2021 Annual Comprehensive Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2021

NOTE 22 – SUBSEQUENT EVENT On April 19, 2022, the City issued $10,000,000 General Obligation Bonds, Series 2022A. The bonds were issued to finance various street improvements in the city and public improvements located in Canterbury Commons TIF District #17. The bonds will be repaid from a combination of tax increment revenues, special assessments and debt service levy. The interest rates range of 3%, with the final maturity on February 1, 2041.

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