Note 11. Long-Term Debt

Long-term debt consisted of the following:

	June 30,		June 30,
(In thousands)	2015		2014
First National Bank of Cody mortgage	$	1,009	$	1,138
Less current portion	135		129

Long-term debt	$	874	$	1,009

Current Portion of Long Term Debt:

	June 30,		June 30,
(In thousands)	2015		2014
First National Bank of Cody mortgage	$	135	$	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 June 30, 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 June 30 were as follows:

	Amounts Payable
(In thousands)	to Institutions
2016	$	135
2017	141
2018	148
2019	154
2020	162
Thereafter	269

Total	$	1,009