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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1984
<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, 1984, 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 />$ 160,151
<br />6,216
<br />176,465
<br />353,924
<br />$ 696,756
<br />$ 5,763
<br />25,498
<br />$ 31,261
<br />$ 18,500
<br />48,690
<br />14,821
<br />955,502
<br />1,037,513
<br />165,576
<br />$ 871,937
<br />Balance
<br />Deletions December 31,
<br />$ 160,151
<br />6,216
<br />182,228
<br />379,422
<br />$ -0- $ 728,017
<br />The following is a summary of long -term debt transactions of the City for the
<br />year ended December 31, 1984:
<br />Principal payable at
<br />January 1
<br />Additions:
<br />1984 G.O. Improvement
<br />Bonds
<br />Assessments
<br />Payable on
<br />City Property
<br />$122,524
<br />Principal retirements 1,282
<br />Principal payable at
<br />December 31
<br />Contracts Special
<br />Payable Assessment
<br />Totals
<br />$ 6,673 $1,035,280 $1,164,477
<br />2,594
<br />35,000
<br />111,320
<br />35,000
<br />115,196
<br />$121,242 $ 4,079 $ 958,960 $1,084,281
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