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CITY OF SOUTH BEND <br />NOTES TO FINANCIAL STATEMENTS <br />(Continued) <br />2006 <br />2007 <br />2008 <br />2009 <br />2010 <br />2011-2015 <br />Total minimum lease payments <br />Less amount representing interest <br />Present value of net minimum lease payments <br />Governmental Business -Type <br />Activities Activities <br />$ 889,595 $ <br />443,482 <br />795,190 <br />443,482 <br />630,988 <br />443,482 <br />457,803 <br />343,410 <br />328,901 <br />171,745 <br />1,000,000 <br />- <br />4,102,477 1,845,561 <br />647,850 135,528 <br />1 AKA a77 @ 4 '71n n44 <br />Assets acquired through capital leases still in effect are as follows: <br />Buildings <br />Improvements other than buildings <br />Machinery and equipment <br />Totals <br />Accumulated depreciation <br />Totals <br />Governmental Business -Type <br />$ 1,940,044 $ <br />587,801 - <br />2,525,113 1,006,187 <br />5,052,958 1,006,187 <br />842,196 95,937 <br />(Z A9107R) (t a1n7rn <br />"Additional assets under capital leases totaling $1,024,984, with individual costs less than the <br />capital asset threshold of $5,000, are not included in this amount. <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 />43 <br />