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CITY OF ELK RIVER, MINNESOTA
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />DECEMBER 31, 2018
<br />NOTE 7: LONGTERM DEBT
<br />A. Components of Long-term Debt
<br />The City had the following long-term liabilities outstanding at December 31, 2018:
<br />BUSINESS -TYPE ACTIVITIES:
<br />Issue
<br />Maturity
<br />Interest
<br />Oroginal
<br />Payable
<br />PRIMARY GOVERNMENT
<br />Date
<br />Date
<br />Rate
<br />Issue
<br />12/31/18
<br />GOVERNMENTAL ACTIVITIES:
<br />2016A Electric Revenue Bonds
<br />7/14/2016
<br />2016B Electric Revenue Refunding Bonds
<br />7/14/2016
<br />General Obligation Bonds:
<br />7/14/2016
<br />Total Revenue Bonds
<br />2010A G.O. Capital Improvement Bonds
<br />4/21/2010
<br />2/1/2023
<br />2.00-4.00%
<br />$ 6,105,000
<br />$ 2,625,000
<br />2012A G.O. Capital Improvement Bonds
<br />3/15/2012
<br />2/1/2033
<br />1.00-2.50%
<br />6,975,000
<br />5,475,000
<br />2013A EDA G.O. Refunding Bonds
<br />2/12/2013
<br />2/1/2033
<br />2.00-3.00%
<br />9,685,000
<br />9,180,000
<br />Total General Obligation Bonds
<br />17,280,000
<br />Unamortized bond premiums
<br />352,016
<br />Compensated absences payable
<br />1,579,967
<br />Total Governmental Activities
<br />$ 19,211,983
<br />BUSINESS -TYPE ACTIVITIES:
<br />General Obligation Revenue Bonds:
<br />2008A G.O. Water Revenue Refunding Bonds
<br />2/20/2008
<br />2010A G.O. Capital Improvement Bonds
<br />4/21/2010
<br />2014B G.O. Sewer Revenue Bonds
<br />8/21/2014
<br />Total General Obligation Revenue Bonds
<br />Revenue Bonds:
<br />2016A Electric Revenue Bonds
<br />7/14/2016
<br />2016B Electric Revenue Refunding Bonds
<br />7/14/2016
<br />2018A Electric Revenue Bonds
<br />7/14/2016
<br />Total Revenue Bonds
<br />Total Bonds
<br />Unamortized bond premiums
<br />Promissory note
<br />Compensated absences payable
<br />Total Business -type Activities
<br />Total Primary Government
<br />2/1/2022 2.50-3.65% $ 3,085,000 $ 1,020,000
<br />8/1/2023 2.00-4.00% 1,265,000 555,000
<br />2/1/2035 2.00-3.50% 10,000,000 8,780,000
<br />10,355,000
<br />2/1/2036 2.00-4.00%
<br />2/1/2022 2.00-4.00%
<br />2/1/2022 2.00-4.00%
<br />3/19/2002 2/19/2022
<br />6%
<br />9,755,000 9,755,000
<br />1,370,000 930,000
<br />1,370,000 10,000,000
<br />20,685,000
<br />31,040,000
<br />870,336
<br />3,521,000 820,608
<br />504,447
<br />$ 33,235,391
<br />$ 52,447,374
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