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NOTE 5 — LONG-TERM DEBT (CONTINUED)
<br />C. Changes in Long -Term Debt
<br />D. Minimum Debt Payments
<br />Minimum annual principal and interest payments required to retire bonds and capital equipment certificates
<br />are as follows:
<br />Governmental Activities
<br />Bonded and Capital Equipment Certificate Debt
<br />Year Ending
<br />Beginning
<br />December 31,
<br />Balance—
<br />Due Within
<br />2015
<br />of Year
<br />Additions
<br />Deletions
<br />End of Year
<br />One Year
<br />G.O. Taxlncrement Bonds $
<br />7,620,000
<br />$ —
<br />$ 300,000
<br />$ 7,320,000
<br />$ 175,000
<br />G.O. Capital Improvement Bonds
<br />515,000
<br />—
<br />125,000
<br />390,000
<br />125,000
<br />G.O. Improvement Bonds
<br />26,895,000
<br />—
<br />3,990,000
<br />22,905,000
<br />1,195,000
<br />Capital Equipment Certificates
<br />635,000
<br />875,000
<br />60,000
<br />1,450,000
<br />140,000
<br />Compensated absences payable
<br />819,833
<br />466,519
<br />513,573
<br />772,779
<br />502,306
<br />OPEB
<br />347,007
<br />62,922
<br />5,374
<br />404,555
<br />—
<br />$
<br />36,831,840
<br />$ 1,404,441
<br />$ 4,993,947
<br />$ 33,242,334
<br />$ 2,137,306
<br />D. Minimum Debt Payments
<br />Minimum annual principal and interest payments required to retire bonds and capital equipment certificates
<br />are as follows:
<br />Governmental Activities
<br />Bonded and Capital Equipment Certificate Debt
<br />Year Ending
<br />December 31,
<br />Principal
<br />Interest
<br />2015
<br />1,635,000
<br />891,190
<br />2016
<br />2,365,000
<br />847,848
<br />2017
<br />2,410,000
<br />791,827
<br />2018
<br />2,340,000
<br />732,920
<br />2019
<br />2,420,000
<br />671,025
<br />2020-2024
<br />11,955,000
<br />2,350,130
<br />2025-2029
<br />6,190,000
<br />1,020,193
<br />2030-2032
<br />2,750,000
<br />141,650
<br />$ 32,065,000
<br />$ 7,446,783
<br />E. Revenue Pledged
<br />Future revenue pledged for the payment of long-term debt is as follows:
<br />Revenue Pledged
<br />Percent of
<br />Use of Total
<br />Bond Issue Proceeds Type Debt Service
<br />Tax increment bonds Street & Building Tax increment 100%
<br />improvements financing
<br />Series 2012B
<br />Page 78
<br />Remaining
<br />Term of Principal
<br />Pledge and Interest
<br />Current Year
<br />Principal Pledged
<br />and Interest Revenue
<br />Paid Received
<br />2012-2024 $ 8,302,140 $ 155,415
<br />$ 285,421
<br />
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