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OTHER OBLIGATIONS - CAPITAL LEASES AND NOTES PAYABLE <br />Capital Lease Obligations: <br /> <br />The City has lease agreements as lessee for financing the acquisition of equipment. These lease agreements qualify <br />as capital leases for accounting purposes and, therefore, have been recorded at the present value of the future minimum <br />lease payments as of the date of their inception. The following is a schedule of the future minimum lease payments under <br />these capital leases, and the present value .of the net minimum lease payments at September 30, 2000. <br /> <br />TABLE 3 <br /> <br />Year Ending Sept 30 General Obli.qation Water and Sewer <br /> 2001 $ 98,555 $ 36,228 <br /> 2002 83,093 20,855 <br /> 2003 38,177 15,731 <br /> 2004 18,465 15,731 <br /> 2005 12,311 6,555 <br /> Total minimum lease payments $ 250,601 $ 95,100 <br /> Less: amount representing interest (22,064) (9,397) <br /> Present value of future minimum <br /> lease payments $ 228,537 $ 85,703 <br /> <br />COMPUTATION OF WATERWORKS AND SEWER SYSTEM SELF-SUPPORTING DEBT <br /> <br />TABLE 4 <br /> <br />Net System Revenues Available, Fiscal Year End September 30, 2000 <br />Less: 2001 Annual Debt Service Requirements on Outstanding Revenue Bonds <br /> Balance Available for System General Obligation Bonds <br /> <br />Estimated System General Obligation Debt for Fiscal Year Ended September 30, 2001 <br />Balance Available for Other Purposes <br /> <br />Percentage of System General Obligation Debt Self-Suppor[ing <br /> <br />5,131,3~7 <br />2,168,268 <br /> <br />2,963,130 <br />,802,364 <br />1,160,766 <br />100% <br /> <br />A-2 <br /> <br /> <br />