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CITY OF ELK RIVER,MINNESOTA
<br /> NOTES TO FINANCIAL STATEMENTS
<br /> DECEMBER 31,2013
<br /> Note 3: DETAILED NOTES ON ALL FUNDS—CONTINUED
<br /> E. Long-term Debt
<br /> Long-term debt obligations outstanding at year end are summarized as follows:
<br /> Issue Maturity Interest Authorized Payable
<br /> PRIMARY GOVERNMENT Date Date Rate and Issued 12/31/13
<br /> GOVERNMENTAL ACTIVITIES:
<br /> General Obligation Bonds:
<br /> 2006C G.O.Capital Improvement Bonds 12/14/2006 2/1/2027 3.80-4.05% $ 3,220,000 $ 2,535,000
<br /> 2007D EDA G.O.Bonds 11/8/2007 2/1/2017 3.80% 10,000,000 10,000,000
<br /> 2008A EDA G.O.Bonds 2/20/2008 2/1/2015 3.38% 2,000,000 645,000
<br /> 2010A G.O.Capital Improvement Bonds 4/21/2010 2/1/2023 2.00-4.00% 6,105,000 4,835,000
<br /> 2012A G.O.Capital Improvement Bonds 3/15/2012 2/1/2033 1.00-2.50% 6,975,000 6,975,000
<br /> 2013A EDA G.O.Refunding Bonds 2/12/2013 2/1/2033 2.00-3.00% 9,685,000 9,685,000
<br /> Total general obligation bonds 37,985,000 34,675,000
<br /> Special Assessment Bonds:
<br /> 2003A G.O.Improvement Bonds 12/9/2003 2/1/2014 2.00-4.00% 1,255,000 60,000
<br /> 2012B G.O.Improvement Refunding Bonds 3/15/2012 2/1/2018 2.00% 1,525,000 1,525,000
<br /> Total special assessment bonds 2,780,000 1,585,000
<br /> Total bonded indebtedness 40,765,000 36,260,000
<br /> Contracts for deeds 4/12/2008 4/6/2013 5.00-6.00% 1,800,000 1,410,000
<br /> Compensated absences payable 1,442,996
<br /> Net OPEB obligation - 247,937
<br /> Total governmental activities indebtedness $ 42,565,000 $ 39,360,933
<br /> BUSINESS-TYPE ACTIVITIES:
<br /> General Obligation Revenue Bonds:
<br /> 2003E G.O.Water Revenue Bonds 12/9/2003 2/1/2014 2.00-3.70% $ 1,995,000 $ 235,000
<br /> 2005B G.O.Sewer Revenue Refunding Bonds 6/14/2005 2/1/2016 3.00-4.00% 1,660,000 560,000
<br /> 2008A G.O.Water Revenue Refunding Bonds 2/20/2008 2/1/2022 2.50-3.65% 3,085,000 2,180,000
<br /> 2010A G.O.Capital Improvement Bonds 4/21/2010 8/1/2023 2.00-4,00% 1,265,000 1,015,000
<br /> Total general obligation revenue bonds 8,005,000 3,990,000
<br /> Revenue Bonds:
<br /> 2006A Electric Revenue Bonds 3/2/2006 8/1/2021 3.15-4.00% 3,595,000 2,180,000
<br /> 2007A Electric Revenue Bonds 3/28/2007 2/1/2022 4.00% 2,875,000 2,160,000
<br /> Total revenue bonds 6,470,000 4,340,000
<br /> Total bonded indebtedness 14,475,000 8,330,000
<br /> Promissory note 3/19/2002 12/31/2022 % 3,521,000 1,789,224
<br /> Compensated absences payable 457,668
<br /> Net OPEB obligation 80,366
<br /> Total business-type activities indebtedness $ 17,996,000 $ 10,657,258
<br /> Total City indebtedness $ 60,561,000 $ 50,018,191
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