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<br /> Memorandum
<br /> Date: September 12, 2018
<br /> To: Honorable Mayor and City Council Members
<br /> Through: Marls R. Statz, City Administrator/City Engineer
<br /> From: Bruce DeJong, Finance Director
<br /> Item: 2019 Debt Fund Levies Discussion
<br /> The City of Centerville's debt levies have been interesting to review. Staff has updated
<br /> the bond spreadsheets by reviewing the original bond books, the original assessments
<br /> levied against benefitting properties, and the delinquent special assessments from Anoka
<br /> County. We have assembled this information into some existing spreadsheets to present
<br /> a full picture of our existing debt service obligations. We are now faced with some
<br /> crucial decisions on how to proceed on several of the outstanding issues.
<br /> The bonds payable at this time are (in order of maturity):
<br /> Principal Paid Principal
<br /> at
<br /> Bond Issue Maturity 12/31/2017 in 2018 12/31/2018
<br /> Fund 351 -$3,715,000 Impr Bonds 2009A 2/1/2018 $ 2,390,000 $ (2,390,000) $ -
<br /> Fund 349 -$2,760,000 Impr Bonds 2011A 7/1/2019 750,000 (385,000) 365,000
<br /> Fund 309 -$515,000 Impr Refunding 2012A 2/1/2021 200,000 (65,000) 135,000
<br /> Fund 348-$1,385,000 Impr Bonds 2015A 2/1/2025 1,340,000 (25,000) 1,315,000
<br /> Fund 351 -$1,815,000 Impr Refunding 2016A 2/1/2025 1,815,000 - 1,815,000
<br /> Fund 352 -$1,465,000 Impr Bonds 2013A 2/1/2029 1,465,000 (10,000) 1,455,000
<br /> Fund 614 -Cable TV Capital Note 2/1/2026 59,619 (6,179) 53,440
<br /> Total Outstanding Debt 12/31/2018 $ 8,019,619 $ (2,881,179) $ 5,138,440
<br /> Less: Refunding Escrow 1,815,000 - -
<br /> Net Debt Outstanding 12/31/2018 6,204,619 (2,881,179) 5,138,440
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