|
CITY OF RAMSEY
<br />Notes to Financial Statements (continued)
<br />December 31, 1998
<br />NOTE 4 -PROPERTY, PLANT, AND EQUIPMENT (CONTINUED)
<br />B. Changes in General Fixed Assets
<br />Land and land improvements
<br />Buildings and improvements
<br />Improvements other than buildings
<br />Office equipment
<br />Motor vehicles
<br />Machinery and equipment
<br />NOTE 5 -LONG-TERM DEBT
<br />A. Components of Long-Term Debt
<br />Balance Balance
<br />Beginning End
<br />of Year Additions Deletions of Year
<br />
<br />$ 396,597 $ - $ - $ 396,597
<br />2,092,518 21,756 63 2,114,211
<br />642,138 113,694 19,424 736,408
<br />463,861 88,061 281,840 270,082
<br />1,334,715 69,304 30,355. 1,373,664
<br />957.644 162.463 24.832 1,095,275
<br />
<br />$ 5,887,473 $ 455,278 $ 356,514 $ 5,986,237
<br />Debt service expenditures for the long-term portion of compensated absences are recorded in the General
<br />Fund and the Economic Development Authority Fund. All other long-term debt obligations are supported
<br />by ad valorem property taxes, tax increments, and special assessments and are accounted for in the Debt
<br />Service Funds.
<br />The long-term debt obligations outstanding at year-end are summarized as follows:
<br />General long-term debt
<br />Special Assessment Bonds
<br />Improvement Bonds, Series 1989A
<br />Improvement Bonds, Series 1992B
<br />Tax Increment Bonds
<br />G.O. Tax Increment Bonds, Series 1985
<br />G.O. Tax Increment Bonds, Series 1989B
<br />G.O. Tax Increment Bonds, Series 1989C
<br />G.O. Tax Increment Refunding Bonds,
<br />Series 1993A
<br />G.O. Tax Increment Bonds, Series 1995A
<br />G.O. Tax Increment Bonds, Series 1996A
<br />Total general obligation bonds
<br />Compensated absences payable
<br />Total general long-term debt
<br /> Final Balance
<br /> Original
<br />Issue Interest
<br />Rate Issue
<br />Date Maturity
<br />Date End of
<br />Year
<br />$ 530,000 5.80-6.40% 12-1-1989 2-1-2000 $ 30,000
<br />$ 620,000 3.50-5.25% 2-1-1992 2-I-2001 85,000
<br />$ 100,000 6.70-8.20% 12-31-1985 6-1-1999 15,000
<br />$ 235,000 5.80-6.30% 12-1-1989 2-1-1999 35,000
<br />$ 235,000 8.20-8.35% 12-1-1989 2-1-1999 35,000
<br />$ 2,225,000 3.10-4.60% 11-1-1993
<br />$ 2,600,000 4.50-5.65% 3-1-1995
<br />$ 330,000 5.70-6.25% 1-1-1996
<br />2-1-2007 1,890,000
<br />2-1-2010 2,320,000
<br />2-i-2007 2g5•Q4S~
<br />4,695,000
<br />195.313
<br />$ 4,890,313
<br />-22-
<br />
|