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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 />2026 $ 2,635,000 $ 1,175,209
<br />2027 2,550,000 1,078,159
<br />2028 2,545,000 979,959
<br />2029 2,515,000 880,309
<br />2030 2,610,000 790,959
<br />2031-2035 12,915,000 2,575,831
<br />2036-2040 8,320,000 588,895
<br />2041 965,000 15,923
<br />$ 35,055,000 $ 8,085,243
<br />NOTE 7 — NET INVESTMENT IN CAPITAL ASSETS
<br />The government -wide statement of net position at December 31, 2025 includes the City's net investment
<br />in capital assets calculated as follows:
<br />Governmental Business -Type
<br />Activities Activities
<br />Total
<br />Net investment in capital assets:
<br />Capital assets
<br />Not depreciated $ 11,797,451 $ 35,551,809 $ 47,349,260
<br />Depreciated 107,759,535 78,627,715 186,387,250
<br />Less bonds payable (33,875,000) — (33,875,000)
<br />Less capital equipment certificates (1,180,000) (1,180,000)
<br />Less unamortized bond premiums (1,730,740) (1,730,740)
<br />Less capital related payables (81,301) (1,976,638) (2,057,939)
<br />Total net investment in capital assets $ 82,689,945 $ 112,202,886 $ 194,892,831
<br />79
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