Partners' Capital

12 Months Ended

Dec. 31, 2022

Partners' Capital Notes [Abstract]

Partners' Capital Notes Disclosure [Text Block]

(6)  Partners’ Capital –

For the years ended December 31, 2022 and 2021, the Partnership declared distributions of $690,407 and $613,731, respectively. The Limited Partners received distributions of $683,503 and $607,594 and the General Partners received distributions of $6,904 and $6,137 for the years ended December 31, 2022 and 2021, respectively. The Limited Partners' distributions represented $39.82 and $33.70 per Limited Partnership Unit outstanding using 17,165 and 18,029 weighted average Units in 2022 and 2021, respectively. The distributions represented $39.82 and $14.12 per Unit of Net Income and $0 and $19.58 per Unit of contributed capital in 2022 and 2021, 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, 2022, the Partnership repurchased a total of 352.29 Units for $266,947 from 30 Limited Partners in accordance with the Partnership Agreement. The Partnership acquired these Units using Net Cash Flow from operations. 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 Limited 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 $2,696 and $10,100 in 2022 and 2021, respectively.