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I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />L <br />CITY OF ORONO, MINNESOTA <br />Future Property Tax Levies to Retire Bonds (1) <br />As of December 31, 1998 <br />Year <br />Collectible <br />1995 <br />Refunding <br />Bonds <br />1997 <br />Improvement <br />Bonds <br />1999 <br />2000 <br />2001 <br />2002 <br />2003 <br />2004 <br />2005 <br />2006 <br />2007 <br />2008 <br />2009 <br />2010 <br />2011 <br />2012 <br />$ 50,000 (2) <br />50,000 <br />7,000 <br />13,800 <br />20,300 <br />26,600 <br />32.500 <br />38.200 <br />43.500 <br />48.500 <br />58.200 <br />62,100 <br />70,900 <br />73,800 <br />$ 100,000 i 495.400 S 595.400 <br />Schedule 4 <br />Total <br />Levies (3) <br />50,000 <br />50,000 <br />7,000 <br />13.800 <br />20,300 <br />26,600 <br />32.500 <br />38,200 <br />43.500 <br />48.500 <br />58,200 <br />62,100 <br />70,900 <br />73.800 <br />(1) The levies for these issues are the general obligation property tax levies which are in addition to the <br />amounts levied in the special assessment rolls. Tax levies are placed (as required by law) at 105% of debt <br />service requirements. <br />(2) The City levied S50.000 for the 1995 Refunding Bonds due to the assessment appeals and subsequent <br />reductions of deferred assessments. The City established future taxes to generate sufficient sources to pay <br />future debt requirements as required by law. <br />(3) Additional debt sers ice levies are available for other general obligation debt issues on an as-needed basis <br />determined annually. <br />-93-