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<br />City of Elk River
<br />Notes to Basic Financial Statements
<br />NOTE 9 – LONG-TERM DEBT (CONTINUED)
<br />B.Components of Long -Term Liabilities
<br />Primary Government
<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 5,910,000$
<br />G.O. Sales Tax Revenue Bonds, Series 2019A 09/19/19 2.50%-5.00%32,715,000 12/01/44 28,690,000
<br />G.O. Capital Improvement Bonds, Series 2020A 12/29/20 1.00%-5.00%9,435,000 02/01/42 8,745,000
<br />12/29/20 1.00%-5.00%5,340,000 02/01/33 3,235,000
<br />05/20/21 1.35%-5.00%4,805,000 02/01/42 4,325,000
<br />Total general obligation bonds 50,905,000
<br />Unamortized bond premium/discount 4,068,509
<br />Lease liability 231,458
<br />Compensated absences 2,120,002
<br />Total governmental activities 57,324,969
<br />Business-type activities
<br />General obligation revenue bonds
<br />12/29/20 1.00%-1.70%7,200,000 02/01/35 6,160,000
<br />G.O. Water Revenue Bonds, Series 2021C 06/10/21 2.00%-4.00%1,615,000 08/01/41 1,445,000
<br />Total general obligation revenue bonds 7,605,000
<br />Revenue Bonds
<br />Electric Revenue Bonds, Series 2016A 07/14/16 2.00%-4.00%9,755,000 02/01/36 7,020,000
<br />Electric Revenue Bonds, Series 2018A 09/26/18 3.50%-5.00%10,000,000 08/01/48 8,815,000
<br />Electric Revenue Bonds, Series 2021B 05/13/21 2.00%-5.00%11,810,000 08/01/51 11,170,000
<br />Total revenue bonds 27,005,000
<br />Total bonds 34,610,000
<br />Unamortized bond premium/discount 1,330,542
<br />Lease liability 44,836
<br />Compensated absences 1,152,529
<br />Total business-type activities 37,137,907
<br />Total all long-term liabilities 94,462,876$
<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.
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