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NOTE 4 – CAPITAL ASSETS (CONTINUED)
<br />C.Depreciation Expense by Function
<br />Governmental activities
<br />General government882,966$
<br />Public safety280,692
<br />Highways and streets 1,324,953
<br />Culture and recreation 408,194
<br />Total depreciation expense – governmental activities2,896,805$
<br />Business-type activities
<br />Water Utility 627,124$
<br />Sewer Utility 451,823
<br />Street Light Utility147,843
<br />Storm Water Utility 234,559
<br />Total depreciation expense – business-type activities1,461,349$
<br />NOTE 5 – LONG-TERM DEBT
<br />A.Components of Long-Term Debt
<br />FinalBalance –
<br />Original IssueInterest RateIssue DateMaturity DateEnd of Year
<br />Governmental activities
<br />Bonds payable
<br />General Obligation Tax Increment Bonds
<br />Series 2012B7,320,000$ 1.00–3.00%6/5/20126/1/20247,320,000$
<br />General Obligation Capital Improvement
<br /> Capital Improvement Refunding Bonds,
<br />Series 2004A1,480,000$ 1.80–4.00%11/1/20042/1/2017390,000
<br />General Obligation Improvement Bonds
<br />Series 2009A1,340,000$ .85–4.50%3/1/20074/1/2019690,000
<br />Series 2011A4,365,000$ 2.00–3.15%9/7/20112/1/20323,880,000
<br />Series 2011B3,090,000$ 2.00–2.70%12/29/201112/15/20253,090,000
<br />Series 2012A16,875,000$ 3.00–3.75%6/7/201212/15/203115,245,000
<br />Total general obligation improvement bonds 22,905,000
<br />Total bonds payable 30,615,000
<br />Capital Equipment Certificates
<br />Capital Equipment Certificates of Indebtedness,
<br />Series 2013A635,000$ .50-3.00%9/5/20139/1/2023575,000
<br />Series 2014A875,000$ .60-2.35%12/3/201412/15/2024875,000
<br />Total capital equipment certificates 1,450,000
<br />Compensated absences payable 772,779
<br />OPEB 404,555
<br />Total governmental activities debt $ 33,242,334
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