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NOTE 6 — LONG-TERM DEBT (CONTINUED)
<br />D. Minimum Debt Payments
<br />Minimum annual principal and interest payments required to retire bonds and capital equipment certificates
<br />are as follows:
<br />Governmental Activities
<br />Bonded and Capital Equipment Certificate Debt
<br />Year Ending
<br />December 31, Principal interest
<br />2024
<br />2025
<br />2026
<br />2027
<br />2028
<br />2029-2033
<br />2034-2038
<br />2039-2041
<br />2,940,000
<br />2,980,000
<br />2,635,000
<br />2,550,000
<br />2,545,000
<br />12,940,000
<br />11,535,000
<br />2,850,000
<br />$ 40,975,000
<br />NOTE 7 — NET INVESTMENT IN CAPITAL ASSETS
<br />1,410,821
<br />1,278,651
<br />1,175,209
<br />1,078,159
<br />979,959
<br />3,484,006
<br />1,275,250
<br />92,660
<br />$ 10,774,715
<br />The government -wide statement of net position at December 31, 2023 includes the City's net investment
<br />in capital assets calculated as follows:
<br />Governmental Business -Type
<br />Activities Activities
<br />Net investment in capital assets:
<br />Capital assets
<br />Not depreciated $ 18,176,090
<br />Depreciated 79,668,013
<br />Less bonds payable (39,480,000)
<br />Less capital equipment certificates (1,495,000)
<br />Less unamortized bond premiums (2,099,612)
<br />Less capital related payables (631,041)
<br />Adjustment for debt riot used for capital assets 615,000
<br />Debt adjustment for unspent proceeds 12,206,211
<br />Total net investments in capital assets
<br />$ 9,717,921
<br />63,637,230
<br />(1,422,507)
<br />$ 66,959,661 $ 71,932,644
<br />Total
<br />$ 27,894,011
<br />143,305,243
<br />(39,480,000)
<br />(1,495,000)
<br />(2,099,612)
<br />(2,053,548)
<br />615,000
<br />12,206,211
<br />$ 138,892,305
<br />79
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