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NOTE 6 — 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 improvement Bonds
<br />Series 2015A $ 3,880,000 2.00-3.50% 06/15/2015 12/01/2035 $ 2,270,000
<br />Series 2016A $ 1,650,000 2.00% 07/21/2016 12/15/2026 175,000
<br />Series 2017A $ 895,000 1.15-2.50% 08/17/2017 12/15/2027 190,000
<br />Series 2018A $ 1,175,000 3.00% 07/17/2018 12/15/2028 375,000
<br />Series 2020A $ 9,055,000 1.00-1.65% 12/30/2020 12/15/2041 9,055,000
<br />Series 2021A $ 9,845,000 2.00-3.00% 10/19/2021 12/15/2031 6,330,000
<br />Series 2022A $ 10,765,000 5.00% 12/06/2022 12/15/2037 9,205,000
<br />Series 2023A $ 6,915,000 4.25-5.00% 11/15/2023 12/15/2038 6,275,000
<br />Total general obligation improvement bonds 33,875,000
<br />Capital Equipment Certificates
<br />Series 2023A $ 1,400,000 5.00% 11/15/2023 12/15/2033 1,180,000
<br />Unamortized bond premiums 1,730,740
<br />Compensated absences payable 1,467,069
<br />Net pension liability 4,936,498
<br />Total OPEB liability 1,457,811
<br />Total governmental activities 44,647,118
<br />Business -type activities
<br />Net pension liability 362,265
<br />Total government and business -type activities $ 45,009,383
<br />B. Descriptions of Long -Term Debt
<br />• General Obligation Improvement Bonds —
<br />The Series 2015A bonds were issued to finance the construction of Fire Station #2 in the City.
<br />The Series 2016A were issued to fund the street improvements related to the reconstruction of
<br />Andrie Street and 164th Lane and some overlay projects.
<br />The Series 2017A were issued to fund street improvements related to the reconstruction of Alpine
<br />Drive and Sunwood Drive.
<br />The Series 2018A were issued to fund street improvements related to the reconstruction of
<br />Riversbend Avenue and Stanhope Terrace.
<br />The Series 2020A were issued to fund approximately 50% of the construction costs of the Public
<br />Works Facility in the City.
<br />The Series 2021A, a $9,845,000 Capital Improvement Plan Bond, was issued to refund the 2012A
<br />Series bonds that were called on December 15, 2021.
<br />The Series 2022A were issued to fund the reconstruction and overlay street improvement projects
<br />as outlined in the City's 5-Year Street Reconstruction and Overlay Plan (SROP).
<br />The Series 2023A has $6,915,000 of the total $8,315,000 issue to fund improvements in the COR
<br />area.
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