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CITY OF CENTERVILLE, MINNESOTA
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />DECEMBER 31, 2013
<br />Note 3:DETAILED NOTES ON ALL FUNDS - CONTINUED
<br />Annual debt service requirements for general obligation improvement bonds are as follows:
<br />General Obligation Improvement Bonds
<br />Governmental Activities
<br />Year Ending
<br />December 31,PrincipalInterestTotal
<br />2014$855,000$298,871$1,153,871
<br />2015880,000276,0781,156,078
<br />2016895,000255,5331,150,533
<br />2017920,000231,4641,151,464
<br />20181,935,000190,0402,125,040
<br />2019 - 20232,470,000542,2893,012,289
<br />2024 - 20281,445,000115,7211,560,721
<br />2029150,0002,250152,250
<br />Total$9,550,000$1,912,246$11,462,246
<br />Changes in long-term liabilities
<br />During the year ended December 31, 2013, the following changes occurredin noncurrent liabilities:
<br />BeginningEndingDue Within
<br />BalanceIncreasesDecreasesBalanceOne Year
<br />Governmental activities
<br />G.O Bonds$9,294,981$1,485,000$(1,229,981)$9,550,000$855,000
<br />Compensated absences
<br />payable32,30448,071(43,444)36,93132,036
<br />Governmental activities
<br />long-term liabilities$9,327,285$1,533,071$(1,273,425)$9,586,931$887,036
<br />Business-type activities
<br />Compensated absences
<br />payable$13,102$15,964$(13,351)$15,715$12,979
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