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CITY OF ELK RIVER, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />DECEMBER 31, 2003
<br />
<br />Note 3:
<br />
<br /> DETAILED NOTES ON ALL FUNDS - CONTINUED
<br />
<br /> Issue
<br /> Date
<br /> Certificates of Indebtedness:
<br /> 2002 G.O. Electric Equipment Certificate 6/17/2002
<br />
<br /> Total bonded indebtedness
<br />
<br /> Promissory Note
<br /> Compensated absences payable
<br />
<br /> Total business-type activities indebtedness
<br />
<br />Total City indebtedness
<br />
<br />3/19/2002
<br />
<br /> Maturity Interest
<br /> Date Rate
<br />
<br />2/1/2007 4.90%
<br />12/31/2022 -%
<br />
<br />Annual debt service requirements to maturity for general obligation bonds are as follows:
<br />
<br />G.O. Bond
<br />
<br />Governmental Activities
<br />
<br />G.O. Revenue Bonds
<br />
<br /> Principal Interest Principal Interest
<br />2004 $ 115,000 $ 85,215 $ 560,000 $ 428,248
<br />2005 120,000 78,660 585,000 407,890
<br />2006 130,000 71,820 605,000 385,639
<br />2007 135,000 64,410 630,000 361,935
<br />2008 145,000 56,715 660,000 335,605
<br />2009-2013 850,000 151,050 2,520,000 1,293,406
<br />2014-2018 2,120,000 859,593
<br />2019-2023 2,635,000 325,845
<br />
<br />Total $1.495:000 $ 507,870 $10.315.000 $ 4,398.161
<br />
<br /> Original Payable
<br /> Issue 12/31/03
<br />
<br />$ 500,000 $ 500,000'
<br />16,250,000 12,930,000
<br />
<br /> 2,860,000 2,775,424
<br /> 252~975
<br />
<br /> 19,110,000 15,958,399
<br />$ 50.870:050 $ 39.027.05~2
<br />
<br />Special Assessment Bonds
<br />
<br />Principal Interest
<br />$1,060,000 $ 292,347
<br />925,000 262,755
<br />960,000 225,487
<br />935,000 187,577
<br />620,000 154,967
<br />2,010,000 472,879
<br />1,010,000 58,200
<br />
<br />$ 7.520.000 $1.654.21~2
<br />
<br />Governmental Activities
<br />
<br /> Tax Increment Certificates of
<br />PIR Bonds Bonds Indebtedness
<br />
<br /> Principal Interest Principal Interest
<br />2004 $ 285,000 $ 56,732 $ 236,500 $ 73,267
<br />2005 85,000 48,386 143,500 59,475
<br />2006 85,000 44,498 145,000 50,495
<br />2007 85,000 40,545 152,500 41,166
<br />2008 85,000 36,529 95,000 33,657
<br />2009-2013 425,000 120,700 420,000 91,759
<br />2014-2018 255,000 20,442 160,000 8,440
<br />
<br />Principal Interest
<br />$ 237,983 $ 19,198
<br />205,433 3,558
<br />169,534 2,286
<br />
<br />Contract for Deed
<br />
<br />Principal Interest
<br />$ 47,976 $ 1,679
<br />
<br />Total $1.305.000 $ 367.83:2 $1.352.500 $ 358.259 $ 612.95~0 $ 25.042 $ 47.97____~6 $1.67___~9
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