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CITY OF ROSEVILLE,MINNESOTA <br /> NOTES TO FINANCIAL STATEMENTS <br /> December 31, 2014 <br /> I <br /> F. Leases <br /> The City leases office facilities and copiers under noncancelable operating leases. Total costs for <br /> ' such leases were $97,484 for the year ended December 31, 2014. The future minimum lease <br /> payments for these leases are as follows: <br /> ' Year Ending Dec. 31 Amount <br /> 2015 97,346 <br /> ' 2016 99,200 <br /> 2017 10,688 <br /> Total $ 207,234 <br /> G. Long-term debt <br /> ' The City issues general obligation debt to provide for financing construction of major capital <br /> facilities and street improvements. Debt service for street improvements is covered by special <br /> assessments against benefited properties with any shortfalls being paid from general taxes. <br /> General obligation bonds and certificates of indebtedness are direct obligations and pledge the full <br /> faith and credit of the government. The original amount of general obligation bonds and certificates <br /> ' of indebtedness for the issues listed below is $33,370,000 <br /> General obligation debt currently outstanding is as follows: <br /> ' Net Interest <br /> Purpose Rates Amount <br /> Governmental activities 85% - 5.6% $ 30,780,000 <br /> i <br /> I <br /> 1 <br /> 57 <br />