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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 /> Annual debt service requirements to maturity for long-term obligations are as follows:
<br /> Primary Government-Governmental Activities
<br /> G.O.Bonds Special Assessment Bonds Contract for deed
<br /> Principal Interest Principal Interest Principal Interest
<br /> 2014 $ I,160,000 $ 1,054,579 S 375,000 $ 28,550 $ 1,410,000 S 84,600
<br /> 2015 1,195,000 1,027,045 310,000 21,100 -
<br /> 2016 1,275,000 995,159 305,000 14,950
<br /> 2017 10,530,000 957,026 300,000 8,900
<br /> 2018 1,440,000 535,338 295,000 2,950
<br /> 2019-2023 7,870,000 2,020,971 - -
<br /> 2024-2028 5,710,000 1,087,179
<br /> 2029-2033 5,495,000 387,444 - - -
<br /> Total S 34,675,000 $ 8,064,741 $ 1,585,000 $ 76,450 1,410,000 84,600
<br /> Primary Government-Business-Type Activities
<br /> G.O.Revenue Bonds Revenue Bonds Notes Payable
<br /> Princi a-1 Interest Principal Interest Principal Interest
<br /> 2014 $ 1,155,000 $ 116,866 $ 435,000 $ 165,023 S 189,353 $
<br /> 2015 300,000 92,840 455,000 148,480 191,508
<br /> 2016 305,000 84,333 470,000 131,160 194,292
<br /> 2017 320,000 74,850 490,000 113,053 195,216
<br /> 2018 335,000 63,948 515,000 93,815 198,252
<br /> 2019-2023 1,575,000 132,484 1,975,000 160,964 820,603
<br /> Total $ 3,990,000 $ 565,321 $ 4,340,000 $ 812,495 $ 1,789,224 $
<br /> Long-term liability activity for the year ended December 31,2013 was as follows:
<br /> Beginning Ending Due Within
<br /> PRIMARY GOVERNMENT Balance Additions Reductions Balance One Year
<br /> GOVERNMENTAL ACTIVITIES:
<br /> Bonds payable:
<br /> General obligation bonds $ 26,334,000 $ 9,685,000 $ (1,344,000) $ 34,675,000 $ 1,160,000
<br /> Special assessment bonds 3,975,000 - (2,390,000) 1,585,000 375,000
<br /> Issuance premium 305,972 341,700 (51,072) 596,600 -
<br /> Total bonds payable 30,614,972 10,026,700 (3,785,072) 36,856,600 1,535,000
<br /> Contracts for deeds 1,410,000 - 1,410,000 1,410,000
<br /> Compensated absences 1,395,326 653,660 (605,990) 1,442,996 588,619
<br /> Net OPEB obligation 208,486 _ 86,785 (47,334) 247,937 -
<br /> Govermnental activity
<br /> long-term liabilites 33,628,784 10,767,145 (4,438,396) 39,957,533 3,533,619
<br /> BUSINESS-TYPE ACTIVITIES:
<br /> Bonds payable
<br /> G.O.revenue bonds 4,750,000 (760,000) 3,990,000 1,155,000
<br /> Revenue bonds 5,085,000 - (745,000) 4,340,000 435,000
<br /> Issuance premium 41,567_ - (4,089) 37,478 -
<br /> Total bonds payable 9,876,567 (1,509,089) 8,367,478 1,590,000
<br /> Notes payable 1,975,812 - (186,588) 1,789,224 189,353
<br /> Compensated absences 418,317 306,374 (267,023) 457,668 209,348
<br /> Net OPEB obligation 67,419 15,807 (2,860) 80,366 -
<br /> Business-type activity
<br /> long-term liabilities 12,338,115 322,181 (1,965,560) 10,694,736 1,988,701
<br /> Total primary government
<br /> long-term liabilities $ 45,966,899 $ 11,089,326 $ (6,403,956) $ 50,652,269 $5.522,320
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