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Indian River County , Florida <br /> Notes To Financial Statements <br /> Year Ended September 30 , 2007 <br /> NOTE 12 - LONG-TERM LIABILITIES - Continued <br /> Be Discretely Presented Component Unit - Continued <br /> Annual Debt Service Payments - Housing Authority <br /> The annual debt service payments for bonds outstanding at September 30 , 2007 , are as follows : <br /> Fiscal Year Ending September 30 Payment Amount <br /> 2008 $ 219 , 084 <br /> 2009 218 , 994 <br /> 2010 219 , 064 <br /> 2011 219 , 114 <br /> 2012 219 , 144 <br /> 2013 -2017 1 , 0975070 <br /> 2018 - 2022 736 , 030 <br /> 2023 75 , 144 <br /> 3 , 003 , 644 <br /> Less : Amount representing interest (213244) <br /> Total principal 25790 , 400 <br /> Less : Current principal ( 1919000) <br /> Total $ 2 , 599 , 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 Retired Outstanding <br /> at During at <br /> September 30 , Fiscal Year September 30 , <br /> 2006 2007 2007 <br /> Capital Improvement Revenue <br /> Bonds : Series 1980 $ 1 , 640 , 000 275 000 $ 1 , 365 , 000 <br /> 83 <br />