My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2002-09-25 CC Packet
Centerville
>
City Council
>
Agenda Packets
>
1996-2022
>
2002
>
2002-09-25 CC Packet
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/13/2009 10:41:58 AM
Creation date
5/13/2009 10:38:41 AM
Metadata
Fields
Template:
General
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
324
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />- I <br /> <br />CITY OF CENTERVILLE, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2001 <br /> <br />Note 3: DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS - CONTINUED <br /> <br />General Obligation Improvement Bonds <br /> <br />The following bonds were issued to finance various improvements and will be repaid primarily from special <br />assessments levied on the properties benefiting from the improvements. Some issues, bowever, are partly <br />financed by ad valorem tax levies. All special assessment debt is backed by the full faith and credit of the City. <br />Each year the combined assessment and tax levy equals 105 percent of the amount required for debt service. The <br />excess of 5 percent is to cover aoy delinquencies in tax or assessment payments. <br /> <br /> Authorized Balance <br /> and Interest Issue Maturity at <br /> Issued Rate Date Date Year End <br />G.O. Improvement Refunding <br />Bonds of 1996 $ 605,000 4.40.4.50% 11-01-96 02-01-02 $ 130,000 <br />G.O. Improvement Bonds <br />of 1998 615,000 4.10-4.50 08-01-98 02-01-09 510,000 <br />G.O. Improvement Refunding <br />Bonds of 1998 245,000 4.71 07-01-98 02-01-03 100,000 <br />G.O. Improvement Bonds <br />of 2000 650,000 4.65-5.25 11-01-00 02-01-11 650,000 <br />G.O. Improvement Bonds <br />of 2001 990,000 2.90-4.45 11-01-01 02-01-13 990.000 <br />Total General Obligation Special Assessment Bonds $ 2 380 000 <br />General Obligation Revenue Bonds <br /> <br />The following bonds were issued to finance improvements to the water system. They will be retired by user <br />charges and are backed by the full faith and credit of the City. <br /> <br />G.O. Water Revenue Bonds <br />of 1996 $ 410,000 5.05-5.40% <br />G.O. Water and Sewer Revenue <br />Bonds of 1998 720,000 4.15-4.80 <br /> <br />08-01-96 <br />07-01-98 <br /> <br />02-01-08 $ 310,000 <br />02-01-09 600.000 <br />$ 910 000 <br /> <br />Total General Obligation Revenue Bonds <br /> <br />Capital Lease Payable <br /> <br />During 1992, the City entered into a lease, with option to purchase, agreement as lessee for financing the <br />construction of the City administration office and fire department Title remains with the City so long as they <br />are not in default of terms in the lease agreement. The lease agreement qualifies as a capital lease for accounting <br />purposes and, therefore, has been recorded at the present value of the future minimum lease payments as of the <br />date of its inception. <br /> <br />$ 500,000 <br /> <br />6.28% <br /> <br />09-16-92 <br /> <br />02-01-03 $ <br /> <br />112732 <br /> <br />Compensated Absences <br /> <br />This liability represents vested benefits earned by employees through the end of the year, which will be paid at <br />termination of employment in future years. <br /> <br />Total Compensated Absences <br /> <br />$ <br /> <br />14.451 <br />
The URL can be used to link to this page
Your browser does not support the video tag.