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i <br /> Personal Property <br /> p y l <br /> 1994 50 <br /> 1993 34 <br /> 1992 and prior 94 <br /> 178 <br /> Allowance for Abatements and Exemptions (1,204) <br /> Motor Vehicle Excise <br /> 1994 138 <br /> 1993 45 <br /> 1992 and prior 134 <br /> 317 ; <br /> Boat Excise <br /> 1994 13 <br /> 1993 7 <br /> 1992 and prior 21 <br /> 41 <br /> Total Taxes and Excises Receivable $ 1,263 <br /> i <br /> i <br /> 6. Long-Term Debt <br /> The Town's long-term debt issues constitute a pledge of the Town's full faith <br /> and credit. Payment is not limited to a particular revenue source. However, <br /> as previously noted, the Town's ability to raise property taxes is restricted by <br /> the enactment of legislation known as "Proposition 2 1/2". <br /> A. Changes in General Obligation Bonds Payable <br /> The following is a summary of bond transactions of the Town for the year <br /> ended June 30, 1994: <br /> Long-term debt, July 1, 1993 $ 14,001,400 j <br /> New bond issues 560,000 <br /> Bonds retired ( 2,411,900) <br /> ! i <br /> Long-term debt, June 30, 1994 $ 12,149,500 <br /> , f <br /> The following is a summary of long-term debt at June 30, 1994: <br /> 13 <br />