Partners' Capital

12 Months Ended

Dec. 31, 2021

Partners' Capital Notes [Abstract]

Partners' Capital Notes Disclosure [Text Block]

(6)  Partners’ Capital –

For the years ended December 31, 2021 and 2020, the Partnership declared distributions of $613,731 and $567,269, respectively. The Limited Partners received distributions of $607,594 and $561,596 and the General Partners received distributions of $6,137 and $5,673 for the years, respectively. The Limited Partners' distributions represented $33.70 and $29.89 per Limited Partnership Unit outstanding using 18,029 and 18,791 weighted average Units in 2021 and 2020, respectively. The distributions represented $14.12 and $29.89 per Unit of Net Income and $19.58 and $0 per Unit of contributed capital in 2021 and 2020, respectively.

The Partnership may repurchase Units from Limited Partners who have tendered their Units to the Partnership. Such Units may be acquired at a discount. The Partnership will not be obligated to purchase in any year any number of Units that, when aggregated with all other transfers of Units that have occurred since the beginning of the same calendar year (excluding Permitted Transfers as defined in the Partnership Agreement), would exceed 5% of the total number of Units outstanding on January 1 of such year. In no event shall the Partnership be obligated to purchase Units if, in the sole discretion of the Managing General Partner, such purchase would impair the capital or operation of the Partnership.

On April 1, 2021, the Partnership repurchased a total of 843.97 Units for $610,604 from 36 Limited Partners in accordance with the Partnership Agreement. The Partnership acquired these Units using net sales proceeds. On October 1, 2021, the Partnership repurchased a total of 518.17 Units for $389,248 from 39 Partners. The Partnership acquired these Units using net sales proceeds. The repurchases increase the remaining Limited Partners' ownership interest in the Partnership. As a result of these repurchases and pursuant to the Partnership Agreement, the General Partners received distributions of $10,100 in 2021. During 2020, the Partnership did not repurchase any Units from Limited Partners.