1991-151 - Laserfiche WebLink

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el INDIAN RIVER COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS - CONTINUED Year Ended September 30, 1990 6. Long -Term Debt - Continued: F. Capital Leases and Notes Payable - Continued The following is an analysis of the leased property under capital leases: Type of Property Computer equipment Copier equipment Automotive equipment Communication equipment Board of County Property Commissioners Sheriff Appraiser Total S 475,775 84,837 X5560.612 $ - $251,120 $251,120 49,825 49,825 475,775 84,837 S49.825 S251.120 S861.557 The equipment listed above is recorded in the General Fixed Assets Account Group. (2) Enterprise Funds Capital Leases - The County has entered into two lease - purchase agreements to purchase golf course equipment with a lease term of 48 months. This equipment is recorded in the County's Golf Course Enterprise Fund as depreciable assets. The following is a schedule of future minimum lease payments under these capital leases, together with the present value of the net minimum lease payments, as of September 30, 1990: Year Ending September 30, 1991 1992 Total Minimum Lease Payments Less: Amount representing interest Present Value of Net Minimum Lease Payments Less: Current portion $ 31,637 31,637 817 30,820 30,820 (3) Housing Authority Note Payable - At September 30, 1990, the Authority had a note payable, collateralized by land, of $237,515 to Housing Assistance Council, Inc. with interest at 7.75%. The note matures on the earlier of the closing of funding for a new project or March 20, 1991. The note may be renewed at the option of the Housing Assistance Council. The land purchased will be used to construct another 100 -unit, low -rent, multi- family housing facility (Note 15). 39