HomeMy WebLinkAboutNC Comprehensive Report (Finance) (59)CITY OF NATIONAL CITY
Notes to the Basic Financial Statements
(Continued)
(7) Long -Term Debt, (Continued)
A ten year contract was entered into on March 24,
wheel loader. Annual payments of principal and
June 30, 2012 was $42,309.
Amount of future lease payments
for the year ending June 30,
2006 for the purchase of a Caterpillar
interest are $12.308. The balance at
CAT
Honeywell 800 MHz Loader
Lease Radio System Equipment
2013 $172,405 194,713 12,308
2014 172,405 194,713 12,308
2015 172,404 97,135 12,308
2016 172,404 9,231
2017 172,404
2018 172,405
2019 172,404
2020 172,405
2021 172,404
2022 172,405
2023 172,404
2024 172,404
2025 172,405
Less amount representing interest
Total
379,426
379,426
281,847
181,635
172,404
172,405
172,404
172,405
172,404
172,405
172,404
172,404
172,405
(595,681) (26,970) (3,846) (626,497)
Present value of future lease payments $1.645,577 459,591 42,309 2,147,477
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