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CITY OF ELK RIVER, MINNESOTA
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />DECEMBER 31, 2017
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<br />NOTE 7: LONG-TERM DEBT
<br />A.Components of Long-term Debt
<br />The City had the following long-term liabilities outstanding at December 31, 2017:
<br />Issue Maturity Interest Oroginal Payable
<br />PRIMARY GOVERNMENT Date Date Rate Issue 12/31/17
<br />GOVERNMENTAL ACTIVITIES:
<br />General Obligation Bonds:
<br />2010A G.O. Capital Improvement Bonds 4/21/2010 2/1/2023 2.00-4.00% 6,105,000$ 3,090,000$
<br />2012A G.O. Capital Improvement Bonds 3/15/2012 2/1/2033 1.00-2.50%6,975,000 5,785,000
<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 18,560,000
<br />Special Assessment Bonds:
<br />2012B G.O. Improvement Refunding Bonds 3/15/2012 2/1/2018 2.00% 1,525,000 295,000
<br /> Total Bonds 18,855,000
<br />Unamortized bond premiums 392,312
<br />Compensated absences payable 1,555,037
<br /> Total Governmental Activities 20,802,349$
<br />BUSINESS-TYPE ACTIVITIES:
<br />General Obligation Revenue Bonds:
<br />2008A G.O.Water Revenue Refunding Bonds 2/20/2008 2/1/2022 2.50-3.65% 3,085,000$ 1,255,000$
<br />2010A G.O. Capital Improvement Bonds 4/21/2010 8/1/2023 2.00-4.00% 1,265,000 655,000
<br />2014B G.O. Sewer Revenue Bonds 8/21/2014 2/1/2035 2.00-3.50% 10,000,000 9,195,000
<br /> Total General Obligation Revenue Bonds 11,105,000
<br />Revenue Bonds:
<br />2014A Electric Revenue Refunding Bonds 3/13/2014 8/1/2018 2.00-4.00% 2,030,000 420,000
<br />2016A Electric Revenue Bonds 7/14/2016 2/1/2036 2.00-4.00% 9,755,000 9,755,000
<br />2016B Electric Revenue Refunding Bonds 7/14/2016 2/1/2022 2.00-4.00% 1,370,000 1,150,000
<br /> Total Revenue Bonds 11,325,000
<br /> Total Bonds 22,430,000
<br />Unamortized bond premiums 484,706
<br />Promissory note 3/19/2002 2/19/2022 -%3,521,000 1,018,860
<br />Compensated absences payable 431,674
<br /> Total Business-type Activities 24,365,240$
<br />Total Primary Government 45,167,589$
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