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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2000
<br />Note 4 CITY INDEBTEDNESS (CONTINUED)
<br />City indebtedness at December 31, 2000 is composed of the following:
<br />Final
<br />Issue Maturity Interest Original
<br />Date Date Rate Issue
<br />Payable
<br />12/31/00
<br />General Obligation Bonds:
<br />1998 Equipment Certificates 2/1/98 12/31/01 6.00% 287,734 96,000
<br />1999 Equipment Certificates 2/1/99 12/31/02 6.00% 307,570 205,000
<br />2000 Equipment Certificates 2/1/00 12/31/03 6.00% 325,450 325,450
<br />Civic Complex Lease Rev. Bonds - 98A 8/1/98 2/1/19 4.20 % -5.35% 5,350,000 5,350,000
<br />Public Project Revenue Ref. Bonds - 99C 9/1/99 2/1/10 4.75 % -5.10% 980,000 935,000
<br />Total General Obligation Bonds
<br />7,250,754 6,911,450
<br />Special Assessment Bonds:
<br />G.O. Improvement Refunding Bonds, 4/1/92 2/1/06 4.00 % -6.70% 3,640,000 1,970,000
<br />'... Series 1992A
<br />G.O. Improvement Refunding Bonds, 10/1/96 2/1/07 4.20 % -5.20% 4,685,000 3,160,000
<br />Series 1996A
<br />G.O. Improvement Refunding Bonds, 8/1/98 2/1/15 4.50 % -4.90% 4,310,000 4,310,000
<br />Serie I998A
<br />G.O. Improvement Refunding Bonds, 8/1/98 2/1/15 4.50 % -4.90% 2,000,000 2,000,000
<br />Series 1998B
<br />-- G.O. Improvement Refunding Bonds, 9/1/99 2/1/06 4.25 % -4.70% 1,725,000 1,725,000
<br />Series 1999A
<br />Total Special Assessment Bonds 16,360,000 13,165,000
<br />Revenue Bonds:
<br />G.O. Water Revenue Bonds, 4/1/92 2/1/08 4.50 % -6.80% 1,060,000 720,000
<br />Series 1992B
<br />G.O. Water Revenue Bonds, 10/1/96 2/1/12 4.10 % -5.70% 3,320,000 2,940,000
<br />Series 1996B
<br />G.O. Water Revenue Bonds, 9/1/99 2/1/08 4.25 % -4.90% 680,000 680,000
<br />Series 1999B
<br />Total Revenue Bonds
<br />Total - All Bonds
<br />5,060,000 4,340,000
<br />28,670,754 24,416,450
<br />Contract for Deed Payable 4/30/97 2/1/02 8.00% 511,714 511,714
<br />Contract for Deed Payable 12/1/97 12/1/02 8.00% 347,638 347,638
<br />Contract for Deed Payable 12/21/99 12/1/02 6.00% 600,000 350,000
<br />Total Contracts for Deed 1,459,352 1,209,352
<br />Compensated Absences Payable N/A 354,874
<br />Total Indebtedness $ 30,130,106 $ 25,980,676
<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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