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Note 3: CITY OF ARDEN HILLS, MINNESOTA NOTES TO FINANCIAL STATEMENTS DECEMBER 31,1999 DETAILED NOTES ON ACCOUNTS - CONTINUED Changes in General Long-term Liabilities 54 I .1 I I 37,773 I $ 3,137,773 I I During the year ended December 31, 1999, the following changes occurred in liabilities reported in the General Long-Term Debt Account Group: Balance J anuarv I Additions Reductions Compensated absences General obligation tax Increment debt $ $ $ 37,827 3.100,000 $ 3 137,827 $ $ Total Balance December 31 $ 3.100.000 54 The annual requirements to amortize all debt (excluding compensated absences) outstanding as of December 31, 1999 are as follows: Year G,O, Tax Increment 2000 2001 2002 2003 2004 Thereafter 136,996 205,667 286,315 285,092 288,450 3.252.648 $ 4,455,168 11.355.168) $ Total Less interest Principal $ 3100000 #3 I I -I I I I I I I J I I Amounts Available for Long-term Debt, Available fund balance in the debt service funds for repayment of bonds totaled $1,256,092 at year end, The General fund has $21,652 available to pay compensated absences Amaunts ta be Provided for Long-term Debt, This represents future revenue to be generated for debt payments, generally including interest earnings, tax increments, scheduled tax levies and deferred (future) special assessment levies. Tax increment districts, The City of Arden Hills is the administering authority for the following tax increment fmancing districts. District No, #2 Type of District Year established Duration of District Current tax capacity (payable 1999) Original tax capacity Captured tax capacity retained by authority Total bonds issued J\rnountsredeemed Outstanding bonds/loans at December 3 I, 1999 Redevelopment 1989 25 years 227,839 41.103 186 736 $ $ $ 3,100,000 $ 3 100 000 -19- $ Housing 1993 15 years 30,429 1.943 28 486 $ $ $