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NOTE 4 — CAPITAL ASSETS (CONTINUED)
<br />C. Depreciation Expense by Function
<br />Governmental activities
<br />General government $ 900,772
<br />Public safety 327,930
<br />Highways and streets 1,537,734
<br />Culture and recreation 414,800
<br />Tot al depreciation expense governmental activities $ 3,181,236
<br />Business -type activities
<br />Water Utility $ 665,845
<br />Sewer Utility 489,380
<br />Street Light Utility 40,283
<br />Storm Water Utility 267,705
<br />Total depreciation expense — business -type activities $ 1,463,213
<br />NOTE 5 — LONG-TERM DEBT
<br />A. Components of Long -Term Debt
<br />Final Balance —
<br />Original Issue Interest Rate Issue Date Maturity Date End of Year
<br />Governmental activities
<br />Bonds payable
<br />General Obligation Capital Improvement
<br />Capital Improvement Refunding Bonds,
<br />Series 2004A $ 1,480,000 1.80-4.00% 11/1/2004 2/1/2017 $ 135,000
<br />General Obligation Improvement Bonds
<br />Series 2009A $ 1,340,000 0.85-4.50% 11/19/2009 10/1/2019 425,000
<br />Series 2011A $ 4,365,000 2.00-3.15% 9/7/2011 2/1/2026 3,235,000
<br />Series 2011B $ 3,090,000 2.00-2.70% 12/29/2011 12/15/2025 2,575,000
<br />Series 2012A $ 16,875,000 3.00-3.75% 6/7/2012 12/15/2031 14,125,000
<br />Series 2015A $ 3,880,000 2.00-3.50% 6/15/2015 12/1/2035 3,880,000
<br />Series 2015B $ 1,205,000 2.00-225% 6/15/2015 12/1/2025 1,095,000
<br />Series 2016A $ 1,650,000 2.00% 7/21/2016 12/15/2026 1,650,000
<br />Total general obligation improvement bonds 26,985,000
<br />Total bonds payable 27,120,000
<br />Capital Equipment Certificates
<br />Series 2013A $ 635,000 0.50-3.00% 9/5/2013 9/1/2023 455,000
<br />Series 2014A $ 875,000 0.60-2.35% 12/3/2014 12/15/2024 710,000
<br />Total capital equipment certificates 1,165,000
<br />Compensated absences payable 774,743
<br />Net pension liability 11,832,779
<br />OPEB 51 5,01 1
<br />Total governmental activities 41,407,533
<br />Business -type activites
<br />Net pension liability 639,331
<br />Total government and business -type activities $ 42,046,864
<br />B. Descriptions of Long -Term Debt
<br />• Capital Improvement Refunding Bonds Series 2004A — These bonds were issued to finance Fire
<br />Station #1 and will be repaid via ad valorem levies.
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