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<br />NOTE 7. <br /> <br />NOTE 8. <br /> <br />NORTH METRO TELECOMMUNICATIONS COMMISSION <br />NOTES TO FINANCIAL STATEMENTS <br /> <br />CONSTRUCTION COMMITMENTS <br /> <br />During 2003, the Commission co=enced construction of a building to house the <br />operations of the Commission. At December 31, 2003 purchase commitments for <br />construction to be completed are as follows: <br /> <br />Amount <br /> <br />Total construction contract <br />Less amount expended <br /> <br />$1,157,000 <br />(55,228) <br /> <br />Remaining contract commitment <br /> <br />$1,101,772 <br /> <br />CONCENTRATION OF CREDIT RISK <br /> <br />Substantially all of the Commission's revenue is derived through Commission's franchise <br />agreement with cable operating company. In the event of the termination of such <br />agreement without replacement thereof with another cable operating entity, the <br />Commission's revenue could be reduced to a level prohibiting continuing operations. <br /> <br />10 <br />