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low <br />Vow <br />MO <br />City of Lino Lakes, Minnesota <br />Management Report <br />Capital Project Funds <br />1996 Construction <br />This fund was established to account for projects financed by the Improvement Bonds of <br />1996A. A summary of the financial activity of this fund since inception is as follows: <br />Bond Construction <br />Proceeds Costs Variance <br />Trapper's Crossings $954,581 $898,030 $56,551 <br />Marshan condominiums 753,617 671,077 82,540 <br />Centennial School 1,607,716 1,351,049 256,667 <br />Pheasant Hills 7th addition 401,929 228,485 173,444 <br />12th Avenue and Holly Drive - 2,201 (2,201) <br />Total $3,717,843 $3,150,842 567,001 <br />Interest earnings 71,518 <br />Fund balance - December 31, 1997 $638,519 <br />The Trapper's Crossing and Marshan condominium projects were assessed during 1996. <br />Centennial School and Pheasant Hills 7th Addition were assessed in 1997. <br />1997 Construction <br />This fund was established to account for projects to be financed by the 1997 Bonds. <br />During 1996, preliminary costs were incurred on the Otter Lake Road realignment, Otter Lake <br />Service Road, and Trapper's Crossing II projects. The projects will be bonded in 1997. <br />Apollo Business Park <br />This fund was established in 1992 to account for construction costs in developing the City's <br />industrial park. This fund had a fund balance of $480,258 at December 31, 1997. <br />Apollo Drive Construction <br />This fund was established in 1992 to account for improvements to Apollo Drive. The fund <br />balance of this fund was $337,336 at December 31, 1997. <br />