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NOTE 4 — CAPITAL ASSETS (CONTINUED) <br />C. Depreciation Expense by Function <br />Governmental activities <br />General government $ 900,772 <br />Public safety 327,930 <br />Highways and streets 1,537,734 <br />Culture and recreation 414,800 <br />Total depreciation expense — governmental activities $ 3,181,236 <br />Business -type activities <br />Water Utility $ 665,845 <br />Sewer Utility 489,380 <br />Street Light Utility 40,283 <br />Storm Water Utility 267,705 <br />Total depreciation expense — business -type activities $ 1,463,213 <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 Capital Improvement <br />Capital Improvement Refunding Bonds_ <br />Series 200-4A $ 1 _-480.000 1.80-4.000° 11 1 200-4 2 1 2017 $ 135,000 <br />General Obligation Improvement Bonds <br />Series 2009A $ 13-40.000 0.85-4.500o 11 19 2009 10 1 2019-425,000 <br />Series 2011A $-1365,000 2.00-3.15°° 9 7 2011 2 1 2026 3,235,000 <br />Series 2011B $ 3.090.000 2.00-2.70°° 12 29 2011 12 15 2025 2,575,000 <br />Series 2012A $ 16.875,000 3.00-3.75°° 6 7 2012 12 15 2031 1-1,12_5,000 <br />Series 2015A $ 3.880.000 2.00-3.50° ° 6 15 2015 12 1 2035 3.880.000 <br />Series 2015B $ 1205,000 2.00-2.25°° 6 15 2015 12 1 2025 1,095,000 <br />Series 2016A $ 1.650.000 2.00°° 7 21 2016 12 15 2026 1.650.000 <br />Total general obligation improvement bonds 26.985,000 <br />Total bonds payable 27.120.000 <br />Capital Equipment Certificates <br />Series 2013A $ 635,000 0.50-3.00°° 9 5 2013 9 1 2023-455_000 <br />Series 201-4A $ 875,000 0.60-2.35°° 12 3 201-4 12 15 202-4 710.000 <br />Total capital equipment certificates 1.165,000 <br />Compensated absences payable 77-4.743 <br />Net pension liability 11.832.779 <br />OPEB 515,011 <br />Total governmental activities-41_-407_533 <br />Business -type activites <br />Net pension liability 639.331 <br />Total government and business -type activities $-42.0-46.86-4 <br />B. Descriptions of Long -Term Debt <br />• Capital Improvement Refunding Bonds Series 2004A — These bonds were issued to finance Fire <br />Station #1 and will be repaid via ad valorem levies. <br />75 <br />