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CITY OF SOUTH BEND, INDIANA <br />NOTES TO GENERAL-PURPOSE FINANCIAL STATEMENTS <br />(Continued) <br />Enterprise Internal <br />Funds Service Funds <br />Land $ 5, 527, 399 $ <br />Buildings 75,073,455 <br />Improvements ether Than Buildings 65,745,117 - <br />Machinery And Equipment 39,441,604 813,504 <br />Construction In Progress 31.,054,469 - <br />Totals 216,842,644 813,504 <br />Accumulated Depreciation <br />Net Fixed Assets <br />61,9 $,283 415,173 <br />~ 154.924.351 ~ 398.331 <br />Note 6. Long-Term Debt <br />General Gbligation Bonds <br />The City issues general obligation bonds to provide funds for the acquisition and construction of <br />major capital facilities. <br />General abligation bonds are direct obligations and pledge the full faith and credit of the government. <br />General obligation bonds currently outstanding at year end areas foClows: <br />Interest <br />Purpose Rates Amount <br />1997 Redevelopment District Refunding <br />4.0°/o to 5.1 °/0 2 620 000 <br />29 <br />