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CITY OF ROSEVILLE, MINNESOTA <br /> MANAGEMENT'S DISCUSSION AND ANALYSIS <br /> For Year Ended December 31, 2014 <br /> LONG-TERM OBLIGATIONS <br /> At the end of the current fiscal year, the City of Roseville had total long-term debt outstanding of <br /> $30,780,000. <br /> In March, 2013 the City issued $3.98 million in general obligation refunding bonds to refinance the debt <br /> originally issued to construct an expansion of City Hall. In addition, the City also has long-term liabilities <br /> in the amount of$1,656,934 for compensated absences and $886,012 for the net obligation for OPEB. <br /> OUTSTANDING DEBT GENERAL OBLIGATION IMPROVEMENT BONDS <br /> AND CERTIFICATES OF INDEBTEDNESS <br /> Governmental Governmental Business-Type Business-Type <br /> Activities Activities Activities Activities Total Total <br /> 2014 2013 2014 2013 2014 2013 <br /> General obligation <br /> Improvement bonds S - 5 225,000 5 - S - S - 5 225.000 <br /> General obligation <br /> Municipal bonds 29,540,000 35,385,000 - - 29.540,000 35,385,001) <br /> Certificates of <br /> Indebtedness 1,240,000 1,525.000 - - 1.240.000 1.525,000 <br /> Total Outstanding Debt $ 30,780.000 S 37,135.000 S - S - S 30.780,000 5 37.135.000 <br /> The City of Roseville maintains an Aaa rating from Moody's and an AAA from Standard and Poor's on all <br /> of its general obligation debt. <br /> Minnesota State statutes limit the amount of general obligation debt a city may issue to 3% of total <br /> Estimated Market Value. The current debt limitation for the City of Roseville is $114,422,484. <br /> $29,875,000 of the City's outstanding debt is counted against the statutory limitation as the debt is wholly <br /> financed by a general tax levy. <br /> Additional information on the City of Roseville's long-term debt can be found in Note 1-D and Note 4-G <br /> this report. <br /> 24 <br />