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CITY OF ORONO <br />NHTES TO FINANCIAL STATEMENTS (Continued) <br />December 31, 1989 <br />Note 5. LONG-TERM DEBT (continued) <br />C. Minimum Debt Payments <br />Minimum Annuax Principal and Interest Payments Required to Retire <br />Long-Term Debt, Excluding Vacation and Severance Benefits Payable: <br />Year Ending <br />December 31, <br />1990 <br />1991 <br />1992 <br />1993 <br />1994 <br />1995-2002 <br />General <br />Long-Term <br />Debt <br />Enterprise <br />Funt - ^Total <br />$ 423,188 $ 128,231 $ 551,419 <br />402,787 <br />241,863 <br />224,918 <br />212,884 <br />801,891 <br />146,550 <br />146,550 <br />316,212 <br />305,450 <br />2.495.726 <br />549,337 <br />388,413 <br />541,130 <br />518,334 <br />3.297.617 <br />$^.307.531 $3.538.719 $5.846.259 <br />D. Descriptions and Restrictions of lAng-Term Debt <br />® General Obligation Bonds - These bonds were issued to finance <br />various improvements and will be repaid from taxes and cpecial <br />assessments. All are backed by the full faith and credit of <br />the City. <br />* Refunding Bonds of 1976 - These bonds were issued to refund <br />the Improvement Bond? of 1970A. 1970B. and 1974. Ni if <br />these refunded issui were outstanding as 'emt* 1, <br />1989. <br />® Vac>*ion and Severance Benefits Payable liability <br />represents vested benefits earned by emplo>*..s other than <br />Proprietary Fund employees through the end of the year, which <br />will be paid or used in future periods. The liability for <br />Proprietary Fund employees is included in the accrued liabili­ <br />ties of those funds. <br />* G.O. Water and Sewer Revenue Bonds of 1989 - These bonds were <br />issued to finance improvements to the water and sewer systems <br />and will be rer^^in from net revenues of the water and sewer <br />systems, conn^cti?-? charges, and special assessments levied <br />against bene I it ted properties. Under the resolution <br />aut lorizing the sale of the bonds, each month the City is <br />required to credit to a Water and Sewer Bond Restricted Cash <br />Account an amount not less than one-twelfth of the total <br />amount of ,rincipal and interest on the bonds due and payable <br />the following year. Aujounts credited to the Water and Sewer <br />-38-• I <br />m