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NOTE 5 — LONG -TERM DEBT
<br />A. Components of Long -Term Debt
<br />Debt service expenditures for the long - term portion of compensated absences are recorded in the General
<br />Fund and the Economic Development Authority Special Revenue Fund. All other long -term debt
<br />obligations are supported by ad valorem property taxes, tax increments, and special assessments, which
<br />are accounted for in the Debt Service Funds. Interest expense within remaining funds represents costs of
<br />interfund borrowing.
<br />The long -term debt obligations outstanding at year -end are summarized as follows:
<br />Final Balance
<br />Original Interest Issue Maturity End of
<br />Issue Rate Date Date Year
<br />General long -term debt
<br />Bonds payable
<br />General Obligation Tax Increment Bonds
<br />Tax Increment Bonds, Series 1995A $2,600,000 4.50 -5.65% 3/1/1995 2/1/2010 $ 1,640,000
<br />Tax Increment Refunding
<br />Bonds, Series 1996A $ 330,000 5.70 -6.25% 1/1/1996 2/1/2007 150,000
<br />Tax Increment Bonds, Series 1999A $1,195,000 4.00 -4.50% 1/1/1999 1/1/2013 1,015,000
<br />Tax Increment Bonds, Series 2000B $1,695,000 5.10 -5.35% 6/1/2000 2/1/2009 1,240,000
<br />Tax Increment Bonds, Series 2001A $1,680,000 6.05 -6.75% 2/28/2001 12/15/2011 1,680,000
<br />Tax Increment Bonds, Series 2001B $ 920,000 4.55 -4.70% 3/1/2001 12/15/2014 920,000
<br />Tax Increment Bonds, Series 2001C $1,045,000 3.05 -3.85% 12/3/2001 12/15/2009 1,045,000
<br />Tax Increment Bonds, Series 2001D $1,215,000 3.25 -4.25% 12/3/2001 12/15/2005 315,000
<br />Tax Increment Refunding Bonds,
<br />Series 2003A $ 945,000 1.20 -2.25% 2/1/2003 2/1/2007 945,000
<br />Tax Increment Refunding Bonds,
<br />Series 2003B $1,285,000 1.45 -2.75% 7/1/2003 2/1/2010 1,285,000
<br />Lease Revenue Bonds
<br />Public Facility Lease Revenue
<br />Bonds, EDA Series 1999A $1,665,000 4.30 -5.80% 12/1/1999 2/1/2019 1,510,000
<br />Total bonds payable 11,745,000
<br />Capital Equipment Certificates
<br />Capital Equipment Certificates
<br />of Indebtedness, Series 2000A $ 257,000 5.25% 3/21/2000 1/1/2004 69,000
<br />Capital Equipment Certificates
<br />of Indebtedness, Series 2002A $ 295,000 1.75- 3.25% 12/30/2002 12/15/2007 239,000
<br />Capital Equipment Certificates
<br />of Indebtedness, Series 2003A $ 675,000 1.20 -2.50% 12/15/2003 12/15/2008 675,000
<br />Total capital equipment
<br />certificates 983,000
<br />Compensated absences payable 351,416
<br />Total general long -term debt $13,079,416
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