Partners' Capital

12 Months Ended

Dec. 31, 2023

Partners' Capital Notes [Abstract]

Partners' Capital Notes Disclosure [Text Block]

(6)  Partners’ Capital –

For the years ended December 31, 2023 and 2022, the Partnership declared distributions of $692,933 and $690,407, respectively. The Limited Partners were allocated distributions of $686,004 and $683,503 and the General Partners were allocated distributions of $6,929 and $6,904 for the years ended December 31, 2023 and 2022, respectively. The Limited Partners' distributions represented $40.17 and $39.82 per Limited Partnership Unit outstanding using 17,077 and 17,165 weighted average Units in 2023 and 2022, respectively. The distributions represented $40.17 and $39.82 per Unit of Net Income and $0 and $0 per Unit of contributed capital in 2023 and 2022, 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.

During 2023, the Partnership did not repurchase any units. 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. 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 in 2022.