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CITY OF ST. ANTHONY ,
<br /> NOTES TO FINANCIAL STATEMENTS"
<br /> DECEMBER 31 , 1999 ,
<br /> Note 5. Property, Plant and Equipment, continued
<br /> Changes in general fixed assets for.the year ended December 31 , 1999 are:
<br /> Balance Balance
<br /> January 1 , December 31 ,
<br /> 1999 - Additions Deletions 1999
<br /> ------------ ------------ ------------ ------------
<br /> Land $69,600 $69,600
<br /> Buildings and Improvements 4,897,382 4,897,382
<br /> Furniture and Equipment 2,630,930 $264,242 $22,000 2,873,172 '
<br /> ------------ ------------ ------------ ------------
<br /> Totals $7,597,912 $264,242 $22,000 $7,840, 154
<br /> ------------ ------------ ------------ ------------
<br /> Note 6, Long-Term Debt
<br /> Bonds Payable
<br /> The City has four types of general obligation- bonds outstanding as of December 31 , '
<br /> 1998. They are improvement, refunding tax increment, tax increment and taxable tax
<br /> increment bonds. All of these bonds are reported as liabilities in the General Long-
<br /> Term .Debt Account Group. The improvement bonds are payable from special assessments
<br /> and general property tax levies. The refunding tax increment bonds were used to ,
<br /> refund tax increment bonds issued to finance redevelopment projects undertaken by the
<br /> Housing and Redevelopment Authority of St. Anthony (HRA). These bonds and the tax-
<br /> able tax increment bonds are payable from incremental property taxes derived from
<br /> the tax increment finance districts with any deficiency to be provided from general
<br /> property taxes. Rental income from the operation of the Community Center .and incre-
<br /> mental property taxes pledged from certain tax increment finance districts will be
<br /> utilized to retire the tax increment .bonds. r
<br /> The other type of bonds outstanding are liquor revenue bonds. The liability for
<br /> these bonds is recorded in the proprietary funds and are payable from liquor operations. '
<br /> A summary of bond transactions for the year ended December 31 ,- 1999 is as follows:
<br /> Payable Payable '
<br /> January 1 , Issued . Retired December 31 ,
<br /> ------------ ------------ ------------ ------------
<br /> General Obligation Bonds ,
<br /> Improvement $3,020,000 $425,000 $100,000 $3,345,000
<br /> Refunding Tax Increment 100,000 30,000 70,000
<br /> Tax Increment 2,245,000 145,000 2,100,000
<br /> Taxable Tax Increment 1 ,720,000 1 ,720,000
<br /> Liquor Revenue Bonds_ 895,000 50,000 845,000
<br /> ------------ ------------ ------------
<br /> $7,980.,000 $425,000 $325,000 $8,080,000 '
<br /> ------------ ------------ ------------ ------------
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