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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1992
<br />Page 11 of 19
<br />,.. All long -term bonded indebtedness outstanding at December 31, 1992 is backed by the full faith and credit of the
<br />City, including special assessment bond issues. Delinquent assessments receivable at December 31, 1992
<br />totaled $118,688.
<br />w' The annual requirement to amortize all debt outstanding at December 31, 1992 including interest payments of
<br />$4,301,692 is as follows:
<br />1993 1994 1995 1996 1997 1998 and on Total
<br />General Obligation Bonds $279,679 $272,850 $183,223 $99,900 $98,294 $1,584,858 $2,518,804
<br />Special Assessment Debt
<br />w /govtl commitment 1,947,319 5,051,452 530,779 576,303 593,295 3,639,738 12,338,886
<br />Revenue bonds 88,946 91,147 104,565 112,233 109,545 1,265,741 1,772,177
<br />Capital lease 4.061 2.491 6.552
<br />Total 52,320,005 55,417.940 5818,567 $788.436 $801_,13 6 4 337 $16.636,419
<br />It is not practicable to determine the specific year for payment of assessments payable on City property.
<br />City indebtedness at December 31, 1992 is composed of the following:
<br />Final
<br />Issue Maturity Interest Original Payable
<br />Date Date Rates Issue 12/31/92
<br />General Obligation Bonds:
<br />1989A Equipment Certificates 5/1/89 5/1/94 7.65% $300,000 $120,000
<br />1989B Equipment Certificates 8/1/90 2/1/95 6.65% 275,000 175,000
<br />1990A Equipment Certificates 12/10/90 1/1/96 6.50% 88,500 53,500
<br />1991A Equipment Certificates 12/19/91 1/1/95 4.95% -5.40% 135,000 90,000
<br />Public Project Revenue Bonds - 1990A 10/1/90 2/1/10 7.12% 1,115,000 1,115,000
<br />Total General Obligation Bonds 1,913,500 1,553,500
<br />General Improvement Bonds with special assessments pledged:
<br />G. O. L«pruvement Bonds of 1988A 10/1/88 2/1/97 6.43% 1,160,000 800,000
<br />"" G. O. Temporary Improvement Bonds of 1990B 8/1/90 8/1/93 6.10% 1,015,000 1,015,000
<br />G. O. Temporary Itupovement Bonds of 1991A 8/1/91 8/1/94 5.83% 4,260,000 4,260,000
<br />G. O. Improvement Refunding Bonds, Series 1992A 4/1/92 2/1/06 6.51% 3,640,000 3,640,000
<br />Total General Inipiovement Bonds with
<br />special assessments pledged 10,075,000 9,715,000
<br />Revenue Bonds:
<br />G. O. Water Revenue Bonds, Series 1992B 4/1/92 2/1/08 6.67% 1,060,000 1,060,000
<br />Total - All Bonds 13,048,500 12,328,500
<br />Assessments payable on City property 10,510
<br />Capital lease - phone system 5/89 3/93 14.92% 9,249 734
<br />Capital lease - phone voice mail 11/1/92 9/1/94 6.00% 6.253 5.493
<br />Total Indebtedness $13,064,002 $12,345,237
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