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Bonds Annual Disclosure Report 2020MUNICIPAL SECONDARY MARKET DISCLOSURE ANNUAL REPORT This Annual Report is being filed with the Municipal Securities Rule Making Board through the Electronic Municipal Market Access ("EMMA") website pursuant to Securities and Exchange Commission Rule 15c2- 12(b)(5)(i)(C)and(D). Obligated Person: City of New Hope, Minnesota Issues Subject to Full Disclosure: Issue Identification Issue Date 6-Digit CUSIP No. $1,850,000 General Obligation Certificates of Indebtedness and Refunding Bonds, Series 2010B 11/23/2010 64544P $1,330,000 General Obligation Taxable Tax Increm ent Refunding Bonds, Series 2012B 1/11/2012 64544P $2,695,000 General Obligation Tax Increm ent Refunding Bonds, Series 2012A 1/11/2012 64544P $5,960,000 General Obligation Tax Increm ent Bonds, Series 2015A 6/17/2015 64544P $3,825,000 General Obligation Street Reconstruction Bonds, Series 2015B 12/30/2015 64544P $4,855,000 General Obligation Street Reconstruction Bonds, Series 2016A 12/29/2016 64544P $18,435,000 General Obligation Capital Improvement Plan Bonds, Series 2017A 12/28/2017 64544P $9,520,000 General Obligation Tax Abatement Bonds, Series 2018A 12/20/2018 64544P $5,235,000 General Obligation Tax Abatement Bonds, Series 2019A 7/18/2019 64544P $2,020,000 General Obligation Tax Abatement Bonds, Series 2021A 3/11/2021 64544P The Following Have Been Authorized by the Issuer to Distribute this Information Publicly: Dissemination Agent Contact Name/Title:Sara Beecher, Public Finance Manager Company:Ehlers & Associates, Inc. Address:N21 W23350 Ridgeview Parkway West, Suite 100 Waukesha, WI 53188 Phone:(262) 785-1520 Email Address:sbeecher@ehlers-inc.com This Annual Financial Information Report (this Annual Report) has been prepared and is being provided to the secondary market only in compliance with the contractual agreement of the Issuer, entered into in accordance with Rule 15c2-12 promulgated by the U.S. Securities and Exchange Commission, to update annually the following financial information and operating data which was provided in the Final Official Statement relating to the above noted obligations. The information provided in this Annual Report speaks only as of its date and is subject to change without notice. The delivery of this Annual Report may not under any circumstances, create an implication that there has been no other change to the information provided about the Issuer or otherwise in the Final Official Statement. The presentation of information in this Annual Report is intended to show recent historical information and is not intended to indicate future or continuing trends with respect to the Issuer. The Issuer has not agreed in any way to notify the secondary market of subsequent