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<br />IN
<br />Table 2
<br />ASSUMED DEBT BOND ISSUES
<br />Issuer
<br />Issue Date
<br />Amount
<br />Years
<br />Average
<br />Rate
<br />Minneapolis
<br />April 1, 1963
<br />$3,000,000
<br />25
<br />3.0%
<br />Minneapolis
<br />April 1, 1964
<br />5,000,000
<br />25.5
<br />3.2
<br />Minneapolis
<br />April 1,
<br />1965
<br />2,000,000
<br />25.5
<br />3.1
<br />Minneapolis
<br />Dec. 1,
<br />1965
<br />2,000,000
<br />25
<br />3.4
<br />Minneapolis.
<br />Dec. 1,
<br />1966
<br />3,500,000
<br />25
<br />3.6
<br />Minneapolis
<br />May 1, 1968
<br />1,500,000
<br />21
<br />4.0
<br />Minneapolis
<br />July 1,
<br />1969
<br />1,000,000
<br />21
<br />5.5
<br />Minneapolis
<br />July 1,
<br />1970
<br />4,000,000
<br />25
<br />6.7
<br />St. Paul
<br />Sept. 1,
<br />1959
<br />150,000
<br />30
<br />4.0
<br />St. Paul
<br />Oct. 1,
<br />1961
<br />296,000
<br />30
<br />3.4
<br />St. Paul
<br />Aug. _1,
<br />1962
<br />3,315,000
<br />30
<br />3.25
<br />St. Paul
<br />Oct. 1,
<br />1964
<br />2,500,000
<br />30
<br />3.3
<br />St. Paul
<br />Oct. 1,
<br />1965.
<br />2,500,000
<br />30
<br />3.4
<br />St. Paul
<br />July 1,
<br />1966
<br />2,300,000
<br />30
<br />3.9
<br />St. Paul
<br />Oct. 1,
<br />1967
<br />1,150, 000
<br />30
<br />4.2
<br />St. Paul
<br />Aug. 1,
<br />1968
<br />2,490,000
<br />30
<br />4.25
<br />St. Paul
<br />Nov. 1,
<br />1969
<br />1, 50.0, 000
<br />30
<br />6.3
<br />NSSSD
<br />July 1,
<br />1962
<br />450,000
<br />10
<br />3.8631
<br />NSSSD
<br />April 1,
<br />1964
<br />2,000,000
<br />29.5
<br />3.8546
<br />NSSSD
<br />Oct. 1,
<br />2,000,000
<br />30
<br />3.91491
<br />NSSSD
<br />June 1,
<br />1965
<br />2,500,000
<br />29.
<br />3.8878.
<br />NSSSD
<br />Feb. 1,
<br />1967
<br />875,000
<br />26
<br />4.44323
<br />NSSSD
<br />March 1,
<br />1968
<br />1,680,000
<br />30
<br />5.204
<br />Chanhassen
<br />Oct. 1,
<br />1969
<br />1,060,000
<br />29
<br />6.8464
<br />Deephaven
<br />Oct. 1,
<br />1968
<br />538,000
<br />30
<br />5.58718
<br />Deephaven
<br />July 1,
<br />1969
<br />890,000
<br />29.25
<br />6.431
<br />Eagle Creek
<br />Jan.. 1,
<br />1969
<br />382,000
<br />29.75
<br />5.587
<br />Eden Prairie
<br />April 1,
<br />1969
<br />875,000
<br />29.5
<br />6.15807
<br />Eden Prairie
<br />July 1,
<br />1969
<br />1
<br />29.25
<br />6.2884
<br />Minnetonka
<br />Oct. 1,
<br />1968
<br />4,035,000
<br />30
<br />4.8902
<br />Minnetonka
<br />July 1,
<br />1969
<br />5,970,000
<br />29.25
<br />6.809
<br />Prior Lake
<br />Oct. 1,
<br />1969
<br />180,000
<br />29
<br />6.99
<br />A composite debt service schedule was made of each govern -
<br />ment's applicable obligations. Each year the MWCC credits
<br />the amount to be paid by the city during that year to the
<br />city's estimated cost allocation for that.year (see the
<br />local government debt example in Appendix Table.6). The
<br />city is responsible for ultimately making the payment to the
<br />bond holders. Figure 5 illustrates the composite local
<br />government debt service annual payments.
<br />At December 31, 1970 there was $21.5 million in local govern-
<br />ment debt service outstanding owed to 62 cities and town-
<br />ships, allocated by service areas as shown in Table 3.
<br />Since that time, additional facilities have been acquired
<br />from nine cities that have $3.7 million in debt out -
<br />standing. At December 31, 1980 the MWCC owed $11.9 million
<br />to the local governments.
<br />
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