Laserfiche WebLink
<br /> CITY OF RAMSEY, MINNESOTA <br />' <br /> NOTES TO FINANCIAL STATEMENTS <br /> December 31,1996 <br /> <br /> Note 6. TAX INCREMENT FINANCING DISTRICTS <br /> The City is the administering authority for the following tax increment financing districts wi thin Development <br /> District Numbers I and II: <br /> <br />Development District I: Development <br />District II: <br /> TIF TIF TIF TIF TIF <br /> District District District District District <br />' No. 1 No• 2 No. 4 N~,..~ ~4TAL Tom. ~ <br /> Redevelop- Redevelop- Redevelop- Economic Economic <br />' Type of District ment ment ment Development Development <br /> Chapter 472A 472A 472A 469 472A <br /> Established 8/27/85 6/30/86 8/11/87 4/24/90 <br />Duration 1985/2001 1986/2012 1987/2013 1990/2000 5/12/87 <br />1987/1997 <br /> Adjusted Original <br />' Tax Capacity $ 19,589 $ 88,737 $ 84,896 $ 8,971 $ 202,193 $ 9,430 <br /> Current Tax <br /> Capacity 617,422 296,082 2 4 4 298,401 1 44 31,166 <br /> Captured Tax <br /> Capacity $597.833 207 4 14 4 2 4 X1,244,172 217 <br /> Total G.O. Tax <br /> Increment Bonds $ 7,720,000 $ 50,000 <br /> Principal Payments 2,420,000 25,000 <br /> Outstanding at <br /> December 31, 1996 $ 5.290,000 $ 25,000 <br /> Tax Increment District #6, which was established in 1996, will not begin collecting increments until 1997. <br /> Bonds issued and outstanding as of December 31, 1996: <br /> Total <br /> Development District I: <br /> General Obligation - <br />' Tax increment bonds of 1985 $ 35,000 <br /> Tax increment bonds of 1989B 95,000 <br /> Tax increment bonds of 1989C 100,000 <br />Tax increment refunding bonds of 1993A 2,225,000 <br /> Tax increment bonds of 1995A 2,505,000 <br /> Tax increment bonds of 1996A 330,000 <br /> $ 5,290,000 <br /> Development District II: <br /> General Obligation - <br /> Tax increment bonds of 1987C $ 25,000 <br />' 25,000 <br /> Total Tax Increment Bonds Outstanding $ 5,315,000 <br />-22- <br />