Note 11. Long-Term Debt

Long-term debt consisted of the following:

	March 31,		June 30,
(In thousands)	2015		2014
First National Bank of Cody mortgage	$	1,042	$	1,138
Less current portion	134		129
Long-term debt	$	908	$	1,009

Current Portion of Long-term Debt:

	March 31,		June 30,
(In thousands)	2015		2014
First National Bank of Cody mortgage	$	134	$	129

The Company is the primary beneficiary to a VIE called Realty. The VIE owns land and a building which is leased to Cody Labs. A mortgage loan with First National Bank of Cody has been consolidated in the Company’s financial statements, along with the related land and building. The mortgage requires monthly principal and interest payments of $15 thousand. As of March 31, 2015 and June 30, 2014, the effective interest rate was 4.5%. The mortgage is collateralized by the land and building with a net book value of $1.5 million.

Long-term debt amounts due for the twelve month periods ending March 31 were as follows:

	Amounts Payable
(In thousands)	to Institutions
2015	$	134
2016	140
2017	146
2018	153
2019	160
Thereafter	309
Total	$	1,042