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'■‘fflh■-t <br />i^llt <br />m <br />m <br />w- <br />i^' <br />ii*'’ <br />m <br />W^ <br />CITY OF ORONO. MINNESOTA <br />Notes to Financial Statements (continued) <br />December 31. 1991 <br />NOTE 5 • DEFERRED CREDITS AND REVENUE (CONTINUED) <br />D. 1989 Special Assessments <br />Tlie City adopted special assessment rolls in 1989 which included $8,I3S relating to improvements on <br />CRy*owned property. The General Fund will pay these assessments over five years in annual installments <br />wi^ 1% interest, lie remaining assessment principal balance of $4,484 at December 31. 1991 has been <br />recorded u due to/from other funds. The related revenue and charges have been deferred in the <br />Permanent Improvement Revolving Capital Project and General Funds, respectively. <br />E. Developer Advinccs <br />In 1989, the City began construction of sewer and water improvements along State Highway 12 but has <br />not finalized the amounts tc be specially assessed against benefitted properties. A new residential <br />develt^ment within the project irea was charged a preliminary amount for the improvements. This <br />amount has been deferred in the Vl-.^ter and Sewer (Operating Funds, respectively, net of a 1990 levy on <br />a pMtion of the projects. <br />NOTE i • LONG-TERM DEBT <br />A. Compmicnts of Long-Term Debt <br />On g mil <br />Issue <br />Interest <br />Rate <br />Issue <br />Date <br />Final <br />Maturity <br />Dale <br />Oeoend Long-Term DeN <br />GtmenU Obligation Bonds <br />ImprovMieni Bonds <br />of 1910 <br />Inprovemoit Bondi <br />of 1912 <br />InprovMMOt Bonds <br />of 1985 <br />Public Fecilittet Revenue <br />Bonds of 1991 <br />Vacation and aeverance <br />banefita payaUa <br />To^ Omeral <br />Long-Tcm Or hi <br />Balance <br />End of <br />. Jf-gL, <br />$ <br />$ <br />$ <br />$ <br />1.100.000 <br />475.000 <br />900.000 <br />4.000.000 <br />N A <br />7 10-8.75« <br />6 50-10.00* <br />5.50-8.25* <br />4 50-6 50* <br />N A <br />12-01-80 <br />12-01-82 <br />7-01-85 <br />12-01-91 <br />N A <br />3-01-96 <br />3-01-99 <br />1-01-01 <br />2-01-08 <br />N'A <br />375.000 <br />125.000 <br />• I •Mi l l <br />106.017 <br />5.206.017 <br />Emafpriae Fuad DdH <br />0.0. Water and Sewer <br />Ravone Bonds of 1989 $ 2.J00.(XXi 6 10-6 60 * 9-16-89 2-01-02 zjomt <br />Total Long-Tenn Dctu I 7.306.017 <br />-39 <br />I <br />%