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<br />NOTE 4 – LONG-TERM LIABILITIES (CONTINUED)
<br />
<br />C. Changes in General Obligation Bonds and Compensated Absences Payable
<br />
<br />Beginning Ending Due Within
<br />Balance Additions Deletions Balance One Year
<br />Governmental activities
<br />Compensated absences 86,680$ 123,937$ 104,346$ 106,271$ 79,704$
<br />Business-type activities
<br />Utility revenue bonds 2,415,000 – 200,000 2,215,000 210,000
<br />Premium 141,394 – 15,556 125,838 –
<br />Total bonds 2,556,394 – 215,556 2,340,838 210,000
<br />Compensated absences 51,988 85,213 60,372 76,829 57,622
<br />Total business-type activities 2,608,382 85,213 275,928 2,417,667 267,622
<br />Total government-wide 2,695,062$ 209,150$ 380,274$ 2,523,938$ 347,326$
<br /> D. Minimum Debt Payments
<br />
<br />Minimum annual payments required to retire bonds are as follows:
<br />
<br />Year Ending
<br />December 31,Principal Interest
<br />2021 210,000$ 78,800$
<br />2022 220,000 70,200
<br />2023 225,000 61,300
<br />2024 235,000 52,100
<br />2025 245,000 42,500
<br />2026–2029 1,080,000 71,550
<br />2,215,000$ 376,450$
<br />Business-Type Activities
<br />Utility Revenue Bonds
<br />
<br />E. Revenue Pledged
<br />
<br />Future revenue pledged for the payment of long-term debt is as follows:
<br />
<br />Percent of Remaining Principal Pledged
<br />Use of Total Term of Principal and Interest Revenue
<br />Debt Issue Proceeds Type Debt Service Pledge and Interest Paid Received
<br />Utility Revenue Bonds of 2018A Utility improvements Utility charges 100%2018–2029 2,591,450$ 286,998$ 4,248,402$
<br />Revenue Pledged Current Year
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