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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2006 <br />NOTE 12 - LONG-TERM LIABILITIES - Continued <br />B. Discretely Presented Component Unit - Continued <br />Annual Debt Service Payments - Housing Authority <br />The annual debt service payments for bonds outstanding at September 30, 2006, are as follows: <br />Fiscal Year Ending_ September 30 <br />Payment Amount <br />2007 <br />$ 439,488 <br />2008 <br />219,084 <br />2009 <br />218,994 <br />2010 <br />219,064 <br />2011 <br />219,114 <br />2012-2016 <br />1,096,220 <br />2017-2021 <br />880,5404 <br />2022-2023 <br />150,628 <br />3,443,132 <br />Less: Amount representing interest <br />(274,732) <br />Total principal <br />3,168,400 <br />Less: Current principal <br />(378,000) <br />a <br />Total <br />400 <br />&Z-790,400 <br />C. Summary of Defeased Debt Outstanding <br />The following outstanding revenue bonds are legally defeased. Since governmental obligations are held <br />in escrow for the payment of principal and interest, the bonds are not liabilities of the County. <br />Outstanding <br />Retired Outstanding <br />at <br />During at <br />September 30, <br />Fiscal Year September 30, <br />2005 <br />2006 2006 <br />Capital Improvement Revenue <br />Bonds: Series 1980 $ 1,890,00.0 <br />$250,000 1,640,000 <br />Water and Sewer Revenue <br />Bonds: Series 1996 $ 31,680,000 <br />31,680,000 $ - <br />a83 <br />