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<br />
<br />City of St. Anthony, Minnesota’s Capital Assets
<br />
<br />Governmental Activities Business-Type Activities Totals
<br />2020 2019 2020 2019 2020 2019
<br />Land $1,662,883 $1,662,883 $2,089,954 $2,089,954 $3,752,837 $3,752,837
<br />Permanent easements 73,984 73,984 - - 73,984 -
<br />Land improvements 587,187 587,187 1,038,687 1,038,687 1,625,874 1,625,874
<br />Buildings and structures 10,258,074 10,133,864 8,482,703 8,467,897 18,740,777 18,601,761
<br />Furniture and fixtures 4,798,664 4,576,847 4,860,982 4,853,924 9,659,646 9,430,771
<br />Software intangibles 56,823 23,303 26,022 26,022 82,845 49,325
<br />Infrastructure/streets 41,336,141 41,336,141 17,043,752 17,043,752 58,379,893 58,379,893
<br />Storm sewers 428,469 428,469 - - 428,469 428,469
<br />Storm water - - 2,253,147 2,253,147 2,25 3,147 2,253,147
<br />Less accumulated depreciation (28,449,148) (26,400,210) (11,495,579) (10,514,273) (39,944,727) (36,914,483)
<br />Construction in progress 3,132,590 740,266 15,498 - 3,148,088 740,266
<br />Total $33,885,667 $33,162,734 $24,315,166 $25,259,110 $58,200,833 $58,347,860
<br />Additional information on the City’s capital assets can be found in Note 5.
<br />
<br />Long-term debt. At the end of the current fiscal year, the City had total bonded debt
<br />outstanding of $29,135,000. Of this amount, $21,255,000 comprises debt backed by special
<br />assessments and the full faith and credit of the City, $6,240,000 is backed by tax increments,
<br />$1,505,000 is backed by lease revenue sources, and $580,000 is backed by revenues sources
<br />from the City’s water/sewer funds. In addition, the City’s debt represents the liability for
<br />compensated absences $878,114, net pension liability of $5,167,046, and OPEB liability of
<br />$614,487.
<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 />2020 2019 2020 2019 2020 2019
<br />General obligation bonds $21,255,000 $20,365,000 $ - $ - $21,255,000 $20,365,000
<br />G.O. revenue bonds 1,505,000 1,850,000 580,000 715,000 2,085,000 2,565,000
<br />G.O. tax increment bonds 5,795,000 6,240,000 - - 5,795,000 6,240,000
<br />Issuance premiums (discounts) 934,554 894,108 13,900 18,408 948,454 912,516
<br />Total $29,489,554 $29,349,108 $593,900 $733,408 30,083,454 $30,082,516
<br />The City’s total bonded debt increased by $100,000 during the current fiscal year. The key
<br />factors in this decrease were: 1) principal retirement of $2,900,000 and 2) the issuance of
<br />$3,000,000 of 2020A General Obligation Bonds.
<br />
<br />The City maintains an “AA” rating from Standard and Poor’s for general obligation debt. State
<br />statutes limit the amount of general obligation debt the City may issue to 3% of its total market
<br />value. The current debt limitation for the City is $32,845,230, which is in excess of the City’s
<br />applicable debt. Additional information on the City’s long-term debt can be found in Note 6.
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