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NOTE 5 — LONG -TERM DEBT (CONTINUED)
<br />D. Minimum Debt Payments
<br />Minimum annual principal and interest payments required to retire bonds and certificates of indebtedness
<br />are as follows:
<br />Governmental Activities
<br />Bonded Debt Capital Equipment Certificates
<br />Year Ending
<br />December 31, Principal Interest Principal Interest
<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 1,350,000 790,695
<br />2016 -2020 6,965,000 3,080,650
<br />2021 -2025 7,360,000 1,624,685
<br />2026 -2027 2,885,000 192,060
<br />$ 24,695,000 $ 9,463,694 $ 335,000 $ 12,658
<br />NOTE 6 — FUND BALANCE RESERVES AND DESIGNATIONS
<br />At December 31, 2010, the City had the following reservations and designations of fund balances in its
<br />Governmental Funds:
<br />General Fund
<br />Reserved for prepaid items $ 14,115
<br />Designated for working capital 4,404,152
<br />Designated for budget carryover 899,281
<br />Designated for compensated absences 742,211
<br />Tax Increment Special Revenue Fund
<br />Designated for Tax Increment purposes 7,903,067
<br />Housing Redevelopment Authority Special Revenue Fund
<br />Reserved for land held for resale 12,615,626
<br />Reserved for prepaid items 46,674
<br />Landfill Capital Project Fund
<br />Reserved for advances to other funds 243,980
<br />Public Improvement Revolving Ramsey Town Center Capital Project Fund
<br />Designated for capital projects 6,548
<br />Nonmajor Governmental Funds
<br />Special Revenue Funds
<br />Designated for special purpose 2,827,633
<br />Debt Service Funds
<br />Designated for debt service 2,524,951
<br />Capital Project Funds
<br />Designated for Mississippi Storm Drain District 43,976
<br />Designated for capital projects 2,537,064
<br />Reserved Designated
<br />$ 12,920,395 $ 21,888,883
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