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INDIAN RIVER COUNTY, FLORIDA <br />NOTES TO FINANCIAL STATEMENTS - CONTINUED <br />Year Ended September 30, 1988 <br />6. Long -Term Debt - Continued: <br />F. Capital Leases and Note Payable - Continued <br />The following is an analysis of the leased property under capital leases: <br />Capitalized Cost <br />Board of Clerk of <br />Type of County the Circuit Tax <br />Property Commissioners Court Sheriff Collector Total <br />Computer equip- <br />ment S - $225,695 $ - $ 71,010 $296,705 <br />Copier equip- <br />ment - 2,745 12,143 - 14,888 <br />Automotive <br />equipment 107,790 - - - 107,790 <br />Communication <br />equipment 84,837 - - 84,837 <br />S19�627 S228,440 $12,143 5 71,010 $504,220 <br />The equipment listed above is recorded in the General Fixed Assets Account <br />Group. <br />(2) Enterprise Funds Capital Leases - The County has entered into two lease - <br />purchase agreements to purchase golf course equipment with a lease term of <br />48 months. This equipment is recorded in the County's Golf Course <br />Enterprise Fund as depreciable assets. <br />The following is a schedule of future minimum lease payments under these <br />capital leases, together with the present value of the net minimum lease <br />payments, as of September 30, 1988: <br />Year Ending <br />September 30, <br />1989 S 52,645 <br />1990 52,645 <br />1991 31,637 <br />Total Minimum <br />Lease Payments 136,927 <br />Less: Amount representing <br />interest 11,952 <br />Present Value of Net <br />Minimum Lease Payments S124,975 <br />38. <br />