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NOTE 4—CAPITAL ASSETS (CONTINUED)
<br /> C. Depreciation Expense by Function
<br /> Governmental activities
<br /> General government 835,502
<br /> Public safety 406,404
<br /> Highways and streets 2,539,788
<br /> Culture and recreation 448,764
<br /> Total depreciation expense—governmental activities $ 4,230,458
<br /> Business-type activities
<br /> Water Utility $ 779,109
<br /> Sewer Utility 5 81,23 9
<br /> Street Light Utility 35,784
<br /> Storm Water Utility 358,409
<br /> Total depreciation expense—business-type activities $ 1,754,541
<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 Improvement Bonds
<br /> Series 201113 $ 3,090,000 2.00-2.700,/o 12/29/2011 12/15/2025 $ 1,200,000
<br /> Series 2015A $ 3,880,000 2.00-3.500zlo 6/15/2015 12/1/2035 3,020,000
<br /> Series 201513 $ 1,205,000 2.00-2.25% 6/1 5/201 5 1 2/1/2025 510,000
<br /> Series 2016A $ 1,650,000 2.00% 7/21/2016 12/15/2026 855,000
<br /> Series 2017A $ 895,000 1.15-2.50% 8/17/2017 12/15/2027 550,000
<br /> Series 2018A $ 1,175,000 3.00% 7/17/2018 12/15/2028 850,000
<br /> Series 2020A $ 9,055,000 1.00-1.65% 12/30/2020 12/15/2041 9,055,000
<br /> Series 2021 A $ 9,845,000 2.00-3.00% 1 0/1 9/2021 1 2/1 5/203 1 9,845,000
<br /> Total general obligation improvement bonds 25,885,000
<br /> Capital Equipment Certificates
<br /> Series 2013A $ 635,000 0.50-3.000,46 9/5/2013 9/1/2023 140,000
<br /> Series 2014A $ 875,000 0.60-2.35% 12/3/2014 12/15/2024 280,000
<br /> Total capital equipment certificates 420,000
<br /> Unamortized bond premiurns 795,714
<br /> Compensated absences payable 1,113,049
<br /> Net pension liability 4,128,461
<br /> Total OPEB liability 563,334
<br /> Total governmental activities 32,905,558
<br /> Business-type activates
<br /> Net pension liability 395,230
<br /> Total government and business-type activities $ 33,300,788
<br /> B. Descriptions of Long-Term Debt
<br /> • General Obligation Improvement Bonds—
<br /> The Series 201 I B were Improvement Crossover Refunding bonds that were issued to refund the
<br /> 2005B Series bonds that were called on December 15, 2014.
<br /> The Series 2015A bonds were issued to finance the construction of Fire Station#2 in the City.
<br /> The Series 2015B were issued to fund the road improvements related to the reconstruction of Garnet
<br /> and 168th Avenue and some overlay projects.
<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.
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