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2015 CAFR
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2015 CAFR
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CITY OF ROSEVILLE, MINNESOTA <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />For Year Ended December 31, 2015 <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 />$31,245,000. <br />In September, 2015 the City issued $3.06 million in general obligation tax increment revenue bonds to <br />finance certain capital and administration costs for public improvements within Tax Increment Financing <br />District No. 17. In addition, the City also has long-term liabilities in the amount of $1,644,556 for <br />compensated absences, $1,007,221 for the net obligation for OPEB and $12,764,872 for the PERA <br />pension liability. <br />OUTSTANDING DEBT GENERAL OBLIGATION IMPROVEMENT BONDS <br />AND CERTIFICATES OF INDEBTEDNESS <br />General obligation <br />Tax ]ncrement Revenue Bonds <br />Municipal bonds <br />Certificates of <br />Indebtedness <br />Total Outstanding Debt <br />Govemmental Governmental Business-Type Business-Type <br />Activities Activities Activities Activities Total <br />2015 2074 2015 2014 2014 <br />$ 3,060,000 $ - $ - $ - $ 3,060,000 $ <br />27,240,000 29,540,000 - - 27,240,000 <br />Total <br />2013 <br />29,540,000 <br />945,000 1,240,000 - - 945,000 1,240,000 <br />$ 31,245,000 $ 30,780,000 $ - $ - $ 31,245,000 $ 30,780,000 <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°/o of total <br />Estimated Market Value. The current debt limitation for the City of Roseville is $121,016,193. <br />$28,185,000 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 />
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