changes to the information in this Annual Report, other than an undertaking to provide notice of certain specific reportable events. City of New Hope, Minnesota Page 1 Municipal Secondary Market Disclosure Annual Report July 27, 2021 Type of Filing:online via: http://emma.msrb.org/ Fiscal Period Ending:12/31/2020 Issuer Filing Deadline:12/31/2021 Final Audited Financial Statements, on File with EMMA: Fiscal Year End: 12/31/2020 - Submitted on 5/26/2021 ANNUAL FINANCIAL INFORMATION REPORT UPDATE Reporting Requirements Current Property Valuations Trend of Valuations Direct Debt Tax Levies and Collections Tax Capacity Rates Population Trend Employment/Unemployment Data City of New Hope, Minnesota Page 2 Municipal Secondary Market Disclosure Annual Report July 27, 2021 CURRENT PROPERTY VALUATIONS 2020/21 Economic Market Value $2,374,216,474 1 2020/21 Assessor's Estimated Market Value 2020/21 Net Tax Capacity Real Estate $2,241,615,800 $27,035,066 Personal Property 15,400,300 303,741 Total Valuation $2,257,016,100 $27,338,807 Less:Captured Tax Increment Tax Capacity2 (1,565,751) Fiscal Disparities Contribution3 (3,317,874) Taxable Net Tax Capacity $22,455,182 Plus:Fiscal Disparities Distribution3 4,630,371 Adjusted Taxable Net Tax Capacity $27,085,553 1 According to the Minnesota Department of Revenue, the Assessor's Estimated Market Value (the "AEMV") for the City of New Hope is about 95.23% of the actual selling prices of property most recently sold in the City. The sales ratio was calculated by comparing the selling prices with the AEMV. Dividing the AEMV of real estate by the sales ratio and adding the AEMV of personal property and utility, railroads and minerals, if any, results in an Economic Market Value ("EMV") for the City of $2,374,216,474. 2 The captured tax increment value shown above represents the captured net tax capacity of tax increment financing districts in the City of New Hope. 3 Each community in the seven-county metropolitan area contributes 40% of the growth in its commercial- industrial property tax base since 1972 to an area pool which is then distributed among the municipalities on the basis of population, and fiscal capacity indicated market value as determined by the Minnesota Department of Revenue. Each governmental unit makes a contribution and receives a distribution--sometimes gaining and sometimes contributing net tax capacity for tax purposes. City of New Hope, Minnesota Page 3 Municipal Secondary Market Disclosure Annual Report July 27, 2021 TREND OF VALUATIONS Levy Year Assessor's Estimated Market Value Assessor's Taxable Market Value Net Tax Capacity4 Adjusted Taxable Net Tax Capacity5 Percent +/- in Estimated Market Value 2016/17 $1,792,927,900 $1,697,092,365 $21,403,803 $21,948,221 +9.53% 2017/18 1,921,182,700 1,831,436,951 22,781,828 23,074,453 +7.15% 2018/19 2,106,273,300 2,021,382,132 25,296,074 25,362,003 +9.63% 2019/20 2,260,053,900 2,180,558,494 27,383,824 27,129,905 +7.30% 2020/21 2,257,016,100 2,177,389,934 27,338,807 27,085,553 -0.13% Source:Current Property Valuations and Trend of Valuations have been furnished by Hennepin County. 