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_1 <br />NOTE 3 — CAPITAL ASSETS (CONTINUED) <br />B. Changes in Capital Assets Used in Business -Type Activities <br />Balance — Transfers and <br />Beginning Completed Balance — <br />of Year Additions Deletions Construction End of Year <br />Capital assets, not depreciated <br />Construction in progress $ $ 55,794 $ <br />— $ <br />— $ <br />55,794 <br />Capital assets, depreciated <br />Infrastructure 1,547,940 <br />— <br />1,547,940 <br />Less accumulated depreciation for <br />Infrastructure (385,959) (31.889) <br />(417.8481 <br />Net capital assets, depreciated 1,161.981 (31,999) <br />— <br />1 '� •��`�� <br />Net capital assets $ 1,161,981 $ 23,905 $ <br />— $ <br />— $ <br />1,185,886 <br />C. Depreciation Expense by Function <br />Depreciation expense was charged to the following functions: <br />Governmental activities <br />General government <br />$ <br />34,177 <br />Public works <br />77,354 <br />Conservation and development <br />750 <br />Total depreciation expense — governmental activities <br />$ <br />112,281 <br />Business -type activities <br />Water <br />$ <br />15,510 <br />Sewer <br />16,379 <br />Total depreciation expense — business -type activities <br />$ <br />31,889 <br />NOTE 4 — LONG-TERM LIABILITIES <br />A. Components of Long -Term Debt <br />Governmental activities <br />General obligation (G.O.) bonds <br />G.O. Refunding Bonds of 2015A <br />G.O. Improvement Bonds of 2018A <br />Unamortized premiums <br />Total governmental activities <br />long-term debt <br />Final Balance — <br />Original Issue Interest Rate Issue Date Maturity Date End of Year <br />$ 775,000 1.25-2.90% 06/17/2015 02/01/2028 $ 210,000 <br />$ 660,000 3.00-4.00% 07/12/2018 02/01/2034 435,000 <br />645,000 <br />9.671 <br />-28- <br />$ 654,671 <br />