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CITY OF ROSEVILLE, MINNESOTA <br />NOTES TO FINANClAL STATEMENTS <br />December 31, 2015 <br />F. Leases <br />The City leases office facilities and copiers under noncancelable operating leases. Total costs for <br />such leases were $97,346 for the year ended December 31, 2015. The future minimum lease <br />payments for these leases are as follows: <br />Year Ending Dec. 31 <br />2016 <br />2017 <br />Total <br />G. Long-term debt <br />Amount <br />99,200 <br />10,688 <br />$ 207,234 <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 $36,430,000 <br />General obligation debt currently outstanding is as follows: <br />Net Interest <br />Purpose Rates <br />Governmental activities .85% - 5.6% <br />59 <br />Amount <br />$ 31,245,000 <br />