4 Net Tax Capacity is before fiscal disparities adjustments and includes tax increment values. 5 Adjusted Taxable Net Tax Capacity is after fiscal disparities adjustments and does not include tax increment values. City of New Hope, Minnesota Page 4 Municipal Secondary Market Disclosure Annual Report July 27, 2021 DEBT DIRECT DEBT6 General Obligation Debt (see schedules following) Total G.O. debt secured by tax abatement revenues $16,045,000 Total G.O. debt secured by tax increment revenues 6,545,000 Total G.O. debt secured by taxes 23,370,000 Total G.O. debt secured by utility revenues 964,000 Total General Obligation Debt $46,924,000 6 Outstanding debt is as of May 27, 2021 City of New Hope, Minnesota Page 5 Municipal Secondary Market Disclosure Annual Report July 27, 2021 Ci t y   o f   N e w   H o p e ,   M i n n e s o t a Sc h e d u l e   o f   B o n d e d   I n d e b t e d n e s s Ge n e r a l   O b l i g a t i o n   D e b t   S e c u r e d   b y   T a x   A b a t e m e n t   R e v e n u e s (A s   o f   0 5 / 2 7 / 2 0 2 1 ) 33 2 0 8 7 3 3 6 5 1 7 3 3 3 4 1 7 3 3 8 9 4 2 3 3 9 4 3 7 3 4 8 8 0 4 Da t e d Am o u n t Ma t u r i t y Fi s c a l   Y e a r   En d i n g P r i n c i p a l I n t e r e s t P r i n c i p a l I n t e r e s t P r i n c i p a l I n t e r e s t T o t a l   Pr i n c i p a l T o t a l   I n t e r e s t T o t a l   P   &   I Principal Outstanding % PaidFiscal Year Ending 20 2 1 0 1 6 8 , 0 7 8 0 8 5 , 4 7 5 2 2 0 , 0 0 0 14 , 5 8 9 2 2 0 , 0 0 0 26 8 , 1 4 2 4 8 8 , 1 4 2 1 5 , 8 2 5 , 0 0 0 1.37%2021 20 2 2 49 0 , 0 0 0 32 3 , 9 0 6 27 5 , 0 0 0 16 5 , 4 5 0 24 5 , 0 0 0 18 , 0 0 0 1, 0 1 0 , 0 0 0 50 7 , 3 5 6 1, 5 1 7 , 3 5 6 14 , 8 1 5 , 0 0 0 7.67%2022 20 2 3 51 0 , 0 0 0 29 8 , 9 0 6 29 0 , 0 0 0 15 4 , 1 5 0 26 0 , 0 0 0 15 , 5 5 0 1, 0 6 0 , 0 0 0 46 8 , 6 0 6 1, 5 2 8 , 6 0 6 13 , 7 5 5 , 0 0 0 14.27%2023 20 2 4 54 0 , 0 0 0 27 5 , 3 5 6 30 0 , 0 0 0 14 2 , 3 5 0 27 0 , 0 0 0 12 , 9 5 0 1, 1 1 0 , 0 0 0 43 0 , 6 5 6 1, 5 4 0 , 6 5 6 12 , 6 4 5 , 0 0 0 21.19%202 4 20 2 5 56 0 , 0 0 0 25 0 , 5 5 6 31 0 , 0 0 0 13 0 , 1 5 0 28 5 , 0 0 0 10 , 2 5 0 1, 1 5 5 , 0 0 0 39 0 , 9 5 6 1, 5 4 5 , 9 5 6 11 , 4 9 0 , 0 0 0 28.39%2025 20 2 6 58 5 , 0 0 0 22 1 , 9 3 1 3 2 5 , 0 0 0 11 7 , 4 5 0 29 5 , 0 0 0 7, 4 0 0 1, 2 0 5 , 0 0 0 34 6 , 7 8 1 1 , 5 5 1 , 7 8 1 10 , 2 8 5 , 0 0 0 35.90%2026 20 2 7 61 5 , 0 0 0 19 1 , 9 3 1 3 3 5 , 0 0 0 10 4 , 2 5 0 31 0 , 0 0 0 4, 4 5 0 1, 2 6 0 , 0 0 0 30 0 , 6 3 1 1 , 5 6 0 , 