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Indian River County, Florida <br />NOTES TO FINANCIAL. STATEMENTS - Continued <br />Year Ended September 30,1995 <br />NOTE 8 - LONG-TERM DEBT - Continued <br />G. Capital Leases and Notes Payable <br />General Long -Term Debti al Leages <br />The County has entered into several lease -purchase agreements to purchase various types of equipment <br />with lease terms varying from 24-60 months. <br />The following is a schedule of future minimum lease payments under capital leases, together with the <br />present value of the net minimum lease payments, as of September 30,1995: <br />Year Ending <br />Property <br />September 30; <br />Appraise <br />Tax Collector <br />Total <br />1996 <br />$ 57,436 <br />$ 57,620 <br />$115,056 <br />1997 <br />45,317 <br />57,620 <br />102,937 <br />1998 <br />38,022 <br />57,620 <br />95,642 <br />1999 <br />- <br />57,620 <br />57,620 <br />2000 <br />43.216 <br />43.216 <br />Total Minimum Lease <br />Payments <br />140,775 <br />273,696 <br />414,471 <br />Less: Amount representing <br />interest <br />11193 <br />39.069 <br />50.262 <br />Present Value of Net <br />Minimum Lease Payments <br />S 12 <br />5234627 <br />S3 <br />The following is an analysis of the leased property under capital leases: <br />Capitalized Cost <br />Type of <br />Property <br />Propcm <br />ARptahei <br />Tax Collector <br />IQW <br />Computer equipment <br />$469,904 <br />$249,033 <br />$718,937 <br />Automotive equipment <br />21'348 <br />549 <br />49.033 <br />21-349 <br />874 <br />The equipment listed above is recorded in the General Fixed <br />Assets Account Group. <br />48 <br />