QUESTION 24

Revenue bonds to fund improvements to the town-owned electric utility $50 million, Conduit bonds issued to assist a fastfood franchisee to construct a restaurant for $7 million

The amount that the city should report as an obligation in its governmentwide statement of net position and its proprietary funds balance sheet is

1. GovernmentWide $57 million, Proprietary Fund $57 million
2. GovernmentWide$50 million, Proprietary Fund $50 million
3. GovernmentWide $ 0, Proprietary Fund $ 0
4. GovernmentWide $57 million , Proprietary Fund $