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Debt Limit $ 12,367,726 $ 14,249,260 $ 15,945,420 $ 17,876,774 $ 20,043,646 <br />Total net debt applicable t <br />Total net debt applicable to limit <br />as a percentage of debt 0.00% <br />City of Ramsey <br />Legal Debt Margin Information <br />Last Ten Fiscal Years <br />Fiscal Year <br />1997 1998 1999 2000 2 <br />1,608,155 1,469, 506 <br />Legal debt margin $ 12,367,726 $ 14,249,260 $ 15,945,420 $ 16,268,619 $ 18,574,140 <br />0.00% 0.00% 9.00% 7.33% <br />Note: Under state finance law, the City of Ramsey's outstanding general obligation debt should not <br />exceed 2 percent of total market value. By law, the general obligation debt subject to the <br />limitation may be offset by amounts set aside for repaying general obligation bonds. <br />