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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2011
<br />Note 4 CITY INDEBTEDNESS
<br />City indebtedness at December 31, 2011 is composed of the following:
<br />Final
<br />Issue Maturity Interest Original
<br />Date Date Rate Issue
<br />Payable
<br />12/31/2011
<br />Governmental Activities:
<br />General Obligation Bonds:
<br />2008A Equipment Certificates 2/1/2008 12/31/2011 4.00% $ 209,000 $ -
<br />2009A Equipment Certificates 4/1/2009 12/31/2012 3.00% 336,000 118,000
<br />2010A Equipment Certificates 4/1/2010 12/31/2013 2.00 % - 3.00% 170,000 118,000
<br />2011A Equipment Certificates 2/14/11 12/31/2014 1.00% 120,000 120,000
<br />G.O. Tax Abatement Bonds, Series 2006C 8/15/2006 2/1/2023 4.00%-4.30% 2,460,000 2,430,000
<br />G.O. Utility Revenue Bonds, Series 2006D 8/15/2006 2/1/2017 4.00 % -4.15% 570,000 370,000
<br />G.O. CIP Refunding Bonds, Series 2006E 11/1/2006 2/1/2018 4.00% 2,990,000 2,605,000
<br />G.O. Tax Increment Financing Bonds, Series 2007A 7/15/2007 2/1/2024 4.00%-4.125% 4,215,000 3,660,000
<br />Total General Obligation Bonds 11,070,000 9,421,000
<br />Special Assessment Bonds:
<br />G.O. Improvement Bonds, Series 2002A 8/1/2002 2/1/2013 3.00 % - 4.10% 645,000 60,000
<br />G.O. Improvement Bonds, Series 2002B 8/1/2002 2/1/2013 3.20% -5.55% 2,110,000 515,000
<br />G.O. Improvement Refunding Bonds, Series 2003A 12/1/2003 2/1/2019 2.00%-4.25% 2,090,000 545,000
<br />G.O. Improvement Bonds, Series 2003B 12/1/2003 2/1/2014 3.20% -5.60% 250,000 95,000
<br />G.O. Improvement Bonds, Series 2005A 11/1/2005 2/1/2021 4.35% -5.15% 5,550,000 4,180,000
<br />G.O. Improvement Refunding Bonds, Series 2005B 11/1/2005 2/1/2015 3.75% -5.00% 3,755,000 1,690,000
<br />G.O. Improvement & Utility Revenue Refunding Bonds, Series
<br />2010A 7/9/2010 2/1/2020 2.00% -3.00% 1,000,000 900,000
<br />Total Special Assessment Bonds 15,400,000 7,985,000
<br />Total Bonds 26,470,000 17,406,000
<br />Note Payable - Anoka County - 2009A 8/1/2009 8/1/2024 4.00% -3.70% 4,260,000 3,695,000
<br />Unamortized Bond Discounts (45,490) (27,621)
<br />Unamortized Bond Premiums 202,370 89,014
<br />Compensated Absences Payable N/A 610,655
<br />Other Post Employment Benefit Plan N/A 72,808
<br />Total Governmental Activities $ 30,886,880 $ 21,845,856
<br />Business -Type Activities:
<br />Revenue Bonds:
<br />G.O. Water Revenue Refunding Bonds, Series 2006F 11/1/2006 2/1/2012 3.55%-3.625% $ 1,740,000 $ 405,000
<br />Unamortized Bond Discounts (4,002) (64)
<br />Compensated Absences Payable N/A 45,398
<br />Total Business -Type Activities $ 1,735,998 $ 450,334
<br />47
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