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Exhibit M TOWN OF MASHPEE NOTES TO FINANCIAL STATEMENTS. YEAR ENDED JUNE- 30,1978 either the normal debt limit or double debt limit. As of June 30, 1978, the Town of Mashpee has the following General Obligation Bonds outstanding: Samuel G. Davis School Bond - This issue requires principal payments of $6,000 a year and will be retired by 1982. 3 Library Bond - This bond requires principal j payments of $1,000 a year and is programmed to be retired by 1985 . School Project Loan, Act of 1948 - This issue requires principal payments on February 1. in each fiscal year as follows: i 5 $200,000 per year to 1980 inclusive; $19000 from 1981 to 1986 inclusive and $190,000 from 1987 to 1996 inclusive. School Planning Bonds - This issue requires principal payments on February 1 in each year as follows: fiscal $85,000 per year to 1980 inclusive;- and j t ifihj5ij i` $40,000 on February 1, 1981. School Bonds - This issue requires principal payments on February 1 in each year as follows: $15,000 per year ' to 1986 inclusive and $10,000 from 1987 to 1996 inclusive. 4. CONTINGENCIES - The filing of the action entitled Mashpee Tribe vs. New Seabur ry Corp. et al on August 23, 1976 has had tr' a substantial effect on the town' s economy. The suit alleges violation of the Indian Nonintercourse Act, 25U.S.C. §177. and seeks an order that the plaintiff tribe be restored to immediate possession of land constituting substantially all of the land comprising the Town of Mashpee, except any portion thereof which constituted the actual site of the principal place of residence of any individual at the time of commencement of the action. This suit was tried before the United States District Court and a judgement was entered by the Court dismissing i the action. This judgement is presently being appealed by the Mashpee Tribe. 'j `„nR�es E. DiPEsa& Co.. BosTorv, Mwss, (617) 423-3555