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Notes Receivable
9 Months Ended
Sep. 30, 2017
Receivables [Abstract]  
Notes Receivable

5. NOTES RECEIVABLE:

As further discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, in connection with the development of Gaylord National, the Company is currently holding two issuances of governmental bonds and receives debt service thereon, payable from property tax increments, hotel taxes and special hotel rental taxes generated from Gaylord National through the maturity date. The Company is recording the amortization of discount on these notes receivable as interest income over the life of the notes.

During the three months ended September 30, 2017 and 2016, the Company recorded interest income of $2.9 million and $3.0 million, respectively, on these bonds. During the nine months ended September 30, 2017 and 2016, the Company recorded interest income of $8.7 million and $9.0 million, respectively, on these bonds. The Company received payments of $11.1 million during each of the nine months ended September 30, 2017 and 2016, respectively, relating to these notes receivable. See additional discussion regarding the fair value of these notes receivable in Note 14.