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City of Orono, Minnesota
<br />Notes to the Financial Statements
<br />December 31, 2024
<br />Note 3: Detailed Notes on All Funds (Continued)
<br />E. Long-term Debt
<br />General Obligation Improvement (G.O.) Bonds
<br />The bonds were issued to finance various improvements and will be repaid from taxes, special assessments, and pledged
<br />revenues.
<br />Annual debt service requirements to maturity for G.O. improvement bonds are as follows:
<br />Year Ending
<br />December 31, Principal Interest Total
<br />2025 615,000$ 387,275$ 1,002,275$
<br />2026 635,000 366,519 1,001,519
<br />2027 655,000 344,557 999,557
<br />2028 680,000 321,538 1,001,538
<br />2029 705,000 297,169 1,002,169
<br />2030-2034 2,395,000 1,222,920 3,617,920
<br />2035-2039 2,675,000 943,720 3,618,720
<br />2040-2044 2,945,000 665,920 3,610,920
<br />2045-2049 3,255,000 356,864 3,611,864
<br />2050-2051 1,400,000 44,724 1,444,724
<br />Total 15,960,000$ 4,951,206$ 20,911,206$
<br />Governmental Activities
<br />Year Ending
<br />December 31, Principal Interest Total
<br />2025 90,000$ 11,544$ 101,544$
<br />2026 90,000 9,350 99,350
<br />2027 95,000 6,919 101,919
<br />2028 95,000 4,306 99,306
<br />2029 100,000 1,500 101,500
<br />Total 470,000$ 33,619$ 503,619$
<br />Business-type Activities
<br />69 96
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