2023 City of Shakopee Budget

146

2023 Annual Budget

G.O. Tax Abatement Bonds, Series 2016A $ 29,500,000 February 1, 2036

Fund: Issuance: Maturity:

Establishment:

The bond was issued for $29,500,000 and matures on February 01, 2036. The bond was issued to fund the following construction projects: Community and Ice Arena Construction

Key Measures:

Actual

Actual

Projected

Projected

2020

2021

2022

2023

Principal Remaining Interest Remaining

$ $

26,215,000 7,423,035

$ $

25,010,000 6,526,828

$ $

23,745,000 5,692,372

$ $

22,415,000 4,902,841

Debt Levy

$ $ $

2,237,898

$ $ $

2,237,635

$ $ $

2,239,473

$ $ $

2,237,793

Cancelled Debt Levy

119,000

49,035

50,473

48,793

Staff Recommended Levy

2,118,898

2,188,600

2,189,000

2,189,000

Cash Balances

$

1,148,851

$

1,211,007

$

608,965

$

677,934

Debt Remaining

Yearly Totals

2,500,000

- 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 40,000,000

2,000,000

1,500,000

1,000,000

500,000

-

2020

2021

2022

2023

2020

2021

2022

2023

Interest

Principal

Principal

Interest

Staff Recommended Levy

Cash Balances