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I <br />i <br />�. �; <br />,., . _ . „ <br />i ' <br />I � <br />TOWN OF DEBEQUE, COLORADO <br />NOTES TO FINANCIAL STATEMENTS - continued ' <br />December 31, 2005 I ' <br />I' <br />NOTE D - LONG-TERM DEBT � � <br />Long term liability activity for the year ended December 31, 2005 was as follows: <br />Beginning ' Ending Current ' <br />Balance Additions Reductions Balance Portion <br />Business-Type Activities --� <br />Water Fund Notes Payable $ 197,074 $ - $(18,261� $ 178,813 $ 20,049 � <br />Water Fund Contract Payable 69,715 - (4,068� 65,647 4,191 <br />$ 266,789 $ - $ (22,329) $ 244,460 $ 24,240 <br />� <br />The Town's governmental activities have no long-term debt, and a11 cqmpensated absence accruals <br />have consistently been treated as a current liability. , ' <br />Long-term debt outstanding in proprietary funds at year-end consist o�': <br />', ,: <br />Note payable to Colarado Department of Local Affairs, bearing inter�st at 5%, payable <br />September, l annually through 2010 ', $ 82,652 <br />C.:, < ;'. S � '" <br />in interest at 5% a able ' <br />Note payable to Colorado Department of Loca1 Affa,irs, bear g , , p y <br />September, 1 annually through 2019 '� �---96�16'I yr', z L ,- * , <br />i ' ' <br />Contract payable to US Department of the Interior, Bureau of Recl�tion, interest at <br />3%, payable in annual installment through 2019 65,647 � <br />', $ 244,460 <br />� � <br />i <br />i� <br />' <br />' ' <br />� , <br />� <br />� <br />21 ', � <br />' <br />