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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2001
<br />Note 4 CITY INDEBTEDNESS (CONTINUED)
<br />City indebtedness at December 31, 2001 is composed of the following:
<br />Final
<br />Issue Maturity Interest Original
<br />Date Date Rate Issue
<br />Payable
<br />12/31/2001
<br />_. General Obligation Bonds:
<br />1999 Equipment Certificates 2/1/1999 12/31/2002 6.00% 307,570 102,500
<br />2000 Equipment Certificates 2/1/2000 12/31/2003 6.00% 325,450 216,900
<br />2001 Equipment Certificates 2/1/2001 12/31/2003 6.00% 332,030 332,030
<br />'.... Civic Complex Lease Rev. Bonds - 98A 8/1/1998 2/1/2019 4.20 % -5.35% 5,350,000 5,185,000
<br />Public Project Revenue Ref. Bonds - 99C 9/1/1999 2/1/2010 4.75 % -5.10% 980,000 850,000
<br />Total General Obligation Bonds
<br />7,295,050 6,686,430
<br />Special Assessment Bonds:
<br />G.O. Improvement Refunding Bonds, 10/1/1996 2/1/2007 4.20 % -5.20% 4,685,000 2,565,000
<br />Series 1996A
<br />G.O. Improvement Refunding Bonds, 8/1/1998 2/1/2015 4.50 % -4.90% 4,310,000 4,020,000
<br />Serie 1998A
<br />G.O. Improvement Refunding Bonds, 8/1/1998 2/1/2015 4.50 % -4.90% 2,000,000 1,885,000
<br />..... Series 1998B
<br />G.O. Improvement Refunding Bonds, 9/1/1999 2/1/2006 4.25 % -4.70% 1,725,000 1,725,000
<br />Series 1999A
<br />IMMO
<br />MIMS
<br />Total Special Assessment Bonds
<br />12,720,000 10,195,000
<br />Revenue Bonds:
<br />G.O. Water Revenue Bonds, 10/1/1996 2/1/2012 4.10 % -5.70% 3,320,000 2,785,000
<br />Series 1996B
<br />G.O. Water Revenue Bonds, 9/1/1999 2/1/2008 4.25% -4.90% 680,000 680,000
<br />Series 1999B
<br />Total Revenue Bonds 4,000,000 3,465,000
<br />Total - All Bonds 24,015,050 20,346,430
<br />Contract for Deed Payable 4/30/1997 2/1/2002 8.00% 511,714 511,714
<br />Contract for Deed Payable 12/1/1997 12/1/2002 8.00% 347,638 347,638
<br />Contract for Deed Payable 12/21/1999 12/1/2002 6.00% 600,000 100,000
<br />Total Contracts for Deed 1,459,352 959,352
<br />Compensated Absences Payable N/A 373,854
<br />Total Indebtedness $ 25,474,402 $ 21,679,636
<br />Description and Restrictions of Long -Term Debt
<br />General Obligation Bonds — The bonds were issued for improvements or projects which benefited the City as a
<br />whole and are, therefore, repaid from ad valorem levies.
<br />Special Assessment Bonds — These bonds were issued to finance various improvements and will be repaid
<br />primarily from special assessments levied on the properties benefiting from the improvements. However, some
<br />issues are partly financed by ad valorem levies.
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