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<br />NOTE 5 – LONG-TERM LIABILITIES (CONTINUED)
<br />C.Changes in General Obligation Bonds and Compensated Absences Payable
<br />Beginning Ending Due Within
<br />Balance Additions Deletions Balance One Year
<br />Governmental activities
<br />Compensated absences 99,716$ 123,153$ 124,614$ 98,255$ 73,691$
<br />Business-type activities
<br />Utility revenue bonds 2,005,000 – 220,000 1,785,000 225,000
<br />Premium 110,281 – 15,557 94,724 –
<br />Total bonds 2,115,281 – 235,557 1,879,724 225,000
<br />Compensated absences 77,592 94,380 94,568 77,404 58,053
<br />Total business-type activities 2,192,873 94,380 305,437 1,957,128 283,053
<br />Total government-wide 2,292,589$ 217,533$ 430,051$ 2,055,383$ 356,744$
<br />D.Minimum Debt Payments
<br />Minimum annual payments required to retire bonds are as follows:
<br />Year Ending
<br />December 31,Principal Interest
<br />2023 225,000$ 61,300$
<br />2024 235,000 52,100
<br />2025 245,000 42,500
<br />2026 255,000 32,500
<br />2027 265,000 22,100
<br />2028 275,000 12,675
<br />2029 285,000 4,275
<br />1,785,000$ 227,450$
<br />Business-Type Activities
<br />Utility Revenue Bonds
<br />E.Revenue Pledged
<br />Future revenue pledged for the payment of long-term debt is as follows:
<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 2,012,450$ 290,200$ 5,138,155$
<br />Revenue Pledged Current Year
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