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- Expansion of workout facility at recreation center $920 thousand.
<br />- Paving Program at $1.8 million.
<br />- Upgrade to water wells at a cost of $250 thousand.
<br />City of South Bend's Capital Assets
<br />Governmental Business -type
<br />Activities Activities
<br />2004 2005 2004 2005
<br />Capital assets
<br />not being depreciated:
<br />Total
<br />2004 2005
<br />Land
<br />$11,564,931
<br />$11,564,931
<br />$2,656,367
<br />$3,020,575
<br />$14,212,298
<br />$14,585,506
<br />Construction in Progress
<br />15,141,413
<br />6,214,193
<br />2,837,643
<br />3,938,589
<br />17,979,056
<br />10,152,782
<br />Total capital assets
<br />not being depreciated
<br />26,706,344
<br />17,779,124
<br />5,494,010
<br />6,959,164
<br />32,200,354
<br />24,738,288
<br />Capital assets
<br />being depreciated:
<br />Building
<br />79,263,073
<br />102,625,262
<br />95,973,045
<br />92,513,376
<br />175,236,118
<br />195,138,638
<br />Improvements other than
<br />buildings
<br />8,190,617
<br />8,713,737
<br />86,802,058
<br />88,019,697
<br />94,992,675
<br />96,733,434
<br />Machinery & equipment
<br />36,880,723
<br />37,623,047
<br />43,427,108
<br />43,446,609
<br />80,307,831
<br />81,069,656
<br />Roads
<br />2,101,485
<br />2,101,485
<br />0
<br />0
<br />2,101,485
<br />2,101,485
<br />Totals
<br />126,435,898
<br />151,063,531
<br />226,202,211
<br />223,979,682
<br />352,638,109
<br />375,043,2I3
<br />Less accumulated
<br />depreciation for:
<br />Buildings
<br />19,102,238
<br />20,866,539
<br />29,879,152
<br />30,768,132
<br />48,981,390
<br />51,634,671
<br />Improvements other than
<br />buildings
<br />3,985,236
<br />4,489,950
<br />17,554,984
<br />19,158,662
<br />21,540,220
<br />23,648,612
<br />Machinery & equipment
<br />17,367,908
<br />18,890,331
<br />26,471,522
<br />28,018,301
<br />43,839,430
<br />46,908,632
<br />Roads
<br />51,662
<br />151,904
<br />0
<br />0
<br />51,662
<br />151,904
<br />Totals
<br />40,507,044
<br />44,398,724
<br />73,905,658
<br />77,945,095
<br />114,412,702
<br />122,343,819
<br />Total capital assets, being
<br />depreciated, net
<br />85,928,854
<br />106,664,807
<br />152,296,553
<br />146,034,587
<br />238,225,407
<br />252,699,394
<br />Total activity capital
<br />assets, net
<br />$112,635,198
<br />$124,443,931
<br />$157,790,563
<br />$152,993,751
<br />$270,425,761
<br />$277,437,682
<br />Debt Administration. At December 31, 2005, the City had a number of debt issues outstanding.
<br />These issues included $320,000 of eneral obligation bonds, $84,225,000 of revenue bonds
<br />ayable from governmental funds, 35,990 000 of revenue bonds payable from enterprise funds,
<br />$28,994,057 of first mortgage bonds payable from governmental funds and $1,015,90 of first
<br />mortggage bonds payable from enterprise funds. Under the Indiana Constitution and state statute,
<br />the C it s general obligation bonded debt issuances are subject to a legal limitation based upon 2%
<br />of total assessed value of real and personal property. Since Indiana's assessment statutes call for an
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