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ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> NOTES TO FINANCIAL STATEMENTS
<br /> DECEMBER 31,2012 AND 2011
<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 December31,
<br /> Description and Issued Rate Date Date 2012 2011
<br /> Electric Revenue
<br /> Bonds,Series 2004A $ 940,000 4.104.25 % 08/01/04 02/01/15 $ 330,000 $ 430,000
<br /> Electric Revenue
<br /> Bonds,Series 2006A 3,595,000 3.50-4.00 03/02/06 08/01/21 2,405,000 2,620,000
<br /> Electric Revenue
<br /> Bonds,Series 2007A 2,875,000 4.00 03/28/07 02/01/22 2,350,000 2,530,000
<br /> Total Revenue Bonds $ 5,085,000 $ 5,580,000
<br /> The annual requirements to amortize the revenue bonds as of December 31, 2012 are as follows:
<br /> Year Ending
<br /> December31, Principal Interest Total
<br /> 2013 $ 520,000 $ 192,358 $ 712,358
<br /> 2014 545,000 172,220 717,220
<br /> 2015 570,000 150,924 720,924
<br /> 2016 470,000 131,160 601,160
<br /> 2017 490,000 113,053 603,053
<br /> 2018-2022 2,490,000 254,780 2,744,780
<br /> Total m$ 5,085,000 $ 1,014,494 $ 61099494
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