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Indian River County , Florida Management ' s Discussion and Analysis For the Year Ended September 30 , 2007 Indian River County Capital Assets (Net of Depreciation, In Millions) Governmental Business-type Activities Activities Total 2007 2006 2007 2006 2007 2006 Land $ 114 . 6 $ 83 . 5 $ 18 . 4 $ 18 . 4 $ 133 . 0 $ 101 . 9 Right- of-way 20 . 0 15 . 9 - - 20 . 0 15 . 9 Buildings and improvements 144 . 7 62 . 2 182 . 7 173 . 8 327 . 4 236 . 0 Equipment 31 . 8 28 . 8 7 . 3 7 . 4 39 . 1 36 . 2 Infrastructure 67 . 4 68 . 2 - - 67 . 4 68 . 2 Construction in progress 69 . 1 96 . 9 30 . 8 20 . 1 99 . 9 117 . 0 Total $ 447 . 6 $ 355 . 5 $ 239 . 2 $ 219 . 7 $ 686 . 8 $ 575 . 2 Additional information on the County ' s capital assets can be found in Note 6 on page 67 of this report . Long-term debt At the end of the current fiscal year, the County had total bonded debt outstanding of $ 137 . 0 million . Of this amount, $ 58 . 5 million is debt backed by the full faith and credit of the government. The revenue bonds represent bonds secured solely by specified revenue sources . Indian River County ' s Outstanding Debt General Obligation and Revenue Bonds (In Millions) Governmental Business -type Activities Activities Total General Obligation Debt : 2007 2006 2007 2006 2007 2006 General Obligation, Series 2001 $ 7 . 4 $ 8 . 0 $ - $ - $ 7 . 4 $ 8 . 0 General Obligation Ref. , Series 2003 3 . 5 4 . 7 - - 3 . 5 4 . 7 Limited General Oblig . , Series 2006 47 . 6 50 . 0 - - 47 . 6 50 . 0 Revenue Bonds : Spring Training Facility , Series 2001 14 . 0 14 . 5 - - 14 . 0 14 . 5 Recreational Revenue Ref , Series 2003 - - 4 . 6 5 . 1 4 . 6 5 . 1 Water and Sewer Ref. Rev . , Series 1993A - - 33 . 0 34 . 2 33 . 0 34 . 2 Water and Sewer Ref. Rev . , Series 2005 - - 26 . 9 28 . 2 26 . 9 28 . 2 Total $ 72 . 5 $ 77 . 2 $ 64 . 5 $ 67 , 5 $ 137 . 0 $ 144 . 7 12