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Note 5. LONG -TERM OBLIGATIONS (Continued)
<br />D. Minimum Deht Payment.k
<br />Future minimum payments under the Purchase Agreement dated February 3, 1989,
<br />for the land mortgage are as follows:
<br />Year
<br />1992
<br />1993
<br />General obligation bond maturities are as follows:
<br />Year
<br />1992
<br />1993
<br />1994
<br />1995
<br />1996
<br />1997 -2007
<br />Note 6. TAX INCREMENT FINANCING DISTRICTS
<br />Type of district
<br />Chapter
<br />Ratablished
<br />Duration
<br />Ad lusted original
<br />tax capacity
<br />Current tax capacity
<br />Captured tax capacity
<br />Total G.O. Tax
<br />Increment
<br />Bonds issued
<br />Principal
<br />payments
<br />Outstanding
<br />at 12/31/91
<br />$
<br />CITY OF RAMSEY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1991
<br />Principal Interest Total
<br />11,598 $
<br />8,174
<br />19,772 $
<br />Principal
<br />$
<br />630,000 $
<br />430,000
<br />410, 000
<br />425, 000
<br />425, 000
<br />2,785,000
<br />$ 5,105,000 $
<br />TIP
<br />District
<br />No. 1
<br />Redevelop-
<br />ment
<br />472A
<br />8/27/85
<br />1985/2011
<br />$
<br />11,378
<br />$ 557.151
<br />$ 545.773
<br />-25-
<br />1,078 $ 12,676
<br />276 8,450
<br />1,354 $ 21,126
<br />Interest
<br />355,776 $
<br />315,110
<br />283,201
<br />252, 096
<br />220,262
<br />1,181,468
<br />2,607,913 $
<br />The City is the administering authority for the following tax increment
<br />financing districts within Development District Numbers I and II:
<br />Development
<br />TIF
<br />District
<br />No. 2
<br />Redevelop-
<br />ment
<br />472A
<br />6/30/86
<br />1986/2012
<br />District I:
<br />TIP
<br />District
<br />No. 4
<br />Redevelop-
<br />ment
<br />Total
<br />985,776
<br />745,110
<br />693,201
<br />677,096
<br />645,262
<br />3,966,468
<br />7,712,913
<br />TIP
<br />District
<br />No. 5
<br />Yconomie
<br />Develop-
<br />ment
<br />472A 469
<br />8/11/87 4/24/90
<br />1987/2013 1990/2000
<br />$ 156,516 $ 98,623 E 3,478 $
<br />$ 231.836 $ 174.980 $ 4.624 $
<br />Total
<br />269,995 $
<br />968.591 $
<br />Development
<br />District II:
<br />TIP District
<br />No. 3
<br />Rconomic
<br />Develop-
<br />ment
<br />472A
<br />5/12/87
<br />1987/1997
<br />3,451
<br />32. 668
<br />75.320 $ 76.357 $ 1.146 $ 698.596 $ 29.217
<br />$ 3,770,000 $ 160,000
<br />$ 170.000 5 30.000
<br />5 3. $ 130.000
<br />
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