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PINEWOOD SPRINGS WATER DISTRICT
<br /> NOTES TO FINANCIAL STATEMENTS
<br /> December 31,2011 and 2010
<br /> NOTE 5 - LONG TERM OBLIGATIONS - continued
<br /> Aggregate principal and interest on outstanding debt at December 31, 2011:
<br /> Principal Interest Total
<br /> 2012 $ 116,860 $ 140,485 $ 257,345
<br /> 2013 120,358 135,612 255,970
<br /> 2014 123,989 130,579 254,568
<br /> 2015 127,759 125,396 253,155
<br /> 2016 131,671 118,496 250,167
<br /> 2017-2021 646,867 524,184 1,171,051
<br /> 2022-2026 652,099 399,732 1,051,831
<br /> 2027-2031 528,921 284,079 813,000
<br /> 2032-2036 643,513 169,487 813,000
<br /> 2037-2039 451,238 36,562 487,800
<br /> $ 3,543,275 $ 2,064,612 $ 5,607,887
<br /> NOTE 6-LONG TERM LEASE OBLIGATION
<br /> On May 26, 2011 the District entered into a capital lease with Municipal Finance to
<br /> purchase a 2011 Ford truck in the amount of$26,871. The lease has an annual interest rate of
<br /> 5% and lease payments in the amount of $430 beginning June 6, 2011 and ending April 6,
<br /> 2015 for a total of 46 payments. The District made an advance payment of$9,000 on May 5
<br /> 2011.
<br /> Principal Interest Total
<br /> 2012 $ 3,916 $ 765 $ 4,681
<br /> 2013 4,588 532 5,120
<br /> 2014 4,883 273 5,156
<br /> 2015 1,526 23 1,549
<br /> $ 14,913 $ 1,593 $ 16,506
<br /> NOTE 7-SUBSEQUENT REVIEW
<br /> Subsequent events have been evaluated through July 24, 2012, which was the date the
<br /> financial statements were available to be issued.
<br /> Page 23
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