6 3 1 9,025,00 0 43.75%2027 20 2 8 64 5 , 0 0 0 16 6 , 8 8 1 3 5 0 , 0 0 0 90 , 5 5 0 13 5 , 0 0 0 1, 3 5 0 1, 1 3 0 , 0 0 0 25 8 , 7 8 1 1 , 3 8 8 , 7 8 1 7,895,00 0 50.79%2028 20 2 9 66 5 , 0 0 0 14 7 , 2 3 1 3 6 5 , 0 0 0 78 , 0 7 5 1 , 0 3 0 , 0 0 0 22 5 , 3 0 6 1, 2 5 5 , 3 0 6 6,865,00 0 57.21%2029 20 3 0 68 5 , 0 0 0 12 6 , 9 8 1 3 7 5 , 0 0 0 66 , 9 7 5 1 , 0 6 0 , 0 0 0 19 3 , 9 5 6 1, 2 5 3 , 9 5 6 5,805,00 0 63.82%2030 20 3 1 70 5 , 0 0 0 10 6 , 1 3 1 3 8 5 , 0 0 0 55 , 5 7 5 1 , 0 9 0 , 0 0 0 16 1 , 7 0 6 1, 2 5 1 , 7 0 6 4,715,00 0 70.61%2031 20 3 2 73 0 , 0 0 0 84 , 6 0 6 39 5 , 0 0 0 43 , 8 7 5 1 , 1 2 5 , 0 0 0 12 8 , 4 8 1 1 , 2 5 3 , 4 8 1 3,590,00 0 77.63%2032 20 3 3 75 0 , 0 0 0 61 , 9 3 8 41 0 , 0 0 0 31 , 8 0 0 1, 1 6 0 , 0 0 0 93 , 7 3 8 1, 2 5 3 , 7 3 8 2,430,00 0 84.86%2033 20 3 4 77 5 , 0 0 0 38 , 1 0 9 4 2 0 , 0 0 0 19 , 3 5 0 1, 1 9 5 , 0 0 0 57 , 4 5 9 1 , 2 5 2 , 4 5 9 1,235,00 0 92.30%203 4 20 3 5 80 0 , 0 0 0 13 , 0 0 0 43 5 , 0 0 0 6, 5 2 5 1 , 2 3 5 , 0 0 0 19 , 5 2 5 1 , 2 5 4 , 5 2 5 0 100.00 %2035 9, 0 5 5 , 0 0 0 2, 4 7 5 , 5 4 4 4, 9 7 0 , 0 0 0 1, 2 9 2 , 0 0 0 2, 0 2 0 , 0 0 0 84 , 5 3 9 1 6 , 0 4 5 , 0 0 0 3, 8 5 2 , 0 8 3 19 , 8 9 7 , 0 8 3 Ta x   A b a t e m e n t   B o n d s   Se r i e s   2 0 2 1 A 03 / 1 1 / 2 0 2 1 $2 , 0 2 0 , 0 0 0 12 / 0 1 Ta x   A b a t e m e n t   B o n d s Se r i e s   2 0 1 9 A 07 / 1 8 / 2 0 1 9 $5 , 2 3 5 , 0 0 0 02 / 0 1 Ta x   A b a t e m e n t   B o n d s Se r i e s   2 0 1 8 A 12 / 2 0 / 2 0 1 8 $9 , 5 2 0 , 0 0 0 02 / 0 1 Ci t y   o f   N e w   H o p e ,   M i n n e s o t a Sc h e d u l e   o f   B o n d e d   I n d e b t e d n e s s Ge n e r a l   O b l i g a t i o n   D e b t   S e c u r e d   b y   T a x   I n c r e m e n t   R e v e n u e s (A s   o f   0 5 / 2 7 / 2 0 2 1 ) 38 0 8 1 3 8 0 8 1 3 8 0 8 2 3 8 0 8 2 3 2 7 9 6 1 3 2 8 9 8 7 Da t e d Am o u n t Ma t u r i t y Fi s c a l   Y e a r   En d i n g P r i n c i p a l I n t e r e s t P r i n c i p a l I n t e r e s t P r i n c i p a l I n t e r e s t T o t a l   Pr i n c i p a l T o t a l   I n t e r e s t T o t a l   P   &   I Principal Outstanding % PaidFiscal Year Ending 20 2 1 0 1 1 , 7 6 1 0 1 8 , 8 5 5 0 5 7 , 6 6 0 0 8 8 , 2 7 6 88 , 2 7 6 6,545,00 0 .00%2021 20 2 2 25 5 , 0 0 0 20 , 9 7 3 7 5 , 0 0 0 36 , 5 8 5 3 7 0 , 0 0 0 11 1 , 6 2 0 70 0 , 0 0 0 16 9 , 1 7 8 86 9 , 1 7 8 5,845,00 0 10.70%2022 20 2 3 26 0 , 0 0 0 15 , 6 2 8 85 , 0 0 0 33 , 9 7 3 3 7 5 , 0 0 0 10 4 , 1 7 0 72 0 , 0 0 0 15 3 , 7 7 0 87 3 , 7 7 0 5,125,00 0 21.70%2023 20 2 4 26 5 , 0 0 0 9, 7 8 5 9 0 , 0 0 0 30 , 9 1 0 38 5 , 0 0 0 96 , 5 7 0 74 0 , 0 0 0 13 7 , 2 6 5 8 7 7 , 2 6 5 4 , 3 8 5 , 0 0 0 33.00%202 4 20 2 5 27 5 , 0 0 0 3, 3 6 9 9 5 , 0 0 0 27 , 5 0 6 39 0 , 0 0 0 88 , 7 2 3 7 6 0 , 0 0 0 11 9 , 5 9 8 87 9 , 5 9 8 3,625,00 0 