|
$52,910,907$36,769,18030.51%$36,769,180
<br />16,141,727$1,763,696,90052,910,90716,141,727
<br />Note: Under state finance law, the City of Ramsey's outstanding general obligation debt should not exceed 3 percent of total taxable market value. By law, the general obligation debt
<br /> subject to the limitation may be offset
<br />2014
<br />
<br />(7,660,000)(7,320,000)(943,273)(15,923,273)
<br />$53,252,703$37,259,63330.03%
<br />15,993,070
<br />2013
<br />
<br />
<br />
<br />
<br />$57,200,67615,675,147$41,525,52927.40%
<br />2012
<br />
<br />$59,384,85320.56%
<br />12,206,870 $47,177,983$32,065,000
<br />2011
<br />
<br />Legal Debt Margin Calculation for Fiscal Year 2014
<br />$65,717,39416,465,04959.56%50.92%46.35%27.74%25.08%25.05%
<br /> $49,252,345
<br />2010
<br />Legal Debt Margin Information
<br />
<br />Last Ten Fiscal Years
<br />$71,088,67217,825,537
<br /> $53,263,135
<br />City of Ramsey
<br />2009
<br />141
<br />Page
<br />
<br /> Amounts available in respective Debt Service Funds
<br />$68,652,67219,046,615 $49,606,057
<br />2008
<br />* The statutory limit on debt of Minnesota municipalities increased June 30, 2008 from 2 to 3 percent.
<br /> Obligations issued with special assessments
<br />
<br /> Obligations issued with tax increments
<br />$43,306,23820,073,569$23,232,669
<br />Debt limit (3%* of market value)
<br />2007
<br />
<br />Debt applicable to limit:
<br /> Total deductions
<br />Taxable Market value
<br />Total bonded debt
<br />Legal debt margin
<br />$38,434,83419,572,702$18,862,132
<br />2006
<br />by amounts set aside for repaying general obligation bonds.
<br /> Less:
<br />
<br />Fiscal Year
<br />$33,624,264Total net debt applicable to limit20,027,702$13,596,562
<br />2005
<br />
<br />Total net debt applicable to limit
<br /> as a percentage of debt limit
<br />Legal debt margin
<br />Debt Limit*
<br />
<br />
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