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NOTES TO FINANCIAL STATEMENTS - Continued
<br />December 31, 1981
<br />Note 7: Long -Term Debt - Continued
<br />Special Assessment Bonds:
<br />$63,200, 1977 improvement bonds, issued for sanitary sewer
<br />improvements, due in annual installments of $6,320 through
<br />July 27, 1987, together with interest at 5.0 percent.
<br />$935,000, 1979 temporary improvement bonds, issued for various
<br />improvements, due in one installment on December 1, 1982,
<br />together with interest at 6.6 percent.
<br />$ 37,920
<br />935,000
<br />200,000
<br />$200,000, 1980 improvement bonds, issued for utility and street
<br />improvements, due in annual installments of $40,000 through
<br />December 1, 1986, together with interest at 8.25 percent.
<br />$45,000, 1981 improvement bonds, issued for sanitary sewer
<br />improvements, due in annual installments of $5,000 through
<br />December 1, 1991, together with interest ranging from 10 to
<br />11 percent.
<br />45,000
<br />Total $1,217,920
<br />The annual requirements to amortize all debt outstanding as of
<br />December 31, 1981, including interest payments of $166,861, are as
<br />follows:
<br />General Long -Term Debt
<br />General
<br />Obliga- Certificates
<br />Year Ending tion of Contracts Special
<br />December 31, Bonds Indebtedness Payable Total Assessments Total
<br />1982 $10,340 $ 90,093 $ 1,493 $101,926 $ 1,066,139 $1,168,065
<br />1983 61,688 1,114 62,802 70,813 133,615
<br />1984 1,114 1,114 66,697 67,81111
<br />1985 743 743 62,581 63,324
<br />1986 58,465 58,465
<br />1987 -1991 39,811 39,811 1
<br />Total $10,340 $151,781 $ 4,464 $166,585 $ 1,364,506 $1,531,091
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<br />To service the general obligation bonds and certificates of indebted-
<br />ness, $26,815 is available in the Debt Service Funds.
<br />The amount to be provided in the General Long -Term Debt Group of
<br />Accounts represents future tax levies for debt service on certificates
<br />of indebtedness which will be placed annually as scheduled to provide
<br />funds for debt retirement. Total deferred tax levies to retire General
<br />Long -Term Debt are $159,369.
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