Laserfiche WebLink
CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2019 <br /> <br /> <br /> <br /> <br />Percent of Debt service Remaining Principal Pledged <br />Use of Total as a % of Term of Principal and Interest Revenue <br />Bond Issue Proceeds Type Debt Service Net Revenues Pledge and Interest Paid Received <br />2016B Tax Abatement Mirror Lake improvements and Tax abatement revenue 100%N/A 2016 - 2026 680,050 98,550 103,449 <br />pedestrian safety improvements <br />2017A Road Improvements 2017 road reconstruction Special assessments 17%N/A 2017 - 2033 2,999,275 220,825 231,725 <br />Property tax levy 83% <br />2017A Equipment Certificate 2017 Equipment note Tax abatement revenue 100%N/A 2017 - 2033 528,500 64,850 276,363 <br />2014C Road Improvements Refunding of 2008A Property tax levy 100%N/A 2014 - 2024 807,113 160,025 149,527 <br />Silver Lake Road improvements <br />2015B TIF Refunding 2006B TIF Bonds TIF 100%N/A 2015-2031 3,986,931 317,362 710,009 <br />2014B TIF Refunding 2007 TIF Bonds TIF 100%N/A 2015 -2031 3,397,438 276,625 605,030 <br />2013A G.O. Water/Sewer Refunding 2003B G.O. Charges for services 100%33% 2013-2024 751,650 145,600 2,296,715 <br />Revenue Water/Sewer Revenue Bonds <br />2011B Road Improvements Refunding 2004A and 2005A Special assessments 13%N/A 2012 - 2020 406,435 274,590 113,581 <br />Refunding Street Improvement Bonds Property tax levy 87% <br />Revenue Pledged Current Year <br /> <br /> <br />Note 7 DEFINED BENEFIT PENSION <br /> <br />A. COST-SHARING MULTIPLE-EMPLOYER PENSION PLANS <br /> <br />PLAN DESCRIPTION <br /> <br />The City participates in the following cost-sharing multiple-employer defined benefit pension plans <br />administered by the Public Employees Retirement Association of Minnesota (PERA). PERA’s <br />defined benefit pension plans are established and administered in accordance with Minnesota Statutes, <br />Chapters 353 and 356. PERA’s defined benefit pension plans are tax qualified plans under Section <br />401(a) of the Internal Revenue Code. <br /> <br /> 1. General Employees Retirement Fund (GERF) <br /> <br />All full-time (with the exception of employees covered by PEPFF) and certain part-time <br />employees are covered by the General Employees Retirement Fund (GERF). GERF members <br />belong to the Coordinated Plan. Coordinated Plan members are covered by Social Security. <br /> <br /> 2. Public Employees Police and Fire Fund (PEPFF) <br /> <br />The PEPFF, originally established for police officers and firefighters not covered by a local relief <br />association, now covers all police officers and firefighters hired since 1980. Effective July 1, <br />1999, the PEPFF also covers police officers and firefighters belonging to a local relief association <br />that elected to merge with and transfer assets and administration to PERA. <br /> <br />65