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Figure 7 <br />Net Change in Capital Assets <br />(millions) <br />Land. Easements. & ClP <br />Water Rights <br />Buildings <br />Infrastructure <br />Machinery & Equipment <br />Total <br />Governmental Business -type Total <br />Activities Activities Total % Of <br />2014 2013 2014 2013 2014 2013 Change <br />$ 37.8 $ 34.6 $ 12.7 $ 4.7 $ 50.5 $ 39.3 28.5% <br />31.4 31.4 31.4 31.4 0.0% <br />24.1 23.4 1.2 1.2 25.3 24.6 2.8% <br />90.6 86.1 67.8 64.9 158.4 151.0 4.9% <br />7.1 6.7 3.2 3.0 10.3 9.7 6.2% <br />$159.6 F $150.8 $116.3 $105.2 $275.9 $256.0 7.8% <br />Long-term Debt <br />On October 23, 2014, the Urban Revitalization District (Louisville Revitalization Commission) <br />issued $750,000 of Tax Increment Financing Bonds for the DELO Project. The District is a <br />blended component unit of the City and the debt does not constitute a direct obligation of the <br />City. <br />Figure 8 <br />Net Change in Long -Term Debt <br />(millions) <br />General Obligation Bonds <br />Revenue Bonds & Notes <br />Tax increment Financing Bonds <br />Total <br />Governmental Business -type Total <br />Activities Activities Total % Of <br />2014 2013 2014 2013 2014 2013 Change <br />$ 3.2 $ 3.8 <br />0.8 - <br />a0 $ 3838 <br />$ - $ - $ 3.2 $ 3.8 -15.1% <br />7.7 8.4 7.7 8.4 -8.0% <br />- - 0.8 - <br />$ 7.7 8.4 $ 11.7 $ 12.2 -4.1% <br />Additional information on the City's long-term debt is provided in Note 7 to the financial <br />statements. <br />Bond Ratings <br />The 2004 Library Limited Tax General Obligation Library Bonds were issued with an insured <br />rating (MBIA) from Standard & Poor's of AAA and an underlying rating of AA-. In early 2011, <br />Standard & Poor's increased the underlying rating to AA. In early 2014, Standard & Poor's <br />again increased the underlying rating to AA+ <br />19 <br />