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CITY OF LAKE ELMO, MINNESOTA
<br />NOTES TO THE BASIC FINANCIAL STATEMENTS
<br />DECEMBER 31, 2024
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<br />NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued)
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<br />2.D. NONCURRENT LIABILITIES (Continued)
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<br />As of December 31, 2024, the long-term debt of the financial reporting entity, excluding compensated absences payable and
<br />the net pension and OPEB liabilities, consists of the following:
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<br />Original Interest Final Maturity Balance
<br />Issue Amount Rates Date Outstanding
<br />Governmental Activities
<br />General Obligation Improvement Bonds:
<br />GO Refunding Bonds, Series 2010B 1,970,000$ 1.00 - 3.20%2025 190,000$
<br />GO Improvement Bonds, Series 2014A 2,850,000 2.00 - 3.50%2030 930,000
<br />GO Improvement Bonds, Series 2015A 1,620,000 2.00 - 3.00%2026 325,000
<br />GO Improvement Bonds, Series 2016A 2,690,000 2.00 - 2.00%2027 855,000
<br />GO Improvement Bonds, Series 2017A 4,565,000 2.50 - 2.50%2028 1,940,000
<br />GO Improvement Bonds, Series 2019A 2,860,000 2.00 - 3.00%2035 1,795,000
<br />GO Improvement Bonds, Series 2021A 15,675,000 1.75 - 3.00%2042 14,195,000
<br />GO Improvement Bonds, Series 2022A 3,895,000 3.00 - 5.00%2038 3,700,000
<br />GO Improvement Bonds, Series 2023A 3,410,000 4.00 - 5.00%2034 3,410,000
<br />GO Improvement Bonds, Series 2024A 4,195,000 4.00 - 5.00%2039 4,195,000
<br />Total General Obligation Improvement Bonds 31,535,000
<br />General Obligation Equipment Certificates:
<br />GO Equipment Certificates, Series 2018A 940,000 2.70 - 2.70%2028 450,000
<br />General Obligation Tax Abatement Bonds:
<br />GO Tax Abatement Bonds, Series 2022A 1,010,000 3.00 - 5.00%2033 930,000
<br />Total Governmental Activities Debt 32,915,000$
<br />Business-Type Activities
<br />General Obligation Revenue Bonds:
<br />GO Refunding Bonds, Series 2012A 4,035,000$ 2.00 - 2.50%2030 1,940,000$
<br />GO Improvement Bonds, Series 2014A 3,385,000 2.00 - 3.50%2030 1,495,000
<br />GO Improvement Bonds, Series 2015A 1,195,000 2.00 - 3.00%2031 610,000
<br />GO Improvement Bonds, Series 2016A 6,855,000 2.00 - 2.00%2032 3,910,000
<br />GO Improvement Bonds, Series 2017A 4,480,000 2.50 - 3.00%2033 2,880,000
<br />GO Improvement Bonds, Series 2019A 1,195,000 2.00 - 3.00%2035 925,000
<br />GO Improvement Bonds, Series 2021A 6,310,000 1.75 - 3.00%2037 5,465,000
<br />GO Improvement Bonds, Series 2022A 7,590,000 3.00 - 5.00%2037 6,700,000
<br />GO Improvement Bonds, Series 2023A 2,000,000 4.00 - 5.00%2038 1,875,000
<br />GO Improvement Bonds, Series 2024A 470,000 4.00 - 5.00%2039 470,000
<br />Total Business-Type Activities - GO Bonds 26,270,000
<br />Subscription Liabilities:
<br />Sensus Analytics 92,653 8.50%2029 88,418
<br />Total Business-Type Activities Debt 26,358,418$
<br />Description
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