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CITY OF ROSEVILLE, MINNESOTA <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />For Year Ended December 31, 2014 <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 />$30,780,000. <br />In March, 2013 the City issued $3.98 million in general obligation refunding bonds to refinance the debt <br />originally issued to construct an expansion of City Hall. In addition, the City also has long-term liabilities <br />in the amount of $1,656,934 for compensated absences and $886,012 for the net obligation for OPEB. <br />OUTSTANDING DEBT GENERAL OBLIGATION IMPROVEMENT BONDS <br />AND CERTIFICATES OF INDEBTEDNESS <br />General obligation <br />improvement bonds <br />General obligation <br />Municipal bonds <br />Certificates of <br />Indebtedness <br />Total Outstanding Debt <br />Governmental Governmental Business-Type Business-Type <br />Activities Activities Activit�ies Activities Total <br />2014 2013 2014 2013 2014 <br />$ - $ 225,000 $ - $ - $ <br />29,540,000 35,385,000 <br />Total <br />2013 <br />- $ 225,000 <br />29,540,000 35,385,000 <br />1,240,000 1,525,000 - - 1,240,000 1,525,000 <br />$ 30,780,000 $ 37,135,000 $ - $ - $ 30,780,000 $ 37,135,000 <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 $114,422,484. <br />$29,875,000 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 />