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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1992
<br />Page 10 of 19
<br />Note 3 FIXED ASSETS
<br />A summary of changes in general fixed assets is as follows:
<br />Land
<br />Buildings and structures
<br />Wells
<br />Furniture and equipment
<br />Totals
<br />Balance
<br />1/1/92
<br />$310,010
<br />579,352
<br />6,216
<br />1.224.019
<br />Additions
<br />$46,598
<br />178.256
<br />Balance
<br />Deletions 12/31/92
<br />$310,010
<br />625,950
<br />6,216
<br />1.402.275
<br />$2,119,597 _ $224,854 =44 $0 $2,344,451
<br />A summary of Proprietary Fund fixed assets at December 31, 1992 is as follows:
<br />Well
<br />Buildings and Structures
<br />Machinery and Equipment
<br />Water and Sewer Lines
<br />Acquisition costs - gas utility
<br />Construction in progress
<br />Total
<br />Less: Accumulated Depreciation
<br />Net Fixed Assets
<br />Note 4 CITY INDEBTEDNESS
<br />Water and
<br />Sewer
<br />$18,500
<br />48,690
<br />47,538
<br />6,949,185
<br />989,804
<br />8,053,717
<br />(674,470)
<br />Gas
<br />Utility Total
<br />$18,500
<br />48,690
<br />47,538
<br />6,949,185
<br />$2,375 2,375
<br />989,804
<br />2,375 8,056,092
<br />(674,470)
<br />$7,379,247 $2,375 $7,381,622
<br />The following is a schedule of changes in City indebtedness for the year ended December 31, 1992.
<br />Balance
<br />Balance
<br />1/1/92 Additions Deletions 12/31/92
<br />General Long Term Debt Account Group:
<br />Bonded debt
<br />General obligation $1,591,000 $135,000 $172,500 $1,553,500
<br />Special assessment debt
<br />with governmental commitment 10,990,500 3,640,000 4,915,500 9,715,000
<br />Assessment payable 142,553
<br />Capital lease payable 3,413
<br />Total general long term debt 12,727,466
<br />Proprietary Fund:
<br />Revenue bond
<br />6,253
<br />3,781,253
<br />1,060,000
<br />132,043
<br />3,439
<br />5,223,482
<br />10,510
<br />6,227
<br />11,285,237
<br />1,060,000
<br />Total $12,727,466 $4,841,253 $5,223,482 $12,345,237
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