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CITY OF ELK RIVER, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />DECEMBER 31, 2009
<br />Note 3: DETAILED NOTES ON ALL FUNDS -CONTINUED
<br />The future minimum lease obligations and the net present value of these minimum lease payments as of December 31,
<br />2009, were as follows:
<br />Governmental
<br />Year Ending Dec. 31 Activities
<br />2010 $ 8,496
<br />2011 8,496
<br />Total minimum lease payments $ 16,992
<br />G. Long-term Debt
<br />Long-term debt obligations outstanding at year end are summarized as follows:
<br />Issue Maturity Interest
<br />PRIMARY GOVERNMENT Date Date Rate
<br />GOVERNMENTAL ACTIVITIES:
<br />General Obligation Bonds:
<br />2006C G.O. Capital Improvement Bonds
<br />2007D EDA G.O. Bonds
<br />2008A EDA G.O. Bonds
<br />State-Aid Road Bonds
<br />Total general obligation bonds
<br />General Obligation Revenue Bonds:
<br />1996C G.O. Ice Arena Bonds
<br />Lease Revenue Bonds:
<br />2002A Public Safety Building Lease
<br />Revenue Bonds
<br />Special Assessment Bonds:
<br />2003A G.O. Improvement Bonds
<br />2005A G.O. Improvement Bonds
<br />2007C G.O. Improvement Bonds
<br />Total special assessment bonds
<br />Tax Increment Bonds
<br />2000A G.O. Tax Increment Bonds
<br />Certificates of Indebtedness:
<br />2005D G.O. Equipment Certificates
<br />2006B G.O. Equipment Certificates
<br />2007B G.O. Equipment Certificates
<br />Total equipment certificates
<br />Total bonded indebtedness
<br />Capital leases
<br />Contracts for deeds
<br />Compensated absences payable
<br />Net OPEB obligation
<br />Total governmental activities indebtedness
<br />Authorized Payable
<br />and Issued 12.131/09
<br />12/14/2006 2/1/2027 3.80-4.05% $ 3,220,000 $ 3,025,000
<br />11/8/2007 2/1/2033 3.80-4.30% 10,000,000 10,000,000
<br />2/20/2008 2/1/2015 3.38% 2,000,000 1,775,000
<br />7/7/2008 8/20/2013 1.31% 2,352,256 1,877,757
<br /> 17,5 72,256 16,677,757
<br />
<br />8/1/1996 12/1;2013 5.70% 2,100,000 700,000
<br />
<br />9/1/2002 2/1/2023 2.00-4.85% 8,000,000 6,175,000
<br />
<br />12/9/2003 2/1/2014 2.00-4.00% 1,255,000 425,000
<br />6/14/2005 2!1/2016 2.75-3.70% 1,070,000 765,000
<br />6/26/2007 2/1/2018 4.00% 3,090,000 2,780,000
<br /> 5,415,000 3,970,000
<br />
<br />11/1/2000 2/1/2015 4.45-5.30% 800,000 440,000
<br />
<br />6/1/2005 2/1/2010 3.90% 645,000 146,750
<br />6/1/2006 2/1/2011 3.80% 437,000 174,800
<br />6/1/2007 2/1/2010 5.20% 300,500 100,166
<br /> 1,382,500 421,716
<br /> 35,269,756 28,384,473
<br />5/3/2006 11/1/2011 42,480 16,992
<br />1/15/2006 4/6/2013 5.50-6.00% 2,505,000 1,629,500
<br /> - 1,063,812
<br /> - 91,619
<br /> $ 37,817,236 $ 31,186,396
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