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Elk River Municipal Utilities <br />Elk River, Minnesota <br />Notes to the Financial Statements <br />December 31, 2022 <br />Note 2: Detailed Notes on All Funds (Continued) <br />Changes in Long-term Liabilities <br />Long-term liability activity for the year ended December 31, 2022 was as follows: <br />Beginning <br />Ending <br />Due Within <br />Balance Increases Decreases <br />Balance <br />One Year <br />Business -type Activities <br />Bonds Payable <br />General obligation <br />revenue bonds <br />$ 1,885,000 $ - $ (320,000) <br />$ 1,565,000 <br />$ 60,000 <br />Revenue bonds <br />29,930,000 - (1,055,000) <br />28,875,000 <br />915,000 <br />Unamortized premium <br />on bonds <br />1,506,138 - (67,418) <br />1,438,720 <br />- <br />Total Bonds Payable, Net <br />33,321,138 - (1,442,418) <br />31,878,720 <br />975,000 <br />Notes Payable <br />209,124 - (209,124) <br />- <br />- <br />Compensated <br />Absences Payable <br />413,565 469,874 (406,639) <br />476,800 <br />476,800 <br />Business -type Activity <br />Long-term <br />Liabilities <br />$ 33,943,827 $ 469,874 $ (2,058,181) <br />$ 32,355,520 <br />$ 1,451,800 <br />40 <br />123 <br />