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Annual_Report_1998_001
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. ;. <br />♦• • 1 :♦ u � <br />� u: ..• <br />♦• .��• 'n� �".� � �. <br />Long-Term Notes Payeble: <br />1995-1998 Energy Conservation Notes Payable of 5266,603, issuecl 12/8/95 uncl 10/1/98; 0�; peyeble in monthly <br />installments of $45.79 - S960.43 through December 31, 2005. <br />t 187.551 <br />Total gonclecl Generai Long-Term Debt ancl Long-Term Notes Payable <br />S37 547 551 <br />The City is subjecf to a Iegal deb[ limit base on a percentxge of estunutecl murket value in eccottlance with Minnesota ststutes. The <br />City's lagal debt marg�n es of December 31, 1998 was $37,362,281. Current city debt applicable to the debt limit as of December 31, <br />��.. 1998 is §0.00. <br />C,hynges Ln general long-term JeUt during 1995 are sumnwrizecl ns follows: <br />Accrued Vacation and <br />Severance Pay <br />Long Term Notes Payable <br />General Obligation <br />)mprovement Bonds <br />General ObGgation Tac <br />Incremeut Bouds <br />Geoeral 066gatioo Tax <br />Iocrement Refunding Bouds <br />Tofal <br />Bal'rnce <br />(�nu�arv„ 1. 1998 ASj�ttio� c <br />y 452,458 $ 40,145 <br />163,058 S 50,033 <br />21,110,000 <br />5,915,OC� <br />�.t ��� :� .�� <br />: � c. t t � <br />RedoMioac <br />a 25,540 <br />2,630,000 <br />315,W0 <br />16 200.000 <br />t 19.170.540 <br />Balance <br />-^ h�r31 199R <br />$ 492,603 <br />187,551 <br />18,480,000 <br />5,600,OG0 <br />13 280.00Q <br />t 38.040.154 <br />AccmeJ vxcation mcl severance pay ecW+tion is net of eny changes witlun the relatecl emptoyee becefit accouocs for the yaer. <br />The City reFunded 514,780,000 of general obligation improvemen[ boncls in 1998 encl obtained an economic gain (difference between <br />the present value of the debP service payments on the old encl new debt) of 5893,441. The debt service paymeats due to the refiwcling <br />were reclucacl in total by 51,024,977. <br />,- � �- �:. .�� -� ��':.� -- - <br />A. Plan Description <br />AII full-time acul certain pa*t-time employees of the City of Roseville are covered by defined benefit plens eclm�nisterecl by the Public <br />Employees Ratirement Association of Minnecota (PERA). PERA ad�nimsters Ihe Pub!ic Employees Retireman[ Fiuxl (PERF� e+Kl the <br />dl <br />
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