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CITY OF ARDEN HILLS,MINNESOTA <br /> NOTES TO FINANCIAL STATEMENTS <br /> DECEMBER 31,2000 <br /> Note 3: DETAILED NOTES ON ACCOUNTS-CONTINUED <br /> Changes in General Long-term Liabilities <br /> During the year ended December 31,2000,the following changes occurred in liabilities reported in the General <br /> Long-Term Debt Account Group: <br /> Balance Balance <br /> Januar_ Additions Reductions December 31 <br /> Compensated absences $ 37,773 $ 2,052 $ - $ 39,825 <br /> General obligation tax <br /> Increment debt 3,100,000 - - 3,100,000 <br /> Total 3.137.773 $ 2,052 $ - S-3-1239-825 <br /> The annual requirements to amortize all debt(excluding compensated absences)outstanding as of December 31, <br /> 2000 are as follows: <br /> G.O.Tax <br /> ' Year Increment <br /> 2001 $ 205,667 <br /> 2002 286,315 <br /> 2003 285,092 <br /> 2004 288,450 <br /> 2005 286,377 <br /> • Thereafter 2,966,268 <br /> Total $ 4,318,169 <br /> Less interest (1,218,169) <br /> ' Principal 3.100.000 <br /> Amounts Available for Long-term Debt. Available fund balance in the debt service funds for repayment of bonds <br /> totaled$119,271 at year end. The General fund has$21,652 available to pay compensated absences <br /> ' Amounts to be Provided for Long-term Debt. This represents future revenue to be generated for debt payments, <br /> generally including interest earnings,tax increments,scheduled tax levies and deferred(future)special <br /> assessment levies. <br /> Tax increment districts. The City of Arden Hills is the administering authority for the following tax increment <br /> fm -icing districts. <br /> District No. <br /> #2 #3 <br /> Type of District Redevelopment Housing <br /> Year established 1989 1993 <br /> Duration of District 25 years 15 years <br /> Current tax capacity(payable 200 1) $ 604,665 $ 38,393 <br /> ' Original tax capacity 41,311 1.917 <br /> Captured tax capacity retained by authority $ 563,354 $ 36,476 <br /> Total bonds issued $ 3,100,000 $ - <br /> Amounts redeemed - - <br /> Outstanding bonds/loans at December 31,2000 3.100.000 $ - <br /> 1 <br /> -19- <br />