Laserfiche WebLink
CITY OF SOUTH BEND <br />NOTES TO FINANCIAL STATEMENTS <br />(Continued) <br />Assets acquired through capital leases still in effect are as follows: <br />Governmental Business -Type <br />Activities Activities <br />Buildings $ 1,960,044 $ - <br />Improvements other than buildings 587,801 - <br />Machinery and equipment 1,560,366 798,101 <br />Totals 4,108,211 798,101 <br />Accumulated depreciation 506,279 217,415 <br />Totals $ 3,601,932 $ 580,686 <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. General obligation bonds currently outstanding at year end are as follows: <br />Interest Original Outstanding <br />Purpose Rates Issue 12 -31 -04 <br />1997 Redevelopment District refunding 4.0% to 5.1% $ 4,750,000 $ 935,000 <br />General obligation bonds at year and include the following amounts of unamortized bond dis- <br />count: <br />Balance Unamortized Adjusted <br />Purpose December 31 Discount Balance <br />1997 Redevelopment District refunding $ 935,000 $ 5,542 $ 929,458 <br />Annual debt service requirements to maturity for general obligation bonds are as follows: <br />Year Ended Governmental Activities <br />December 31 Principal Interest <br />2005 $ 615,000 $ 39,445 <br />2006 320,000 8,160 <br />Totals $ 935,000 $ 47.605 <br />41 <br />