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CITY OF ELK RIVER, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />DECEMBER 31, 2010
<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 />2010, were as follows:
<br />Governmental
<br />Year Ending Dec. 31. 2011 Activities
<br />Total minimum lease payments $ 8,496
<br />G. Long-term Debt
<br />Long-term debt obligations outstanding at year end are summarized as follows:
<br />PRIlI2ARY GOVERNMENT
<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 />2010A G.O. Capital Improvement Bonds
<br />Total general obligation bonds
<br />General Obligation Revenue Bonds:
<br />1996C G.O. Ice Arena 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 />2006B G.O. Equipment Certificates
<br />Total bonded indebtedness
<br />Capital lease
<br />Contracts for deeds
<br />Compensated absences payable
<br />Net OPEB obligation
<br />Total governmental activities indebtedness
<br />Issue Maturity Interest Authorized Payable
<br />Date Date Rate and Issued 12/31/10
<br />12/14/2006 2/1/2027 3.80-4.05% $ 3,220,000 $ 2,910,000
<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 1,510,000
<br />7/7/2008 8/20/2013 1.31% 2,431,500 1,477,000
<br />4/21/2010 2/1/2023 2.00-4.00% 6,105,000 6,105,000
<br /> 23,756,500 22,002,000
<br />
<br />8/1/1996 12/1/2013 5.70% 2,100,000 540,000
<br />
<br />12/9/2003 2/1/2014 2.00-4.00°/a 1,255,000 330,000
<br />6/14/2005 2/1/2016 2.75-3.70% 1,070,000 660,000
<br />6/26/2007 2/1/2018 4.00% 3,090,000 2,470,000
<br /> 5,415,000 3,460,000
<br />
<br />11/1/2000 2/1/2015 4.45-5.30% 800,000 375,000
<br />
<br />6/1/2006 2/1/2011 3.80°/a 437,000 87,400
<br />
<br /> 32,508,500 26,464,400
<br />9/13/2006 11/1/2011 42,480 8,496
<br />10/31/2007 4/6/2013 5.00-6.00% 2,125,000 1,491,250
<br /> - 1,198,485
<br /> - 91,502
<br /> $ 34,675,980 $ 29,254,133
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