2025 Budget for the City of Shakopee

108

2025 Annual Budget

Fund: G.O. Tax Increment Revenue Bonds, Series 2022A Issuance: $5,910,000 Maturity: February 1, 2041

Description of Services: The bond was issued for $10,000,000 and matures on February 01, 2041. $5,910,000 of the bond was issued to fund various public improvements including Highway 83 within the Tax Increment Financing District No. 18 (Canterbury Commons). $4,090,000 was issued for improvement projects related to 2020-2022 reconstructions projects, funded from the Capital Improvements Fund. The tax increment portion fully matures on February 1, 2041 and the improvement portion fully matures on February 1, 2033.

Debt Totals by Year:

1,600,000

1,400,000

1,200,000

1,000,000

800,000

600,000

400,000

200,000

-

2025 2026 2027 2028 2029 2030 2031 2032 2033 2037 2038 2039 2040 2041

Principal

Interest

Fund Transfer

Cash balance