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NOTE 4 — CAPITAL ASSETS (CONTINUED)
<br />C. Depreciation Expense by Function
<br />Governmental activities
<br />General government
<br />Public safety
<br />Highways and streets
<br />Culture and recreation
<br />Total depreciation expense — governmental activities
<br />Business -type activities
<br />Water Utility
<br />Sewer Utility
<br />Street Light Utility
<br />Storm Water Utility
<br />Total depreciation expense — business -type activities
<br />NOTE 5 — LONG-TERM DEBT
<br />A. Components of Long -Term Debt
<br />$ 856,788
<br />429,718
<br />1,658,030
<br />391,263
<br />$ 3,335,799
<br />$ 681,759
<br />499,582
<br />40,554
<br />290,073
<br />$ 1,511,968
<br />Final Balance —
<br />Original Issue Interest Rate Issue Date Maturity Date End of Year
<br />Governmental activities
<br />Bonds payable
<br />General Obligation Improvement Bonds
<br />Series 2009A $ 1,340,000 0.85-4.50% 11/19/2009 10/1/2019 $ 285,000
<br />Series 2011A $ 4,365,000 2.00-3.15% 9/7/2011 2/1/2026 2,890,000
<br />Series 2011B $ 3,090,000 2.00-2.70% 12/29/2011 12/15/2025 2,310,000
<br />Series 2012A $ 16,875,000 3.00-3.75% 6/7/2012 12/15/2031 13,495,000
<br />Series 2015A $ 3,880,000 2.00-3.50% 6/15/2015 12/1/2035 3,715,000
<br />Series 2015B $ 1,205,000 2.00-2.25% 6/15/2015 12/1/2025 980,000
<br />Series 2016A $ 1,650,000 2.00% 7/21/2016 12/15/2026 1,505,000
<br />Series 2017A $ 895,000 1.15-2.50% 8/17/2017 12/15/2027 895,000
<br />Total general obligation improvement bonds 26,075,000
<br />Capital Equipment Certificates
<br />Series 2013A $ 635,000 0.50-3.00% 9/5/2013 9/1/2023 395,000
<br />Series 2014A $ 875,000 0.60-2.35% 12/3/2014 12/15/2024 625,000
<br />Total capital equipment certificates 1,020,000
<br />Compensated absences payable 847,202
<br />Net pension liability 5,892,660
<br />OPEB 565,491
<br />Total governmental activities 34,400,353
<br />Business -type activates
<br />Net pension liability
<br />Total government and business -type activities
<br />B. Descriptions of Long -Term Debt
<br />581,651
<br />$ 34,982,004
<br />• Capital Improvement Refunding Bonds Series 2004A — These bonds were issued to finance Fire
<br />Station #1 and were repaid via ad valorem levies. The City made the final payment during fiscal
<br />2017.
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