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NOTE 5 — LONG-TERM DEBT (CONTINUED)
<br />• General Obligation Improvement Bonds (continued) —
<br />The Series 2016A were issued to fund the road improvements related to the reconstruction of
<br />Andrie Street and 164' Lane and some overlay projects.
<br />The Series 2017A were issued to fund road improvements related to the reconstruction of Alpine
<br />Drive and Sunwood Drive.
<br />The Series 2018A were issued to fund road improvements related to the reconstruction of
<br />Riversbend Avenue and Stanhope Terrace.
<br />The Series 2020A were issued to fund approximately 50% of the construction costs of the Public
<br />Works Facility in the City.
<br />• Capital Equipment Certificates —
<br />Series 2013A certificates were issued to finance various capital equipment purchases and will be
<br />repaid via ad valorem levies.
<br />Series 2014A certificates were issued to finance various capital equipment purchases and will be
<br />repaid via ad valorem levies.
<br />Debt service is covered respectively by special assessments, state aids, and general property taxes.
<br />General Obligation bonds and equipment certificates are direct obligations and have the pledge of the
<br />full faith and credit of the City.
<br />• Compensated Absences — The liability represents vested benefits earned by Governmental Fund
<br />employees through the end of the year which will be paid or used in future periods. The General Fund
<br />is the primary fund used to liquidate this liability.
<br />• Net Pension Liability (NPL) — The liability represents the City's proportionate share of PERA's
<br />collective net pension liability. The General, Water Utility, Sewer Utility and Storm Water Utility
<br />funds will be used to liquidate this liability.
<br />• Total Other Post -Employment Benefits (OPEB) Liability — The liability represents non -pension
<br />benefits provided after the termination of employment. The General Fund is the primary fund used to
<br />liquidate this liability.
<br />C. Changes in Long -Term Debt
<br />Balance -
<br />Beginning Balance — Due Within
<br />of Year Additions Deletions End of Year One Year
<br />Governmental activities
<br />G.O. Imirovement Bonds $ 23,165,000 $ 9,055,000 $ 3,895,000 $ 28,325,000 $ 1,775,000
<br />Capital Equipment Certificates 725,000 150,000 575,000 155,000
<br />Compensated absences payable 948,700 751,022 605,859 1,093,863 711,011
<br />Net pension liability 4,867,794 2,066,313 890,191 6,043,916 Total OPEB liability 699,412 133,878 371,750 461,540
<br />Total governmental activities 30,405,906 12,006,213 5,912,800 36,499,319 2,641,011
<br />Business type Activities
<br />Net pension liability 544,044 23,883 58,912 509,015
<br />Total governmental and business
<br />type activities $ 30,949,950 $ 12,030,096 $ 5,971,712 $ 37,008,334 $ 2,641,011
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