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CITY OF ROSEVILLE, MINNESOTA <br /> NOTES TO FINANCIAL STATEMENTS <br /> December 31, 2016 <br /> <br /> <br /> <br /> <br />over a 9-year period. During the year ended December 31, 2016, the City generated $212,304 <br />of tax increment revenue and made payments on the pay-as-you-go note of $169,843. The <br />note's balance at year-end was $450,852. <br /> <br />G. Leases <br /> <br />The City leases office facilities and copiers under noncancelable operating leases. Total costs <br />for such leases were $99,200 for the year ended December 31, 2016. The future minimum <br />lease payments for these leases are as follows: <br /> <br />Year Ending Dec. 31 Amount <br />2017 14,302 <br />2018 3,708 <br />2019 3,708 <br />2020 3,708 <br />2021 3,708 <br />2022 927 <br />Total 30,061$ <br />H. Long-term debt <br /> <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 /> <br />General obligation bonds and certificates of indebtedness are direct obligations and pledge the <br />full faith and credit of the government. The original amount of general obligation bonds <br />and certificates of indebtedness for the issues listed below is $36,430,000 <br /> <br /> General obligation debt currently outstanding is as follows: <br /> <br /> <br />Net Interest <br />Purpose Rates Amount <br />Governmental activities .85% - 5.6% 28,585,000$ <br /> <br />58 <br />Item 8: Attachment D