44.61%2025 20 2 6 95 , 0 0 0 23 , 8 4 9 4 0 0 , 0 0 0 79 , 7 2 5 4 9 5 , 0 0 0 10 3 , 5 7 4 59 8 , 5 7 4 3,130,00 0 52.18%2026 20 2 7 10 5 , 0 0 0 19 , 8 9 4 41 0 , 0 0 0 69 , 6 0 0 51 5 , 0 0 0 89 , 4 9 4 60 4 , 4 9 4 2,615,00 0 60.05%2027 20 2 8 10 0 , 0 0 0 15 , 6 4 3 4 2 0 , 0 0 0 58 , 7 0 0 52 0 , 0 0 0 74 , 3 4 3 5 9 4 , 3 4 3 2 , 0 9 5 , 0 0 0 67.99%2028 20 2 9 10 0 , 0 0 0 11 , 2 9 3 4 3 0 , 0 0 0 47 , 0 1 3 5 3 0 , 0 0 0 58 , 3 0 5 5 8 8 , 3 0 5 1 , 5 6 5 , 0 0 0 76.09%2029 20 3 0 10 0 , 0 0 0 6, 7 4 3 4 4 5 , 0 0 0 34 , 4 2 5 5 4 5 , 0 0 0 41 , 1 6 8 58 6 , 1 6 8 1,020,00 0 84.42%2030 20 3 1 95 , 0 0 0 2, 2 0 9 4 5 5 , 0 0 0 20 , 9 2 5 5 5 0 , 0 0 0 23 , 1 3 4 57 3 , 1 3 4 470,00 0 92.82%2031 20 3 2 47 0 , 0 0 0 7, 0 5 0 47 0 , 0 0 0 7, 0 5 0 47 7 , 0 5 0 0 100.00 %2032 1, 0 5 5 , 0 0 0 61 , 5 1 5 9 4 0 , 0 0 0 22 7 , 4 5 8 4, 5 5 0 , 0 0 0 77 6 , 1 8 0 6, 5 4 5 , 0 0 0 1, 0 6 5 , 1 5 3 7, 6 1 0 , 1 5 3 Ta x   I n c r e m e n t   B o n d s Se r i e s   2 0 1 5 A 06 / 1 7 / 2 0 1 5 $5 , 9 6 0 , 0 0 0 02 / 0 1 Ta x a b l e   T a x   I n c r e m e n t   R e f u n d i n g   Bo n d s Se r i e s   2 0 1 2 B 01 / 1 1 / 2 0 1 2 $1 , 3 3 0 , 0 0 0 02 / 0 1 Ta x   I n c r e m e n t   R e f u n d i n g   B o n d s Se r i e s   2 0 1 2 A 01 / 1 1 / 2 0 1 2 $2 , 6 9 5 , 0 0 0 02 / 0 1 Ci t y   o f   N e w   H o p e ,   M i n n e s o t a Sc h e d u l e   o f   B o n d e d   I n d e b t e d n e s s Ge n e r a l   O b l i g a t i o n   D e b t   S e c u r e d   b y   T a x e s (A s   o f   0 5 / 2 7 / 2 0 2 1 ) 32 8 2 4 4 32 9 5 5 4 32 9 3 0 2 3 3 1 5 3 3 3 3 0 9 7 1 3 3 3 6 9 6 Da t e d Am o u n t Ma t u r i t y Fi s c a l   Y e a r   En d i n g P r i n c i p a l I n t e r e s t P r i n c i p a l I n t e r e s t P r i n c i p a l I n t e r e s t T o t a l   Pr i n c i p a l T o t a l   I n t e r e s t T o t a l   P   &   I Principal Outstanding % PaidFiscal Year Ending 20 2 1 0 3 7 , 6 9 4 0 6 0 , 7 5 0 0 3 2 4 , 6 5 0 0 4 2 3 , 0 9 4 42 3 , 0 9 4 23 , 3 7 0 , 0 0 0 .00%2021 20 2 2 24 5 , 0 0 0 71 , 7 1 3 2 8 5 , 0 0 0 11 7 , 2 2 5 9 7 5 , 0 0 0 62 4 , 9 2 5 1 , 5 0 5 , 0 0 0 81 3 , 8 6 3 2 , 3 1 8 , 8 6 3 21 , 8 6 5 , 0 0 0 6.44%2022 20 2 3 25 0 , 0 0 0 64 , 2 8 8 29 5 , 0 0 0 10 8 , 5 2 5 1 , 0 2 5 , 0 0 0 57 4 , 9 2 5 1 , 5 7 0 , 0 0 0 74 7 , 7 3 8 2, 3 1 7 , 7 3 8 20 , 2 9 5 , 0 0 0 13.16%2023 20 2 4 26 0 , 0 0 0 56 , 6 3 8 30 5 , 0 0 0 99 , 5 2 5 1 , 0 7 5 , 0 0 0 52 2 , 4 2 5 1 , 6 4 0 , 0 0 0 67 8 , 5 8 8 2, 3 1 8 , 5 8 8 18 , 6 5 5 , 0 0 0 20.18%202 4 20 2 5 26 5 , 0 0 0 49 , 7 5 6 31 0 , 0 0 0 90 , 3 0 0 1, 1 3 0 , 0 0 0 47 8 , 6 0 0 1, 7 0 5 , 0 0 0 61 8 , 6 5 6 2, 3 2 3 , 6 5 6 16 , 9 5 0 , 0 0 0 27.47%2025 20 2 6 27 0 , 0 0 0 43 , 7 3 8 32 0 , 0 0 0 80 , 8 5 0 1, 1 6 5 , 0 0 0 43 2 , 5 2 5 1 , 7 5 5 , 0 0 0 55 7 , 1 1 3 2 , 3 1 2 , 1 1 3 15 , 1 9 