Annual_Report_1994_001 - Laserfiche WebLink

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CITY OP ROSBVILL6 NOT%S TO FZNAItCIAL STAT6MHNTS DHCBMHHR 31, 1994 Note 1"1 - Tax Inctement The City of Roeeville ie the adminiet<zing authority £or Che £ollowing tax increment finance diatrict. Name of Dietrict: Municipal Oevelopment Dietritt Type of Diettict: Redevelopment Authotizing Statue: 4'I2A Yeaz eetabliehed: 1982 Duration of Dintxict: 25 Yeare Original Groae Tax Capacity $"/,392,59� Total Bonde Ieeved and 1}+pe Cursent Gzoee Tax Capacity: $12,063,193 Gerteral ObligaCion $24,945,000 Total Loane IncuYsad '�' Captured Net Tax Capacity: Retained by Authority Shared with other tazing dietricte $4,836,220 $4,836.220 -0- Amounte zedeemed Outatanding bonde and loane at 12/31/94 $ 4,910,000 $20,035,000 In addition to the bonded indebtedneee o£ the dietrict, the City hae entered into a long tesm o67igation under a"pay-ae- you-go" development agrecment in vhich certain obligatione are to be paid to [he developer (owner) ae eertain performance criteria have been fulfilled. The eetimated total outetanding obligation under thie development agreement wi[h Mr. Geozge Reiling (Owner) ae of December 31, 1994 ie $4,235,050. Note 18 - Indvetrial Revenue Sonde The City hae appmved eleven induetrial revenue or housing revenue bond iesues eince 1982. Such bonda aze ieeued in the City'e name. However, no current or £uture liability exiete for the City under curzent Seate and Pederal Statutee. As of Decembex 31, 1994, $68.3 million of euch bonde were outetanding. Note 19 - Reclaeei£icatlorte Iv 1994, it wae determined that the Iee Azena and Sohn Roee Mi�eeota Oval Funde were to become part of the Recreation special revenue £vnd. Thie detezmination wae in accozdance with the reozganizaeion o£ City'e reczeational progzame. As a reault certain adjuetmente have been made to 1993 compaxative data 6ntezprise Fund equity ae of January 1, 1994 Fund ealance as of Janvary 1, 1994 Adjustmente due to eetabliehing the Ice Rrena and John Rose Oval Punde ae part of the Reczeation apecial revenue funde Sanuaxy 1, 1994 ae reetated Note 20 - Litiaation Bntexpriee Punde $32,401�681 (S 3,309,301) 529.092,330 Special Revenue punde $ 909,000 f51 '/90,043) $ (081.043) The City had the usual and cuatomary typee of miecellaneove claime pending at year end, moetly o£ a minor nature, and usually all covered by ineurance carried £or that purpoee or the City hae reeerved £unde foz eettlement. The City aleo carriee pereonal injury ineuzance againet evite £or falae arreet, libel, elander, violation of privacy, wrongful entry, etc., which evite can ariee fmm en£ozcement of the city code and general lawe. 46