58,368 $ 986,600 $ 1,044,968
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