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<br /> Winter Park Water and Sanitation District
<br /> NOTES TO FINANCIAL STATEMENTS
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<br /> (continued)
<br /> December 31, 2010 and 2009
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<br /> Note 5— Long term obligations
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<br /> The following is an analysis of the changes in the District's long-term obligations for
<br /> the year ended December 31, 2010:
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<br /> Balance at Balance at Due
<br /> December 31, December 31, Within
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<br /> 2009 Additions Reductions 2010 One Year
<br /> General Obligation $ 877,000 $ - $ 49,000 $ 828,000 $ 52,000
<br /> Water Bonds I
<br /> Note Payable 98,165 48,120 50,045 50,045
<br /> State of Colorado
<br /> Note Payable 1,203,114 179,412 1,023,702 184,690
<br /> ICWRPDA
<br /> $ 2,178,279 $ - $ 276,532 $ 1,901,747 $ 286,735
<br /> The following is an analysis of the changes in the District's long-term obligations for
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<br /> the year ended December 31, 2009:
<br /> Balance at Balance at Due
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<br /> December 31, December 31, Within
<br /> 2008 Additions Reductions 2009 One Year
<br /> General Obligation $ 924,000 $ - $ 47,000 $ 877,000 $ 49,000
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<br /> Water Bonds
<br /> Note Payable 144,435 46,270 98,165 48,120
<br /> State of Colorado
<br /> Note Payable 1,377,249 174,135 1,203,114 179,412
<br /> CWRPDA
<br /> $ 2,445,684 $ - $ 267,405 $ 2,178,279 $ 276,532
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<br /> General Obligation Refunding Water Bonds
<br /> On April 1, 1982, the District issued $1,603,000 in general obligation refunding bonds,
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<br /> which were purchased by the Farmers Home Administration, to refund bonds issued
<br /> for the acquisition of a water distribution and treatment system. These bonds have
<br /> Ivarying maturities through October 1, 2022. They are paying 5% annual percentage
<br /> interest and were redeemable at the option of the District after April 1, 1993 at par.
<br /> All refunded bonds have been paid and accordingly, no defeased debt is outstanding.
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<br /> Note Payable—State of Colorado
<br /> The Colorado Water Conservation Board has advanced the District funds for the
<br /> construction of a water treatment and distribution system. The total amount advanced
<br /> 20 I
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