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<br />NOTE 5 - LONG-TERM DEBT (CONTINUED)
<br />
<br />D. Minimum Debt Payments
<br />
<br />Minimum annual principal and interest payments required to retire bonds and certificates of indebtedness
<br />are as follows:
<br />
<br /> Governmental Activities
<br /> Bonded Debt Capital Equipment CertifIcates
<br />Year Ending
<br />December 31, Principal Interest Principal Interest
<br />2010 $ 1,875,000 $ 1,101,076 $ 360,000 $ 23,562
<br />2011 1,645,000 1,033,508 165,000 9,469
<br />2012 1,415,000 969,469 170,000 3,188
<br />2013 1,460,000 916,515
<br />2014 1,615,000 856,111
<br />2015-2019 6,985,000 3,370,168
<br />2020-2024 7,055,000 1,928,125
<br />2025-2027 4,520,000 389,798
<br /> $ 26,570,000 $ 10,564,770 $ 695,000 $ 36,219
<br />
<br />NOTE 6 - FUND BALANCE RESERVES AND DESIGNATIONS
<br />
<br />At December 31, 2009, the City had the following reservations and designations of fund balances in its
<br />Governmental Funds:
<br /> Reserved Des ignated
<br />General Fund
<br />Reserved for prepaid items $ 6,794 $
<br />Designated for working capital 4,169,179
<br />Designated for budget canyover 1,280,532
<br />Designated for compensated absences 726,607
<br />Tax Increment Special Revenue Fund
<br />Designated for Ramsey Town Center infrastructure 6,648,999
<br />Housing Redevelopment Authority Special Revenue Fund
<br />Reserved for advances to other funds 12,615,626
<br />landfIll Capital Project Fund
<br />Reserved for advances to other funds 282,494
<br />Public Improvement Revolving Ramsey Town Center Capital Project Fund
<br />Designated for capital projects 476,941
<br />RTC Streets cape Capital Project Fund
<br />Designated for capital projects 31,983
<br />Nonmajor Governmental Funds
<br />Special Revenue Funds
<br />Designated for special purpose 3,241,106
<br />Debt Service Funds
<br />Designated for debt service 2,344,463
<br />Capital Project Funds
<br />Reserved for Mississippi Storm Drain District 2,549
<br />Designated for capital projects 4,178,102
<br /> $ 12,904,914 $ 23,100,461
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