|
CITY OF ROSEVILGE. MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS (CONTINUED)
<br />DECEMBER 31. 1986
<br />Note 7- Fixed Assets/Propertv and Eauioment (Continued)
<br />A summary of Enterprise Fund property and eqvipment on December 31, 1986 was as
<br />follows:
<br />Sanitary Ice Storm
<br />Sewer Water Golf Arena Draina4e
<br />Land 5300,483 5 307,296 S 1,098,639
<br />Building and
<br />stcuctures i 307,983 5 886,270 80,832 522,655
<br />Furniture,equipment
<br />vehicies 145,953 702,464 51,953 908,560 11,000,266
<br />DSstribution system 7.592.109 6,997,009
<br />56,045,095 510,535,793 5433,268 51,038,511 512,098,900
<br />Total
<br />S 1,506,913
<br />1.797,240
<br />12,308,696
<br />16,539,118
<br />532,151,967
<br />Less accumulated
<br />depreciation 2.42�,118 2,686,316 82.968 369.322 1.773,846 7.336,570
<br />55.61�.927 5 7.897.427 S350,300 5 679.189 510,325,054 529.819,897
<br />Note 8 - Lona-Term Debt
<br />The City has £ive types of bonded debt outstanding at December 31, 1986. They are:
<br />(1) General Obligation Improvements (Special Assessment) Bonds, (2) Ge�eral
<br />Obligation 8onds, (3) General Obligation Revenue Bonds, (4) General Obligatlon State
<br />Ald Hlghway Bonds, and (5) Generai Obligation Tax Increment Bonds.
<br />The ficst type of bonds is payable solely from general property taxes. The second
<br />type is payable primarlly from general property taxes and special assessments. The
<br />third type is payable from revenues in the golf course and ice arena operating funds
<br />and from general property taxes. The fourth type Ss payable from state aid revenues.
<br />The fifth type is payable from tax increments.
<br />There are a n�mber of limitations and restrictlons contalned in the various bond
<br />indentures. Trie City is in compliance with all significant limitations and
<br />restrictions. Ail bonded debt is backed by the full faith and credit of the City,
<br />8onded debt outstanding as of. December 31, 1986, including interest payments of
<br />532,737,767 on bonds carrying net Snterest rates of 9.07% to 8.91X Ss as follows:
<br />General
<br />Obligation General
<br />Improvement Obllgation General
<br />(Special General General State Aid Obllgation
<br />Year Ending Assessment) Obligation Obligation Highway Tax Increment
<br />December 31 Bonds Bonds Revenue Bonds Bonds Bonds Total
<br />1987 5 2,020,176 5 72,947 5 99,999 S 167,608 5 1,783,621 5 9,088,651
<br />1988 2,059,316 70,090 27,994 235,507 1,880,621 4,273,528
<br />1989 1,962,065 72,025 26,800 290,927 1,971,921 4,273,258
<br />1990 1,786,860 66,750 25,600 290,728 2,152.421 9,274,359
<br />1991-1995 6,877,073 293,000 1,248,375 11,862,558 20,281,006
<br />1996-2000 3,577,014 1,315,222 12,430,776 17,323,012
<br />2001-2005 956,850 541,700 12,850,778 13,899,328
<br />2006 2.529.925 2 529.925
<br />Total 518.739 379 5576,812 5129.893 53.990,067 597.456,621 570 687.767
<br />35-
<br />
|