|
CITY OF ST. ANTHONY
<br /> BOOK ENTRY SYSTEM ENTERPRISE FUNDS
<br /> COMBINING STATEMENT OF OPERATIONS AND CHANGES IN RETAINED EARNINGS
<br /> The Bonds will be issued by means of a book entry system with no physical distribution of FOR THE YEARS ENDED DECEMBER 31, 2000 AND 1999
<br /> Bonds made to the public. The Bonds will be issued in fully registered form and one Bond, Totals
<br /> representing the aggregate principal amount of the Bonds maturing in each year, will be Liquor Utility -
<br /> registered in the name of Cede & Co. as nominee of The Depository Trust Company ("DTC"), Fund Fund 2000 1999
<br /> New York, New York, which will act as securities depository of the Bonds. Individual purchases Operating Revenues
<br /> of the Bonds may be made in the principal amount of $5,000 or any multiple thereof of a single Sales and Cost of Sales
<br /> maturity through book entries made on the books and records of DTC and its participants. Sales $4,742,093 $4,742,093 $4,662,867
<br /> Principal and interest are payable by the registrar to DTC or its nominee as registered owner of Cost of Sales 3,432,132 3,432,132 3,417,747
<br /> the Bonds. Transfer of principal and interest payments to participants of DTC will be the
<br /> responsibility of DTC; transfer of principal and interest payments to beneficial owners by Gross Profit 1,309,961 1,309,961 1,245,120
<br /> participants will be the responsibility of such participants and other nominees of beneficial Charges for Services $1,119,767 1,119,767 1,123,893
<br /> owners. The purchaser, as a condition of delivery of the Bonds, will be required to deposit the _
<br /> Bonds with DTC. Total Operating Revenues 1,309,961 1,119,767 2,429,728 r 2,369,013
<br /> REGISTRAR
<br /> The City will name the registrar which shall be subject to applicable SEC regulations. The City Operating Expenses
<br /> Personal Services 593,932 336,033 929,965 841,031
<br /> will pay for the services of the registrar. Supplies 42,933 28,154 71,087 62,738
<br /> OPTIONAL REDEMPTION Contracted Services 253,016 226,502 479,518 496,802
<br /> Filtration and Other Charges 92,153 92,153 76,800
<br /> The City may elect on February 1, 2010, and on any day thereafter, to prepay Bonds due on or Treatment Charges 378,624 378,624 433,037
<br /> after February 1, 2011. Redemption may be in whole or in part and if in part at the option of the Depreciation 86,026 94,329 180,355 188,825
<br /> City and in such manner as the City shall determine. If less than all Bonds of a maturity are Other Charges 120,263 120,263 106,141_ _
<br /> _
<br /> called for redemption, the City will notify DTC of the particular amount of such maturity to be --
<br /> Total Operating Expenses 1,096,170 1,155,795 2,251,965 2,205,374
<br /> prepaid. DTC will determine by lot the amount of each participants interest in such maturity to
<br /> be redeemed and each participant will then select by lot the beneficial ownership interests in Operating Income (Loss) Y 213,791 (36,028) 177,763 163,639
<br /> such maturity to be redeemed. All prepayments shall be at a price of par plus accrued interest. _
<br /> SECURITY AND PURPOSE Nonoperating Revenues (Expenses)
<br /> Reimbursements 126,938 126,938 177,975
<br /> The Bonds will be general obligations of the City for which the City will pledge its full faith and Commissions, Rental and Other 47,211 18,993 66,204 61,201
<br /> credit and power to levy direct general ad valorem taxes. In addition the City will pledge special Investment Income 8,287 689,968 698,255 (48,746)
<br /> assessments against benefited properties. The proceeds will be used to finance street Interest and Amortization (51,467) (51,467) (52,529)
<br /> improvements within the City.
<br /> Loss on Disposal of Equipment (1,717)
<br /> TYPE OF PROPOSALS Total Nonoperating Revenues M 4,031 W 835,899 839,930 136,184
<br /> Proposals shall be for not less than $1,483,500 and accrued interest on the total principal
<br /> amount of the Bonds. Proposals shall be accompanied by a Good Faith Deposit ("Deposit") in Income Before Transfers 217,822 799,871 1,017,693 299,823
<br /> the form of a certified or cashier's check or a Financial Surety Bond in the amount of $15,000,
<br /> payable to the order of the City. If a check is used, it must accompany the proposal. If a Transfers to Other Funds (140,000) (140,000) (65,000)
<br /> Financial Surety Bond is used, it must be from an insurance company licensed to issue such a
<br /> bond in the State of Minnesota, and preapproved by the City. Such bond must be submitted to Net Income (Loss) After Transfers 77,822 799,871 877,693 M 234,823
<br /> Springsted Incorporated prior to the opening of the proposals. The Financial Surety Bond must
<br /> identify each underwriter whose Deposit is guaranteed by such Financial Surety Bond. If the Retained Earnings Beginning of Year 1,056,911 6,128,336 7,185,247 6,884,750
<br /> Bonds are awarded to an underwriter using a Financial Surety Bond, then that purchaser is
<br /> required to submit its Deposit to Springsted Incorporated in the form of a certified or cashier's Redistribution of Depreciation
<br /> check or wire transfer as instructed by Springsted Incorporated not later than 3:30 P.M., Central to Contributed Capital 61,569 61,569 65,674
<br /> Time, on the next business day following the award. If such Deposit is not received by that
<br /> time, the Financial Surety Bond may be drawn by the City to satisfy the Deposit requirement. Retained Earnings End of Year $1,134,733 $6,989,776 $8,124,509
<br /> $7,185,247
<br /> The City will deposit the check of the purchaser, the amount of which will be deducted at
<br /> settlement and no interest will accrue to the purchaser. In the event the purchaser fails to ----------- ---------- ----- '°-°-"---�
<br /> comply with the accepted proposal, said amount will be retained by the City. No proposal can
<br /> - ii - IV-11
<br />
|