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NOTE 4 — LONGTERM LIABILITIES <br />A. Components of Long -Term Debt <br />Final <br />Balance - <br />Odginal Issue Interest Rate. <br />Issue Date <br />Maturity Date. <br />End of Year <br />GOvernmmental =ti vities. <br />General.obligation (G.O.) bonds <br />G:O: Refunding Bonds of 2015A $ 775,000 <br />1..25 2.90% <br />06/17/2615 <br />02/QI/2U2$ <br />530,000 <br />©.0. Improvement Bonds 6f 2018A E 660,000 <br />3.00-4.Wlo <br />07/12/2018 <br />02101/1034 <br />630,000 <br />1,16Q,000 <br />Llrianwrtized premiums <br />16,081 <br />Total governmental activities long-term debt <br />�: 1,176,081 <br />Bi Changes in Long -Term Debt <br />Balance— <br />Balance - <br />.Begimting, <br />End <br />Due Witliin <br />Of Year: <br />Additions <br />Retirements <br />of Year <br />One Year <br />Governmental activities <br />G,O. bands <br />•A.O.Refynding.Bonds of..20i5A S 590,000 <br />$ <br />$ 60,000 <br />5 530,000 <br />$ 60,000 <br />.0.0. Improvement Bonds 6f2018A 660.000 <br />- <br />30,000 <br />630;000 <br />35,000 <br />Unamorti7ed premiums 17.363 <br />- <br />1,282 <br />164081. <br />- <br />Total. $ 1,267:363 <br />$ - <br />$ 91,282 <br />$ 1.176,081 <br />$ 95,000 <br />C. Minimum Debt Payments <br />Minimum annual principal and interest payments required to Yetiro bonds. payable areas follows: <br />Governmental <br />Year Ending <br />Activities. <br />December 3l, Principal <br />Interest <br />2021. $ <br />9.5,000 S <br />34,065 <br />2022 <br />105,Q06 <br />31,659 <br />2023 <br />105,000 <br />29,029 <br />2Q24 <br />105,000. <br />26;301 <br />�025 <br />105,000 <br />23,47b <br />2026=2030 <br />435,000 <br />72,348 <br />.2-0314034 <br />210,000 <br />17,200 <br />Total S <br />1,160.000 $ <br />234,078 <br />D.. Description and Restrictions of Long -Term Debt <br />General Obligation, Bonds — The bonds were issued. for improvements or projects, or to refund <br />previously issued bonds; which benefited the City as a.whole:.and are, therefore, iepaid_from ad valorem <br />lev#es. . <br />E. Ultimate Responsibility for Debt <br />All general obligation bopos are backed by the full Q& and credit. of the City.. <br />-27- <br />