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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1987 <br />NOTE 2 - DETAIL NOTES ON ALL FUND AND ACCOUNT GROUPS (CONTINUED) <br />FIXED ASSETS - PROPRIETARY FUNDS (CONTINUED) <br />A summary of proprietary fund assets at December 31,1987 is as follows: <br />Well $18,500 <br />Buildings and Structures 48,690 <br />Machinery and Equipment 17,421 <br />Water and Sewer lines 973.802 <br />Total 1,058,413 <br />Less: Accumulated Depreciation (236.217) <br />Net Fixed Assets $822,196 <br />CITY INDEBTEDNESS <br />The following is a schedule of changes in City indebtedness for the year ended December 31, 1987: <br />Page 9 of 19 <br />Balance Balance <br />1/1/87 Additions Deletions 12/31/87 <br />Bonded Debt: <br />General Obligation $72,500 $78,000 $35,000 $115,500 <br />Special Assessment 3,054,320 1,650,000 509,820 4,194,500 <br />Contract Payable 80,000 16,000 64,000 <br />Assessments Payable 148.096 148.096 <br />Totals $3,354,916 $1,728,000 $560,820 $4,522,096 <br />All bond issues outstanding at December 31, 1987 are backed by the full faith and credit of the City, including special assessment <br />bond issues. Outstanding balances at December 31, 1987, principal and interest payments due in 1988, final due dates, interest <br />rates, and other pertinent data are presented in the Combined Schedule of Indebtedness (Exhibit 1). Principal and interest payments <br />through maturity are presented in Exhibit 3. <br />