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Indian River County, Florida <br /> Notes To Financial Statements <br /> Year Ended September 30 , 2002 <br /> NOTE 12 - LONG-TERM LIABILITIES - Continued <br /> D. Capital Leases and Notes Payable <br /> Governmental Activities <br /> The County has entered into several lease-purchase agreements to purchase various types of equipment and <br /> furniture 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 present <br /> value of the net minimum lease payments, as of September 30, 2002 : <br /> Board of <br /> Year Ending County Tax <br /> September 30 , Commissioners Collector Total <br /> 2003 $ 300, 199 $ 709586 $ 3705785 <br /> 2004 203 , 535 525244 255 , 779 <br /> 2005 - 525244 523244 <br /> 2006 - 523244 52 ,244 <br /> 2007 - 52 ,245 521245 <br /> Thereafter - 395183 39, 183 <br /> Total Minimum Lease <br /> Payments 503 , 734 318 , 746 8229480 <br /> Less : Amounts representing <br /> interest 32 , 546 35 , 925 68 ,471 <br /> Present Value of Net <br /> MinimumLease Payments $ 471 , 188 $ 2825821 $ 754,009 <br /> The following is an analysis of the leased property under capital leases : <br /> Capitalized Cost <br /> Board of <br /> County Tax <br /> Type of Property Commissioners Collector Total <br /> Computer equipment $ - $ 5135961 $ 5139961 <br /> Firetrucks 1 , 310, 055 - 1 , 3103055 <br /> Total $ 19310, 055 $ 513 , 961 $ 15824 , 016 <br /> Monthly payments for the computer equipment leases are made by the General Fund. Annual payments for the firetruck <br /> leases are made by the Emergency Services District Fund. <br /> 72 <br />