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<br /> CITY OF ELK RIVER, MINNESOTA
<br /> NOTES TO FINANCIAL STATEMENTS
<br /> DECEMBER 31, 2005
<br />Note 3: DETAILED NOTES ON ALL FUNDS - CONTINUED
<br /> Issue Maturity Interest Authorized Payable
<br /> Date Date Rate and Issued 12/31/05
<br />BUSINESS-TYPE ACTIVITIES:
<br />General Obligation Revenue Bonds:
<br /> 1996A G.O. Sewer Revenue Bonds 7/1/1996 2/1/2006 5.00-5.80% $ 2,655,000 $ 1,750,000
<br /> 1997B G.O. Water Revenue Bonds 8/1/1997 2/1/2007 4.00-4.90% 335,000 80,000
<br /> 1998B G.O. Water Revenue Bonds 12/1/1998 2/1/2014 4.10-5.00% 820,000 555,000
<br />2001A G.O. Water Revenue Bonds 10/1/2001 2/1/2022 2.50-4.90% 3,590,000 3,285,000
<br />2002B City Hall Expansion Revenue Bonds 9/1/2002 2/1/2023 3.00-5.00% 1,695,000 1,585,000
<br />2003B G.O. Water Revenue Bonds 12/9/2003 2/1/2014 2.00-3.70% 1,995,000 1,830,000
<br />2004A Electric Revenue Bonds 8/1/2004 2/1/2015 3.00-4.25% 940,000 940,000
<br />2005B G.O. Sewer Revenue Refunding Bonds 6/14/2005 2/1/2016 3.00-4.00% 1,660,000 1,660,000
<br />2005C Liquor Revenue Bonds 6/1/2005 2/1/2015 4.50% 1,200,000 1,200,000
<br /> Total general obligation revenue bonds 14,890,000 12,885,000
<br />Certificates of Indebtedness:
<br />2002 G.O. Electric Equipment Certificates 6/17/2002 2/1/2007 4.90% 500,000 250,000
<br /> Total bonded indebtedness 15,390,000 13,135,000
<br />Promissory note 03/19/02 12/31/22 -% 2,860,000 2,538,226
<br />Compensated absences payable 295,204
<br /> Total business-type activities indebtedness $ 18,250,000 $ 15,968,430
<br />Total City indebtedness $ 47,495,100 $ 36,427,227
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<br />Annual debt service requirements to maturity for general obligation bonds are as follows:
<br />
<br /> Governmental Activities
<br /> G.O. Revenue Bonds Lease Revenue Bonds Special Assessment Bonds
<br /> Principal Interest Principal Interest Principal Interest
<br />2006 $ 215,000 $ 93,605 $ 520,000 $ 363,854 $ 4,475,000 $ 179,036
<br />2007 230,000 81,520 535,000 344,825 395,000 64,339
<br />2008 245,000 68,505 560,000 323,815 270,000 54,702
<br />2009 255,000 54,540 585,000 300,744 275,000 45,795
<br />2010 160,000 39,900 615,000 275,730 200,000 38,011
<br />2011-2015 540,000 62,700 2,010,000 1,107,944 875,000 92,633
<br />2016 - 2020 2,310,000 666,680 115,000 2,128
<br />2021 - 2023 1,650,000 121,656
<br />Total $ 1,645,000 $ 400,770 $ 8,785,000 $ 3,505,248 $ 6,605,000 $ 476,644
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