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CITY OF ROSEVILLE <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2013 <br />NOTE 4- DETAII.ED NOTES ON ALL FUNDS (Continued) <br />F. Leases <br />The City leases office facilities and copiers under noncancelable operating leases. Total costs for such <br />leases were $105,421 for the year ended December 31, 2013. The future minimum lease payments for <br />these leases are as follows: <br />Year Endin� Dec. 31 <br />2014 <br />2015 <br />2016 <br />2017 <br />Total <br />G. Long-term debt <br />Amount <br />$ 70,623 <br />65,113 <br />66,967 <br />5,316 <br />$ 208,019 <br />The City issues general obligation debt to provide for financing construction of major capital facilities <br />and street improvements. Debt service for street improvements is covered by special assessments against <br />benefited properties with any shortfalls being paid from general taxes. <br />General obligation bonds and certificates of indebtedness are direct obligations and pledge the full faith <br />and credit of the government. The original amount of general obligation bonds and certificates of <br />indebtedness for the issues listed below is $40,160,000 <br />General obligation debt currently outstanding is as follows: <br />Purpose <br />Governmental activities <br />Net Interest <br />Rates Amount <br />85% - 5.6% $ 37,135,000 <br />61 <br />