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City of Lino Lakes, Minnesota <br />Management Report, Page 29 <br />Improvement Bonds of 1986 <br />The Improvement Bonds of 1986 were issued to refinance the Improvement Bonds of 1982 <br />and to finance the Sunset Road Improvements. Final maturity of these bonds is scheduled for <br />February 1, 1997. <br />Temporary Improvement Bonds of 1987 <br />The City issued bonds to finance the following projects in 1987: <br />Bond Construction <br />Proceeds Costs <br />North Road $9,473 $8,527 <br />Deer Pass Trail 11,108 13,024 <br />Comprehensive Water Trunk 664,671 541,446 <br />Reshanau Lakes South 481,833 431,210 <br />Erickson's 381,422 358,252 <br />4th Avenue 84,942 719,869 <br />$1,633,449 $2,072,328 <br />North Road, Deer Pass Trail and 4th Avenue were assessed in 1987. Erickson's and <br />Reshanau Lakes South were assessed in 1988. The Comprehensive Water Trunk project will be <br />financed by area and connection charges. The 4th Avenue Project received additional funding from <br />the State of Minnesota, Anoka County and the Rice Creek Watershed District. <br />The Temporary Improvement Bonds of 1987 matured during 1990. Bond proceeds in the <br />amount of $809,138 from the Temporary Improvement Bonds of 1990B were used to retire the <br />1987 Bonds. The remaining assets of the Temporary Improvement Bonds of 1987 were <br />transferred to the Temporary Improvement Bonds of 1990B Debt Service Fund and are pledged for <br />the retirement of the 1990B debt. <br />Improvement Bonds of 1988 <br />The Improvement Bonds of 1988 were issued to provide permanent financing for the <br />Temporary Improvement Bonds of 1985 and to finance Ash Street and Main Street improvements. <br />The remaining assets in the Temporary Improvement Bonds of 1985 were transferred into the 1988 <br />Improvement Bonds Debt Service Fund in 1988. Final maturity of these bonds is scheduled for <br />February 1, 1997. <br />