2025 Budget for the City of Shakopee

110

2025 Annual Budget

Fund: G.O. Improvement Bonds, Series 2022A Issuance: $4,090,000 Maturity: February 1, 2033

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:

500,000

400,000

300,000

200,000

100,000

-

2025

2026

2027

2028

2029

2030

2031

2032

2033

Principal

Interest

Staff Recommended Levy

Cash balance