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T <br />City of Lino Lakes, Minnesota <br />Management Report, Page 40 <br />During 1996, the City issued the Water Revenue Bonds of 1996B. These bonds were issued <br />to construct water improvements. A summary of the financial activity of these projects during <br />1996 is as follows: <br />Total Costs <br />12/31/96 <br />Well No. 3 pumphouse $551,869 <br />Tower No. 2 532,247 <br />Birch Street trunk water 618,892 <br />Otter Lake Road trunk utilities 1,052,144 <br />Total construction in progress 2,755,152 <br />Contract payable at 12/31/96 (624,369) <br />Cash outlay 2,130,783 <br />Bond proceeds 3,283,495 <br />Cash available for construction S1,152,712 <br />As of December 31, 1996, the cash balance in the Water Fund was $1,693,516 of which <br />$1,152,712 is restricted for future construction costs. <br />