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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 />Year Ending
<br />December 31, Principal
<br />
<br />Imemst
<br />
<br />2006 $ 1,630,000 $ 1,877,755
<br />2007 !,532,000 1,295,941
<br />2008 1,705,000 1,250,048
<br />2009 2,650,000 1,175,714
<br />2010 1,855,000 1,076,239
<br />2011-2015 6,975,000 4,430,880
<br />2016-2020 6,405,000 3,031,413
<br />2021-2025 7,360,000 1,624,685
<br />2026-2027 2,885,000 192,060
<br />
<br />$ 32,997,000 $ 15,954,735
<br />
<br />NOTE 6 - FUND BALANCE RESERVES AND DESIGNATIONS
<br />
<br />At December 31, 2005, the City had the following reservations and designations of fund balances in its
<br />Governmental Funds:
<br /> Reserved Designated
<br />
<br />General Fund
<br /> Reserved for prepaid items
<br /> Designated for working capital
<br /> Designated for budget carryover
<br /> Designated for compensated absences
<br />Tax Increment Special Revenue Fund
<br /> Designated for Ramsey Town Center infrastructure
<br />Landfill Capital Project Fund
<br /> Reserved for advances to other funds
<br /> Reserved for future debt service
<br />Public Improvement Revolving Capital Project Fund
<br /> Reserved for capital projects
<br /> Designated for street maintenance
<br />Municipal Center Capital Project Fund
<br /> Reserved for capital projects
<br />Nonmajor Governmental Funds
<br /> Special Revenue Funds
<br /> Reserved for park shelter
<br /> Designated for employee salary chargeback
<br /> Debt Service Funds
<br /> Designated for debt service
<br /> Capital Project Funds
<br /> Designated for capital projects
<br />
<br />5,039 $ -
<br />- 4,168,844
<br />- 113,000
<br />- 463,608
<br />
<br /> 428,959
<br /> 206,041
<br />
<br />5,4O7,223
<br />
<br />9,618,369
<br />
<br />185,000
<br />
<br />2,821,199
<br />
<br />275,000
<br />
<br /> 44,965
<br />2,184,019
<br />3,484,043
<br />
<br />$15,850,631 $13,554,678
<br />
<br />
<br />
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