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CITY OF SOUTH BEND <br />NOTES TO FINANCIAL STATEMENTS <br />(Continued) <br />G. Long-Term Liabilities <br />1. General Obligation Bonds <br />The primary government issues general obligation bonds to provide funds for the acquisition and <br />construction of major capital facilities. <br />General obligation bonds are direct obligations and pledge the full faith and credit of the primary <br />government. At December 31, 2006, there are no general obligation bonds outstanding. <br />2. Mortgage Bonds <br />Mortgage Bonds outstanding at year end are as follows: <br />Purpose Rates Issue 12-31-06 <br />Governmental activities: <br />2001 Public Warks Service Center 4.63% to 5.3% $ 8,112,250 $ 6,932,685 <br />2003 New Fire Station/Police renovations 2% to 5% 21,335,000 19,645,000 <br />2005 Park Fitness Center renovations 3.61% 920,000 759,439 <br /> <br />Total -governmental activities $ 30,367,250 $ 27,337,124 <br /> <br />Business-type activities: <br />2001 Public Works Service Center 4.63% to 5.3% $ 1,137,750 $ 972,315 <br />Mortgage bonds at year end include the following amounts of unamortized bond discount (pre- <br />mium): <br /> Unamortized <br /> Balance at Discount Adjusted <br />Purpose December 31 (Premium) Balance <br /> <br />Governmental activities: <br />2001 Public Works Service Center $ 6,932,685 $ 58,813 $ 6,873,872 <br />2003 New Fire Station/Police renovations 19,645,000 (506,072) 20,151,072 <br />2005 Park Fitness Center renovations 759,439 - 759,439 <br /> <br />Total governmental activities $ 27,337,124 $ (447,259) $ 27,784,383 <br /> <br />Business-type activities: <br />2001 Public Works Service Center $ 972,315 $ 11,922 $ 960,393 <br />61 <br />