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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 />Annual Debt Service Requirements
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<br />At December 31, 2024, the estimated annual debt service requirements to maturity, i ncluding principal and interest and
<br />excluding compensated absences payable and net pension and OPEB liabilities, are as follows:
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<br />Years Ending
<br />December 31, Principal Interest Total Principal Interest Total
<br />2025 2,770,000$ 937,681$ 3,707,681$ 110,000$ 10,665$ 120,665$
<br />2026 2,990,000 854,829 3,844,829 110,000 7,695 117,695
<br />2027 2,920,000 754,775 3,674,775 115,000 4,658 119,658
<br />2028 2,700,000 656,328 3,356,328 115,000 1,552 116,552
<br />2029 2,295,000 565,256 2,860,256 - - -
<br />2030-2034 10,505,000 1,688,256 12,193,256 - - -
<br />2035-2039 5,520,000 449,101 5,969,101 - - -
<br />2040-2042 1,835,000 59,022 1,894,022 - - -
<br />Totals 31,535,000$ 5,965,248$ 37,500,248$ 450,000$ 24,570$ 474,570$
<br />Governmental Activities
<br />G.O. Improvement Bonds G.O. Equipment Certificates
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<br />Years Ending
<br />December 31, Principal Interest Total Principal Interest Total
<br />2025 85,000$ 39,575$ 124,575$ 2,385,000$ 758,194$ 3,143,194$
<br />2026 90,000 35,200 125,200 2,435,000 685,708 3,120,708
<br />2027 95,000 30,575 125,575 2,505,000 610,114 3,115,114
<br />2028 95,000 25,825 120,825 2,590,000 531,226 3,121,226
<br />2029 100,000 20,950 120,950 2,640,000 449,875 3,089,875
<br />2030-2034 465,000 32,975 497,975 10,010,000 1,176,096 11,186,096
<br />2035-2039 - - - 3,705,000 194,952 3,899,952
<br />Totals 930,000$ 185,100$ 1,115,100$ 26,270,000$ 4,406,165$ 30,676,165$
<br />G.O. Tax Abatement Bonds G.O. Revenue Bonds
<br />Business-Type ActivitiesGovernmental Activities
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<br />Years Ending
<br />December 31, Principal Interest Total
<br />2025 39,872$ 4,853$ 44,725$
<br />2026 14,301 3,520 17,821
<br />2027 16,123 2,233 18,356
<br />2028 18,122 784 18,906
<br />Totals 88,418$ 11,390$ 99,808$
<br />Business-Type Activities
<br />Subscription Liabilities
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