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Th� City'a bond ratinq on Decsmbar 31, 1991, is as lollova: <br />Koody's Standard <br />Znv�stor i <br />8�rvic• Poor's <br />City�s Bonds 71a-1 AA- <br />Public Improvem�nt bonda in th• aaonnt of $2,000,000 wora isaued <br />in 1991. No r�fundinqa or oth�r ind�bt�dneaa r•ro iaau�d in <br />1991. Ttt� Citp r�tired $1,245,000 of bonds, l�avinq an outatand- <br />inq ind�bt�dn�ss on D�comb�r 31, 1991 of $36,735,000. Followinq <br />is a tabulation of bonds iasu�d sinc� January 1, 1985 and still <br />outataading. <br />1►v�raq� N�t Iat�r�at Coat <br />Dat• o! Lit� In Int�rsat Por Borroved <br />sau� l,mo Yeara • Rate Dollar <br />3-1-91 $ 2,000,000 9.1? 6.03� .54 <br />4-2-90 $ 2�000,000 9.08 6.87% .61 <br />'3-1-89 $ 3�500�000 9.16 7.0�$ .62 <br />3-1-88 $ 4,500,000 9.50 6.56$ .61 <br />12-1-85 $ Y�225�000 13.75 8.06$ .84 <br />'12-1-85 14�300�000 13.75 8.06$ 1.14 <br />12-1-85 8�420�009 1�.43 8.09$ 1.15 <br />11-1-85 2�885�000 10.185 8.17$ .82 <br />Duzinq 1981, th� City Council adopt�d a resolution which providaa <br />,poli,cy quidelinea proc�dur�a, and application forms for <br />Industrial Rovanu� Financing as p�rmittad by Minnasota etatutos. <br />As of D�c�mber 31, 1991, th• following Iadustrial Revenua <br />Financing had b�en complotad: <br />1. $3,000,000 Commarcial Developmsnt Revenue Note of 1982 - <br />H�co, Inc. <br />2. '$5,000,000 Induatrial Development Revsnue Note of 1984 - <br />!►dvanc• Circuits, Znc. <br />3. $ 900,000 Commercial Dov�lopment Nots of 198� - <br />8salth Resourc�e, ino. <br />4. $9,500,000 Hoalth Caro Facility Rovenue Bonda of 1985 - <br />Pr�ebytarian Homoa of Xinnasota, Inc. <br />5. $3,750,000 Commorcial D�v�lopmont Rovsnua Not• of 1985 - <br />Oakcroat Dov�lopment Company <br /><6. $17,500,000 Rontal Housinq R�v�nu� Bonds of 1985 - <br />Rosepointe Houainq Limited Partnarnhip <br />7. $4,700,000 Snduetrial Dov�lopm�nt R�vsnu• Not• of 1985 - <br />B�rgor etoraqs and Tranalar <br />15 <br />