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<br />Elk River Economic Development Authority
<br /> General Obligation Debt Supported by Taxes*
<br />
<br /> Est. Principal
<br /> Date Original Final Outstanding
<br /> of Issue Amount Purpose Maturity As of 6-10-21
<br />
<br /> 2-12-13 $9,685,000 Refunding 2-1-2033 $7,600,000
<br /> * This issue was issued by the Elk River Economic Development Authority (the “Authority”), but is secured by the
<br />City’s full faith and credit and taxing powers. Two-thirds of the debt is paid by taxes and is subject to the City’s
<br />legal debt limit. The remaining one-third of the debt is paid by The Young Men's Christian Association of
<br />Metropolitan Minneapolis (“YMCA”) and is not subject to the legal debt limit. The total aggregate principal amount
<br />subject to the debt limit as of May 20, 2021 is $5,066,669.
<br />
<br /> Elk River Economic Development Authority
<br /> Estimated Calendar Year Debt Service Payments
<br />
<br /> G.O. Debt Supported
<br /> by Taxes
<br /> Principal
<br />Year Principal & Interest
<br />
<br />2021 (at 6-10) (Paid) $ 91,969
<br />2022 $ 550,000 728,438
<br />2023 565,000 732,288
<br />2024 575,000 730,888
<br />2025 590,000 734,238
<br />2026 605,000 737,288
<br />2027 615,000 734,318
<br />2028 630,000 734,919
<br />2029 650,000 739,313
<br />2030 675,000 746,906
<br />2031 690,000 743,138
<br />2032 715,000 747,925
<br />2033 740,000 751,100
<br />
<br />Total $7,600,000* $8,952,728
<br />* 80.9% of this debt will be retired within ten years. Overlapping Debt
<br />
<br /> 2019/20 Debt Applicable to
<br /> Adjusted Taxable Est. G.O. Debt Tax Capacity in City
<br />Taxing Unit(a) Net Tax Capacity As of 6-10-21(b) Percent Amount
<br />
<br />Sherburne County $106,729,866 $ 41,125,000 26.1% $ 10,733,625
<br />I.S.D. No. 728 (Elk River) 93,894,622 309,508,241 29.6 91,614,439
<br />
<br />Total $102,348,064
<br /> (a) Only those units with outstanding general obligation debt are shown here. (b) Excludes general obligation tax and aid anticipation certificates and revenue-supported debt. Includes certificates
<br />of participation and lease obligations.
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