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HOUSING AND REDEVELOPMENT AUTHORITY OF ST. ANTHONY
<br /> NOTES TO FINANCIAL STATEMENTS
<br /> DECEMBER 31 , 1999
<br /> Note 4. Bonds Payable, continued
<br /> rScheduled maturities of bonded indebtedness and interest for years subsequent to
<br /> December 31 , 1999 are as follows:
<br />' Year(s) Principal Interest Total
<br /> 2000 $260,000 $227,178 $487,178
<br />' 2001 270,000 213,795 483,795
<br /> 2002 250,000 200,256 450,256
<br /> 2003 260,000 186,500 446,500
<br /> 1 2004 280,000 171 ,597 451 ,597
<br /> 2005-2009 1 ,650,000 590,108 2,240,108
<br /> 2010-2013 920,000 119,843 1 ,039.,843
<br /> Totals $3,890,000 $1 ,709,277 $5,599,277
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<br /> 1 Note 5. Fund Equity
<br /> Investment in General Fixed Assets - The equity of the Authority in its general
<br /> fixed assets is reflected in this amount.
<br /> Reserved Fund Balances - These amounts represent portions of the fund balances
<br /> available for specified purposes. Reserved fund balances are:
<br /> General Fund - Authority Activities $17,960
<br /> Debt Service Funds - Debt Service Retirement 1 ,124,094
<br /> Capital Project Funds - Redevelopment Projects 1 ,742,268
<br />' -$2,884,322-
<br /> Note 6. Community Center Complex
<br /> During 1995, the Housing and Redevelopment Authority and the City of St. Anthony
<br />' jointly entered into a construction contract for the construction of a community
<br /> center complex, including a city hall , recreational and educational facilities.
<br /> Proceeds from general obligation tax increment bonds were used to finance costs
<br />' associated with the recreational and educational portion of the complex. City
<br /> funds transferred to the Authority were used to finance the city hall portion
<br /> of the project costs. The community center complex was completed in 1988 with
<br /> cost totaling approximately $4,225,200.
<br /> A portion of the Community Center is occupied by Independent School District #282,
<br /> which houses its community services program in this facility. Under terms of a
<br />' lease agreement between the City and the District, the District has agreed to make
<br /> rental payments totaling $100,000 per each. It is anticipated the District will
<br /> continue to lease this space for a twenty year period.
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