Note 12. Long-Term Debt

Long-term debt consisted of the following:

	September 30,		June 30,
(In thousands)	2015		2015
First National Bank of Cody mortgage	$	976	$	1,009
Less current portion	137		135

Long-term debt	$	839	$	874

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 September 30, 2015 and June 30, 2015, 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 September 30 were as follows:

	Amounts Payable
(In thousands)	to Institutions
2016	$	137
2017	143
2018	149
2019	156
2020	164
Thereafter	227

Total	$	976