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Elk River Municipal Utilities <br />Elk River, Minnesota <br />Notes to the Financial Statements <br />December 31, 2021 <br /> <br />Note 2: Detailed Notes on All Funds (Continued) <br /> <br />Depreciation expense was charged to functions/programs of the Utilities as follows: <br /> <br />Construction Commitment <br />The Utilities had the following outstanding construction commitment ad December 31, 2021: <br /> <br />C.Long-term Debt <br />General Obligation Revenue Bonds <br />The City of Elk River issues general obligation bonds to provide funds for the acquisition and construction of major capital <br />facilities. The following bonds are to be paid out of Utilities revenues and are backed by the full faith and credit of the <br />City. <br /> <br /> <br />37 <br />109 <br />