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City of South Bend's Capital Assets
<br />Governmental Business -type
<br />Activities Activities Total
<br />2002 2003 2002 2003 2002 2003
<br />Capital assets
<br />not being depreciated:
<br />Land $1 x W $1
<br />Construction in Pro ess '
<br />gr
<br />Total capital assets
<br />not being depreciated
<br />Capital assets
<br />being depreciated:
<br />Building 58,293,014 69,560,638 82,044,862 95,200,886 140,337,876 164,761,524
<br />Improvements other than
<br />buildings
<br />Machinery & equipment
<br />Roads
<br />Totals
<br />Less accumulated
<br />depreciation for:
<br />Buildings
<br />Improvements other than
<br />buildings
<br />Machinery & equipment
<br />Roads
<br />Totals
<br />Total capital assets,
<br />being depreciated, net
<br />Total activity capital
<br />assets, net
<br />8,175,369
<br />8,345,625
<br />68,747,163
<br />74,383,741
<br />76,922,532
<br />82,729,366
<br />35,457,870
<br />36,634,449
<br />39,399,089
<br />43,287,881
<br />74,856,959
<br />79,922,330
<br />468,310
<br />468,310
<br />0
<br />0
<br />468,310
<br />468310
<br />190,191,114
<br />212,872,508
<br />327,881,530
<br />14,687,610
<br />17,013,355
<br />26,480,783
<br />28,581,223
<br />41,168,393
<br />45,594,578
<br />3,511,106
<br />3,835,339
<br />14,635,168
<br />16,002,346
<br />18,146,274
<br />19,837,685
<br />16,981,274
<br />16,970,675
<br />25,433,234
<br />25,364,892
<br />42,414,508
<br />42,335,567
<br />0
<br />23,415
<br />0
<br />0
<br />0
<br />23,415
<br />35,179,990
<br />37,842,784
<br />66,549,185
<br />69,948,461
<br />101,729,175
<br />107,791,245
<br />67,214,573 77,166,238 123,641,929 142,924,047 190,856,502 220,090,285
<br />$85,545,344 $96,911,501 $155,734,418 $157,102,338 $241,279,762 $254,013,839
<br />Debt Administration. At December 31, 2003, the City had a number of debt issues outstanding. These issues
<br />included $1,525,000 of general obligation bonds, $85,670,000 of revenue bonds payable from governmental
<br />funds, $31,625,000 of revenue bonds ayable from enterprise funds, $30 112,808 of first mortgage bonds
<br />payable from governmental funds andp$1 ,099,005 of first mortgage bonds payable from enterprise funds.
<br />Under the Indiana Constitution and state statute, the City's general obligation bonded debt issuances are subject
<br />to a legal limitation based upon 2 % of total assessed value of real and personal property. Since Indiana's
<br />assessment statutes call for an assessed valuation of one -third of cost less depreciation, its general obligation
<br />debt limitation is one of the most conservative in the United States.
<br />The City debt increased by $38 million from the prior year. This increase was due to the issuance of a $21
<br />million bond for the construction for a new police and fire central stations, as well as the refinancing of bonds
<br />for both the downtown and airport TIF districts.
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