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Note 5.
<br />CITY OF RAMSEY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31,1996
<br />LONG-TERM OBLIGATIONS (continued)
<br />C. changes in Long-Term Debt
<br />Balance
<br />1/1/96 Addirions
<br />General Obligation-
<br />Tax increment bonds $ 7,770,000 $ 330,000 $
<br />Special assessment bonds 390,000 -
<br />Compensated absences -net 163,770 28,982
<br />2,785,000 $
<br />175,000
<br />Balance
<br />12/31 /96
<br />5,315,000
<br />215,000
<br />$ 8,323,770 $ 358,982 $ 2,960,000 $ 5,722,752
<br />D. Minimum Debt Pa}~nents
<br />General obligation bond maturities are as follows:
<br />Year Principal Interest Total
<br />1997 420,000 260,708 680,708
<br />1998 415,000 240,582 655,582
<br />1999 430,000 220,089 650,089
<br />2000 360,000 201,569 561,569
<br />2001 355,000 185,594 540,594
<br />2002-2010 3,550,000 757,223 4,307,223
<br />$ 5,530,000 $ 1,865,765 $ 7,395,765
<br />-21-
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