5 , 0 0 0 34.98%2026 20 2 7 27 5 , 0 0 0 37 , 2 6 3 3 3 0 , 0 0 0 71 , 1 0 0 1, 2 2 5 , 0 0 0 37 2 , 7 7 5 1 , 8 3 0 , 0 0 0 48 1 , 1 3 8 2, 3 1 1 , 1 3 8 13 , 3 6 5 , 0 0 0 42.81%2027 20 2 8 28 5 , 0 0 0 30 , 2 6 3 3 4 0 , 0 0 0 61 , 0 5 0 1, 2 8 5 , 0 0 0 32 2 , 8 7 5 1 , 9 1 0 , 0 0 0 41 4 , 1 8 8 2, 3 2 4 , 1 8 8 11 , 4 5 5 , 0 0 0 50.98%2028 20 2 9 29 0 , 0 0 0 22 , 3 5 0 35 0 , 0 0 0 50 , 7 0 0 1, 3 2 5 , 0 0 0 28 3 , 7 2 5 1 , 9 6 5 , 0 0 0 35 6 , 7 7 5 2 , 3 2 1 , 7 7 5 9,490,00 0 59.39%2029 20 3 0 29 5 , 0 0 0 13 , 5 7 5 3 6 0 , 0 0 0 40 , 0 5 0 1, 3 6 5 , 0 0 0 23 6 , 5 5 0 2, 0 2 0 , 0 0 0 29 0 , 1 7 5 2 , 3 1 0 , 1 7 5 7,470,00 0 68.04%2030 20 3 1 30 5 , 0 0 0 4, 5 7 5 3 7 5 , 0 0 0 29 , 0 2 5 1 , 4 2 0 , 0 0 0 18 0 , 8 5 0 2, 1 0 0 , 0 0 0 21 4 , 4 5 0 2, 3 1 4 , 4 5 0 5,370,00 0 77.02%2031 20 3 2 38 5 , 0 0 0 17 , 6 2 5 1 , 4 7 5 , 0 0 0 12 2 , 9 5 0 1, 8 6 0 , 0 0 0 14 0 , 5 7 5 2 , 0 0 0 , 5 7 5 3,510,00 0 84.98%2032 20 3 3 39 5 , 0 0 0 5, 9 2 5 1 , 5 3 5 , 0 0 0 70 , 4 2 5 1 , 9 3 0 , 0 0 0 76 , 3 5 0 2, 0 0 6 , 3 5 0 1,580,00 0 93.24%2033 20 3 4 1, 5 8 0 , 0 0 0 23 , 7 0 0 1, 5 8 0 , 0 0 0 23 , 7 0 0 1, 6 0 3 , 7 0 0 0 100.00 %203 4 2, 7 4 0 , 0 0 0 43 1 , 8 5 0 4, 0 5 0 , 0 0 0 83 2 , 6 5 0 16 , 5 8 0 , 0 0 0 4, 5 7 1 , 9 0 0 23 , 3 7 0 , 0 0 0 5, 8 3 6 , 4 0 0 29 , 2 0 6 , 4 0 0 Ca p i t a l   I m p r o v e m e n t   P l a n   B o n d s Se r i e s   2 0 1 7 A 12 / 2 8 / 2 0 1 7 $1 8 , 4 3 5 , 0 0 0 02 / 0 1 St r e e t   R e c o n s t r u c t i o n   B o n d s Se r i e s   2 0 1 6 A 12 / 2 9 / 2 0 1 6 $4 , 8 5 5 , 0 0 0 02 / 0 1 St r e e t   R e c o n s t r u c t i o n   B o n d s Se r i e s   2 0 1 5 B 12 / 3 0 / 2 0 1 5 $3 , 8 2 5 , 0 0 0 02 / 0 1 Ci t y   o f   N e w   H o p e ,   M i n n e s o t a Sc h e d u l e   o f   B o n d e d   I n d e b t e d n e s s Ge n e r a l   O b l i g a t i o n   D e b t   S e c u r e d   b y   U t i l i t y   R e v e n u e s (A s   o f   0 5 / 2 7 / 2 0 2 1 ) 33 3 6 0 6 33 9 0 3 8 3 6 6 7 3 3 6 6 7 3 3 3 3 6 0 7 3 3 9 0 3 9 Da t e d Am o u n t Ma t u r i t y Fi s c a l   Y e a r   En d i n g P r i n c i p a l I n t e r e s t P r i n c i p a l I n t e r e s t P r i n c i p a l I n t e r e s t T o t a l   Pr i n c i p a l T o t a l   I n t e r e s t T o t a l   P   &   I Principal Outstanding % PaidFiscal Year Ending 20 2 1 22 , 0 0 0 1, 7 9 7 0 9 7 5 5 4 , 0 0 0 3, 4 4 0 76 , 0 0 0 6, 2 1 2 8 2 , 2 1 2 8 8 8 , 0 0 0 7.88%2021 20 2 2 22 , 0 0 0 3, 2 1 9 6 5 , 0 0 0 97 5 5 5 , 0 0 0 6, 3 4 0 14 2 , 0 0 0 10 , 5 3 4 15 2 , 5 3 4 746,00 0 22.61%2022 20 2 3 23 , 0 0 0 2, 8 4 4 55 , 0 0 0 5, 7 9 0 78 , 0 0 0 8, 6 3 4 86 , 6 3 4 668,00 0 30.71%2023 20 2 4 23 , 0 0 0 2, 4 5 2 5 6 , 0 0 0 5, 2 4 0 79 , 0 0 0 7, 6 9 2 8 6 , 6 9 2 5 8 9 , 0 0 0 38.90%202 4 20 2 5 23 , 0 0 0 2, 0 6 1 5 6 , 0 0 0 4, 6 8 0 79 , 0 0 0 6, 7 4 1 8 5 , 7 4 1 5 1 0 , 0 0 0 47.10%2025 20 2 6 24 , 0 0 0 1, 6 6 9 5 7 , 0 0 0 4, 1 2 0 81 , 0 0 0 5, 7 8 9 8 6 , 7 8 9 4 2 9 , 0 0 0 55.50%2026 20 2 7 24 , 0 0 0 1, 2 6 0 58 , 0 0 0 3, 5 5 0 82 , 0 0 0 4, 8 1 0 86 , 8 1 0 347,00 0 64.00%2027 20 2 8 25 , 0 0 0 85 2 5 8 , 0 0 0 2, 9 7 0 83 , 0 0 0 3, 8 2 2 8 6 , 8 2 2 2 6 4 , 0 0 0 72.61%2028 20 2 9 25 , 0 0 0 42 6 5 9 , 0 0 0 2, 3 9 0 84 , 0 0 0 2, 8 1 6 8 6 , 8 1 6 180,00 0 81.33%2029 20 3 0 59 , 0 0 0 1, 8 0 0 59 , 0 0 0 1, 8 0 0 60 , 8 0 0 121,00 0 87.45%2030 20 3 1 60 , 0 0 0 1, 2 1 0 60 , 0 0 0 1, 2 1 0 61 , 2 1 0 61,00 0 93.67%2031 20 3 2 61 , 0 0 0 61 0 6 1 , 0 0 0 61 0 6 1 , 6 1 0 0 100.00 %2032 21 1 , 0 0 0 16 , 5 7 9 6 5 , 0 0 0 1, 9 5 0 68 8 , 0 0 0 42 , 1 4 0 96 4 , 0 0 0 60 , 6 6 9 1 , 0 2 4 , 6 6 9 1) T h i s   r e p r e s e n t s   t h e   $ 6 0 5 , 0 0 0   S e r i e s   2 0 0 2 A   R e f u n d i n g   p o r t i o n   o f  t h e   $ 1 , 8 5 0 , 0 0 0   G e n e r a l   O b l i g a t i o n   C e r t i f i c a t e s   o f   I n d e b t e d n e s s  a n d   R e f u n d i n g   B o n d s ,   S e r i e s   2 0 1 0 B Dr i n k i n g   W a t e r   R e v e n u e   N o t e Se r i e s   2 0 1 3 05 / 1 3 / 2 0 1 3 $1 , 0 3 5 , 0 0 0 08 / 2 0 Re f u n d i n g   B o n d s   1 ) Se r i e s   2 0 1 0 B 11 / 2 3 / 2 0 1 0 $6 0 5 , 0 0 0 02 / 0 1 Wa t e r   B o n d Se r i e s   2 0 1 0 03 / 2 2 / 2 0 1 0 $4 1 8 , 6 4 4 08 / 2 0 TAX RATES, LEVIES AND COLLECTIONS TAX LEVIES AND COLLECTIONS Tax Year Net Tax Levy7 Total Collected Following Year Collected to Date8 % Collected 2016/17 $11,920,080 $11,894,553 $11,914,221 99.95% 2017/18 12,893,610 12,833,435 12,883,545 99.92% 2018/19 15,253,488 15,172,310 15,216,974 99.76% 2019/20 16,797,376 16,662,434 16,662,434 99.20% 2020/21 17,354,693 In process of collection Property taxes are collected in two installments in Minnesota--the first by May 15 and the second by October 15.9 Mobile home taxes are collectible in full by August 31. Minnesota Statutes require that levies (taxes and special assessments) for debt service be at least 105% of the actual debt service requirem ents to allow for delinquencies. The spread of COVID-19 and responses taken by the United States government, state governments, local governments and private industries have caused significant disruptions to the national and State economy. Certain states have announced extended deadlines for payment of property taxes, although as of this date Minnesota has not taken such measures. The City cannot predict whether and how much payment of property taxes will be impacted. Any delays or reduction in the receipt of property taxes may materially adversely impact the City's finances and payment of debt obligations. 7 This reflects the Final Levy Certification of the City after all adjustments have been made. 8 Collections are through January 1, 2021. 