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CITY OF ELK RIVER, MINNESOTA
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />DECEMBER 31, 2017
<br />55
<br />NOTE 7: LONG-TERM DEBT – CONTINUED
<br />C.Future Minimum Debt Payments
<br />Annual debt service requirements to maturity for long-term obligations are as follows:
<br />Principal Interest Principal Interest
<br />2018 1,280,000$ 460,862$ 295,000$ 2,950$
<br />2019 1,315,000 425,413 - -
<br />2020 1,350,000 388,862 - -
<br />2021 1,390,000 351,163 - -
<br />2022 1,430,000 312,262 - -
<br />2023 - 2027 5,290,000 1,126,031 - -
<br />2028 - 2032 5,340,000 531,088 - -
<br />2033 1,165,000 16,413 - -
<br />Total 18,560,000$ 3,612,094$ 295,000$ 2,950$
<br />Principal Interest Principal Interest Principal Interest
<br />2018 750,000$ 320,103$ 640,000$ 307,425$ 198,252$ -$
<br />2019 760,000 299,795 635,000 286,375 200,916 -
<br />2020 785,000 278,803 665,000 264,925 203,952 -
<br />2021 810,000 256,875 680,000 242,675 206,616 -
<br />2022 835,000 233,933 710,000 219,575 209,124 -
<br />2023 - 2027 2,515,000 938,938 2,550,000 862,450 - -
<br />2028 - 2032 2,755,000 559,097 2,870,000 553,994 - -
<br />2033 - 2035 1,895,000 99,813 2,575,000 156,956 - -
<br />Total 11,105,000$ 2,987,357$ 11,325,000$ 2,894,375$ 1,018,860$ -$
<br />Primary Government - Governmental Activities
<br />Notes Payable
<br />Primary Government - Business-Type Activities
<br />G.O. Revenue Bonds Revenue Bonds
<br />General Obligation Bonds Special Assessment Bonds
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