VILLAGE OF GRAFTON NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2016 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) F. LONG-TERM OBLIGATIONS (cont.) General Obligation Debt (cont.) Debt service requirements to maturity are as follows: Governmental Activities Business-type Activities General Obligation Debt General Obligation Debt Years Principal Interest Principal Interest 2017 $ 2,683,764 $ 856,976 $ 580,377 $ 184,949 2018 2,465,584 759,624 589,927 136,857 2019 2,957,739 782,550 449,270 117,620 2020 3,046,692 601,827 465,934 105,946 2021 2,850,625 535,715 477,994 93,726 2022-2026 15,429,052 1,546,918 1,994,488 305,102 2027-2031 2,355,000 76,831 805,000 132,031 2032-2035 - - 710,000 35,913 Totals $ 31,788,456 $ 5,160,441 $ 6,072,990 $ 1,112,144 Revenue Debt Business-type activities revenue bonds are payable only from revenues derived from the operation of the water and wastewater utilities. The water utility has pledged future water revenues to repay revenue bonds issued in prior years. Proceeds from the bonds provided financing for the waterworks system. The bonds are payable solely from water utility revenues and are payable through 2026. Annual principal and interest payments on the bonds are expected to require 5.44% of gross revenues. The total principal and interest remaining to be paid on the bonds is $474,135. Principal and interest paid for the current year and total customer gross revenues were $47,299 and $879,043, respectively. The wastewater utility has pledged future wastewater revenues to repay revenue bonds issued in prior years. Proceeds from the bonds provided financing for the treatment facility. The bonds are payable solely from wastewater utility revenues and are payable through 2026. Annual principal and interest payments on the bonds are expected to require 8.67% of gross revenues. The total principal and interest remaining to be paid on the bonds is $773,589. Principal and interest paid for the current year and total customer gross revenues were $77,172 and $899,425, respectively. 74