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CITY OF ROSEVILLE. MtNNE50TA NOTES TD FINANCIAL STATEMENTS - (CONTINUED) DECEMBER 31.1990 Note 18 - Deferred Compensation Plan The City offers its employees a deferred compensation ptan established in accordance uith Internal Revenue Code Section 457. The ptan, available to all employees, permits them to defer a portion of their satary until future years. The deferred compensation is not available to employees untit termination, retirement, death or unforeseeable emergency�. ALl amounts of compensation deferred under the ptan, alL property and rights property purchased uith those amounts, and all income attributable to those amounts, or ri9hts are (until paid or made available to the employee or other beneficiary) solely the property and rights of the City, subject only to the cLaims of the City�s generaL creditors. Participants' rights under the plan are equal to those of the City in an amount equal to the fair market vatue of the deferred account for each participant. Plan asseis of 8814,699 at December 31, 1990 are shoun in the financial statement as a"Deposits uith Trustees" in the agency funds with a corresponding credit to deposfts payable. 1t is the opinion of the City's tegal counset that the City has no liabitity for losses under the plan but does have the duty of due care thai would be required of an ordinary prudent investor. The City betieves that it is wlikely that it uill use the assets m satisfy the claims ot general creditors in the future. Note 19 - Tax Increment The City of Rosevitle is the administering authority for the fottouing tax increment finance distri ct: Name of District: Municipat Develoqnent District Type of Distric[: Redevelopnent Authorizing Statue: 472A Year Estabtished: 1982 Duration of District: 25 Years Originat Gross Tax Capacity* 85,018,315 Total eonds Issued and Type Current Gross Tax Capacity: 89 447,847 Generel Obligation 822,720,000 Total Loans Incurred -0- Captured Gross Taz Capacity: 84,429,532 Retained by Authoriiy 84,429,532 Amounts redeemed � 7D0,000 Shared uith other iaxing Cutstanding bonds and loans at disiricts -0- 12/31/90 522,020,000 ' for disiricts uitn a base year of 1987 or earlier, the originai gross tax capacity replaces the original assessed value thai uas previously certified. Note 20 - �iilqaCiOn The City had the usuaL and customary types ot miswllaneous claims pending at year end, mostly of a minor nature, and usuatty atl covered by insurance carried for 2hat purpose or the City has rese�ved funds for sett t ement. . The City also carries personat injury insurance against suits for talse arrest, libel, slander, violaticn of privacy, urongtul enTry, etc., wnich suiis can arise from entorcement ot the city code and generai ��. Y laus. J4