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City of Lino Lakes, Minnesota
<br />Management Report, Page 23
<br />A schedule of transactions of this fund from inception is as follows:
<br />Prior
<br />Years 1994 Total
<br />Revenue and other sources:
<br />Area and unit charges $4,490,033 $904,469 $5,394,502
<br />Interest on investments 425,097 144,674 569,771
<br />MSA 11,342 - 11,342
<br />Transfer from 1989 construction 29,842 29,842
<br />Transfer from Water Fund 361,572 183,667 545,239
<br />Total $5,317,886 $1,232,810 6,550,696
<br />Expenditures and other uses:
<br />Professional services $117,635 $ - 117,635
<br />Construction:
<br />Ware Road Utility Improvements 1,887 106,366 108,253
<br />Transfer to Interim Construction 73,183 73,183
<br />Transfer to 1991 Construction 388,965 388,965
<br />Debt Service:
<br />Transfer to Temp Bonds of 1990B 665,232 665,232
<br />Transfer to Temp Bonds of 1991A - 1,698,510 1,698,510
<br />Transfer to Water Fund 89,347 91,548 180,895
<br />Total $1,336,249 $1,896,424 3,232,673
<br />Fund balance $3,318,023
<br />Designations of balances required for debt service is necessary to define discretionary
<br />construction balances available to the City. The financing plan for the following bond issues have
<br />pledged area and unit charges for the repayment of debt service:
<br />Improvement Bonds of 1992A
<br />Water Reserve Bonds of 1992B
<br />Temporary Improvement Bonds of 1994
<br />The Improvement Bonds of 1992A have future scheduled property tax levies totaling
<br />$3,540,670. Revenue from area and unit charges are expected to be sufficient to cancel these
<br />levies.
<br />The Water Revenue Bonds of 1992B have future debt service requirements totaling
<br />$1,592,084 (principal and interest). The City annually transfers amounts from the Area and Unit
<br />Charge Fund to the Water Fund sufficient to cover the debt services of The Bonds of 1992B.
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