Tinsel Town had the following long-term liabilities at year-end:

Revenue bonds to be repaid from tolls collected by the super highway enterprise fund $250,000 and General obligation bonds issued for the Tinsel Town water utility, which will service the debt $200,000.

What amount should be recorded as long-term liabilities in the proprietary fund financial statements?

1. $0
2. $200,000
3. $250,000
4. $450,000