On January 1, 2010, approval was obtained to begin construction of a new city hall. As a result of this approval, $2,800,000 in 5-year serial bonds... Full question attatched

Capital Projects Funds and Debt Service Funds Fund-based 1. Governmental-based On January 1, 2010, approval was obtained to begin construstion of a new city hall. As a result of this approval, $2,800,000 in 5-year serial bonds,which a face interest rate of 7%, were sold at 104 (an effective rate of 6%). Principal and interest payments are made semiannually beginning July 1, 2010.The premium is to be used for debt payments for principal and interest. January 1, 2010 CPF GT DSF 2. On January 3, 2010, a $2,800,000 contract with GoodBuild Construction was signed for the construction. January 3, 2010 CPF 3. GT On June 30, 2010, a bill for $1,400,000 was received from GoodBuild as a result of one-half of the work on the construction being completed. June 30, 2010 CPF GT CPF GT 4. On July 1, 2010, the first debt payment for capital project bond was made. July 1, 2010 DSF 5. GT On July 15, 2010, the bill from GoodBuild was paid , less a 10% retainage to ensure performance. July 15, 2010 CPF 6. GT On October 1, 2010, a bill for $1,400,000 was received from GoodBuild in recognition of the completion of work on the city hall addition Oct. 1, 2010 CPF GT CPF GT 7. On November 3, 2010, after approval by the city inspectors, all amounts owed to GoodBuild were paid. Nov. 3, 2010 CPF 8. GT On January 1, 2011, the next payment on the capital project bond was made. Jan. 1, 2011 DSF 9. GT On August 1, 2012, the city entered into a capital lease agreement to purchase new equipment for its road crews. The agreement called for an initial payment of $12,000, with eight more equil annual payments of $15,000 beginning August 1, 2013. The city's normal cost of borrowing is 8%. The initial payment was made as agreed and the equipment was purchased. The General Fund handled all activities related to this transaction. Aug. 1, 2012 GF 10. GT On August 1, 2013, the first annual payment is made on the capital lease agreement. Aug. 1, 2013 DSF 11. GT On December 31, 2013, depreciation of $300,000 is recorded as appropriate for all govermental capital assets. Dec. 31, 2013 DFS GT