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CITY OF RAMSEY
<br />Notes to Financial Statements (continued)
<br />December 31, 1999
<br />NOTE 5 -LONG-TERM DEBT (CONTINUED)
<br />The long-term debt obligations outstanding at year-end are summarized as follows:
<br />General long-term debt
<br />General Obligation Bonds
<br />Special Assessment Bonds
<br />Improvement Bonds,
<br />Series 1989A
<br />Improvement Bonds,
<br />Series 1992B
<br />Tax Increment Bonds
<br />Tax Increment Refunding
<br />Bonds, Series 1993A
<br />Tax Increment Bonds,
<br />Series 1995A
<br />Tax Increment Refunding
<br />Bonds, Series 1996A
<br />Tax Increment Bonds,
<br />Series 1999A
<br />Lease Revenue Bonds
<br />Public Facility Lease
<br />Revenue Bonds, EDA
<br />Series 1999A
<br />Total bonds payable
<br />Compensated absences payable
<br />Final Balance
<br />Original Interest Issue Maturity End of
<br />Issue Rate Date Date Year
<br />$ 530,000 5.80-6.40% 12-1-1989 2-1-2000 $ 15,000
<br />$ 620,000 3.50-5.25% 2-1-1992 2-1-2001 55,000
<br />$ 2,225,000 3.10-4.60% 11-1-1993 2-1-2007 1,715,000
<br />$ 2,600,000 4.50-5.65% 3-1-1995 2-1-2010 2,220,000
<br />$ 330,000 5.70-6.25% 1-1-1996 2-1-2007 260,000
<br />$ 1,195,000 4.00-4.50% 1-1-1999 1-1-2013 1,195,000
<br />$ 1,665,000 4.30-5.80% 12-1-1999 2-1-2019 1,665.000
<br />7,125,000
<br />212,445
<br />Total general long-term debt
<br />B. Statement of Changes in General Long-Term Debt
<br />General obligation bonds
<br />$ 7,337,445
<br />Balance
<br />Beginning New Debt Debt Balance
<br />of Year Issues Retired End of Year
<br />Special Assessment Bonds $ 115,000 $ - $ 45,000 $ 70,000
<br />Tax Increment Bonds 4,580,000 1,195,000 385,000 5,390,000
<br />Lease Revenue Bonds - 1,665,000 - 1,665,000
<br />Compensated absences -net 195.313 17.132 - 212.445
<br />$ 4,890,313 $ 2,877,132 $ 430,000 $ 7,337,445
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