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CITY OF ROSEVILLE, MINNESOTA
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<br />MANAGEMENT’S DISCUSSION AND ANALYSIS
<br />For Year Ended December 31, 2016
<br />
<br />
<br />LONG-TERM OBLIGATIONS
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<br />At the end of the current fiscal year, The City of Roseville had total long-term debt outstanding of
<br />$28,585,000. Of this amount: $2,420,000 was for general obligation refunding bonds to refinance the
<br />debt originally issued to construct an expansion of City Hall, $8,195,000 for the general obligation to
<br />finance the construction of a new fire station and to make various park improvements, $13,500,000 for
<br />the general obligation for remaining construction of a new fire station and for various parks renewal
<br />projects, $770,000 for housing improvements, $3,060,000 in general obligation tax increment revenue
<br />bonds to finance public improvements within Tax Increment Financing District No. 17, and $640,000 of
<br />general obligation certificate of indebtedness for the replacement of the Ice Arena refrigeration system.
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<br />
<br />OUTSTANDING DEBT GENERAL OBLIGATION IMPROVEMENT BONDS
<br />AND CERTIFICATES OF INDEBTEDNESS
<br />
<br />Governmental Governmental Business-Type Business-Type
<br />Activities Activities Activities Activities Total Total
<br />2016 2015 2016 2015 2016 2015
<br />General obligation
<br />Tax Increment Revenue Bonds 3,060,000$ 3,060,000$ -$ -$ 3,060,000$ 3,060,000$
<br />Municipal bonds 24,885,000 27,240,000 - - 24,885,000 27,240,000
<br />Certificates of
<br />Indebtedness 640,000 945,000 - - 640,000 945,000
<br />Total Outstanding Debt 28,585,000$ 31,245,000$ -$ -$ 28,585,000$ 31,245,000$
<br />
<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 />
<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 $122,012,310.
<br />$28,585,000 of the City's outstanding debt is counted against the statutory limitation as the debt is wholly
<br />financed by a general tax levy.
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<br />Additional information on the City of Roseville's long-term debt can be found in Note 1-D and Note 4-H
<br />this report.
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<br />Item 8: Attachment D
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