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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2009
<br />Note 4 CITY INDEBTEDNESS
<br />City indebtedness at December 31, 2009 is composed of the following:
<br />Final
<br />Issue Maturity Interest Original
<br />Date Date Rate Issue
<br />Payable
<br />12/31/2009
<br />Governmental Activities:
<br />General Obligation Bonds:
<br />2007A Equipment Certificates 2/1/2007 12/31/2010 4.00% $ 160,000 $ 55,000
<br />2008A Equipment Certificates 2/1/2008 12/31/2011 4.00% 209,000 146,000
<br />2009A Equipment Certificates 4/1/2009 12/31/2012 3.00% 336,000 336,000
<br />Civic Complex Lease Rev. Bonds, Series I998A 8/1/1998 2/1/2019 4.20 % -5.35% 5,350,000 115,000
<br />Public Project Revenue Ref. Bonds, Series 1999C 9/1/1999 2/1/2010 4.75 % -5.10% 980,000 90,000
<br />G.O. Tax Abatement Bonds, Series 2006C 8/15/2006 2/1/2023 4.00 % -4.30% 2,460,000 2,460,000
<br />G.O. Utility Revenue Bonds, Series 2006D 8/15/2006 2/1/2017 4.00% -4.15% 570,000 470,000
<br />G.O. CIP Refunding Bonds, Series 2006E 11/1/2006 2/1/2018 4.00% 2,990,000 2,990,000
<br />G.O. Tax Increment Financing Bonds, Series 2007A 7/15/2007 2/1/2024 4.00 % - 4.125% 4,215,000 4,050,000
<br />Total General Obligation Bonds 17,270,000 10,712,000
<br />Special Assessment Bonds:
<br />G.O. Improvement Bonds, Series 2002A 8/1/2002 2/1/2013 3.00 % -4.10% 645,000 110,000
<br />G.O. Improvement Bonds, Series 2002B 8/1/2002 2/1/2013 3.20 % - 5.55% 2,110,000 975,000
<br />G.O. Improvement Refunding Bonds, Series 2003A 12/1/2003 2/1/2019 2.00%-4.25% 2,090,000 660,000
<br />G.O. Improvement Bonds, Series 2003B 12/1/2003 2/1/2014 3.20 % -5.60% 250,000 150,000
<br />G.O. Improvement and Utility Bonds, Series 2004A 11/15/2004 2/1/2020 1.90% -4.45% 1,330,000 1,040,000
<br />G.O. Improvement Bonds, Series 2005A 11/1/2005 2/1/2021 4.35% -5.15% 5,550,000 4,795,000
<br />G.O. Improvement Refunding Bonds, Series 2005B 11/1/2005 2/1/2015 3.75 % -5.00% 3,755,000 2,535,000
<br />Total Special Assessment Bonds 15,730,000 10,265,000
<br />Total Bonds 33,000,000 20,977,000
<br />Note Payable - Anoka County 8/1/2009 8/1/2024 4.00 % -3.70% 4,260,000 4,260,000
<br />Unamortized Bond Discounts (45,490) (36,560)
<br />Unamortized Bond Premiums 180,247 111,186
<br />Compensated Absences Payable N/A 627,884
<br />Other Post Employment Benefit Plan N/A 44,734
<br />Total Governmental Activities $ 37,394,757 $ 25,984,244
<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 $ 1,170,000
<br />Total Revenue Bonds 1,740,000 1,170,000
<br />Unamortized Bond Discounts (4,002) (1,588)
<br />Compensated Absences Payable N/A 35,820
<br />Total Business -Type Activities $ 1,735,998 $ 1,204,232
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