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! <br />! <br /> <br />Be <br /> <br />EXHIBIT 4 <br /> <br />LONG-TERM DEBT <br /> <br />The long-term debt obligations outstanding at year-end are <br />summarized as follows: <br /> <br /> December 31, <br />Maturities Rates 1981 <br /> <br />Special assessment bonds.. 1982-1992 5.15-11.90% <br />Less: Bond discounts .............................. <br /> <br />$3,240,000 <br /> 27,222 <br /> <br />Total .......................................... .$3, 212 , 778 <br /> <br />Changes in long-term debt during 1981 are summarized as follows: <br /> <br /> Balance Balance <br /> January 1, December 31, <br /> Description 1981 Issued Retired 1981 <br /> <br />Special assessment <br />bonds ........... $2,510,000 $815,000 $85,000 $3,240,000 <br />General long-term <br />debt ............ 13t939 13~939 <br /> <br /> Total ......... $2,523,939 $815j000 $98,939 $3.240,000 <br /> <br />Special Assessment' bond maturities are as follows: <br /> <br />Principal Interest Total <br /> <br />1982 ................. <br />1983 ................. <br />1984 ................. <br />1985 ................. <br />1986 ........... ...... <br />1987 and thereafter.. <br /> <br />Total ................ <br /> <br />$ 225;000 $ 197,198 $ 422,198 <br />290,000 229,050 519,050' <br />320,000 209,650 529,650 <br />325,000 187,280 512,280 <br />365,000 164,015 529,015 <br />1,715~000 409,675 2,124,675 <br /> <br />$3,240,000 <br /> <br />$1.,396,868 <br /> <br />$4,636,868 <br /> <br />Special Assessment bonds are <br />and taxing power of the City, <br />the Special Assessment Funds. <br /> <br />backed by the full faith, credit <br /> and are carried as a liability of <br /> <br />-15- <br /> <br /> <br />