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<br />
<br /> The 2016 street reconstruction and infrastructure improvement was completed in 2017 along
<br />with the expansion of the water treatment plant facility.
<br />
<br />City of St. Anthony, Minnesota’s Capital Assets
<br />
<br />Governmental Activities Business-Type Activities Totals
<br />2017 2016 2017 2016 2017 2016
<br />Land $1,662,883 $1,662,883 $2,089,954 $2,089,954 $3,752,837 $3,752,837
<br />Land improvement 555,181 555,181 - - 555,181 555,181
<br />Buildings and structures 10,105,047 10,002,287 8,372,645 4,118,781 18,477,692 14,121,068
<br />Furniture and fixtures 4,255,778 4,156,947 4,547,552 1,563,898 8,803,330 5,720,845
<br />Software intangibles 6,823 6,823 26,022 26,022 32,845 32,845
<br />Infrastructure/streets 36,041,107 35,167,341 13,763,523 13,000,946 49,804,630 48,168,287
<br />Storm sewers 428,469 428,469 - - 428,469 428,469
<br />Storm water - - 2,253,147 2,253,147 2,253,147 2,253,147
<br />Less accumulated depreciation (22,702,055) (20,798,119) (8,703,724) (8,073,528) (31,405,779) (28,871,647)
<br />Construction in progress 4,850,632 4,274,263 835,045 238,919 5,685,677 4,513,182
<br />Total $35,203,865 $35,456,075 $23,184,164 $15,218,139 $58,388,029 $50,674,214
<br />Additional information on the City of St. Anthony, Minnesota’s capital assets can be found in
<br />Note 5.
<br />
<br />Long-term debt. At the end of the current fiscal year, the City of St. Anthony, Minnesota had
<br />total bonded debt outstanding of $32,145,000. Of this amount, $21,595,000 comprises debt
<br />backed by special assessments and the full faith and credit of the City, $7,065,000 is backed by
<br />tax increments, $2,510,000 is backed by lease revenue sources, and $975,000 is backed by
<br />revenues sources from the City of St. Anthony, Minnesota’s water/sewer funds. In addition, the
<br />City of St. Anthony, Minnesota’s debt represents the liability for compensated absences
<br />$841,856, net pension liability of $5,735,585, and OPEB liability of $722,331.
<br />
<br />City of St. Anthony, Minnesota’s Outstanding Debt
<br />General Obligation and Revenue Bonds
<br />
<br />Governmental Activities Business-Type Activities Totals
<br />2017 2016 2017 2016 2017 2016
<br />General obligation bonds $21,595,000 $24,225,000 $ - $ - $21,595,000 $24,225,000
<br />G.O. revenue bonds 2,510,000 - 975,000 1,100,000 3,485,000 1,100,000
<br />G.O. tax increment bonds 7,065,000 7,450,000 - - 7,065,000 7,450,000
<br />Issuance premiums (discounts) 793,291 620,404 27,424 31,932 820,715 652,336
<br />Total $31,963,291 $32,295,404 $1,002,424 $1,131,932 $32,965,715 $33,427,336
<br />The City of St. Anthony’s total bonded debt decreased by $630,000 (1.92%) during the current
<br />fiscal year. The key factors in this decrease were: 1) principal retirement of $5,940,000; 2)
<br />refunding of the 2009A bonds with issuance of $1,355,000 of Series 2017A G.O. Refunding
<br />Bonds; 3) the issuance of $520,000 in 2017A G.O. Equipment Certificates; 4) the issuance of
<br />$2,600,000 of 2017A G.O. Improvement Bonds; 5) the issuance of $835,000 in 2017A G.O. Tax
<br />Abatement Refunding Bonds.
<br />
<br />The City of St. Anthony, Minnesota maintains an “AA” rating from Standard and Poor’s for
<br />general obligation debt. State statutes limit the amount of general obligation debt the City may
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