2018 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2018

NOTE 9 – CONDUIT DEBT OBLIGATIONS Conduit debt obligations are certain limited obligation revenue bonds or similar debt instruments issued for the express purpose of providing capital financing for a specific third party. The City has issued various revenue bonds to provide funding to private-sector entities for projects deemed to be in the public interest. Although these bonds bear the name of the City, the City has no obligation for such debt beyond the resources provided by related leases or loans. Accordingly, the bonds are not reported as liabilities in the financial statements of the City. As of December 31, 2018, the following conduit debt was outstanding:

Date of Issue

Original Amount of Issue

Balance Outstanding

Project

Scott County CDA Housing Development

04/26/12

5,885,000 $

$

4,730,000

2012A Refunding- North Ridge Court Redevelopment Scott County CDA Housing Development 2013A Refunding- River City Center Project Scott County CDA Housing Development 2013E Refunding- River City Center Project Benedictine Health SystemObligated Group Health Care and Housing Facilities Revenue Refunding Note Series 2013A Benedictine Health SystemObligated Group Health Care and Housing Facilities Revenue Refunding Note Series 2013B St. Francis Regional Medical Center Health Care Facilities Revenue Refunding Bond Series 2014 Benedictine Health SystemObligated Group

12/01/13

2,330,000

1,660,000

12/01/13

1,220,000

1,000,000

12/01/13

9,485,000

6,515,398

12/01/13

9,575,000

7,741,339

06/18/14

41,865,000

36,730,000

12/01/18

52,440,000

52,440,000

Senior Housing Revenue Bonds Series 2018

Total

110,816,737 $

72