9 Second half tax payments on agricultural property are due on November 15th of each year. City of New Hope, Minnesota Page 10 Municipal Secondary Market Disclosure Annual Report July 27, 2021 TAX CAPACITY RATES10 2016/17 2017/18 2018/19 2019/20 2020/21 Hennepin County 44.087%42.808%41.861%41.084%38.210% City of New Hope 59.931%58.589%67.990%66.089%63.940% I.S.D. No. 281 (Robbinsdale Area Schools)31.612%31.957%29.909%26.477%25.529% Metro Mosquito 0.475%0.456%0.427%0.412%0.381% Metropolitan Council 0.883%0.844%0.659%0.616%0.631% Metro Transit 1.463%1.383%1.456%1.433%1.256% Three Rivers Park District 3.365%3.161%2.961%2.859%2.793% Park Museum 0.711%0.710%0.705%0.710%0.707% Hennepin County Railroad Authority 1.925%1.962%1.807%1.388%1.323% Hennepin HRA 0.497%0.457%0.535%0.801%0.722% Referendum Market Value Rates: I.S.D. No. 281 (Robbinsdale Area Schools)0.24959%0.23433%0.26683%0.25032%0.24121% Source: Tax Levies and Collections and Tax Capacity Rates have been furnished by Hennepin County. LEVY LIMITS The State Legislature has periodically imposed limitations on the ability of municipalities to levy property taxes. For taxes levied in 2013, payable in 2014, only, the Legislature imposed a one year levy limit on all counties with a population greater than 5,000, and all cities with a population greater than 2,500. While these limitations have expired, the potential exists for future legislation to limit the ability of local governments to levy property taxes. All previous limitations have not limited the ability to levy for the payment of debt service on bonded indebtedness. For more detailed information about Minnesota levy limits, contact the Minnesota Department of Revenue or Ehlers and Associates. 10 After reduction for state aids. Does not include the statewide general property tax against commercial/industrial, non-homestead resorts and seasonal recreational residential property. City of New Hope, Minnesota Page 11 Municipal Secondary Market Disclosure Annual Report July 27, 2021 U.S. CENSUS DATA Population Trend: The City 2000 U.S. Census population 20,873 2010 U.S. Census population 20,339 2019 State Demographer's Estimate 22,376 Percent of Change 2000 - 2010 -2.56% Source:2000 and 2010 Census of Population and Housing EMPLOYMENT/UNEMPLOYMENT DATA Rates are not compiled for individual communities within counties. Average Employment Average Unemployment Year Hennepin County Hennepin County State of Minnesota 2017 677,696 3.0%3.4% 2018 685,853 2.5%3.0% 2019 691,497 2.8%3.2% 2020 662,530 6.2%6.2% 2021, April 665,252 4.2%4.1% Source: Minnesota Department of Employment and Economic Development . City of New Hope, Minnesota Page 12 Municipal Secondary Market Disclosure Annual Report July 27, 2021