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Date of
<br />Issue
<br />12-1-85
<br />12-1-85
<br />12-1-85
<br />11-1-85
<br />6-1-$3
<br />9-1-80
<br />11-1-77
<br />5-1-75
<br />5-1-75
<br />5-1-72
<br />5-1-72
<br />7-1-71
<br />Amount
<br />5 2,225,000
<br />14,300,000
<br />8,420,000
<br />2,885,000
<br />5,125,000
<br />2,415,000
<br />1,600,000
<br />1,130,000
<br />850,000
<br />1,495,000
<br />2,040,000
<br />2,950,000
<br />Average
<br />Life In
<br />Years
<br />13.75
<br />13.75
<br />14.43
<br />10.185
<br />8.171
<br />11.055
<br />11.075
<br />11,079
<br />11.505
<br />10,530
<br />11.290
<br />10,661
<br />Net
<br />Interest
<br />Rate
<br />8.06%
<br />8.06 a
<br />8 , 09%
<br />8.17e
<br />8 .41 0
<br />7.63%
<br />5.03 0
<br />6.50%
<br />6.54%
<br />5 .09 0
<br />5.14%
<br />5.740
<br />Interest Cost
<br />Per Borrowed
<br />Dollar
<br />.84
<br />1.14
<br />1.15
<br />.82
<br />.69
<br />.84
<br />.56
<br />.72
<br />.75
<br />.54
<br />.58
<br />.61
<br />During 1981, the City Council adopted a resolution which provides
<br />policy guidelines procedures, and application forms for
<br />Industrial Revenue Financing as permitted by Minnesota Statutes.
<br />As of December 31, 1986, the following Industrial Revenue
<br />Financing had been completed:
<br />1
<br />2
<br />3
<br />4
<br />5
<br />6
<br />7
<br />53,000,000 Commercial Development Revenue Note of 1982 -
<br />Heco, Inc.
<br />55,000,000 Industrial Development Revenue Note of 1984 -
<br />Advance Circuits, Inc.
<br />S 900,000 Commercial Development Note of 1984 -
<br />Health Resources, Inc.
<br />59,500,000 Health Care Facility Revenue Bonds of 1985 -
<br />Presbvterian Homes of Minnesota, Inc.
<br />53,750,000 Commercial Development Revenue Note of 1985 -
<br />Oakcrest Development Company
<br />517,500,000 Rental Housing Revenue Bonds of 1985 -
<br />Rosepointe Housing Limited Partnership
<br />54,700,000 Industrial Development Revenue Note o£ 1985 -
<br />Berger Storage and Transfer
<br />Cash Manac7ement
<br />Al1 temporary cash surpluse, during the year are invested in
<br />various securities which State Statutes permit. Investment
<br />yields ranged from 5.25°ro to 8.00o during the year. The 1986
<br />earnings were distributed to the following fund types:
<br />-6-
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