|
<br /> 76
<br />City of Elk River
<br />Notes to Basic Financial Statements
<br />
<br />
<br />NOTE 9 – LONG-TERM DEBT (CONTINUED)
<br />
<br />B. Components of Long-Term Liabilities
<br />
<br />Primary Government
<br />
<br />Issue Interest Original Final Balance
<br />Date Rates Issue Maturity End of Year
<br />Governmental activities
<br />General obligation bonds
<br />EDA G.O. Refunding Bonds, Series 2013A 02/12/13 2.00%-3.00% 9,685,000$ 02/01/33 6,485,000$
<br />G.O. Sales Tax Revenue Bonds, Series 2019A 09/19/19 2.50%-5.00% 32,715,000 12/01/44 29,625,000
<br />G.O. Capital Improvement Bonds, Series 2020A 12/29/20 1.00%-5.00% 9,435,000 02/01/42 9,100,000
<br />12/29/20 1.00%-5.00% 5,340,000 02/01/33 3,530,000
<br />05/20/21 1.35%-5.00% 4,805,000 02/01/42 4,570,000
<br />Total general obligation bonds 53,310,000
<br />Unamortized bond premium/discount 4,320,442
<br />Lease liability 295,134
<br />Compensated absences 1,992,878
<br />Total governmental activities 59,918,454
<br />Business-type activities
<br />General obligation revenue bonds
<br />12/29/20 1.00%-1.70% 7,200,000 02/01/35 6,680,000
<br />G.O. Water Revenue Bonds, Series 2021C 06/10/21 2.00%-4.00% 1,615,000 08/01/41 1,505,000
<br />Total general obligation revenue bonds 8,185,000
<br />Revenue Bonds
<br />Electric Revenue Bonds, Series 2016A 07/14/16 2.00%-4.00% 9,755,000 02/01/36 7,515,000
<br />Electric Revenue Bonds, Series 2018A 09/26/18 3.50%-5.00% 10,000,000 08/01/48 9,025,000
<br />Electric Revenue Bonds, Series 2021B 05/13/21 2.00%-5.00% 11,810,000 08/01/51 11,420,000
<br />Total revenue bonds 27,960,000
<br />Total bonds 36,145,000
<br />Unamortized bond premium/discount 1,399,515
<br />Lease liability 32,679
<br />Compensated absences 673,722
<br />Total business-type activities 38,250,916
<br />Total all long-term liabilities 98,169,370$
<br />G.O. Capital Improvement Refunding Bonds,
<br /> Series 2020B
<br />G.O. Capital Improvement and Equipment Bonds,
<br /> Series 2021A
<br />G.O. Sewer Revenue Refunding Bonds,
<br /> Series 2020C
<br /> Long-term bonded indebtedness listed above were issued to finance equipment and the acquisition
<br />and construction of capital facilities or to refinance (refund) previous bond issues.
<br />Page 197 of 464
|