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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1999
<br />Note 4 CITY INDEBTEDNESS (CONTINUED)
<br />City indebtedness at December 31, 1999 is composed of the following:
<br />Final
<br />Issue Maturity Interest Original
<br />Date Date Rate Issue
<br />Payable
<br />12/31/99
<br />General Obligation Bonds:
<br />1997 Equipment Certificates 2/1/97 12/31/00 6.00% 225,000 75,000
<br />1998 Equipment Certificates 2/1/98 12/31/01 6.00% 287,734 192,000
<br />Mow
<br />1999 Equipment Certificates 2/1/99 12/31/02 6.00% 307,570 307,570
<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% 980,000 980,000
<br />Total General Obligation Bonds
<br />7,150,304 6,904,570
<br />Special Assessment Bonds:
<br />G.O. Improvement Refunding Bonds, 4/1/92 2/1/06 4.00%-6.70% 3,640,000 2,250,000
<br />Series 1992A
<br />G.O. Improvement Refunding Bonds, 10/1/96 2/1/07 4.20 %5.20% 4,685,000 3,760,000
<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 1998A
<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
<br />16,360,000 14,045,000
<br />Revenue Bonds:
<br />G.O. Water Revenue Bonds, 4/1/92 2/1/08 4.50 %6.80% 1,060,000 785,000
<br />— Series 1992B
<br />G.O. Water Revenue Bonds, 10/1/96 2/1/12 4.10%-5.70% 3,320,000 3,085,000
<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 5,060,000 4,550,000
<br />Total - All Bonds 28,570,304 25,499,570
<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% 600,000 600,000
<br />Total Contracts for Deed 1,459,352 1,459,352
<br />— Compensated Absences Payable N/A 274,399
<br />Total Indebtedness $ 30,029,656 $ 27,233,321
<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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