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°^ CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1993
<br />Page 11 of 19
<br />All long-term bonded indebtedness outstanding at December 31,1993 is backed by the full faith and credit of the
<br />City, including special assessment bond issues. Delinquent assessments receivable at December 31, 1993
<br />totaled $43,036.
<br />The annual requirement to amortize all debt outstanding at December 31, 1993 including interest payments of
<br />$3,481,369 is as follows:
<br />1994 1995 1996 1997 1998 1999 and on Total
<br />General Obligation Bonds $379,160 $235,298 $99,900 $98,294 S111,188 51,473,670 52,397,510
<br />Special Assessment Bonds 5,051,452 530,779 576,303 593,295 418,940 3,220,798 10,391,567
<br />Revenue bonds 91,147 104,565 112,233 109,545 111,589 1,154,152 1,683,231
<br />Capital lease 2,482 2,482
<br />Total $5,524,241 $870,642 $788,436 $801,134 $641,717 $5,848,620 $14,474,790
<br />It is not practicable to determine the specific year for payment of assessments payable on City property.
<br />City indebtedness at December 31, 1993 is composed of the following.
<br />Final
<br />- Issue Mattuity Interest Original Payable
<br />Date Date Rates Issue 12/31/93
<br />General Obligation Bonds:
<br />1989A Equipment Certificates 5/1/89 5/1/94 7.65% $300,000 $60,000
<br />1989B Equipment Certificates 8/1/90 2/1/95 6.65% 275,000 120,000
<br />1990A Equipment Certificates 12/10/90 1/1/96 6.50% 88,500 36,000
<br />1991A Equipment Certificates 12/19/91 1/1/95 4.95%- 5.40% 135,000 45,000
<br />1992 Eguiprnent Certificates 1/1/93 2/1/95 3.75%- 4.15% 150,000 150,000
<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 2,063,500 1,526,000
<br />Vow
<br />Special Assessment Bonds:
<br />G. O. Improvement Bonds of 1988A 10/1/88 2/1/97 6.43% 1,160,000 655,000
<br />G. O. Temporary Improvement 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 3,490,000
<br />Total Special Assessment Bonds 9.060.000 8,405.000
<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
<br />Assessments payable on City property
<br />Capital lease - phone voice mail
<br />12,183,500 10,991,000
<br />10,510
<br />11/1/92 9/1/94 6.00% 6,253 2,421
<br />Total Indebtedness ,$12,189,753 $11,003,931
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