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• <br />• <br />duly levied by said City in an amount sufficient to pay the principal and interest on this <br />Certificate, together with all other existing indebtedness of the said City, does not exceed <br />any constitutional or statutory limitation on indebtedness. <br />Adopted by the City Council of Lino Lakes, Minnesota, this 24th day of January, 2005. <br />John Bergeson, Mayor <br />Ann Blair, City Clerk <br />Page 2 <br />SCHEDULE OF PAYMENTS <br />2005 CERTIFICATES OF INDEBTEDNESS - <br />December 31, 2006 <br />December 31, 2007 <br />December 31, 2008 <br />Total <br />Interest Rate - 4% <br />Levy 2004 Payable 2005 <br />Levy 2005 Payable 2006 <br />Levy 2006 Payable 2007 <br />FEBRUARY 1, 2005 <br />PRINCIPAL <br />$ 35,000.00 <br />35,000.00 <br />37,000.00 <br />$107,000.00 <br />INTEREST <br />$ 8,203.00 <br />2,880.00 <br />1,480.00 <br />$ 12,563.00 <br />TOTAL <br />$ 43,203.00 <br />37,880.00 <br />38,480.00 <br />$119,563.00 <br />$ 45,364.00 (includes 5% overlevy) <br />39,774.00 <br />40,404.00 <br />Total $125,542.00 <br />