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Investment Summary <br /> U.S.Government Securities $ 5,595,557 <br /> Commercial Paper $ 2,976,347 <br /> n Repurchase Agreements $ 2,603,355 <br /> Money Markets $ 527,405 <br /> Total Investments $11,702,664 <br /> Investment Income =$389,472 <br /> Market Value Exceeds Book Value <br /> Outstanding Debt 12/31/02 <br /> Road Improvement Bonds $7,835,000 <br /> TM Tax Abatement Bonds $ 625,000 <br /> Liquor Revenue Bonds $ 685,000 <br /> •Tax Increment Bonds $3,110,000 <br /> *Total Debt $12,255,000 <br /> •Issued During Year $ 1,500,000 <br /> Principal Payments $ 675,000 <br /> GASB 34 <br /> Requires Capital Assets to be Reported with <br /> Accumulated Depreciation <br /> •Buildings/Automobiles/Computer Equipment <br /> •Water Towers/Roads/Storm Sewer Lines <br /> Implementation <br /> *Budgets Under$10 Million <br /> *Fiscal Years after 6/15/03 <br /> a Completion—Summer 2003 <br />