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NOTE 5 — LONG-TERM DEBT (CONTINUED)
<br />C. Changes in Long -Term Debt
<br />Beginning
<br />of Year
<br />Tax Increment Bonds
<br />Lease Revenue Bonds
<br />Capital Improvement
<br />Refunding Bonds
<br />G.O. Improvement Bonds
<br />Capital Equipment Certificates
<br />Compensated absences
<br />OPEB
<br />D. Minimum Debt Payments
<br />$ 700,000
<br />17,040,000
<br />750,000
<br />12,015,000
<br />170,000
<br />798,892
<br />214,747
<br />$ 31,688,639
<br />Additions
<br />Deletions
<br />$ 7,320,000 $ 200,000
<br />17,040,000
<br />16,875,000
<br />362,948
<br />72,531
<br />115,000
<br />1,000,000
<br />170,000
<br />400,896
<br />7,636
<br />$ 24,630,479 $ 18,933,532
<br />Balance —
<br />End of Year
<br />$ 7,820,000
<br />635,000
<br />27,890,000
<br />760,944
<br />279,642
<br />$37,385,586
<br />Minimum annual principal and interest payments required to retire bonds are as follows:
<br />Governmental Activities
<br />Bonded Debt
<br />Year Ending
<br />December 31, Principal
<br />2013 1,315,000
<br />2014 4,415,000
<br />2015 1,495,000
<br />2016 2,220,000
<br />2017 2,265,000
<br />2018-2022 11,310,000
<br />2023-2027 8,120,000
<br />2028-2032 5,205,000
<br />$ 36,345,000
<br />Interest
<br />1,085,905
<br />1,043,826
<br />865,511
<br />823,375
<br />768,465
<br />2,934,711
<br />1,448,985
<br />440,399
<br />9,411,177
<br />E. Revenue Pledged
<br />Future revenue pledged for the payment of long -tell ui debt is as follows:
<br />Revenue Pledged
<br />Bond Issue
<br />Use of
<br />Proceeds
<br />Tax increment bonds Street & Building
<br />improvements
<br />Series 2007B
<br />Series 2012B
<br />Type
<br />Tax increment
<br />financing
<br />Percent of
<br />Total Term of
<br />Debt Service Pledge
<br />Remaining
<br />Principal
<br />and Interest
<br />Due Within
<br />One Year
<br />$ 200,000
<br />120,000
<br />995,000
<br />494,614
<br />$ 1,809,614
<br />Current Year
<br />Principal
<br />and Interest
<br />Paid
<br />Pledged
<br />Revenue
<br />Received
<br />100% $ 1,817,018
<br />2007-2014
<br />2012-2024
<br />$ 532,000
<br />$ 8,611,980
<br />$ 228,000
<br />$ 75,739
<br />78
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