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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />DECEMBER 31, 201 I AND 2010
<br />Note 2: DETAILED NOTES ON ALL FUNDS -CONTINUED
<br />Revenue bonds
<br />The following bonds were issued to finance capital improvements in the Electric fund. They will be retired from net
<br />revenues of the fund.
<br /> Authorized Interest Issue Maturity December 31,
<br />Description and Issued Rate Date Date 2011 2010
<br />
<br />Electric Revenue
<br />Bonds, Series2004A $ 940,000 4.00-4.25% 08/01/04 OZ/01/IS $ 430,000 $ 525,000
<br />Elecnic Revenue
<br />Bonds, Series 2006A 3,595,000 3.50-4.00 03/02106 08/01/21 2,620,000 2,830,000
<br />Electric Revenue
<br />Bonds, Series 2007A 2,875,000 4,00 03/28/07 02/01/22 2,530,000 2,705,000
<br />Total Revenue Bonds $ 5,580.000 $ 6.060.000
<br />
<br />The annual requiremen ts to amortize th e revenue bonds as of December 31, 201 I are as follows:
<br />Year Ending
<br />December 3l, Principal Interest Total
<br />2012 495,000 211,435 $ 706,435
<br />2013 520,000 192,358 712,358
<br />2014 545,000 172,221 717,221
<br />2015 570,000 150,924 720,924
<br />2016 470,000 131,160 601,160
<br />2017-2021 2,695,000 362,133 3,057,133
<br />2022 285,000 5,700 290,700
<br />Total $ 5.580.000 $ 1,225,931 $ 6,805,931
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