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CITY OP ROSBVILLH
<br />NOTHS SO PINANCIAL STASBMHNTS
<br />DHCHMBBR 31. 1994
<br />N t 0- Lona-Tezm Debt (Continued)
<br />General Obligaeion Zmpmvement
<br />(Special Aseeaement) Bonds:
<br />51,9'/5,000 Genesal Zmprovement Re£unding Seziee of 1993 due in annual inetallmenCa
<br />oE 5190,Ooo - 5260,o00 thxough March 1, 2oo2; true intereet cost 4.SOk $ 1,'/BS,o00
<br />$8,640,000 General Zmpmvement [iefvnding Seriee of 1994 due in annual inetallmente
<br />of $325,Oao -$S,13o,000 Chrough March 1, 2006; true intereat coet 4.21} fl,640,00o
<br />$2.200,000 Geneial Impsovement Setiee #18 0£ 1992 due in annual inetallmente
<br />of $100,000 - 5215,000 through March 1, 200]; tive inter<et coet 5.94} 1,995,000
<br />52�300,000 General Impiovement 9eriee #19 of 1993 due in dRnual inetallmenta
<br />of a130,0�0 -$100,U00 through Mateh 1. 2005; true intereet eoet 5.164 2,190,009
<br />$2,900.000 General Impsovement Seriee #20 of 1994 due in annual inetallmente
<br />of $145,000 -$265,000 through March 1, 2009; Crue intereet cost 4.59} 52,900,000
<br />Total General Obligation (Spetial Aaeeeemen[) Honde 51'/.510,000
<br />General obligation improvement bonde are paid by the General Improvement eond Pund.
<br />General obligation Bonde:
<br />$BSo,000 City Hall Sonds of 19]5 due in azuival ineeallmente of
<br />$40,00� - 550.000 through May 1, 1995; tzue intereet eoet 6.544 5 50,000
<br />General Obligation Bonde are paid from the City Hall eond Fund.
<br />Tax Inczement Bonde:
<br />f20,035,OD0 Tax Increment Refunding 8onda Seriee 1992 due in atu�val
<br />installmente of $1,215,000 -$2,250,Ooo thmugh Pebruaxy 1, 2006;
<br />net interest S.BSSb 520 035,000
<br />Tax Increment eonde are paid £rom the Tax Inctement eond Pund.
<br />Total General Long Texm Debt Sonde 53"/,595,000
<br />2he City is eubjeeC to a legal debt limit based on a percentage of eetimated market value in
<br />accozdance with Minx�eeota Statutee. The City'e legal debt maxgin ae of December 31, 1994 wae
<br />$33,226,944.
<br />Changes in general long teem debt during 1994 are eummarized ae followe:
<br />Balance Balante
<br />Januasy 1, December 31,
<br />1994 Additione Retized 1999
<br />Acczved Vacation and
<br />Severance Pay $ 432,SB3 $ 55,108 $ 3'1'1,9'IS
<br />General obligation Bonde 100,000 50,000 50,000
<br />ceneral obligation
<br />Improvement Sonde 16,360,00� 11.540,000 10,390,000 1'/,510,000
<br />Ge�eral Obligation
<br />Ta�c Increment Bonda
<br />General Obligation
<br />Tax Increment Re£unding
<br />eonde
<br />General 061igation state
<br />Pad Highway Bonde
<br />Total
<br />850,000
<br />20,035,000
<br />izs,000
<br />5 3],902,583
<br />5 13.540,000
<br />39
<br />850,000 -o-
<br />20,035,000
<br />izs.aoo -o-
<br />5 11,4]0,308 53] 9"12 4'IS
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