Management Report and Recommendations 12/31/1989

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City of Lino Lakes, Minnesota Management Report, Page 26 Improvement Bonds of 1982 The Improvement Bonds of 1982 were refmanced by the Improvement Bonds of 1986. Bonds maturing in the years 1989 through 1991 representing $375,000, were called on February 1, 1987. The remaining assets of this fund were transferred to the Improvement Bonds of 1986 in 1989. Improvement Bonds of 1986 The Improvement Bonds of 1986 were issued to refinance the Improvement Bonds of 1982 and to finance the Sunset Road Improvements. Final maturity of these bonds is scheduled for February 1, 1997. Temporary Improvement Bonds of 1987 The City issued bonds to finance the following projects in 1987: Band Construction Proceeds Costs North Road $9,473 $8,527 Deer Pass Trail 11,108 13,024 Comprehensive Water Trunk 664,671 541,446 Reshanau Lakes South 481,833 413,577 Dickson's 381,422 337,725 4th Avenue 84,942 719.869 $1,633,449 $2,034,168 North Road, Deer Pass Trail and 4th Avenue were assessed in 1987. Erickson's and Reshanau Lakes South were assessed in 1988. The Comprehensive Water Trunk project will be financed by area and connection charges. Improvement Bonds of 1988 The Improvement Bonds of 1988 were issued to provide permanent financing for the Temporary Improvement Bonds of 1985 and to finance Ash Street and Main Street improvements. The remaining assets in the Temporary Improvement Bonds of 1985 were transferred into the 1988 Improvement Bonds Debt Service Fund in 1988. Final maturity of these bonds is scheduled for February 1, 1997.