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Capital Asset and Debt Administration

Capital Assets

The City’s investment in capital assets for its governmental and business-type activities as of June 30, 2010 amounted to $358,275,633 net of accumulated depreciation. This investment in capital assets includes land and improvements, buildings and improvements, distribution systems, furniture, vehicles, equipment and infrastructure. The change in the City’s investment in capital assets for the current fiscal year was an increase of $17,951,758, or 8.6%, for governmental activities and an increase of $4,482,095, or 3.5%, for business-type activities. The increase for governmental activities was primarily due to a construction project on the former air force base. The increase for business-type activities was primarily due to developer contributions to the distribution systems.

Total Primary

Government

2010

2009

THE CITY’S CAPITAL ASSETS (Net of Accumulated Depreciation)

Governmental Activities

2010

2009

Business-Type Activities

2010

2009

Improvements

51,297,838

53,406,319

5,509,126

5,817,846

56,806,964

59,224,165

Distribution Systems

100,676,483

94,278,124

100,676,483

94,278,124

Construction-in-Progress

2,110,233

5,623,158

570,531

1,794,971

2,680,764

7,418,129

$ 226,805,191

$ 208,853,433

$ 131,470,442

$ 126,988,347

$ 358,275,633

$ 335,841,780

Land Land Improvements Buildings and

377,932

13,130,290

14,388,718

101,560,958

94,970,375

277,275

$ 47,232,494

$ 47,232,494

36,187,680

18,329,775

12,853,015

14,010,786

101,560,958

94,970,375

Furniture, Vehicles and

Equipment Infrastructure

18,685,751

$

18,685,751

5,751,276

6,033,723

$

$ 28,546,743

$ 28,546,743

30,436,404

12,296,052

More detailed information about the City’s capital assets is presented in Note 9 to the financial statements.

Debt

At year-end, the City had $195,273,209 in outstanding bonds payable, note payable and capital lease obligations compared to $188,168,899 last year, an increase of 3.8%.

Revenue Bonds

11,710,000

11,710,000

11,710,000

11,710,000

Certificates of Participation

12,840,000

15,210,000

5,760,000

6,265,000

18,600,000

21,475,000

Bonds Note Payable Capital Lease Obligations

49,660,000 1,947,500 5,087,663

49,660,000 2,897,500 4,978,682

49,660,000 1,947,500 5,087,663

49,660,000 2,897,500 4,978,682

$

177,803,209

$170,193,899 $

17,470,000 $

17,975,000 $ 195,273,209

$ 188,168,899

Bonds Storm Water Revenue

50,434,821

39,584,836

Bonds Hospitality Fee Revenue

12,053,225

9,727,881

THE CITY’S OUTSTANDING DEBT Bonds Payable, Note Payable and Capital Lease Obligations

50,434,821

39,584,836

12,053,225

9,727,881

General Obligation Bonds $

Tax Increment Revenue

Total Primary Government

2010

2009

$ 45,780,000 $ 48,135,000

Governmental Activities

2010

2009

45,780,000 $ 48,135,000 $

Business-Type Activities

2010

2009

$

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    9-

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