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NOTE 5 — LONG-TERM DEBT (CONTINUED) The Series 2015A bonds were issued to finance the construction of Fire Station #2 in the City. The Series 2015B were issued to fund the road improvements related to the reconstruction of Garnet and 168th Avenue and some overlay projects. • Capital Equipment Certificates — Series 2013A certificates were issued to finance various capital equipment purchases and will be repaid via ad valorem levies. Series 2014A certificates were issued to finance various capital equipment purchases and will be repaid via ad valorem levies. • Compensated Absences — The liability represents vested benefits earned by Governmental Fund employees through the end of the year which will be paid or used in future periods. The General Fund is the primary fund used to liquidate this liability. • Net Pension Liability (NPL) — The liability represents the City's proportionate share of PERA's collective net pension liability. The General, Water Utility, Sewer Utility and Storm Water Utility funds will be used to liquidate this liability. • Other Post -Employment Benefits (OPEB) Liability — The liability represents non -pension benefits provided after the termination of employment. Governmental entities have traditionally accounted for OPEB on a pay-as-you-go basis. OPEB liability is accrued as service is provided by employees. The General Fund is the primary fund used to liquidate this liability. C. Changes in Long -Term Debt Balance - Change in Beginning Accounting Balance — Due Within of Year Principle* Additions Deletions End of Year One Year Governmental activities G.O. Taxlncrement Bonds $ 7.320.000 $ $ $ 7.320.000 $ — $ — GO. Capital Improvement Bonds 390.000 — 125.000 265.000 130.000 G.O. Improvement Bonds 22.905.000 5.085.000 1.195.000 26.795.000 1.460.000 Capital Equipment Certificates 1.450.000 — 140.000 1.310.000 145.000 Compensated absences payable 772.779 — 483.251 478.733 777.297 505.243 Net pension liability — 4.267.365 1.498.729 1.166.717 4.599.377 OPEB 404.55> — 65.577 10.560 459.572 Total governmental activities 33.242.334 4.267.365 7.132.557 10.436.010 34.206.246 2.240.243 Business type Activities Net pension liability - 378.618 99.883 70.429 408.072 Total governmental and business type activities $ 33.242.334 $ 4.645.983 $ 7.232.440 $ 10.506.439 $ 34.614.318 $ 2.240.243 *Adjustment is part of the change in accounting principle described earlier in these notes. 76