|
ELK RIVER MUNICIPAL UTILITIES
<br /> ELK RIVER,MINNESOTA
<br /> NOTES TO FINANCIAL STATEMENTS
<br /> DECEMBER 31,2003 AND 2002
<br /> Note 2: DETAILED NOTES ON ALL FUNDS-CONTINUED
<br /> Changes in Long-term Liabilities
<br /> Long-term liability activity for the year ended December 31, 2003, was as follows:
<br /> Beginning Ending Due Within
<br /> Balance Additions Reductions Balance One Year
<br /> G.O.Revenue Bonds
<br /> G.O.Water Revenue
<br /> Bonds of 1993B $ 630,000 $ - $ 75,000 $ 555,000 $ 555,000
<br /> G.O. Water Revenue
<br /> Bonds of 1994D 645,000 - 65,000 580,000 580,000
<br /> G.O. Water Revenue
<br /> Bonds of 1997B 185,000 - 35,000 150,000 35,000
<br /> G.O. Water Revenue
<br /> Bonds of 1998B 700,000 - 45,000 655,000 50,000
<br /> G.O.Water Revenue
<br /> Bonds of 2001A 3,590,000 - 60,000 3,530,000 120,000
<br /> G.O. City Hall
<br /> Expansion Revenue
<br /> Bonds of2002B 1,695,000 - - 1,695,000 55,000
<br /> G.O.Water Revenue
<br /> Bonds of 2003B - 1,995,000 - 1,995,000 -
<br /> G.O.Equipment Certificate
<br /> G.O.Electric Equipment
<br /> Certificate of 2002 500,000 - - 500,000 125,000
<br /> Promissory Note
<br /> Promissory Note 2,854,536 - 79,112 2,775,424 122,484
<br /> Total $ 9 104,536 5 1.995 000 359.112 $ 12 435,424 $ 1542_4E4
<br /> The annual requirements to amortize all debt outstanding as of December 31,2003 are as follows:
<br /> Year Ending
<br /> December 31, Bonds Notes Total
<br /> 2004 $ 1,900,652 $ 122,484 $ 2,023,136
<br /> 2005 880,307 124,919 1,005,226
<br /> 2006 886,187 127,274 1,013,461
<br /> 2007 883,598 129,554 1,013,152
<br /> 2008 707,335 131,945 839,280
<br /> 2009-2013 3,621,903 694,061 4,315,964
<br /> 2014-2018 2,388,718 749,928 3,138,646
<br /> 2019-2023 1,827,678 695,259 2,522,937
<br /> Total principal and interest 13,096,377 2,775,424 15,871,801
<br /> Less interest (3,436,377) - (3,436,377)
<br /> Total principal X9.660.000 L_22775,424 12.4 35424
<br /> -18-
<br />
|